Bitcoin is rising more than 10% in just 24 hours and almost 30% in the last week. Tesla invested $ 1.5 billion in January, but they spoke about the investment in February.
Bitcoin (BTC) skyrocketed its price again, marking a new all-time high in price this Monday, after the announcement of an investment by Tesla for more than 1.5 billion dollars in BTC.
Although the purchase happened in January of this year, it was not until this Monday that it became public, as reported by CriptoNoticias on Monday morning. And within a couple of hours after the news aired, bitcoin’s price went from $ 39,000 to momentarily surpass $ 44,000. It even approached $ 45,000 on the exchange with an enormous trade volume in the market, Binance.
The price of bitcoin stood at about $ 43,000, still above the previous all-time high of just over $ 42,000. It increased over 11% with this recent boost, in data from CoinGecko. The current price marks about $47,415.90.
In recent days, BTC had been recovering after correcting even up to $ 30,000. But the news from the company led by Elon Musk seems to have fueled enough to resume the upward pace with which it started this year. During the last week, the increase in the paramount cryptocurrency price on the market is almost 30%.
There is a Settlement of More than 500 Million Dollars
A week ago, Musk already appeared to have boosted the BTC price from $ 32,000 to $ 38,000 in a matter of minutes. The rise at that time came after the businessman changed his Twitter biography and mentioned bitcoin.
On that occasion, in just 10 minutes, there was a liquidation of $ 57 million in bear positions on Binance. Short parts are bets on the decline in an asset’s price, which settles (the trader loses his capital) if a rise happens at a specific price.
Now, the same thing happened, but on the OKEx exchange. As the co-founder of Glassnode @ n3ocortex pointed out, the sudden surge in bitcoin liquidated short positions for about $ 57 million almost instantly.
Bitcoin is Unstoppable, and the Currency Might be Heading to $ 50,000
According to various analysts in the bitcoin environment and the financial world, this year’s bullish expectations seem very promising. Willy Woo, recognized for his metrics to analyze bitcoin’s behavior, is one of those who maintain a more encouraging bullish stance.
Since last year, the researchers have been making some predictions about BTC prices above $ 100,000 in 2021. According to data, there was already a profit-taking period after the previous all-time high, and now the new target price is circling $ 56,000. Also, a strategist at Bloomberg noted a couple of days ago that bitcoin is about to hit $ 50,000 in the days to come.
By: Jenson Nuñez
