Bitcoin News Bitcoin sinks back to $ 48,000 in worst week...

Bitcoin sinks back to $ 48,000 in worst week since February

-

- Advertisment -

The largest cryptocurrency registers a 2% decline to $ 48,000. It has plunged more than a fifth of the record close to $ 65,000 it touched last month.

Bitcoin is going to its worst week since February after the most recent tweets about cryptocurrencies Elon Musk caused a collapse of the digital currencies.

Bitcoin is down 2% to $ 48,000 and has plunged by more than a fifth from the near $ 65,000 record it hit last month.

For months, the cryptocurrency markets have been buzzing watching the Tesla boss’s tweets. His comments on dogecoin, a token that was born as a joke and has little practical use, fueled a rally that rose in value a hundredfold this year.

Musk’s words plummeted the value of bitcoin this week after tweeting that Tesla would stop accepting it as payment due to environmental concerns.

Dogecoin is up about 25% after Musk’s latest tweet.

“Working with Doge developers to improve the system’s transaction efficiency. Potentially promising,” Musk wrote Thursday after calling it a “scam” last week, leading to a decline in its price.

Ben Pence
Ben Pence is a The Advertiser Mirror correspondent who covers politics, business, money, lifestyle, technologies and worldwide news. Ben is a talented guy of 22 years old who loves to write and record Podcasts as a part of his ideal to inform people about news and opinions.

Latest news

Does the Netherlands declare war on Bitcoin?

A Dutch government official argued that digital currency "does not fulfill any of the three functions of money and is practical for criminals."

Someone paid $28 million to travel to space with Jeff Bezos

The traveler beat about 20 rivals in an auction that began on May 19 and whose last 10 minutes were broadcast on television.

The Covid-19 pandemic has encouraged child labor in Latin America

Some 8.2 million minors, between the ages of 5 and 17, work in Latin America and the Caribbean, a region that is "far" from eradicating this child activity due to the pandemic.

A estimate that global oil demand will stabilize by the end of 2022

Global oil demand is recovering at a strong pace this June and that trend should continue in the coming quarters, according to the International Energy Agency (IEA).
- Advertisement -

Bitcoin can’t break through $38,000, a key step in attempting a new shot

The main cryptocurrency is trading around US $36,000 this Saturday, after a week marked by instability.

Which countries top the ranking of earnings through Bitcoin

The blockchain company Chainalysis made an estimate of the profits obtained from Bitcoin transactions in 2020 according to the nationality of the investors.

Must read

- Advertisement -

You Might Also LikeRELATED
Recommended to you