Bitcoin surged above $38,000 after Elon Musk, the world’s richest man and founder of Tesla and SpaceX, mentioned the cryptocurrency on his Twitter profile.
Bitcoin price was $32,000 at around 08:30 UTC and jumped above $38,050. We witnessed a sudden +20% spike to 10-day highs on Friday 29th January 2021.
Elon Musk put #Bitcoin in the BIO profile on Twitter. There is no other description or explanation. The same move has done before Jack Dorsay, CEO of Twitter, and keep it till today.
Around the same time of change, Elon Musk also tweeted.
In retrospect, it was inevitable
— Elon Musk (@elonmusk) January 29, 2021
Bitcoin shot up by about 13% within minutes since the tweet.
Elon Musk has more than 43 million followers and every time he tweets something about cryptocurrency, the mass follows and buys.
Bitcoin price
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Let’s have a look at the technical analysis chart.
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Bitcoin is not the only cryptocurrency that jumped quickly.
Elon Musk has previously tweeted about cryptocurrency Dogecoin several times. The price of Dogecoin recently hit a new all-time high above $0.02.
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