According to the CryptoNews From mid-March until now, Elon Musk has directly mentioned Bitcoin 9 times on his personal page. Two of them, he made the market red, Bitcoin depreciated by 10%. Elon Musk has a big impact on the Bitcoin market? The last time Elon Musk posted an article about Bitcoin was an image of an angry couple, with the words “BTC” and a broken heart symbol. Many people think this is a signal that Elon Musk no longer believes in the most valuable cryptocurrency. Soon after, he posted a meme photo of a trader who had difficulty trading because of the price correction. Is Elon Musk Talking Too Much About Bitcoin? Photo: Nikkei. According to the CryptoNews Bitcoin price dropped 2% just an hour after Musk posted the above article. In the following 24 hours, the Bitcoin price dropped 6%. That’s not the biggest drop Musk has made with the crypto market. On May 12, when Elon Musk announced that Tesla stopped accepting Bitcoin, in just an hour, the price of Bitcoin dropped 10%. This number remains for the next 24 hours. Not every article by Elon Musk has had such a large market impact. Out of Elon Musk’s last 9 Bitcoin-related posts, as of March 12, the majority have generated less than 1% volatility in the Bitcoin price. Even many articles have a positive influence, like when Elon Musk posted the Bitcoin symbol and diamond hand, alluding to the term Diamond hands, which are people who hold coins for a long time to wait for the price to rise. Following the aforementioned post, Bitcoin price increased by 3.6%. Over the next 24 hours, the increase is 10%, but it is difficult to confirm that it is entirely due to Musk’s post. Musk’s latest post is understood by many in the sense that he wants to “break up” with Bitcoin. Screenshots. CryptoNews commented that except for the news that Tesla stopped accepting Bitcoin payments and broke his heart, Elon Musk’s articles did not have too much impact on the cryptocurrency market in general and Bitcoin in particular. The fluctuations after his post were mainly due to previous market movements, hard to say because of Musk. Reasons for the volatility of the crypto market can include traders’ excessive use of leverage, China’s crypto ban, signals of crypto restrictions in the US, or concerns about cryptocurrency markets. environment. Elon Musk is getting hate for talking too much It cannot be said that Elon Musk can single-handedly influence the cryptocurrency market. However, the fact that he shares too much about this field still has the opposite effect on the reputation of the CEO of TEsla. Recently, every time Musk writes a Bitcoin-related article, he often receives negative feedback. According to data from the company Awario, which measures the emotions of social network users, the rate of positive responses to Elon Musk’s tweets fell to the lowest level in May. Negative feedback peaked on May 12, when he announced Tesla would stop accepting Bitcoin electric vehicle payments. Talking too much about cryptocurrencies, especially negative articles about Bitcoin, is damaging Elon Musk’s reputation. Photo: Twitter. In January, the number of tweets for and against Elon Musk was about equal. However, by May, the number of tweets against the Tesla CEO was 25% higher. This is the highest negative rate since Awario started measuring it in October 2020. According to this company, the number of tweets with neutral views still accounts for the highest proportion, up to 66%. “Clearly he is teasing the community,” said Bobby Ong, co-founder of crypto data analytics firm CoinGecko. “When Musk speaks out about crypto, the market will wait for a reaction,” Nick Spanos, co-founder of the ZAP Protocol crypto project told Reuters. While data from Musk’s most recent statements shows that the market reaction is less dependent on his words, Musk could still have a negative impact on his reputation. More than just damage to the crypto market, this could directly affect his other companies like Tesla. “Elon is slowly entering an area where it’s best not to say much, because Bitcoin is the currency of the future. I think that’s the danger zone for Elon, because when he makes his dips. price makes a lot of people lose money, they will stop supporting him and then Tesla,” Ross Gerber, CEO of investment firm Gerber Kawasaki and Tesla investor shared with Yahoo Finance .

On May 18, ETC (Ethereum Classic) was trading for $89, while ETH (Ethereum) was up to $3,407. It can be seen that, with a cheaper price, ETC is a superior choice to own Ethereum that investors should consider switching. In terms of features and structure of the Ethereum Classic (ETC) coin, there are some differences compared to other cryptocurrencies, but the most important is still buying in large quantities and owning a lot of cryptocurrencies with low price less costly payments. In terms of arbitrage performance, as of May 2021, the price of Ethereum (ETH) has increased by 367%. Besides, the results of the tally on the floor Yahoo Finance The end of 2020 also shows the ETH price ending at $730.37. As of May 18, it was at $3,407. That shows that the value of ownership has increased 4.67 times compared to the end of December 2020, equivalent to an increase of 267%. According to the data of Yahoo Frinance, c We should look at the net worth of ETC at the end of 2020 at $5.70. This means that ETC has increased by 15.64 times (equivalent to a performance of 1,464%). It is clear that the above indicators have shown that Ethereum Classic has significantly outperformed Ethereum, equivalent to an increase of 1,464% compared to 367%. That’s 4x better performance. Ethereum Classic is up 1,464 percent compared to ETH’s 367%, which translates to four times the performance. Photo: Internet. Outstanding Features of Ethereum Classic Ethereum Classic (ETC) is a cryptocurrency created and developed from the Blockchain technology of Ethereum (ETH) after the DAO fund of Ethereum investors was hacked which stole more than 50 million USD. From the moment it was created, Ethereum transactions have been running on the Ethereum Classic Blockchain platform until it is done.” hard fork” then these two blockchains officially operate separately. The result of the split process due to the policy adjustment but the project development participants did not agree and a batch “fork” is the split among crypto developers that took place in 2016. Ethereum Classic still carries the same features as Ethereum such as the implementation of smart contracts and distributed applications. Ethereum Classic has similar specifications to Ethereum such as average block time, size, and block reward. Ethereum Classic has a circulation limit of 210 million tokens, which is different from Ethereum’s unlimited issuance. According to the Coinmarketcap , ETC was issued 116.3 million tokens, representing 55.4% of the total expected. The circulating supply of Ethereum Classic reaches 50% and is likely to be “squeezed” by the number of tokens like Bitcoin – as the double mining difficulty caused Bitcoin’s price to surge earlier this year. Photo: Coinmarketcap. As predicted by technology experts, ETC’s token is similar to a tight squeeze like Bitcoin (BTC) in the near future. Bitcoin had 18.7 million tokens issued out of a total of 21 million, or 89% of the total. Since less than 11% of all Bitcoins currently available can be mined, there is a marked increase in production rate pressure on investors once the price rises as with Bitcoin. At the end of 2020, Ethereum Classic Labs allowed ETC holders to gain access to the DeFi (decentralized finance) market. They introduced “Wrapped ETC” (WETC), which allows ETC holders to “stake” their tokens. This is where they agree not to trade tokens for a specific period of time and in return receive interest payments in “Wrapped ETC”. In fact, it’s the same way a certificate of deposit works at a bank. WBTC allows users to transfer their tokens from one Blockchain to another, extending the utility of the token to work across multiple networks. Easy migration brings greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. What to do with Ethereum Classic? Some see the Ethereum Classic (ETC) token as a way to make money faster on the Ethereum Blockchain platform. The current market cap is $10.3 billion and that of Ethereum (ETH) is $395 billion. So the value of ETC is only 2.6% of ETH. Assume that, ETC achieves a market cap of $39.5 billion (10% of ETH). At that point, ETH will be boosted by at least 50%, which equates to an ETC market cap of $60 billion (10% of $600 billion). Equivalent to the growth rate of ETC is 600% compared to 50% of ETH. Let’s say it’s going to take us three years for this to happen. That implies a gain of 482.5% over three years representing a very attractive return on investment (ROI) rate for investors. That’s 90x faster than ETH’s 50% gain. ETC-USD is likely to ‘catch up’ and grow 90 times faster than ETH-USD over the next three years. Photo: Tygia.vn Given the meteoric rise of Ethereum (ETH) this year and ETC’s ability to “catch up” seems possible. Therefore, many investors in Ethereum should think of diversifying crypto trading by buying more ETC as an alternative to ETH.