So, we waited for bullish moods to return to the market. If you look at the charts, Bitcoin has crossed the $48,000 bar
This can be seen on CoinMarketCap ($48,004) and CoinGecko ($48,026). Yes, then the cryptocurrency rolled back, as it usually happens after a huge green candle, but trades above $46,200.
So, who is to blame for such a rapid growth of Bitcoin and how strong is the position of the first cryptocurrency? We understand, based on the current situation, of course, Elon Musk’s rocket fuel for the bull market was served by Elon Musk with his announcement yesterday about the 1.5-billion-dollar investment. In principle, Musk’s decision is not surprising.
A whole bunch of institutional investors entered the market. Since November, the number of wallets with 1000 BTC in the account has grown to a couple of hundred. The amount of free BTC in circulation has dropped, and Musk is just in a hurry to get on the departing in the bright future train))
Thanks to his decision to transfer some of the reserves to BTC, yesterday we could see how Bitcoins rose from $39,000 to $43,000, and the price rise did not end there. The bear’s tweets and the general sublime mood on social media were the control shot of the bears.
For half a day the price of cryptocurrency increased by 20%. It happened thanks to active buyers in the American market. Then, when the trading activity decreased in the U.S., Asia joined.
Guys from the Asia-Pacific region love cryptocurrencies. It’s trendy, cool and fun. Not for nothing, most interesting projects are shot in Asia.
Bitcoin is a powerful incentive and support for all cryptocurrencies, so it is treated in Asia with a special attitude. Despite the ban on trading in China, 60–70 percent of miners are there. So the growth of BTC purchases in the Asian market further increased the price of the first cryptocurrency.
What else could have had an impact? Of course, rumors about Apple
Yesterday, there were persistent rumors on Twitter and Facebook that the Apple giant could invest some of its reserves in the crypt after Tesla. Apparently, we have two ways, which will go in the history of Bitcoin.
- Apple invests directly in coins.
- And might create its own exchange or cryptocurrency trading service.
It is not yet known what to expect from the market. It is clear, however, that the future is generally positive. By the way, Elon Musk also benefited from the news about Bitcoin. Tesla’s share price rose as much as 3 percent. This has added a lot to the company’s capitalisation!