After Elon Musk tweet about Bitcoin in the past 6 hours, Bitcoin price went down to 36.4 K.
But is this Bitcoin movement really due to Elon Musk tweet?
Here is my take on that:
I think right know, the crypto market is still driven by fear and any FUD, as tiny as it may be can quickly tank the price. The market is not recovered yet.
In my opinion, the past hours price action is due the Bitcoin price facing resistance around 39.6 K area and adding to the FUD, the price went back down to 36K support area.
The market is still fragile and fear driven at this point.