The price of bitcoin has continued the drop over the weekend and reached a three-month low below $43,000 early Monday morning UTC time.

The price of the world’s largest cryptocurrency by market capitalization has plunged by over 10% in 24 hours to $43,000 as the slump continued since mid last week when Elon Musk said on Twitter that Tesla suspended accepting bitcoin as a payment method.

Bitcoin is changing hands around $43,300 as of press time after reaching as low as $42,141 on Coinbase Pro, which is down more than 30% from its recent high of around $64,000. Data from CoinGecko shows it is right now the lowest point since early February.

The price drop since last week extended over the weekend when Elon Musk further hinted on Twitter that Tesla may sell the remaining portion of its bitcoin holdings even though he said last week that he and Tesla would hold on to their crypto holdings.

Musk’s latest twitter response also came after an increasing level of criticism by Crypto Twitter, especially by some bitcoiners, over his reversed attitude towards bitcoin, including Musk’s concern over bitcoin mining’s energy issue, which led to Tesla’s suspension of bitcoin as a payment.

Leave a Reply

Your email address will not be published.