The Cryptocurrency market has been freefalled in the days after Elon Musk’s announcement that Tesla would no longer receive Bitcoin as a payment option for the car. Bitcoin, still the most valuable and popular cryptocurrency, briefly down to a low of more than $ 30,000 today before the rebound to around $ 39,000 / coin.
Earlier this year, Tesla made a large Bitcoin purchase and announced that it would receive digital assets as a payment option for vehicle purchases. Only a few months later, however, Musk reversed the decision and announced on Twitter that Tesla would no longer receive cryptocurrency than concerns about fossil fuels used to mine it.
It kicks wide chaos on the Crypto market, which has seen a steady digital coin judgment lasts over the past few days. Bitcoin is one of the most difficult coins by this decline, plunging from a value of around $ 59,000 on May 10 to 24 hours today of $ 30,681, according to coirdarketcap. Digital assets rebound in a few hours, rising back to an unstable value of around $ 39,000 / coin.
Although some cryptocurrency, especially low-value shuttle, have seen small uptick in assessment, most digital assets have dipped substantially during the past week, including Ethereum, Privacy Privacy Monero, Ripple, Dogecoin Meme Coin, Maker, Dash, Dash, Dash, Litecoin , and others.
Large Crypto sell-out causes problems for coinbase, exchange that allows users to buy, trade, and sell digital coins using the telephone application. Exchange experienced a partial blackout yesterday, preventing some users from entering and making it difficult to attract Ethereum. This service is recovered today.