Bitcoin
BTC$19 601.45

1.08%

Ethereum
ETH$1 069.36

1.22%

Tether
USDT$0.998838

-0.01%

USD Coin
USDC$1.000222

0.01%

Binance Coin
BNB$222.98

5.98%

Binance USD
BUSD$1.001650

0.21%

Bitcoin loses 6% in an hour after Tesla drops payments over carbon concerns


13 May 2021

#Bitcoin

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.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 53.6% 94 $19 601.45 1.08% -6.16% $374 035 671 245 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 58.8% 91 $1 069.36 1.22% -6.90% $129 781 761 094 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $0.998838 -0.01% -0.05% $66 155 226 088 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $1.000222 0.01% 0.01% $55 814 989 943 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 59.6% 84 $222.98 5.98% -3.62% $36 406 780 076 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $1.001650 0.21% 0.09% $17 576 185 471 BUSD 7 days price change
7 Cardano (ADA) ADA Cardano predictions 62% 77 $0.456735 1.28% -7.20% $15 498 880 430 ADA 7 days price change
8 XRP (XRP) XRP XRP predictions 66.4% 72 $0.318666 0.10% -14.11% $15 405 296 738 XRP 7 days price change
9 Solana (SOL) SOL Solana predictions 62% 74 $33.22 4.79% -13.37% $11 402 674 515 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 63.6% 76 $0.066230 1.84% 1.89% $8 786 721 543 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 96% 1 $1.000583 0.09% 0.06% $6 781 768 129 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 64.4% 72 $6.79 0.01% -14.24% $6 708 513 693 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 55.2% 91 $0.065271 2.22% 1.89% $6 037 017 196 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 74.8% 55 $6.05 2.00% 4.28% $5 770 009 473 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64% 71 $0.000010 2.69% 0.29% $5 612 816 170 SHIB 7 days price change

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