The crypto market is in turmoil – a major change from the exuberance that kickstarted the year. One of the most important figures responsible for the euphoria in Q1, was none other than the self-proclaimed Dogefather, Elon Musk. His sudden love affair with Bitcoin and other crypto assets send valuations flying, and once he changed his tune, so did the trend. Now, the Tesla and Space X frontman is also made it on the front cover of Time Magazine as the elusive person of the year. But it could it be an omen that the end of the crypto bull cycle is near – or potentially already here. Time Magazine Picks Elon Musk As Person Of The Year Bitcoin and cryptocurrencies have been compared to all kinds of bubbles, ranging from tulip mania to the dot com boom. While it can be argued that like tech stocks from two decades because crypto assets make a comeback, they aren’t actually in a bubble at all, a more dramatic ‘pop’ could be on the way, according to the unfortunate timing of the Elon Musk Time Magazine cover. Related Reading | Bitcoin “Speculative Chart” Suggests Crypto To Soon Blast off Time Magazine selected Musk as the 2021 person of the year, which in the past has gone to names like Kamala Harris, Mark Zuckerberg, Barack Obama, and Jeff Bezos. In fact, it’s the Amazon CEO that coincidentally could be a sign that the crypto cycle peak is near. The Jeff Bezos cover was the dot com bubble peak, what abou...
