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                       Cryptocurrencies' Rollercoaster Continues

18 moving bitcoin is just another day for bitcoin right what are we seeing in the latest round of volatility yeah for experienced investors in the coin a lot of new investors however i've never seen this kind of dust up as you mentioned another stomach turning ride for investors because the extreme volatility that we saw last week intensified just carried through the weekend where we saw moves in double digits almost either way as we recall it was last wednesday alone that the price wings uh were at least 30 percent in either direction of course one of the kickoffs to this latest round of volatility had to do with elon musk tweeting that he was no longer going to accept bitcoin as payment for his cars we also had the chinese government talking about a crackdown a warning they reiterated on Friday which intensified the slide reiterating a warning that it intends to crack down on crypto mining as part of an effort to Control financial risk now musk tweeted over the weekend that he supports crypto in the battle against fiat currencies saying he believes that's the true battle but this who be uh that's now crossing has renewed some of the selling if we go into the bloomberg you can see it's been one of the worst weeks and therefore months for bitcoin. uh to put it in perspective though while we have seen bitcoin down as much as 50 percent from its peak. it is still up more than 25 percent just in the past year and dogecoin which was begun as a joke also down some 15 percent at one point from its may peak is up several thousand fold are from where it began and so as many investors are are repelled by the volatility it is those kind of gains that's retracting so many on the retail level which the experts say is some of the most recent speculation we're seeing so sue tell us a little bit more about the move by hopiana a possible fix in the works for the energy use issue yeah well let's start with roby because uh what we're hearing uh and this is a report coming out of coindesk which says it got it directly from the crypto uh exchange it says that coolboy is scaling back uh many of its products in some markets and that's following the warning from the chinese government that it would crack down on cryptocurrency mining uh it is suspending minor hosting in mainland china it however will not be stopping the sale of crypto mining machines again all of that according to coindesk meanwhile as we know what really kicked off a lot of the concerns which elon musk put forward were the energy use of many uh uh cryptocurrencies mainly bitcoin uh users and developers of a big rival to bitcoin which we've seen perform a lot better in recent weeks is ethereum otherwise known as ether and users developers now say that several recent breakthroughs will finally enable them to drastically cut energy use in a year or less both bitcoin and ethereum operate using what's called a proof-of-work system that requires a global network of computers running around the clock and a lot of people say for ethereum there's a closer.