Bitcoin was down about 5.6 per cent after plunging as much as 17 per cent earlier on Feb 22. - Reuters
NEW YORK (Bloomberg): Elon Musk's embrace of bitcoin earlier this month rocketed the cryptocurrency almost 50 per cent higher to more than US$58,000. His cold shoulder this weekend whipsawed the largest digital asset.
Bitcoin dropped as much as 6 per cent in Asia trade on Tuesday (Feb 23) and was trading around US$52,000. On Monday, it plunged at one point as much as 17 per cent to below US$50,000, giving up more than US$8,000 in a matter of hours after the world's richest man tweeted his concern that the price had risen too high too quickly.
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