The past several days didn't go well for the primary cryptocurrency. After touching but getting rejected at the coveted $60,000 price line on Saturday, bitcoin lost roughly $7,000 to just beneath $53,000, as reported yesterday.
In the past 24 hours, the situation seemed somewhat more positive as BTC jumped to nearly $56,000. However, the bears regained control again and drove BTC back down to an intraday low of $53,500.
Approximately at that time, Tesla's Elon Musk said that his electric vehicle giant will officially start accepting bitcoin as a means of payment. Perhaps even more importantly, he noted that all BTC the company receives will be "retained as bitcoin, not converted to fiat currency."
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