Elon Musk + Doge = A partnership that we can trust!

By Cryptogirl23 | DOGEANDBTC4YOU | 27 Oct 2022



Thursday's bitcoin market gains are lower after the prior rise (27).

As investors in Europe prepare for yet another significant rate hike, unsettling signals from tech titans are having an impact on U.S. stock futures.

According to information from CoinGecko, the price of Bitcoin (BTC) has increased somewhat during the past 24 hours, rising 0.4% to $20,695.91. Ethereum (ETH) is now worth $1,552.23 after rising 1.2%.

A number of alternative cryptocurrencies had a slowdown as well, including Binance Coin (-0.1%), XRP (+1.8%), Cardano (+0.1%), Solana (+0.1%), Polkadot (-1.3%), Shiba Inu (+5.9%), and Alavanche (-0.4%).

In the previous day, Polygon's price fell 2.7%.


What's happening with Bitcoin?


After the Canadian central bank's surprise move to hike interest rates, Bitcoin hit the $21,000 milestone on Wednesday (26).

However, despite warnings from the faltering balance sheets of the so-called big technologies, Wall Street did not share the optimism.

The S&P 500, which also includes a significant portion of the technology sector, dropped 0.6% while the technology-focused Nasdaq index dropped roughly 2%.

Investors who were betting on dropping prices were caught off guard by the rising demand for cryptocurrencies following weeks of stagnation, which resulted in more than $1 billion in liquidations.

The whales, or investors with at least 1,000 BTC, are another red flag because they have been sending more and more of the cryptocurrency to exchanges over the past 11 days.


What European Central Banking is doing?


This Thursday, when the European Central Bank decides to raise the base rate by 0.75 percentage points to its highest level in more than a decade, monetary policy will once again be on the minds of investors.

Today also sees the release of the quarterly US GDP figures, and many anticipate that growth will resume after two quarters of contraction.


What about Dogecoin?


Following Elon Musk, the billionaire tech entrepreneurimpending ,'s acquisition of Twitter, Dogecoin soars for a second day, up 12%. According to the Wall Street Journal, banks have started transferring the US$13 billion in cash needed to finance the US$44 billion purchase, which is expected to be finished this Friday (28).

In an attempt to parody a tweet that said, "Let that sink in," the billionaire recorded a video on Wednesday (26), entering the social network's San Francisco headquarters with a sink. In this term, the word "sink," which in English means "sink," meaning "get acclimated to the concept."

Musk also altered the bio on his Twitter account to "Chief Twit."

According to those familiar with the situation, Musk informed the Twitter staff on the same day that he does not plan to fire 75% of the company's employees when he takes over the social media network. However, the Tesla owner has indicated that he will eliminate employment as part of the takeover, which has alarmed workers.

As Musk has previously declared his support for Dogecoin, adding the token into the project is expected given his intentions for a "super-application" with a variety of functionalities.


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