The crash was preceded by a tweet from Elon Musk, in which he claimed that bitcoin and ethereum “appear to be high.”

The value of bitcoin has fallen by more than $ 8,000 in a matter of hours and is now selling for less than $ 50,000, Bloomberg reports. Thus, the cryptocurrency fell more than 16%.

The Coinmarketcap portal confirms that bitcoin fell below 50,000, remaining at $ 48,967. For its part, according to Coindesk, the maximum registered by the cryptocurrency in the last 24 hours has been 58,278 dollars, at 19:14 (GMT) on Sunday. Then it started falling, hitting $ 50,623 at 2:14 PM on Monday.

The crash was preceded by a tweet from Elon Musk, in which he questioned the price of the most popular cryptocurrencies.

“Money is just a piece of data that allows us to avoid the downsides of bartering. That data, like all data, is subject to latency and error. The system will evolve toward that which minimizes both,” the Tesla and SpaceX co-founder wrote in response. to the economist Peter Schiff, who came out in favor of gold, comparing digital currencies to fiat money.

“That said, bitcoin and ethereum appear to be high,” added businessman.

Likewise, the US Treasury Secretary, Janet Yellen, criticized bitcoin on Monday. “It is an extremely inefficient way to carry out transactions, and the amount of energy that goes into processing those transactions is staggering,” he said in an interview with CNBC.

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