Bitcoin rallied from 3-month low Monday in a session that saw investors selling, then buying cryptocurrencies in the wake of Tesla boss Elon Musk’s tweets about the EV maker’s bitcoin holdings.
In his latest Tweet, CEO Musk said “Tesla has not sold any bitcoin“. That clarification came after his weekend Tweets that hinted Tesla (NASDAQ:TSLA) is considering or may have already sold some of its BTC.X holdings.
Mr. Musk has boosted crypto markets with his enthusiasm for the asset class, he excites retail investors.
Bitcoin fell Monday to as low as 42,185, its lowest since 8 February, then rallied more than 5% to around 44,220.
Ether, linked to the ethereum blockhain, fell to 3,123.94, and then rallied to $3,400. Dogecoin fell to $0.48, and all 3 coins are consolidating below recent records.
The crypto asset class surged this year, with dogecoin up about 100X, ether up more than 4X and bitcoin gaining 45%
Some traders have moved to the sidelines as the coins consolidate.
Have a healthy week, keep the Faith!