This morning Elon Musk invested 1.5 Billion dollars into bitcoin and this was the aftermath.
Now while this is a great thing for bitcoin what this really starts showing you is how much power whales have in Bitcoin.
1.5 Billion took bitcoin from $39,400 all the way up to $43,500 which if a whale did this steadily over time you would see bitcoin trending upwards which would seem like a spark in a rally for the coin. This is honestly how easy it is to fake a rally or fake a sell off in bitcoin right now. 1.5 Billion really isn't all that much money when you start talking about whales in bitcoin and starts to make you wonder on past rallies and sell offs.
In any case Elon has announced he plans on using Bitcoin as a form of payment for all things. This would include cars and heck most likely even space flights soon to come!
That means that bitcoin you hold today could one day send you to space now how's that for blowing your mind!!!
This now sends cryptos market cap at just under 1.3 trillion dollars. Somewhere honestly I didn't think we would be any time soon. But this again shows you the power of whales and influencers and how much power they currently have on Bitcoin let along other cryptos with an even smaller market cap.
Think about this same amount injected into Ethereum which is just about half the size of Bitcoin.
This seems to have trigged money flows into other cryptos as well and since bitcoin is seeing a small decrease I'm currently looking into money flowing out into other alt coins and projects and perhaps this might be a great week for Altcoins!