Bitcoin price plunges after Elon's tweet | Ballina Shire Advocate

Technology
by Andrew Backhouse
 
The price of bitcoin plunged 17 per cent on Monday after hitting a record high of $74,019.31 on Sunday.
The volatile cryptocurrency fell to $65,204.59 before regaining ground. At 7.30am AEDT it was valued at $68,676.84.
The slide came just hours after billionaire Elon Musk tweeted that bitcoin and Ethereum "seem high".
That said, BTC & ETH do seem high lol— Elon Musk (@elonmusk) February 20, 2021
The comment comes after Tesla invested nearly $2 billion in the cryptocurrency. The company has already racked up about $1.26 billion in profits from that investment.
The Tesla CEO's tweets have previously impacted markets - a comment about the Tesla stock price sent it plummeting in May 2020.

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