Why would Elon do this to us?

Every investors are holding Bitcoin right now probably on panic-selling mode with a massive drop of 16.71% following of Elon Musk announced on Twitter that he had to decline all the Bitcoin payment to reduce the purpose of mining Bitcoin.

The sign of overuse to fossil fuels from mining Bitcoin becomes a concern to be aware of the environment. Even though, they acknowledge the potential of cryptocurrency is the future, but it might be the side effect to damage considerably to the ecosystem. However, Tesla might expect for the alternative of cryptocurrency within <1% of Bitcoin’s transaction or energy and Dogecoin is having a high possibility of being chosen as the value of itself still under 1$ at the moment.

Tesla & Bitcoin pic.twitter.com/YSswJmVZhP

— Elon Musk (@elonmusk) May 12, 2021

So is it the right time to buy more or avoid investing in Bitcoin?

The fluctuation in cryptocurrency is a common thing and its following the natural flow. Additionally,  back in 2017, it had been dropped tremendously when it was $20.000 and every investors lost their trust after all. Although, some investors still believed the future of cryptocurrency to keep buying it and right now it reaches a whopping of $60.000, meaning of it increased 300%.

That’s the reason why we should keep investing it when it drops to the low price and we can keep gaining more profits afterward. Despite the fact of inflation, but it is the first creation and the most valuable cryptocurrency in the world to be supported by many other famous companies.

What should we be mindful of?

It is not the end of the world by the facts of Tesla withdrawing Bitcoin out, but the point of mining Bitcoin is definitely criticized since it is basically hacking the system to produce more Bitcoin by using more energy in order to take full advantage of going a head of investment.

Nowadays, many investors started to mine many different cryptocurrencies more than usual without caring the side effect to the environment, which reflects to how we are being greedy to invest in it.