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The reason for the dip is not immediately clear but it remains a delicate time for the market, with whichever direction it takes from here potentially confirming a longer term trajectory.
Early bitcoin advocate and financial journalist Max Keiser suggested the bitcoin community could easily step in, should this be the case. The Layer 2 payments network significantly improves the efficiency of bitcoin transactions, with some claiming it is the key to transforming the cryptocurrency into a day-to-day currency.
You can read more about it here. Twitter Bitcoin Mining Council will not include Elon Musk Elon Musk will yead be involved with the Bitcoin Mining Council, which has been set up to address the environmental concerns surrounding the cryptocurrency. It is open to any bitcoin miner and will hold quarterly meetups to discuss industry trends. The extent of his involvement was joining an educational call with a group of North American companies to discuss bitcoin mining.]