(Bloomberg) Bitcoin and Ether remain under pressure after a bruising U.S. session that left much of the cryptocurrency community in shock.The two leading digital tokens slipped back toward this week’s lows during Asian trading before rebounding. Bitcoin dropped as much as 8.7% but subsequently climbed to trade around the $40,000 mark as of 2:20 p.m in Hong Kong. Ether slumped as much as 15% but later pared that decline.Cryptocurrencies are reeling after Tesla Inc. founder Elon Musk complained about the fossil-fuel usage implied by Bitcoin’s energy needs while reversing his pledge to allow purchases of cars with the largest token. The People’s Bank of China added to the negative sentiment by reiterating that digital tokens can’t be used for payments.Still, those catalysts don’t entirely explain the rout that took place Wednesday, which saw a plunge of 31% followed by a rally of about the same percentage. Leveraged investors and the spike in volatilit
Will Bitcoin s drop go all the way to $30,000? No one s counting it out for good
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Crypto recipe for disaster keeps bitcoin, ether under pressure
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