Bitcoin has recently touched its three-month low mark, and the person to blame is Elon Musk. Tesla boss posted a tweet about the bitcoin’s holdings of his company, Tesla, and it triggered the investors, and the price of bitcoin fell to $42185. Last week, Musk said that his company is going to stop accepting bitcoin payment, and now he tweeted that it has not sold any of its bitcoin holdings. Bitcoin mining has a huge impact on the environment, which is the primary reason that Elon Musk is not supporting the world’s biggest cryptocurrency, despite its massive market value.
Bitcoin showed his interest in bitcoin, but now he has made a U-turn on it. It has surely affected bitcoin negatively, but all the volatility has benefited altcoins in numerous ways. You can visit https://q-profit-system.com to try bitcoin trading and make money. Ethereum and Dogecoin are own their peak price, and the interest of investors has been seen shifting towards these altcoins. Bitcoin is a cryptocurrency created for an easy transaction, but it is highly volatile. Now it is way below that its all-time high and the trend is showing that it will drop more.
Tesla boss takes a U-turn – Bitcoin falling quickly.
Elon Musk is known for always supporting cryptocurrencies, but his tweet about Tesla not accepting bitcoins anymore has raised several doubts about the future of cryptocurrency. A musk is a powerful person, and his single tweet has done great damage to the market capital and price of bitcoin. Along with that, Musk has also shown support for the altcoins like Dogecoin, which has grown over 10000% in the current year. He has also added that he has been in touch with the developers of Dogecoin and is working to make it more efficient. It is obvious that if a cryptocurrency gets the support of Elon Musk, it is will surely boost. On the other hand, a single tweet of the same person against a coin like bitcoin can destroy its market.
Bitcoin may recover soon.
Bitcoin has dropped drastically, but it may be a positive sign, and it may recover soon. With bitcoin’s price plunged, it has found a strong buying interest, and investors see it as an opportunity to buy bitcoins. So, with heavy buying interest, it is expected that bitcoin will recover quickly and will again reach the top. Currently, the price is holding at $42000, but it may soon break the barrier and start growing.
Sony gets the patent for bitcoin in-game betting for Playstation.
PlayStation is the most popular gaming console, and the latest news is that its company is planning to adopt bitcoin and allow the users to use it for in-game betting. Recently, Sony published a patent in which it was clearly mentioned about an innovative and new developed system that will allow the users to enjoy live sports betting using the traditional currency as well the king of the cryptocurrency world; bitcoin. It will focus on providing the gamblers with an option to use bitcoins for placing bets while watching the live game of their favourite sports. If we talk about the betting odds, they will be created by an artificial intelligence system already fixes in the console that will use the previous games of the players.
The surprising thing mentioned in the patent was that the technology is not developed exclusively for Sony PlayStations as the company is planning to port it to other gaming consoles in the market, too, such as Microsoft, Nintendo, etc.
Why is it important?
This news is quite important as there was a huge discussion going on over a long time that why video game companies are not trying their hands into cryptocurrency. Sony is one of the few top video game manufacturers that is taking an interest in cryptocurrencies like bitcoin and blockchain technology. It is trying to add as much innovation to its products so that it can use blockchain and provide the customers with an option to use bitcoins while gaming. Microsoft already allows bitcoin users to purchase its exclusive video games from the store using bitcoins. Ubisoft has also joined a crypto project and is focusing on using blockchain technology for validating transactions.