Jakarta, CNBC Indonesia – The teasing of Elon Musk, CEO of Tesla on his Twitter account about Bictoin made the price of the crypto asset fluctuate again.
Bloomberg noted, the price of Bitcoin fell 5.3% to a level of US $ 35,220/BTC after Elon’s tweet about cryptocurrency. He tagged Bitcoin with a broken heart symbol hinting at a potential split with the cryptocurrency.
Elon also disrupted the price movement of Bitcoin and other digital coins through his post on Saturday, tweeting that “goods & services is the real economy, any form of money is just the accounting,” Elon Musk tweeted.
On the other hand, the price of Bitcoin resumed its downward trend amid sentiment on the bill that President El Salvador proposed to Parliament to ratify Bitcoin as a currency in the Central American country.
President Nayib said, if this is realized, then El Salvador will be the first country in the world to legalize Bitcoin as a currency along with the US dollar.
Another positive catalyst also came from Square Inc, which said it would invest $5 million to build a solar-powered Bitcoin mining facility on Blockstream Mining’s US site through a partnership with a blockchain technology provider.
However, crypto asset investors are also concerned about the risks of regulations in force in China that prohibit cryptocurrencies. As is known, Weibo, a Chinese social media service, blocked several crypto asset influencer accounts, citing violations of unspecified laws and Weibo community rules.
While Weibo has cracked down on various cryptocurrency-related accounts in recent years. This is in line with the Chinese government’s stance on implementing the tefas rule on crypto assets which has contributed to the price decline for many digital coins.
“Weekends have not been friendly to Bitcoin these days,” said Nicholas Colas, co-founder of DataTrek Research. “You don’t have a lot of institutional players involved, it’s not a liquid market like during the week,” he explained.
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