Having hit upwards of $48,000 on Monday thanks to Tesla’s $1.5 billion buy-in, Bitcoin saw sellers line up closer to the psychologically significant $50,000 barrier. Thereafter ensued a consolidation period which briefly saw a return to near $43,000 in the past 24 hours.
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Elon Musk's Tesla buy pumped BTC to its biggest single-day gain ever on Monday—and the impact is still reverberating (Photo: CoinMarketCap)Markets Report: Bitcoin tipped for $50,000 next as Tesla upends expectations
The shock $1.5 billion from Elon Musk’s company continues to ricochet among investors and mainstream consumers
Bulls were already confident prior to Monday’s news, with Bitcoin passing $40,000 over the weekend. Elon Musk’s company then set the market alight with its filing with U.S. regulators and Bitcoin subsequently hit new record levels of $48,200.
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Markets Report: Crunch time for Bitcoin as Tesla buys $1.5 billion in BTC
Bullish price action meets its match as Tesla appears to commit to a pro-Bitcoin future, buying the cryptocurrency and paving the way for payments
After a promising week’s trading, BTC/USD rose above the upper limit of its $10,000 trading corridor on Saturday before correcting, with $40,000 support still out of reach. A sudden move from Tesla then changed the atmosphere entirely. What’s next?
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Markets Report: BTC rally stalls as Elon Musk removes Bitcoin from Twitter bio
A fresh publicity campaign for Dogecoin by Musk sees wild upside take hold as Bitcoiners pin hopes on MicroStrategy’s evangelism
Bitcoin saw mixed progress on February 4 as a push towards $40,000 combined with yet more controversy over Elon Musk. In the event, growth stalled as the world’s richest man returned to Twitter to boost the fortunes of Dogecoin—and remove “#Bitcoin” from his biography.
