Bitcoin was last down about 3.6% at $37,809. Musk tweeted "#Bitcoin" and a heartbreak emoji above a meme appearing to show a couple discussing their breakup. Bitcoin is up 6.3% this week.
The cryptocurrency market remains fairly steady on Wednesday even as Bitcoin and Ether are trading marginally lower. Bitcoin remains above $36,000 while Dogecoin is up by over 15 per cent.
Bitcoin, the world’s most popular cryptocurrency, was trading just above $38,000 at around 9:25 am. Ethereum price has also rebounded today. However, investors should note that volatility in the crypto market remains on the higher side at the moment.
LONDON: Bitcoin price slumped on Friday to its lowest this week, taking losses sparked by a growing crackdown in China and environmental concerns to almost 40 per cent so far this month. The biggest cryptocurrency extended earlier losses, falling as much as 8.2 per cent to $35,339 as it stayed pinned in this week s relatively tight trading range. It was last down 6.2 per cent. Bitcoin is currently in a bit of slumber mode trading in the range of $34,000 and $40,000, said Ulrik Lykke, executive director at crypto hedge fund ARK36. Many traders are acknowledging that price seems to be range-bound for the moment, why they may be hesitant to take a position with high conviction.