Bitcoin trades in $ 29,000 ‘one man land’ as a Tesla ESG survey consumes stocks

Bitcoin trades in $ 29,000 'one man land' as a Tesla ESG survey consumes stocks

Bitcoin (BTC) sat $ 1,000 lower on May 19 after a bleak trading session on Wall Street the day before paid off for another rise.

One hour candle chart of the BTC / USD (Bitstamp) pair. Source: Trade View

Musk slams ESG ‘scam’ after S&P 500 event

According to data from Cointelegraph Markets Pro and TradingView, the BTC / USD pair was hovering around $ 29,000 at the time of this writing, after bouncing back to $ 28,600 on Bitstamp.

The pair fell in line with US equities, with the S&P 500 in particular in sight, triggering the largest intraday decline since June 2020.

Tesla’s drama, which was removed from the index amid ongoing controversy, prompted this poor performance.

The company’s CEO, Elon Musk, publicly met with the people behind the decision, which appeared to be related to adhering to the so – called environmental, social and governance (ESG) criteria.

ESG criteria are a scam. He was instrumental in imitation social justice heroes “, can we read in part of the response on Twitter.

Further proof that ESG is a scam. Tesla (an electric vehicle company in the literal sense of the word) also invests in bitcoin, its most powerful ‘S’ holding, sustaining the financial powers of thousands of millions of people. people around the world about authoritarian regimes and emerging markets
– Alex Gladstein ⚡ (@gladstein) May 19, 2022

Cathie Wood, founder and CEO of investment giant Ark Invest, said qualified the decision to exclude Tesla from ” ridiculous “and your” without any other answer “.

As anti-inflation measures begin to take off, so do the prospects for risky assets. ” consolidation in the coming months, some are arguing.

The famous trading account CredibleCrypto acknowledged that bitcoin copied the behavior of the S&P 500 during the 2008 global financial crisis.


Do you remember the feeling that prevailed in 2008 when the real estate bubble burst? Do you remember the stock market crash of 2008 and the recovery that followed? Fork highs, fork bottoms, deflectors, flat extensions, whatever you want to call it – we’ve already seen it. $ BTC CrediBULL Crypto (05.27) (@CredibleCrypto) May 19, 2022

While bond markets could theoretically benefit from financial tightening from central banks around the world, pro-Bitcoin sources do not really believe in their investment base.

Analyst Dylan LeClair said, referring to the reading of Vanguard’s Total Bond Market (ETF) exchange traded fund. qualified de ” a global bubble of everything falling in real time “.

It will be even crazier “, He said during the day.

Outside of crypto, as reported by Cointelegraph, market commentator Holger Zschaepitz often refers to the case as the “ biggest bond bubble in 800 years “.

Anxiety Stays Over Low New Bitcoin Macro

Going back to the shorter time frames for bitcoin, the prognosis was still focused on potential movements above $ 30,000 before a deeper correction would take place.

Read also: First lost streak 7 weeks in history – 5 things to know about bitcoin this week

Probably some momentum towards $ 29,700. The question is whether we can sustain $ 29,300, but overall I still expect a bullish move in bitcoin and continue towards $ 32,800 / $ 34,000 “, yes declared Michaël van de Poppe, Cointelegraph participant with his Twitter followers tonight.

Meanwhile, another trader, Crypto Tony, reiterated his thesis that the BTC / USD pair was not upside down with last week’s fall to $ 23,800 and that “ capitalism more important was expected.

I will be sharing charts and quantitative analysis soon to support why I believe capitalization has not yet taken place. Many believe that it has happened before, but it is important to see what it is and what it really means.
– Crypto Tony (@CryptoTony__) May 19, 2022

another post Put down BTC course of the day is like being in a “country without men”.

The views and opinions expressed herein are those of the author only and do not necessarily reflect the views of All investments and trading operations involve risk. You should do your own research before making a decision.

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