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 | 82% | 25 | $64 115.65 | 0.98% | -1.14% | $1 262 463 975 094 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 76% | 46 | $3 124.66 | 1.36% | 0.84% | $381 363 010 827 |  |
|
| 3 |  USDT |
Tether predictions | 93.6% | 1 | $0.999854 | -0.03% | -0.08% | $110 447 420 801 |  |
|
| 4 |  BNB |
Binance Coin predictions | 85.2% | 20 | $602.82 | -0.47% | 7.79% | $88 952 185 222 |  |
|
| 5 |  SOL |
Solana predictions | 66.4% | 71 | $142.46 | -0.84% | -1.73% | $63 703 839 151 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.4% | 2 | $0.999870 | -0.07% | -0.01% | $33 395 584 361 |  |
|
| 7 |  XRP |
XRP predictions | 68% | 68 | $0.521978 | 0.93% | 4.27% | $28 776 208 972 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 69.2% | 65 | $0.149772 | 1.00% | -1.91% | $21 573 507 697 |  |
|
| 9 |  TON |
Toncoin predictions | 68.4% | 65 | $5.37 | 3.44% | -25.12% | $18 635 032 400 |  |
|
| 10 |  ADA |
Cardano predictions | 62.4% | 77 | $0.466874 | 0.48% | 0.08% | $16 636 554 038 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 62.8% | 82 | $0.000026 | 3.92% | 11.81% | $15 051 421 388 |  |
|
| 12 |  AVAX |
Avalanche predictions | 65.2% | 75 | $35.10 | 0.60% | -1.04% | $13 276 150 974 |  |
|
| 13 |  TRX |
TRON predictions | 87.6% | 21 | $0.118178 | 3.18% | 8.40% | $10 348 521 458 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 89.6% | 18 | $0.117768 | 2.86% | 8.26% | $10 312 611 072 |  |
|
| 15 |  STETH |
Lido stETH predictions | 95.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
