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Bitcoin Falls Back to $32K as Elon Musk's Bio Change Fades Into Memory
The price jump coinciding with Elon Musk's Twitter attention retraced over the weekend.
Even Elon Musk's power has its limits, apparently, as bitcoin gave back all its gains from a nearly 20% pump that coincided with commotion over the tech mogul's Twitter account.
STORY CONTINUES BELOW
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- Before the weekend, the Tesla CEO changed his Twitter account biography to read #Bitcoin, sending social media into a frenzy.
- Coinciding with the hoopla, BTC jumped from around $32,200 to above $38,400 in a couple hours.
- Several hours later, however, the leading cryptocurrency started to drop, dropping below $34,000 on Friday evening. Through the weekend, BTC continued to trade below $35,000, dropping even further on Sunday.
- At last check, BTC was trading at $32,831.88 on CoinDesk, up slightly from its 24-hour low of $32,229.55.
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
