Elon Musk’s recent tweet about a possibility of Tesla dropping its BTC holdings has pushed Bitcoin to the lowest level since May 1.

cryptonews.net

Legendary trader Peter Brandt has hinted that this could be the “come to Jesus” correction that he predicted in a tweet on May 2.

“Officially the largest correction since March 2020 low”

Savvy commodity trader Peter Brandt who’s been in the business when most current crypto traders were not even born, has tweeted that the current Bitcoin plunge caused by yet another “anti-Bitcoin” tweet of Elon Musk is the lowest since the dip BTC took in March 2020 (the Black Thursday event).

He has posted a sarcastic comment regarding the iron belief of Bitcoiners that the support of financial institutions will prevent any major Bitcoin price set back.

One person’s tweet – Elon Musk – has proved to be enough to upset the boat supported by hedge-funds and world’s leading banks – Goldman Sachs and JP Morgan, etc.

In case you did not catch it, the comment about institutional support was intended as sarcasm.

As reported by U.Today earlier, in his tweet on May 2, Peter Brandt stated that a “come to Jesus correction” was yet to happed in the crypto market.

Although, it seems, Mr Brandt expected a much harder dip along the whole market of digital currencies.

Bitcoin going up and down, following Musk’s tweets

This weekend has been pretty tough for the world’s flagship cryptocurrency. On Sunday, Bitcoin saw a plunge to the $45,127 level – the lowest since at least May 1 – as Elon Musk shared that Tesla may remove BTC from its balance sheet.

Besides, Musk threatened that he may also go all in on Dogecoin.

However, after the Tesla CEO confirmed that the company still holds the BTC it bought earlier this year, the largest crypto by market cap rose about six percent.

At the time of writing, Bitcoin is changing hands at $45,200, as per the data published by CoinMarketCap.

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