Bitcoin loses 6% in an hour after Tesla drops payments over carbon concerns
Bitcoin has shed nearly 6% in an hour after Tesla suspended its support for payments in BTC. The Bitcoin markets are pulling back after electric car manufacturer Tesla suspended its support for vehicle purchases using BTC.
In a May 13 tweet, Tesla’s CEO Elon Musk noted the company’s concerns regarding the “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.” While Musk predicted that cryptocurrency “has a promising future,” he concluded that the rise of digital assets “cannot come at a great cot to the environment.
However, the firm has not ruled out accepting BTC again in future, with the post noting the firm will resume using Bitcoin “for transactions as soon as mining transitions to more sustainable energy." Musk added:
“We are also looking at other cryptocurrencies that use. On social media, many within the crypto community have contradicted Musk and Tesla’s assertion regarding the environmental impact of Bitcoin mining, with Twitter use “The Wolf of All Streets” noting that “miners primarily use renewable energy.”
However while the 3rd Global Cryptoasset Benchmarking Study by the University of Cambridge in October 2020 showed that up to 76% of cryptocurrency mining uses some renewable electricity, it estimated only 39% of the total power consumed by Proof of Work cryptocurrencies was green energy. As of this writing, BTC has crashed roughly 6% in the past hour, tumbling from $54,800 to roughly $51,600.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 59.2% | 81 | $16 857.94 | 2.52% | 2.13% | $324 016 560 707 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 61.6% | 79 | $1 267.75 | 5.89% | 9.03% | $155 139 205 312 |  |
|
| 3 |  USDT |
Tether predictions | 93.6% | 1 | $0.999743 | 0.01% | 0.07% | $65 345 860 208 |  |
|
| 4 |  BNB |
Binance Coin predictions | 68.4% | 65 | $297.76 | -0.65% | 8.97% | $47 633 708 279 |  |
|
| 5 |  USDC |
USD Coin predictions | 90.8% | 1 | $1.000075 | -0.02% | -0.02% | $43 278 140 161 |  |
|
| 6 |  BUSD |
Binance USD predictions | 92.8% | 1 | $1.000080 | -0.01% | -0.04% | $22 167 145 790 |  |
|
| 7 |  XRP |
XRP predictions | 66% | 66 | $0.402255 | 2.89% | 6.46% | $20 229 424 997 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 57.2% | 85 | $0.106602 | 3.16% | 30.44% | $14 142 989 634 |  |
|
| 9 |  ADA |
Cardano predictions | 60.4% | 81 | $0.314036 | 1.01% | -0.86% | $10 815 310 516 |  |
|
| 10 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  MATIC |
Polygon predictions | 64.8% | 72 | $0.868141 | 3.30% | 0.64% | $7 582 616 669 |  |
|
| 12 |  DOT |
Polkadot predictions | 65.6% | 67 | $5.38 | 2.56% | -0.10% | $6 131 758 632 |  |
|
| 13 |  DAI |
Dai predictions | 91.2% | 1 | $0.999926 | -0.07% | -0.02% | $5 640 260 243 |  |
|
| 14 |  LTC |
Litecoin predictions | 66% | 74 | $78.51 | 1.65% | -3.13% | $5 630 604 788 |  |
|
| 15 |  WTRX |
Wrapped TRON predictions | 66.4% | 66 | $0.053881 | 0.82% | 5.41% | $5 478 359 178 |  |
