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6/18, 4:58 PM (Source: TeleTrader)
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Bitcoin drops to five-day low of $36,700

The price of Bitcoin continued to drop in a three-day fall reaching a little below $36,700 on Friday with a decline of around 5%. On average the currency has shed nearly $1,000 a day since the beginning of its falling rally.

The negative sentiment is accounted to Elon Musk's Twitter post rhetoric that started on Sunday and mainly focused on the unecological nature of Bitcoin mining. Musk shared that Tesla sold around 10% of its Bitcoin holdings. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions," Musk tweeted.

Bitcoin decreased by 5.22% selling for $36,699 at 10:55 am ET, while Ethereum plunged by 6.02% exchanging for $2,248.

Breaking the News / LH