Bitcoin price takes a hit on Musk tweet
Bitcoin is on track for its best weekly gain in about a month
Crypto bubble could burst, market expert says
Kaltbaum Capital Management President Gary Kaltbaum provides insight into today’s market.
Bitcoin was trading more than 5% lower on Friday morning.
The price was around $38,798 per coin, while rivals Ethereum and Dogecoin were trading around $2,641 and 36 cents per coin, respectively, according to Coindesk.
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A tweet from Tesla CEO Elon Musk sent Bitcoin and other cryptocurrencies spinning.
He sent out a tweet that some took as a hint he was breaking up with Bitcoin.
The tweet had a heartbreak emoji above a meme showing a couple discussing their breakup.
Musk has turned critical of bitcoin since suspending Tesla plans to take it in payment for cars on concerns about its energy use.
Bitcoin is on track for its best weekly gain in about a month.
COINBASE ADDS DOGECOIN TO PLATFORM AMID SURGE IN INTEREST
Dogecoin, which Musk has also supported, got a boost during the day on Thursday after the cryptocurrency trading platform Coinbase began accepting transactions involving it.
That means Coinbase customers would be able to buy, sell, convert, send, receive or store Dogecoin on its core website and apps as well as its Coinbase Pro product.
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A single Dogecoin was worth 40 cents as of Thursday afternoon, falling 13% to 36 cents Friday morning.
Dogecoin has surged more than 6,000% so far this year.