As you all know, cryptocurrencies are known for their high volatility, which makes it quite common to see appreciation in the tens to hundreds of % in a matter of hours. However, Elon Musk again contributed to the current decline, outlining that Tesla could sell its BTC holdings in the near future. This, of course, again caused panic sales in the Bitcoin market and thus the vast majority of altcoins that have always followed Bitcoin. Bitcoin was down 3.7% to $45,100 yesterday, also due to Elon Musk’s statement that his company Tesla could soon sell all of its BTC shares worth more than $ 1 billion (BTC, -8.45%).
It is interesting to see how the market responds with panic to the statements of one person. However, it is clear that at present the market is much more sensitive to any news, mainly due to the announcement by Tesla on May 12, where we learned that the company stops receiving payments at BTC, due to concerns about the impact of this cryptocurrency on the environment. However, Elon Musk has already managed to assure people that Tesla has not yet sold its shares in BTC and continues to hold this cryptocurrency in its portfolio.