BITCOIN

IN DECLINE

After the knockout blow, Bitcoin does not react and drags the other cryptocurrencies

Bitcoin (BTC) continues its decline after the sharp drop in its price caused by the highest year-on-year inflation data in the United States in 13 years and the announcement of the electric car company Tesla that it will stop accepting cryptocurrency as a form of payment.

The largest cryptocurrency is trading below $ 50,000 in a crypto market that is undergoing a correction.

BITCOIN IS

OVER?

Last night it had lost more than 20% of its value in hours and reached a price of $ 47,376 per unit, 18.33% less than the almost $ 58,000 for which it was sold at noon, its lowest price since the end of April when he had also suffered a similar fall.

Bitcoin starts to be rejected

The final blow for Bitcoin came when Tesla, the company chaired by the influential Elon Musk, announced that it will stop accepting BTC as a form of payment for its cars due to the high energy consumption and use of fossil fuels that mining of this uses. cryptocurrency.

The environmental impact of bitcoins

According to an analysis by the Center for Alternative Finance at the University of Cambridge (CCAF), if bitcoin were a country, it would consume more electricity per year than Finland, Switzerland or Argentina