Bitcoin was trading more than 4% higher on Thursday morning at around $38000 level. With the biggest crypto event happening soon and over 50,000 attendees including Twitter CEO Jack Forsey and Miami Mayor Francis Suarez, more and more investors are laying their eyes on the crypto scene. In the meantime, Elon Musk, the guy who started this rollercoaster ride for cryptocurrencies, is facing some backlash on Twitter as the ratio of positive-to-negative sentiment had fallen by around 25% compared to January, when tweets in favor and against Musk were about equal in number.
With Elon Musk having less influence on the scene, cryptocurrencies might see a rational resurrection. With multiple legislation on the way and Miami to become the hub for cryptocurrencies, it might soon become a stable investment category where risk averting investors will put their money into.
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