It has been a hell of a month for cryptos: Bitcoin has lost 41% of its value in a mere 5 weeks. Major sell-offs started when the CEO of Tesla announced that the company will stop accepting Bitcoins as payment, citing environmental concerns because of the large energy consumption needed for crypto mining.
China has also taken steps to discourage crypto mining and prevent the adoption of cryptocurrencies as a method of payment for businesses within its borders triggered a wave of sell-offs across the crypto sphere.
