Cryptocurrencies limp into the weekend
Bitcoin and ether stabilise after Tesla founder Elon Musk suspends bitcoin payments
21 May 2021 - 09:57
New York — The cryptocurrency market nursed its wounds on Friday after a week of pain triggered by a Chinese regulatory warning shot, forced selling and a possible US tax clampdown.
If that was not enough, bitcoin believers are still fuming after onetime proponent Elon Musk did an about-face and criticised the token for its energy usage. Bitcoin fluctuated around $40,000 in Asian trade, down about 9% on the week though up from a Wednesday plunge towards $30,000. Other coins have slumped too, such as ether’s 17% weekly nosedive...
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