Elon Musk buys Twitter and Bitcoin is up

Rumors claim that Bitcoin is in a good market phase as a result Elon Muskits news related to the Twitter acquisition.

News of Musk on the issue has been plentiful in recent weeks. To the point that, in support of some rumors, Bitcoin would have risen in the market as a direct result.

Of course, these are only assumptions and not definite theories. However, it is important to analyze what the charts say.

Bitcoin’s value after Musk’s acquisition of Twitter

We begin with Saturday, October 27, the day of Elon Musk The acquisition of Twitter was made official. That day, Bitcoin posted a positive market pricewith a trading volume of $276.54,000 for a high of $21,038.1 and a positive end of 1.05%.

However, in the following days (October 30th and 31st and November 1st and 2nd), Bitcoin did not live up to the hype as it fell to -1.61% on November 2nd. Specifically, this day ended with a peak of $20,778.3 and a trading volume of $420.23K.

A short and hopeful upward phase occurred only later, in the days between November 3 and 4, when Bitcoin closed positively on November 5 with a peak of $21,464.7, with an increase of 0.74% and a trading volume of $261 ,23K.

Anyway, between November 6th and November 7th, Bitcoin was down again, to a low of $20,410.5, which was -1.56% from yesterday’s close.

Today’s data doesn’t bode well either, as Bitcoin is down -3.97% to record a low of $19,391.8 on a trading volume of $529.09K.

So it is more correct to say that Bitcoin has fluctuated considerably since Musk bought Twitter, rather than saying that there was a sharp increase. This by no means rules it out as a possibility in the future, but it’s certainly not a sure thing now.

However, the two may not coincide in the slightest, and despite the timing, Bitcoin’s market price change may seem independent of the Musk news.

Twitter user record: what really grew in Musk’s last week

Twitter user growth is at a record high in the first weeks after Elon Musk’s acquisition of Twitter, that much is certain.

Musk has been the new CEO of Twitter for about ten days, and no doubt, for better or worse, his presence has already made a difference. Moreover, it appears from reliable sources that Twitter’s user growth is at unprecedented levels.

All of this is thanks to Musk and his purchase of the world’s largest social media platform. Despite massive layoffs, resignations and Twitter controversy, it seems his influence remains markedly positive.

According to the data, the official report found that since Musk took over, daily user growth has exceeded more than 20%. In addition, the report states that Twitter’s largest market, the United States, is growing even faster, according to documents obtained.

The good news regarding users comes as the drama is focused on the billionaire’s acquisition of the platform. In addition, a lawsuit is developing in response to his mass firings, and advertisers are reportedly fleeing social media.

In contrast, on the positive side of the controversy, users remain.

There are reports that the massive downsizing of the Twitter team has scared off many advertisers. Also, the new CEO’s very public presence on the platform itself certainly won’t allay fears.

Only time will tell if user growth indicates that advertisers’ fears have less value than first thought. And that the atmosphere of Elon Musk is not the deterrent many thought it could be.