The value of Bitcoin and Ether both dropped again on Sunday, despite influential Tesla mogul Elon Musk again indicating his support for cryptocurrency. But Bitcoin's value ticked back up slightly Saturday night, to $38,150 before ultimately easing to $37,600 by the night's end, after Musk tweeted his support for cryptocurrencies. He went on to say that Bitcoin mining was starting to use more energy than small countries. 'Bitcoin hashing (aka mining) energy usage is starting to exceed that of medium-sized countries' making it 'Almost impossible for small hashers to succeed without those massive economies of scale.' China is now cracking down on Bitcoin mining and trading as part of ongoing efforts to prevent speculative and financial risks.

Source: Daily Mail May 23, 2021 18:31 UTC