The Price of Bitcoin crashes as one of the investors cum developer; Elon Musk announced some hours ago that his company; Tesla wouldn't be accepting Bitcoin as a form of payment again.
The Tesla CEO said the reason for the decision is due to the amount of energy being used to mine bitcoin a situation that's affecting the environment.
It will be recalled that Musk announced in March that people can start buying Tesla car with bitcoin.
Sequel to the announcement, the price of BTC crashes from 56,000 to 46,000 before moving back to 50,000. And because of the dominance of BTC in the Crypto space, many if not all the Alternative coins also crashed or still crashing deeply.