Enjin Coin Cryptocurrency is currently on bearish momentum by 19.98% in the last 24 hours. At 05:50 EST on Thursday, 13 May, Enjin Coin is at $2.01.
Currently, Enjin Coin has 182342 Twitter followers and 31293 Reddit subscribers.
As of now, on Github, there are 119 forks, 205 stars, and 33 subscribers.
Crypto Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Enjin Coin’s crypto is considered to be overbought (>=80).
News about Bitcoin
Bitcoin recoups some losses after musk-triggered tumble. According to FX Empire on Thursday, 13 May, "We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel," Musk wrote."
Musk’s Bitcoin concerns sink crypto-linked stocks. According to Bloomberg Quint on Thursday, 13 May, "That puts him at odds with ARK Investment Management LLC’s Cathie Wood, who last month shared research that she said would "debunk the myth that Bitcoin mining" is bad for the environment. ", "Musk said in his post that Tesla wouldn’t be selling any Bitcoin and aimed to use it for transactions once mining shifted to a more sustainable energy. "
Musk says Tesla suspending Bitcoin purchases, citing energy use. According to Bloomberg Quint on Wednesday, 12 May, "Optimism grew after Mastercard Inc., Bank of New York Mellon Corp. and other firms moved to make it easier for customers to use cryptocurrencies, fueling the mainstream resurgence that took Bitcoin from about $29,000 at the end of last year to as high as almost $65,000 on April 14. ", "The company’s website still had information about how to make payments via Bitcoin after Musk’s tweet."
SEC warns of Bitcoin futures risks in mutual fund investments. According to Bloomberg Quint on Tuesday, 11 May, "The U.S. Securities and Exchange Commission has a blunt message for investors in mutual funds that have holdings in Bitcoin futures: Beware of the risks.", "His early comments have thrown cold water on speculation that the SEC would quickly approve a Bitcoin exchange-traded fund. "
Bitcoin isn’t behaving as an inflation hedge. its move still makes sense. According to Bloomberg Quint on Wednesday, 12 May, "So from that perspective it looks like Bitcoin is simply behaving as a risky,speculative asset, which both explains its action today and also over the last year. ", "Of course, gold, highly speculative tech, and Bitcoin all have something in common, which is that they don’t generate cash flow in the here and now. "
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