3 reasons why Bitcoin doesn't care about Elon Musk

Cointelegraph

Published May 13, 2021 04:28AM ET

Updated May 13, 2021 06:00AM ET

Bitcoin (BTC) dived 17% when Tesla (NASDAQ:TSLA) CEO Elon Musk criticized its energy consumption — but it's already bouncing back.

On May 13, fresh from its dip to $45,60, BTC/USD is trading above $51,000, having regained over half its lost ground.

Bitcoin 7-day average hash rate 1-year chart. Source: Blockchain
BTC/USD 1-week candle chart (Bitstamp) with 21-week exponential moving average. Source: Tradingview

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