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

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


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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.

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