Ethereum has also struggled to stick to $4,000. In the last 24-hours, as per CoinMarketCap, this cryptocurrency stands at $3,900. BTC and ETH prices are somewhat co-related. Bitcoin’s highs and lows has a significant impact on ethereum. The majority of cryptocurrency investors prefer to invest in these two digital assets despite their volatility. These two cryptocurrencies are here to stay.
The crypto market is bound to feel a volley effect of Jack Dorsey and Elon Musk’s statement about Web3. Dorsey has tweeted that no one owns web3. He said the VCs and LPs do. Dorsey believes web3 will never escape their incentives. It is a centralized entity and has a different entity.
A day ago, Tesla CEO had said web3 was more of a marketing buzz than a reality. He questioned web3’s existence shaking its very foundation. And Dorsey had replied that its somewhere between a and z. The former Twitter CEO may have been referring to Andreessen Horowitz, a venture capital firm which is also known as A16z. But there seems more to this than mere letters and numbers.
Crypto enthusiasts are wary of Elon Musk’s tweets as it often hits bitcoin and cryptocurrencies in a negative way. His tweets either send the price of some cryptocurrencies like Dogecoin skyrocketing or bitcoin plunging. As of late, Musk is known for his love affair with dogecoin after howling to the moon.
Overall, with two days left for Christmas, the bitcoin price may either take a positive leap or slip a bit more before making a mark into the new year.
