Today, we are witnessing an unprecedented series of events. While the meeting with China is proceeding smoothly without any significant incidents, the verbal clash between Elon Musk and former U.S. President Donald Trump is causing a strong shock in the financial market. Bitcoin is currently searching for a new daily low, while Tesla's stock has dropped by up to 8%, along with many other cryptocurrencies also plummeting.
Why Is Crypto Plummeting?
Currently, there is no specific reason confirmed. However, the coincidence between the escalating tensions between Musk and Trump and the decline in Bitcoin prices is raising many speculations. Mr. Trump has just spoken out in defense of a bill he is pushing in Congress — a proposal that Elon Musk has publicly opposed strongly. Trump has expressed his public disappointment:
“I have helped him a lot. We used to have a very good relationship. Now I don't know anymore. I am really disappointed with Elon.”
On his part, Elon Musk responded just as sharply:
“If it weren't for me, Trump would have lost the election.”
The question is: Is the collapse in crypto prices directly related to this conflict? Is Musk 'hitting' Trump by impacting the cryptocurrency market — a field that Trump has recently shown support for? Or is Tesla secretly liquidating the Bitcoin they hold? Or is Musk launching a reverse propaganda campaign to divide the Republican Party — where Trump still holds sway?
Forecast for the Cryptocurrency Market
Currently, besides this verbal duel, there aren't many other clear negative factors. In fact, news from China is positive — trade negotiations have resumed, and the likelihood of signing a new agreement with the European Union (EU) has significantly increased. However, the market is still in the red. This raises the question: what is driving the sellers?
It is not excluded that large organizations are acting before any undisclosed news breaks. In the past, there have been several instances where the crypto market plummeted before adverse information was officially released — and later, the event was explained as the main cause. A familiar game.
It could also just be a false 'dip' — a tactic to trick retail investors into selling off before the market turns sharply upward. This is not the first time cryptocurrencies have shown such 'theatrical' behavior, and it certainly won't be the last. This market is known for its unpredictable reversals.
In summary, the confrontation between two influential figures — Elon Musk and Donald Trump — has created a considerable wave of confusion. In a market lacking clear macro information, any speculation could be right… or completely wrong. The only certainty at this moment is: the cryptocurrency market remains a brutal and unpredictable gamble.
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