Billionaire Elon Musk, known for his influence on cryptocurrency markets, seems to be returning to crypto just before Tesla’s Q4 earnings report on January 24. However, the crowded news agenda indicates that Musk’s impact on the market is waning, as his recent comments no longer cause significant price swings.
Musk previously claimed to have lost interest in cryptocurrencies and stopped discussing them weeks ago. He recently mentioned “Dogecoin to the Moon,” but Dogecoin’s price only managed a slight increase from $0.078 to $0.08, despite a general downturn in Bitcoin and diminishing attention on Musk’s statements.
Rumors about the death of Dogecoin’s mascot, Kabosu, caused a brief 10% surge in the price to $0.084, demonstrating that under current conditions, even fake news about the mascot has more market influence than Musk.
The upcoming Tesla earnings report on January 24 is anticipated, with speculation about whether Tesla engaged in Bitcoin trading during the last quarter of the year, which saw a rise in Bitcoin prices.
The market awaits to see if Tesla’s financial moves in the cryptocurrency space will be revealed, potentially impacting the market sentiment and Bitcoin’s valuation.
