Crypto Limps to Weekend After Hammer Blows From Musk, China, Tax
- Date: 21-May-2021
- Source: Yahoo News
- Sector:Economy
- Country:Middle East
Crypto Limps to Weekend After Hammer Blows From Musk, China, Tax
(Bloomberg) --
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.