The world’s biggest cryptocurrency, Bitcoin, is edging towards a $40,000 mark despite dropping by about 1.73% on Wednesday evening to close at $38,074.46, as cryptocurrencies continue to recover.
Bitcoin was up 4.2% to trade at $40,500 on Wednesday morning, while Ethereum, the second-biggest cryptocurrency by market capitalisation, was up roughly 9.4%, trading at $2,896.
Earlier, Bitcoin prices had crashed when Tesla said it would stop accepting the crypto due to concerns about its high energy consumption.
Ether, the coin linked to the Ethereum blockchain network, dropped by over 2.70% to close at $2,712.78 on Wednesday evening, dropping over $65 in the last 24 hours.
