If you have some technical background with electronics or designing new systems and technologies, then you already know what a stress test is; it is possible that you have commenced one yourself. But if you don’t have any idea about then here it goes; it is the vigorous testing of new technology, hardware, or idea under extreme duress designed in such a way that the element which is being tested upon might cave in and break by not coming up to agreeable merits. A bit classy, isn’t it? Well, this is what Elon Musk has been doing with Bitcoin, and now he claims that it has passed the stress test he designed for it. He doesn’t only test things with Tesla or SpaceX as he is a devoted researcher to check the merits and significance attributes Bitcoin as a flagship cryptocurrency has to offer.
Bitcoin Manages to Live up to Musk’s Standards
When asked on a Twitter handle that if Bitcoin passed the stress test designed by his car company, then instead of being ironic about his statement as he is used to giving out these on Twitter literally about everything, he commented a simple “Yes.” He couldn’t be more straightforward about this now, can he? A simple yes suggests that the test was a success, and Bitcoin has passed with flying colors. Now that another tweet in favor of Bitcoin has emerged on social media channels such as Twitter, it is likely that the asset might see a rise in its pricing anytime now, and the specialized bots prepared by people will do their thing too.
It is a practical application where people have developed or scripted various AI bots that are designed to buy as much Bitcoin as advised by the developer when Elon Musk takes the stage and has to chip a few things about Bitcoin. Well, there it was, so it is likely that people will be trading ferociously into Bitcoin, leading to a huge price bump or not given the current volatility Bitcoin seems to reside in. You have only heard the good stuff, but in reality, the bearish notions were there lurking like shadows behind the success that Bitcoiners have seen today. It is likely said that when a bearish trend sticks with Bitcoin in the near future, then Musk will leave the crypto market while also deserting the Bitcoiners to take the fall. But it is highly unlikely and is mere speculation.