This bearish cycle is completely necessary, the bullish leg is very stretched, we need a Fibo realization to correct this movement, to then normalize the price

Billionaire Elon Musk shared an opinion last Tuesday, the 7th, that diverges from the assessment of many investors and analysts about the impact of Donald Trump's new government on bitcoin. The businessman stated that, if successful, Trump's administration could end up contributing to a loss in the value of cryptocurrencies.

Musk spoke about the topic in a comment on X, formerly Twitter, in response to a post that talked about Trump's plans to cut public spending through DOGE, a new American government organization that will be led by Musk and politician and businessman Vivek Ramaswamy.