While bitcoin is rising in price and is aiming for a new round of upward movement, other cryptocurrencies are also following. Thus, you can trade and earn money not only on bitcoin. First, the most well-known cryptocurrency literally pulls other tokens up with it. This applies of course to the most popular Litecoin and Ether. However, there is another cryptocurrency which was originally created as a joke but eventually gained the status of quite popular. We are talking about Dogecoin, which is more and more often recently associated with Elon Musk. No, the Tesla owner did not invest in Dogecoin. At least, there were no public statements about it. However, in 2019 the project conducted a mock poll with Twitter where users had to choose the name of the new CEO. The majority voted for Elon Musk, who at that time hardly knew anything about this token at all. Nevertheless, Musk reacted to this victory and since then, the token has regularly become more expensive on Elon's tweets. He said in 2019, "Dogecoin may be my favorite cryptocurrency. She's very cool." This cryptocurrency was also helped by the hype that arose at the beginning of the year around the shares of the GameStop store. In general, the currency is now very much more expensive and has gained quite a wide popularity. And initially, it collected donations on various forums. This cryptocurrency was also helped by the hype that arose at the beginning of the year around the shares of the GameStop store. In general, the currency is now very much more expensive and has gained quite a wide popularity. And initially, it collected donations on various forums. This cryptocurrency was also helped by the hype that arose at the beginning of the year around the shares of the GameStop store. In general, the currency is now very much more expensive and has gained quite a wide popularity. And initially, it collected donations on various forums.
Meanwhile, Musk's name is now being more frequently associated with bitcoin. We have already written earlier that the shares of the company Tesla are now tied to the bitcoin exchange rate according to many experts. Despite the fact that both Tesla shares and the bitcoin exchange rate have fallen in price over the past few days, experts are still optimistic about the future. Almost everyone believes that bitcoin will continue to strengthen, especially against the background of the almost guaranteed approval by the US Congress of new payments to Americans in the amount of $ 1,400 per person. Of course, not everyone will rush to buy the "cue ball" and Tesla shares, but many will do just that. Experts call the problem the fact that many in the world are buying bitcoin with borrowed funds in the hope of making a profit. However, as we have already said, not all bitcoin owners will ultimately make a profit. There will be some who will lose. But with the coming of time, when the world economy stabilizes, many investors will want to leave bitcoin, so other calmer and more stable instruments will become more attractive for investment.
The material has been provided by InstaForex Company - www.instaforex.com