cryptocurrency

You can add another item to the list of assets with surging prices: diamonds.

Bitcoin jumped above US$39,000 ($51,720.24) after Elon Musk said Tesla would resume transactions with the cryptocurrency when mining is done with more clean energy.

Another bad week for Bitcoin could be a precursor of more pain to come, according to strategists watching the selloff in cryptocurrencies.

Bitcoin enthusiasts are in the middle of an existential crisis. Since its mid-April high, the price of Bitcoin has tumbled by as much as 47%.

Photo: Bloomberg

A lull in Bitcoin’s wild swings in recent days has been taken by some as a tentative sign the fragile digital currency could recover.

Photo: Bloomberg

Assets driven by emotion and momentum have seen their prices surge “to the moon”, as many Redditors and Robinhood traders like to describe the phenomenon.

Photo: Bloomberg

Photo: Bloomberg

Photo: Bloomberg

Bitcoin’s extreme volatility carried into the weekend as the world’s largest cryptocurrency continued to whipsaw investors with double-digit percentage moves.