Elon Hurts Crypto Elon Musk’s tweets made a negative impact o | DeFi Hunk 💎🤯

Elon Hurts Crypto

Elon Musk’s tweets made a negative impact on the cryptocurrency market in May 2021.

According to a survey done in the USA among investors, around 70% of 1,103 respondents said that Bitcoin’s dirty mining was the reason why they preferred more eco-friendly cryptocurrencies than Bitcoin for investment. And 36% of the respondents had not known about Bitcoin’s negative environmental effect before Tesla’s CEO tweeted about it.

About 30% of the respondents sold their Bitcoin in May 2021. And 6% did it under the influence of Musk.
Jesse Cohen, analyst at Investing.com has said that Bitcoin will have a hard recovery as an asset largely affected by psychological perception of the masses.

Meanwhile, 51% of the respondents said that Elon Musk had too much power on Twitter. Just 24% said that Tesla CEO does not impact the cryptocurrency market too heavily. Some investors (33%) said that they were annoyed by Musk’s tweets, 22% said Musk’s tweets were unfair and 27% called them entertaining.

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