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Bitcoin tanks 10% after Elon Musk says prices seem high – CNBC

Bitcoin plunged Monday, pausing its stunning rally after Elon Musk said prices “seem high.”

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Bitcoin slid Monday, pausing its stunning rally after Elon Musk said prices “seem high.”
The world’s most valuable cryptocurrency sank over 10% to a price of $51,993 Monday morning, according to data from Coin Metrics. At one point, bitcoin had dipped below the $50,000 level, falling as low as $47,700.
It wasn’t immediately clear what was behind bitcoin’s move lower Monday. On Saturday, Tesla’s CEO said the prices of bitcoin and rival token ether seemed excessive. Bitcoin rallied to more than $58,000…

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