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What happenedShares of Coinbase Globa; (NASDAQ: COIN) fell 20.5% in May, according to data from S&P Global Market Intelligence. The ascendant cryptocurrency exchange had gone public in April to much fanfare, but ran into a double-whammy of falling cryptocurrency prices and in

The retail industry is looking good as many companies hope the pandemic is making its way into the rearview mirror. Store visits are up, comparable sales are soaring, and many companies are reporting record earnings. Data from Refinitiv indicates that 87% of companies in the S&a

Traders, investors, and smartphone-obsessed consumers will be focused on Apple’s (AAPL) latest keynote address at its 2021 Worldwide Developer Conference that kicks off today.

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Since its heavy decline in late May, Bitcoin has been trading sideways, staying tight in a consolidation between the $34,000 and $39,000 levels. This trend is difficult to read and no one knows which direction it may break toward. However, that does not mean there has been any less news on the famed cryptocurrency.  

Miami: CryptoTown  

This past weekend, on June 4th and 5th, the world’s largest Bitcoin- and crypto-related conference was held in downtown Miami. Powerful figures in the crypto-world were in attendance, including the Winklevoss Twins who cofounded the digital currency exchange Gemini, Bitcoin enthusiast and Twitter Inc. (TWIT) and Square Inc. (SQ) CEO Jack Dorsey, as well as various politicians. 

Several significant announcements were made that fueled the exuberant atmosphere. The President of El Salvador, Nayib Bukele, announced via video that his country will accept Bitcoin as legal tender. Miami mayor Francis Suarez came to stir up the crowd. Suarez had earlier publicized his intent to allow the Miami municipality to partially operate on Bitcoin and cryptocurrencies. Additionally, the CEO of MicroStrategy Inc. (MSTR) participated as one of the keynote speakers.  

Elon Musk, A Divisive Figure  

Throughout the conference, Elon Musk was a hot topic. After his May announcement that his company Tesla Inc. (TSLA) would no longer be accepting Bitcoin as a means of payment, he has fallen out of favor with crypto enthusiasts. 

Musk has been known to swing the price of Bitcoin and other cryptocurrencies with simple and vague tweets. During the hours of the Bitcoin 2021 conference in Miami, Musk tweeted the word #Bitcoin with a broken-heart emoji. Bitcoin’s price fell about $1,000 immediately thereafter, climbed back within 24 hours, and then fell once more to slightly lower levels.  

China Checkmate  

In stark contrast to these optimistic declarative positions, The People’s Republic of China had recently reiterated its opposition to Bitcoin and other crypto-related activity within its borders. 

These kinds of bold statements from the country which had mined almost three quarters of all existing Bitcoins wreaked wreckage on the cryptocurrency. They brought it down nearly 50% in late-May from its mid-April high of nearly $64,000. Bitcoin’s vulnerabilities as a currency and even a store of wealth have come into question as all its Chinese mining facilities must relocate or be forced to shutter.  

Balanced Scales

Bitcoin's path to fulfill its prophesied status as the world's future international currency is no stranger to obstacles. Central banks across the globe would rather retain a tight grip on their national economies, and a decentralized anonymous digital currency would never be adopted quickly or without issue. Yet, the crypto has continued on its march upward.

With each piece of negative media attention comes an equally monumental adoption or institutional investment to counter it. China bans all Bitcoin activity, and El Salvador wants to validate it as a national legal tender. Tesla drops Bitcoin as a means of payment for its electric vehicles, and the city of Miami is looking to pay its municipal workers' salaries with it.

Likewise, the vulnerabilities exposed by Elon Musk's tweets' influence over the coin are only validated because investors react to them. Musk does not dictate Bitcoin's policy or structure, and ultimately does not affect the crypto in any fundamental way, certainly not with emojis in late-night tweets. As Bitcoin's saga moves into the second half of 2021, investors and observers can watch it with fascination.

Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell Bitcoin.

Ford (NYSE: F) stock has risen 10%+ in the last five days. It is interesting to note that the company expects to make half of the cars and trucks in Q2 2021, versus its planned levels. The company has an outlook of producing 700K units in the current quarter, which is 50% lower t

Production for Tesla Inc's longest-range Model S Plaid+ is canceled, CEO Elon Musk said in a tweet https://twitter.com/elonmusk/status/1401641625500229632?s=20 on Sunday.

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Derided by many pundits as a joke digital coin with no real path to gaining stable value, yet defended stoutly by its legion of retail investor fans, Dogecoin (CRYPTO: DOGE) has followed a roller-coaster pattern of massive price surges and dizzying plunges over the past few month

Users of the online forum Reddit have made waves on Wall Street this year, drawing attention to the collective power of individual investors in the process. The social platform helped spark a few short-squeezes earlier in 2021, and it helped fuel cryptocurrency Dogecoin's tremend

Cryptocurrency prices are generally volatile, but the past few weeks have been particularly tough for digital coins. Bitcoin (CRYPTO: BTC), Ether (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) have all lost about 20%-30% of their value since mid-May due to several factors.

In May 2020, a team of developers -- including Ethereum co-founder Gavin Wood -- launched Polkadot (CRYPTO: DOT). This unique cryptocurrency expands on the functionality of its predecessors with the goal of building a decentralized internet. Here's what investors should know.

If you're a Tesla (NASDAQ: TSLA) owner, you may have no clue how much a tank of gas costs. And if you aren't a Tesla owner, you may be painfully aware of the drain on your wallet every time your tank is on E.

Becoming a millionaire on your regular salary may seem impossible -- especially if you need most of your paycheck to cover bills. Side hustles are an increasingly popular way to get ahead. A recent Zapier survey of 2,000 people found that about one-third had a side gig at the beg

What happened Shares of Canaan (NASDAQ: CAN) sank 32.9% in May, according to data from S&P Global Market Intelligence. The crypto mining specialist's stock fell in response to a sell-off for Bitcoin and moves from the Chinese government to limit cryptocurrency mining and adop

What happened Shares of Ebang Holdings (NASDAQ: EBON) fell 29.3% in May, according to data from S&P Global Market Intelligence. The crypto stock pulled back amid sell-offs for the broader cryptocurrency market.

What happened Shares of Tesla (NASDAQ: TSLA) stock shed 11.9% of their value in the month of May. As you can see from the below chart, the declines began early -- but things got really serious in the month's second week.

President Joe Biden's strategy to make the United States a powerhouse in electric vehicles will include boosting domestic recycling of batteries to reuse lithium and other metals, according to government officials.

Global stocks rallied on Friday and closed near all-time highs, and oil and gold rose while the dollar dropped after U.S. jobs data was strong but not as robust as expected, easing investor worries that the Federal Reserve would soon rein in monetary stimulus.