Why is bitcoin falling? BTC price crashing in latest blow to cryptocurrency

Donald Trump claims Bitcoin 'seems like a scam'

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Bitcoin has experienced significant change to its price over the past few weeks as a result of comments from SpaceX founder Elon Musk, Chinese regulation announcements and the legalisation of the digital currency in El Salvador. But now the price is falling despite cryptocurrency experts predicting a period of growth for the coin in the coming weeks.

The current price of Bitcoin is $38,753.29 (£27,790.95) , according to CoinMarketCap.com.

The digital coin has dropped in price by 1.03 percent in the past 24 hours.

The price has grown by 2.19 percent in the past seven days, but trends are showing a downward trajectory.

The tumble took place after new comments made by SpaceX founder Elon Musk about the environmental impact of the digital coin.

Mr Musk responded to reports claiming bitcoin is “greener” than critics claim on Thursday.

He hit back at the chief executive of Kraken crypto exchange, Jesse Powell, on June 17.

Mr Power previously said bitcoin is “a lot greener than people give it credit for”.

Responding to the statement on Twitter, Musk said: “Based on what data?”

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