The Bitcoin (BTC/USD) has been falling since Elon Musk tweeted that his value “seems high” during the weekend. After surpassing $ 58,000 and a valuation of more than $ 1 trillion, the granddaddy of cryptocurrencies has collapsed more than $ 10,000.
BTC / USD has fallen below the 50-period simple moving average on the 4-hour chart and the Momentum has turned lower. At the time of writing, has reached a low of $ 36,780, seen on Coinbase, before bouncing.
Update: BTC has been able to regain the round level of $ 50,000 and it is trading around $ 51,000, but volatility remains high.
Musk also mentioned Ethereum in that tweet, which added pressure on creating Vitalik Buterin, that has fallen below $ 1,700. The Tesla founder continues to promote Dogecoin, and that cryptocurrency is also under pressure.
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