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Musk's heavy statement: If Trump is elected, BTC is afraid to big dump!
Elon Musk, the big boss of Tesla and SpaceX, recently issued a strong warning to BTC investors. He said that if Trump really became president, the cryptocurrency market might be in trouble. Why? Because Trump may make the US dollar stronger, which would cause the price of BTC to fall.
This Musk guy, his mind works in a different way. He thinks that if Trump really turns off the 'money printing' machine, the dollar will definitely become more valuable. In this case, the economy will be stable, but assets like BTC may depreciate. Although Trump has said before that he supports cryptocurrency, Musk believes that his economic policies may be tough on cryptocurrency.
Musk is a 'big shot' with tens of thousands of BTC in Tesla's hands. If the US dollar becomes stronger, the BTC in Tesla's hands will shrink. Musk himself has a wealth of 365 billion dollars. If BTC falls, both his personal wealth and the company will suffer.
The current US economy, although the inflation rate has dropped from 9.1% last year to 2.7%, Musk said that it is not easy to reduce inflation to zero or lower. The government and the Federal Reserve may continue to push up inflation, which makes the future of BTC even more uncertain.
Now, people in the cryptocurrency community are all guessing how Bitcoin will be after Trump takes office. Musk's words have sounded an alarm for everyone, reminding everyone to be more cautious.
However, if BTC really falls, those "altcoins" may have their day. Some promising "altcoin" projects might bring a "tenfold return" surprise in the next bull market. So, if you want to seize this opportunity, you must do your homework well, or you may regret it later!#BTC