Bitcoin’s Price Remains Boxed In Below $51K Over Holiday Weekend

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On Wednesday, we recapped how Tesla’s bitcoin acceptance and Coinbase’s direct itemizing helped ship bitcoin’s worth to a brand new all-time excessive close to $65,000, which turned out, in hindsight, to be the market peak. Today, we’ll present how some merchants and buyers started to money out in April and May as considerations mounted over U.S. capital beneficial properties taxes, bitcoin’s environmental footprint and an outright crypto ban in China. It appeared just like the concern, uncertainty and doubt – FUD, or crypto-speak for damaging information – was coming suddenly.