Bitcoin steadied after Elon Musk said Tesla hasn’t sold from its holdings of the token, clarifying earlier comments that seemed to imply the electric vehicle maker may sell or has sold its stake.

The largest digital currency was at $44,900 (R637,000) up to 7.21am in London on Monday, after Musk in a tweet said: “To clarify speculation, Tesla has not sold any bitcoin.” Earlier, the token slid to $42,185 (R595,000), the lowest since February. It’s about $20,000 (R283,000) off the record set in April...


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Category: News | Views: 162 | Added by: danyagames2007 | Date: 18.05.2021 | Comments (0)

NEW DELHI : The cryptocurrency market, especially bitcoin, has taken a turn for the worse over the last week after Tesla chief Elon Musk expressed concerns over its power consumption. The digital asset has slumped more than 20% over the last seven days to hit a low $43,780.83, while its dominance has plunged to a three-year low of 40%. Moreover, the sentiment for bitcoin has hit the "extreme fear" level, the lowest since last April.

However, recent data has shown that despite the fear, mostly newer market entrants have panic sold and realized losses, while long-term "hodlers" appear relatively unfazed by the news.

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‘Hodl’ stands for “hold on for dear life", which suggests that one is holding on to their crypt ... Read more »

Category: News | Views: 194 | Added by: danyagames2007 | Date: 18.05.2021 | Comments (0)

The future of money apparently looks something like this: Tesla Inc. techno-king Elon Musk posts a one-word tweet — “Indeed” — that suggests his company may have sold its stash of Bitcoin. The cryptocurrency’s price sinks to a three-month low. Musk then posts a new tweet, clarifying that Tesla hasn’t sold any. Prices perk up again.

Cue much gnashing of teeth as Bitcoiners, already incensed by Musk’s attack on the cryptocurrency’s wasteful carbon footprint last week, cry foul over the billionaire’s outsize market influence. As tiresome as it is to see Musk repeatedly toy with markets via his 55 million followers, it’s hard to feel sorry for the crypto-punters.

Musk’s trolling keeps undermining the insistence of true Bitcoin believers that their favorite token is bigger than any individual, and that the recent price boom is based on solid fundamentals. The original cryptocurrency’s recent 20% drop ... Read more »

Category: News | Views: 162 | Added by: danyagames2007 | Date: 18.05.2021 | Comments (0)