Elon Musk pump again; How unexpected :))

By July 22, 2021DeFi
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ETH price rises by 18% after Elon Musk confirms he owns the 2nd flagman crypto

The cost of Ethereum rose after Tesla and SpaceX CEO Elon Musk said about this crypto money at The B-Word Conference, an occasion facilitated by the Crypto Council for Innovation.

ETH, which was at that point energizing on the day, contacted its high of the meeting after Musk’s notice. It was last up to over 12% and close to the highs of the day.

He likewise rehashed his help for digital currency by and large, notwithstanding possible ecological dangers, saying,

“One thing you do need to watch out for with crypto, especially bitcoin, using proof of work, using energy that’s a bit too much and not necessarily good for the environment.”

As bitcoin mining is progressively fueled by environmentally friendly power, Musk said, Tesla, will probably move to acknowledge bitcoin for exchanges by and by.

Gigantic bearish triangle on the Ethereum chart

Musk additionally said that right now, the lone traded on an open market stock he claims is Tesla’s and that he by and by possesses some BTC, DOGE, and ETH.

“The only significant thing I own outside of Tesla is SpaceX,” he noted, having helped create both companies.

He additionally said he has been holding his bitcoin for long-term investing.

“If the price of bitcoin goes down I lose money. I might pump but I don’t dump,” he said. “I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed.”

Musk likewise affirmed that his both companies own bitcoin and no other crypto money as of now.

The B-Word gathering was set up to “demystify,” “de-trash” and “right the standard account” around the BTC and advance its institutional acknowledgment and use.

Don’t be manipulated. In fact, the situation in the crypto world is very dangerous.

Grayscale Ethereum Trust Premium Index. There are very negative premiums (-)

Never allow yourself to blindly follow other individuals in the financial world who can have a very significant impact. The world of finance and the stock market trading is very cruel, there is no mercy and such big people don’t want you to succeed.

Above is a chart of the Canadian and American Cryptocurrency (ETHE) cryptocurrency index funds for Ethereum. The premiums there are very negative, this is the maximum bearish signal. Traders of these funds view the prospects for Ethereum as unpromising, so the premiums are negative. Also, some investors bear marginal losses. And don’t forget the huge bearish triangle!

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