Chinese pressure pushes bitcoin below $30,000

Bitcoin rises 9.8% to 39035

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Bitcoin soared 9.8% on Sunday to $39,035.47, an increase of $3,492.71 from its previous closing price.

Bitcoin is the world’s largest and most famous cryptocurrency, which is up 40.7% from the year low of $27,734 on January 4th.

Ether, a token related to the Ethereum blockchain network, surged 7% to US$2,532.77 on Sunday, an increase of US$165.77 from the previous closing price.

Tesla CEO Elon Musk said on Twitter on Sunday that when miners verifying transactions use more renewable energy, the electric car token will resume allowing bitcoin transactions. Musk has always been the main promoter of cryptocurrency, but since Tesla suspended the plan to use Bitcoin to pay for car expenses, he began to criticize Bitcoin because of concerns that computers used to “mine” Bitcoin use too much energy. .

“When it is confirmed that miners with positive future trends are reasonably (about 50%) using clean energy, Tesla will resume allowing Bitcoin transactions,” he said in a tweet.

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