Crypto limps to weekend after hammer blows from Musk, China, tax
The Edge Markets - Technology·2021-05-22 05:09
(May 21): The cryptocurrency market nursed its wounds Friday after a week of pain triggered by a Chinese regulatory warning shot, forced selling and a possible U.S. tax clampdown.
If that wasn’t enough, Bitcoin believers are still fuming after onetime proponent Elon Musk did an about-face and criticized the token for its energy usage. Bitcoin fluctuated around $40,000 in Asian trade, down about 9% on the week though up from a Wednesday plunge toward $30,000. Other coins have slumped too, such as Ether’s 17% weekly nosedive.
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