Suddenly... Elon discovered that Bitcoin is not eco-friendly, and announced that it was not an option for Tesla anymore...
Then came the crash... Bitcoin dumped, as well as most of the other coins... except ADA, DOT, KSM and a few other exceptions.
What can we learn from that? Nothing is guaranteed in crypto, especially when it becomes too much trendy and promoted by personalities.
Beyond that first statement, the environmental issue needs to be taken into account. We all know that Bitcoin is a disaster for the environment, right?
So, from there, we can investigate two options:
1. To follow what Elon is going to do now. He did not say that Tesla rejects all cryptos, but only Bitcoin, because it pollutes too much. He also announced that he is talking with Dogecoin development team to see what could be improved. Does it mean you should immediately buy DOGE? Not sure, because Elon is totally unpredictable. Maybe he will announce that Tesla will launch its own crypto, and then DOGE will collapse... Risks are too high
2. To search for the most eco-friendly coin... ADA and DOT are good candidates. Stellar XLM would have been mentioned again, maybe just a rumor. XRP might be eco-friendly, but the trend remains quite uncertain with this ongoing SEC procedure. My preference would go to ADA and DOT... Please DYOR
Beyond that environmental aspect, the market has been shaken a lot by these news, and nobody knows what's next. Bitcoin dominance is so low now, usually it means that BTC is about to pump, but this time it seems lost forever. ETH has grown too much... Could it become the #1 crypto in the future, followed by ADA / DOT / BNB / SOL / FTM which are all more eco-friendly than BTC? Please let me know your thoughts & on which coin you bet.
As usual, it is only my point of view, and I am not a financial advisor. Do your own research and click on this link to get more insight into cryptos.