Raoul Pal wants Bitcoin investors to mobilize their trades against Elon Musk. The macro investment strategist advised traders to either accumulate or preserve their Bitcoin (BTC) holdings just as the flagship cryptocurrency suffered massive declines over the weekend and at the beginning of this week. In retrospect, bulls came under pressure after Elon Musk started rattling the cryptocurrency market. On May 12, the billionaire entrepreneur reversed his company Tesla's decision to accept Bitcoin payments for its electric vehicles, citing environmental issues related to the Bitcoin mining industry. Nevertheless, he noted that Tesla would keep holding more than a billion dollars' …

Shiba Inu (SHIB) has been the talk of the cryptoverse and mainstream media recently. It is a meme coin themed around the Shibu Inu dog, a Japanese dog breed that Dogecoin (DOGE) is also basing its image on. According to data from CoinMarketCap, SHIB hit its all-time high of $0.0000388 on May 10 after it surged more than 2,500% from trading at $0.00001478 on May 7. The token has now been listed on most of the major exchanges, such as Binance, Coinbase, FTX, OKEx and even Binance’s Indian counterpart, WazirX. It had also briefly broken into the top 20 cryptocurrencies …

Tesla and SpaceX CEO and self-proclaimed "Dogefather" Elon Musk should sell his Bitcoin holdings, said hodlers. A new petition on Change.org is currently gathering signatures to make Musk divest himself of his personal stash of Bitcoin (BTC). "Elon Musk: Sell your Bitcoin" Its goal is modest:100 signatures at first, of which a grand total of 62 have already been gathered. For the creator of the petition, however, billionaire Musk has touched a nerve. "Elon Musk has accumulated at least $1.5bn of bitcoin on the Tesla balance sheet, and very likely has a larger personal holding he has not revealed," its …

Bitcoin (BTC) is nearing $40,000 this week as “Dogefather” Elon Musk deals out pure pain to hodlers — what’s next? After a traumatic weekend for many crypto investors, Monday is setting the stage for the next chapter in the wild 2021 bull market. Cointlegraph takes a look at five factors that could shape what Bitcoin and altcoins do next. Musk tweet hits key Bitcoin technical level It’s all about one man yet again this week: Elon Musk. In characteristic fashion, the Tesla and SpaceX CEO caused uproar on Twitter when he came out bearish on Bitcoin. BTC/USD sold off immediately …

Amid the ongoing concerns over Bitcoin’s (BTC) energy consumption, a new study states that the traditional banking system consumes much more energy than the Bitcoin network. Michael Novogratz’s cryptocurrency firm, Galaxy Digital, released a report Friday titled “On Bitcoin’s Energy Consumption: A Quantitative Approach to a Subjective Question,” providing open-source access to its methodology and calculations. Compiled by Galaxy’s mining arm, the study estimates Bitcoin’s annual electricity consumption to stand at 113.89 terawatts per hour, including energy for miner demand, miner power consumption, pool power consumption and node power consumption. This amount is at least two times lower than the …

Elon Musk appears to have again been the catalyst for Bitcoin’s (BTC) price shedding more than 10% over the weekend after Tesla’s CEO appeared to suggest the firm may be planning to dump BTC from its balance sheet this quarter. On Sunday, Musk replied to a tweet predicting that Tesla may dump its BTC holdings this quarter. To the chagrin of the Bitcoin community, Musk simply replied: “Indeed.” Indeed — Elon Musk (@elonmusk) May 16, 2021 With Musk’s popularity already dwindling within the crypto community after he criticized the energy efficiency of Bitcoin amid Tesla’s suspension of support for vehicle …

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin loses 6% in an hour after Tesla drops payments over carbon concerns Already losing dominance in the crypto rankings as altcoins were gaining strength, things went from bad to worse for Bitcoin this week as Elon Musk made a shock announcement. On Twitter, the billionaire CEO declared that purchases of Tesla cars using BTC …

Who knew what, and when did they know it? Investigating Watergate in 1973, Senator Howard Baker Jr. wanted the answer. Thanks to a couple of journalists, he eventually got it. And while the stakes may not be as high, the team at Cointelegraph Markets Pro is pretty curious about some interesting crypto data this week. The VORTECS™ Score includes sentiment analysis, tweet and trading volume, and price action as components of the algorithm — which are then weighted according to a proprietary formula based on how similar these are to historical conditions. If there is a similarity in these factors, …

The energy consumed by mining — the process that keeps Bitcoin’s blockchain running — has been an increasingly popular topic of discussion in recent weeks. On Friday, CNBC posted an interview with SUKU CEO Yonathan Lapchik, during which he explained the Bitcoin mining scene as it relates to renewable energy. The interviewer noted Lapchik previously claimed that 75% of Bitcoin mining comes from renewable energy. “We think that 75% is an actual figure,” Lapchik told CNBC, “The miners are truly incentivized to use renewable energy." Turning his thoughts to electric car-maker Tesla, which recently announced it would no longer accept …

Beams of light flashing out of a person’s eyes are not an uncommon sight in the world of comic books and superhero movies. In recent months, however, these so-called “laser eyes” have been making the news, not because of a movie or web series, but because of Bitcoin (BTC). To be more specific, an increasing number of celebrities, tech entrepreneurs and media personalities have been adding laser eyes to their profile pictures. This is a symbolic way of showcasing their bullish outlook for BTC and the crypto market in general. While the origin of the meme is unclear, most point …

The founder of one of the first physical cryptocurrency exchanges has slammed what he perceives as hypocrisy on the part of Elon Musk after the Tesla CEO announced the electric car firm would stop accepting Bitcoin (BTC) as a form of payment. The charges of hypocrisy leveled at Musk stem from the fact that around $1.5 billion worth of Bitcoin remains on Tesla’s balance sheet. Musk criticized Bitcoin’s energy consumption in a recent tweet where he announced that Tesla had suspended vehicle purchases using Bitcoin. The sudden reversal by Musk comes just six weeks after Tesla made big news by …

Elon Musk’s latest foray into crypto markets came a few hours ago when he tweeted he is working with the Dogecoin developers to improve the cryptocurrency’s efficiency. “Working with Doge devs to improve system transaction efficiency. Potentially promising.” According to CoinGecko, the price climbed 26% from $0.38 this morning to $0.48 at the time of writing. The tweet’s reference to “efficiency” seemed to lend weight to the idea Tesla may add Dogecoin (DOGE) as a form of payment after the CEO noted on Thursday the firm is looking at greener cryptocurrencies that use less than 1% of Bitcoin’s energy per …