Elon Musk in 3rd place | Bitcoin drops to $ 33,000 ,21% fall, What is the reason?

Elon musk third-richest person

Elon Musk, President of Tesla, is the most recent speaker on the term cryptocurrency. It can even be said that in a way it created its growth. Because after Tesla invested in Bitcoin, cryptocurrencies became widely spoken around the world.

Many of the world’s largest companies have volunteered to invest. Day by day the new peak was touched.

Elon Musk in 3rd place | Bitcoin drops to $ 33,000 ,21% fall, What is the reason?
Elon Musk in 3rd place | Bitcoin drops to $ 33,000 ,21% fall, What is the reason?

Widely used cryptocurrency investment in the world.

Bitcoin is one of the most widely used cryptocurrency investments in the world today. It has become an investment desired by many in the international market.

The main reason for that is Tesla. It was only after Tesla’s investment that the value of bitcoin rose daily. This may have given hope and inspiration among investors.

Current price of Bitcoin (drop in price).

The main reason for this is that Musk tweeted on May 13 that Tesla will no longer accept digital currency bitcoins for a fee. Shares of Bitcoin fell 6.2 percent after the tweet.

Bitcoin is priced at $ 42,185. This is the lowest since February 8th. On February 8, Bitcoin traded at $ 43,564.

The current bitcoin price is currently down 21.50% to 33,007.10 (6.44pm – COINDESK Indian time). Its lowest price in the last 24 hours was $ 32,542.38.

Current price of Bitcoin.
Current price of Bitcoin.

The same peak is $ 38,251.46. Today’s starting price and peak price are the same. This is a sign of market decline. Its all-time high is 8 64,829.14.

Why not accept Bitcoins?.

Elon Musk became the world’s richest man in January after Tesla’s shares rose nearly 750 percent during last year’s Corona boom in technology – based stocks.

But he could not maintain this position for many days. According to Bloomberg, Tesla reported higher profits in the first quarter of this year, followed by a one-fifth reduction in semiconductor deficits worldwide and increasing competition from traditional automakers.

Why not accept Bitcoins? It is well known that fuels are used for the production and exchange of bitcoins. It contains a high percentage of coal. Coal is made from the waste of various fuels, so Musk promotes bitcoins, he said in a tweet.

Criticism on social media.

Following Elon Musk’s announcement of Bitcoin, it has been receiving harsh criticism on social media.

Experts estimate the next major support level at this level is $ 37,000, followed by $ 30,000. It has already broken 000 37,000 and is at $ 33,000. Now the next target is $ 30,000.

The third richest man in the world.

Shares of Tesla fell sharply after the Global State of Technology shares last week. Musk’s wealth, which topped the Bloomberg Billionaires Index in March, fell to $ 160.6 billion (24 percent).

The third richest man in the world.
The third richest man in the world.

According to the Bloomberg Billionaires Index, Tesla CEO Elon Musk has lost his second place in the list of the richest people in the world and is in third place. Now in second place is LVMH President Bernard Arnold.

According to Bloomberg, Musk’s revenue fell to $ 9 billion this year. Bernard Arnold the 72-year-old’s net worth rose from $ 47 billion to $ 161.2 billion as sales of his company’s luxury goods increased in China and other parts of Asia. 

Jeff Bezos is currently the richest man in the world, followed by Bernard Arnold and Elon Musk.  Next in line is Microsoft co-founder Billigates.