The gamification of finance is a worrying trend, and it’s not just restricted to buying and HODLing digital currencies. By Mark Gilbert.
Browsing: Bitcoin
Cryptocurrencies fought to find a footing on Monday after even weekend cheerleading from Tesla boss Elon Musk seemed unable offset selling pressure from spooked investors.
Elon Musk is again tweeting about technology and cryptocurrencies, and this time he’s clear on where his support is at.
The cryptocurrency market nursed its wounds on Friday after a week of pain triggered by a Chinese regulatory warning shot, forced selling and a possible US tax clampdown.
Bitcoin and ether remained under pressure after a bruising US session that left much of the cryptocurrency community in shock.
Virtual currencies are retreating so broadly and sharply, it’s testing the durability of the cryptocurrency boom.
Bitcoin’s volatile week-long slide saw it tumble to below the $40 000 mark on Wednesday on news of further restrictions on cryptocurrency transactions in China.
Promoted | The crypto market’s reaction to the recent ups and downs of cryptocurrencies like ethereum, bitcoin and dogecoin is a case in point of the dangers of emotional investing.
Bitcoin dropped to a three-month low on Monday in the wake of Elon Musk’s hinting over the weekend that Tesla is considering or may have already sold some of its bitcoin holdings.
Having earlier said Tesla would accept bitcoin as payment, Elon Musk this week reversed that position, stating cryptocurrencies’ “promising future cannot come at a great cost to the environment”.