Bitcoin price crash live: Latest BTC and Dogecoin price updates

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The crypto market is facing a difficult day amid ongoing concerns about the cryptocurrency’s climate impact and further comments from Elon Musk.

Mr Musk, who has become more publicly skeptical about Bitcoin in recent days, initially suggested that Tesla could have sold its huge Bitcoin holdings. He later denied it, which helped the price stabilize but not recover.

This is followed by public statements from the Tesla CEO that he is concerned about the climate impact of the cryptocurrency. He’s also said he’s working on making it cleaner, including discussions with engineers working on Dogecoin.

The latest comments are at a difficult time for the cryptocurrency market. Overall, it is down 8.23 ​​percent on the last day and lost $ 2.1 trillion, according to tracking website CoinMarketCap.

That hit every major cryptocurrency. Bitcoin was down 8.5 percent, Ethereum 9.3 percent, and Dogecoin continued to struggle after losing 5.5 percent the previous day.

Even Cardano – which is promoting itself as a sustainable coin and has weathered some of the losses that hit others – fell more than 9 percent, though it’s still up nearly 25 percent over the past week.

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Will Bitcoin Recover?

Will the current decline in the Bitcoin price terminal continue, or at least for a while? Here’s advice from the experts – “When in doubt, downsize”.

Andrew GriffinMay 17, 2021 4:18 pm

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Asset managers say they avoid cryptocurrencies

“Our stance with clients is the ten-foot-pole rule: stay away from it,” Jason Pride, Glenmede’s chief investment officer, private wealthy told the FT. “I don’t think the Fed and other regulators are fans of the current structure of the cryptocurrency market.”

Even the more positive money managers raised concerns about whether Bitcoin would be a safe investment.

“We refer to Bitcoin as a store of value aimed at and it is a youngster in terms of its evolution due to its extreme volatility,” said Tom Jessop, director of digital assets at Fidelity. “Some investors are willing to accept the volatility as they see Bitcoin as a long-term risk opportunity.”

Andrew GriffinMay 17, 2021 Jun 15

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Musky tweet stops but doesn’t turn back

It’s been a while since Musk’s tweets this morning. While they helped stop the slump, they did nothing to reverse it – the price was still 9% down on the last day and the market was down 8.24%, according to CoinMarketCap.

Andrew GriffinMay 17, 2021 11:25 AM

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Musk suggests that Tesla may have sold Bitcoin holdings – and then denies it

Musk denied it. That helped stabilize the price – but didn’t bring back any of its losses on the last day. Bitcoin was down 8.4 percent on the last day, and the market as a whole fell roughly the same, according to CoinMarketCap.

Andrew GriffinMay 17, 2021 8:58 am

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Andrew GriffinMay 17, 2021 8:41 am