bitcoin

Bitcoin Tesla Patch-up: $40k is calling

Elon Musk says Tesla will start accepting Bitcoin as more miners use clean energy, a Bitcoin Tesla Possible Patch-up.

Tesla CEO announced that Tesla will accept bitcoin as a payment method however he retreated saying rising Bitcoin energy consumption is bothering him. The news hit Bitcoin and the price nosedived to below 50% due to FUD. Tesla CEO Elon Musk was greatly criticized for his endeavors to manipulate the whole Crypto Market. But the situation, now, is settling.

On Sunday, replying to tweet:

Did you see it? Elon Musk is catching flak again, but what’s it for this time? Sygnia CEO Magda Wierzycka lambasted him saying “What we have seen with Bitcoin is price manipulation by one very powerful and influential individual.

Musk responded saying:

bitcoin

Miners are encouraged to use affordable would have been wasted energy by the design of #Bitcoin. The price fluctuation will no longer be inevitable more and more people better understand this novel asset to mankind.

The news broke as a blessing at the end of the following weekend and pushed the price above $39700, it is expected by the crypto communities that prices will continue to rise however it is a bit hard to break the psychological resistance of $40,000.

Price Break down:

Bullish things:

-IHS call made earlier may be playing out

-1st Daily candle close above the 21 EMA in 32 days

Bearish things:

-Death Cross still looks imminent

– Still below the 200 Day MA

bitcoin

If Bitcoin could avoid this imminent Death cross-over, August will be the month to cross the $64k mark, if there is no news against Bitcoin. On contrary, the death crossover, if happened, can push the prices to a further dip of $25k or below.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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