The cryptocurrency market capitalization dumped by almost $200 billion in a day as bitcoin dropped to $58,000 and most alts followed…
The cryptocurrency is down 15% in just a few days.
The price of Bitcoin nosedived after Tesla CEO Elon Musk said his company would no longer be accepting the cryptocurrency as payment due to its ties to fossil fuels.
Prices of bitcoin and other cryptocurrencies tumbled on Wednesday after the Chinese government imposed fresh curbs on banks’ use of digital money, further fueling concerns sparked by tweets of Tesla CEO Elon Musk. Read: Bitcoin Plunges After China Issues New Bans on Cryptocurrency Transactions on Pandaily.