Bitcoin Saw Little Improvement In Asian Markets On Thursday
Bitcoin saw little improvement in Asian markets on Thursday. A tweet from Elon Musk and the Bitcoin scramble, with subsequent improvements; Also huge fluctuations in Ether.
Bitcoin saw little improvement in Asian markets on Thursday after rolling down to 17 percent and trending closer to $ 50,000.
Bitcoin was down 17 percent following Elon Musk’s announcement that Tesla Inc had stopped accepting Bitcoin for the sale of its vehicles.
According to Musk, the decision has been taken due to climate concerns. Musk’s tweets in this regard fell from $ 54,819 in the world’s largest cryptocurrency to $ 45,700 within just two hours.
This was the lowest level of Bitcoin since March 1. After a fall of about half an hour, it showed improvement.
A similar pattern was observed in the trading of Ether, the world’s second-largest cryptocurrency. It also dropped 14 percent to $ 3,550. However, the bounce-back was pegged at $ 3,965.
Earlier Musk tweeted, “We are concerned about the increasing use of biofuels and especially coal for Bitcoin mining and transactions.” Burning coal has the worst emissions than any other fuel. ”
The same year Tesla announced that it had purchased $ 1.5 billion worth of Bitcoin and would accept Bitcoin for car payments.
After this announcement by Musk’s company, the price of this cryptocurrency had seen a tremendous jump this year.
Similarly, cryptocurrency rolled off badly after Musk’s recent tweet. However, he did state that Tesla would not sell any Bitcoin.
He also said that if the mining activity is shifted to more sustainable energy, the company will start accepting Bitcoin again.
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