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 | 53.6% | 94 | $19 601.45 | 1.08% | -6.16% | $374 035 671 245 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 58.8% | 91 | $1 069.36 | 1.22% | -6.90% | $129 781 761 094 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $0.998838 | -0.01% | -0.05% | $66 155 226 088 |  |
|
| 4 |  USDC |
USD Coin predictions | 91.2% | 1 | $1.000222 | 0.01% | 0.01% | $55 814 989 943 |  |
|
| 5 |  BNB |
Binance Coin predictions | 59.6% | 84 | $222.98 | 5.98% | -3.62% | $36 406 780 076 |  |
|
| 6 |  BUSD |
Binance USD predictions | 90.8% | 1 | $1.001650 | 0.21% | 0.09% | $17 576 185 471 |  |
|
| 7 |  ADA |
Cardano predictions | 62% | 77 | $0.456735 | 1.28% | -7.20% | $15 498 880 430 |  |
|
| 8 |  XRP |
XRP predictions | 66.4% | 72 | $0.318666 | 0.10% | -14.11% | $15 405 296 738 |  |
|
| 9 |  SOL |
Solana predictions | 62% | 74 | $33.22 | 4.79% | -13.37% | $11 402 674 515 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 63.6% | 76 | $0.066230 | 1.84% | 1.89% | $8 786 721 543 |  |
|
| 11 |  DAI |
Dai predictions | 96% | 1 | $1.000583 | 0.09% | 0.06% | $6 781 768 129 |  |
|
| 12 |  DOT |
Polkadot predictions | 64.4% | 72 | $6.79 | 0.01% | -14.24% | $6 708 513 693 |  |
|
| 13 |  TRX |
TRON predictions | 55.2% | 91 | $0.065271 | 2.22% | 1.89% | $6 037 017 196 |  |
|
| 14 |  LEO |
UNUS SED LEO predictions | 74.8% | 55 | $6.05 | 2.00% | 4.28% | $5 770 009 473 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 64% | 71 | $0.000010 | 2.69% | 0.29% | $5 612 816 170 |  |
