Tesla

According to the current statistics, the cryptocurrency fear and greed index has dropped to ‘extreme fear’ levels and has never been seen for more than one year ago. This fear and negative sentiment in the cryptocurrency community has led the price of Bitcoin and other popular digital currencies to fall below the $40,000 mark and it is continuing to plummet more further.

Elon Musk's recent tweet that Tesla would stop accepting bitcoin for the purchase of their electric cars is a bit contrary to the truth about bitcoin mining today and in the near future.

In the past 24 hours, Bitcoin had recorded a low of $54,071 and Dogecoin touched a low of $0.4213. Bitcoin dropped about 5% overnight on Monday. Generally, the entire cryptocurrency market has started to bear down, but influence from a few popular billionaires is trying to recover the market again.

Tesla sold 10% of its Bitcoin holdings to demonstrate the liquidity of the cryptocurrency as a cash alternative. This has caused a short-term drop in the coin’s price. But despite BTC having partially recovered from the low, it can not linger above $55,000 and start an uptrend.

Bitcoin is regarded as the leading cryptocurrency and is seen by many as the most profitable. Many companies have begun accumulating bitcoin, with Tesla recently purchasing vast amounts of bitcoins.

Hackers broke into hundreds of security-cameras belonging to carmaker Tesla Inc., to gain access to the data collected by Verkada Inc., to prove the pervasiveness of video surveillance, and also expose the vulnerability existing in the walls of cybersecurity of these systems.

The price of Bitcoin is usually influenced by a confluence of factors. Sometimes, even a personal opinion can have serious impacts on prices and make them crash or skyrocket.  If a person is important enough.

Tesla is planning to deploy blockchain’s potential to increase the speed of order processing and shipment of raw materials to boost car manufacturing and minimize time wastage.

Recently, it was discovered that a digital currency scam called the "Bitcoin Era" goes on to attract many targets with new techniques, including the use of the names of Tesla founder Elon Musk and Hollywood star Daniel Craig, according to Business Insider.