Komodo Cryptocurrency is currently on bearish momentum by 18.76% in the last 24 hours. At 23:03 EST on Wednesday, 12 May, Komodo is at $2.56.
Currently, Komodo has 110364 Twitter followers and 9159 Reddit subscribers.
Crypto Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Komodo’s crypto is considered to be overbought (>=80).
News about Bitcoin
Musk says Tesla suspending Bitcoin purchases, citing energy use. According to Bloomberg Quint on Wednesday, 12 May, "The company’s website still had information about how to make payments via Bitcoin after Musk’s tweet.", "Tesla’s addition of Bitcoin to its balance sheet was the most visible catalyst during this year’s rally in the digital currency. "
Bitcoin (btc) plunges on Tesla Bitcoin suspension, aud/usd spars USD strength. According to DailyFX on Wednesday, 12 May, "Mr Musk noted the environmental impact, saying "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." Tesla’s stock was down just over 1% in after-hours.", "Early Thursday - several hours after the New York closing bell - Bitcoin made a sudden and sharp drop. "
Bitcoin ETF approval odds grow longer after gensler critique. According to Bloomberg Quint on Monday, 10 May, "If Gensler isn’t yet fully comfortable with crypto exchanges, it’s highly unlikely he would bless a Bitcoin ETF.", "Three Bitcoin ETF filings have been acknowledged by the SEC, meaning it has a limited amount of time to either approve or reject the proposals. "
Bitcoin isn’t behaving as an inflation hedge. its move still makes sense. According to Bloomberg Quint on Wednesday, 12 May, "In addition to Bitcoin selling off, we’re seeing tech get hammered (down 2%) and the real speculative stuff like the ARKK exchange-traded fund down over 3%. ", "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. "
Canadian issuer is making its Bitcoin ETF carbon-neutral. According to Bloomberg Quint on Monday, 10 May, "For some investors who are concerned about the carbon footprint of mining, they may be wary of investing in a Bitcoin ETF," said Alex Tapscott, managing director of digital assets at the Toronto-based firm, referring to the vast array of computers worldwide that compete to confirm Bitcoin transactions. ", "The Bitcoin fund is physically-backed and had roughly $320 million in assets when it converted."
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