Bitcoin Rises on Positive Twitter, Tesla Reviews

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The price of Bitcoin, the world’s most popular cryptocurrency, has appreciated 16.06% in the past 24 hours, hitting the $ 40,000 mark after falling sharply in the past 30 days because of market sentiment.

The currency is traded for $ 39,771.38 per BTC at 8:52 p.m. Nigerian time, according to data from coinmarketcap.com.

According to published data, the digital currency has seen an intraday low of $ 34,312.83 and a high of $ 40,499.68 in the past 24 hours.

The price of digital currency has fallen 38.68% after hitting an all-time high of $ 64,863.10 on April 14, three months ago.

The unusual price swings of Bitcoin, noticed since the start of the year, have also prompted critics to suggest that it is not suitable to be an efficient and sustainable currency to adopt as fiat due to its high volatility and of its anonymous transaction mode.

A series of positive reports in recent days have helped the currency regain some momentum for the first time since May.

Last week, Tesla boss Elon Musk said the automaker would likely resume accepting bitcoin once it does its due diligence on its energy use. Tesla suspended payments in May, according to Reuters.

Jack Dorsey also said that Bitcoin is a “big part” of the future of Twitter. London-based City AM newspaper reported on Sunday, citing sources, that Amazon plans to accept bitcoin payments by the end of the year.

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