Bitcoin Will Hit $100K Amid Prospects for Becoming No.1 Currency
Short-term Bitcoin (USD-BTC) price movements are irrelevant because the digital coin is likely to trade above the $100K level by the end of this year, according to analysts from Citi and JPMorgan. The sentiments are strengthening because reports have started hinting that the most valuable cryptocurrency will become the choice of currency for international trade.
Tesla Make $1 billion in Bitcoin Profit, Elon Musk is Still Bullish
Tesla (NASDAQ: TSLA) founder Elon Musk appears bullish over the future fundamentals of Bitcoin (BTC-USD) as the largest electric car maker generated $1 billion from its investment in the most valuable cryptocurrency. Early this month, Tesla reported an investment of $1.5 billion in bitcoin and announced to accept the digital coin as a valid form of payment.
Gold Down, But One Safe Asset is Rallying
Gold price, which jumped above $2000 an ounce a few months ago and rallied almost 22% in 2020, is now out of demand as investors moved their focus towards risker assets, including stock markets. The price of gold fell close to 6% so far this year with expectations for more drop in the days ahead.
MicroStrategy Stock Skyrockets on Bitcoin Hoarding, Shares Up 160%
The mid-cap analytics company MicroStrategy (NASDAQ: MSTR) has generated big gains for investors in the past two quarters amid the massive rally in bitcoin (USD-BTC) price. The chairman and chief executive officer Michael Saylor’s strategy of converting fiat currency into digital coins worked for MicroStrategy because the company has successfully turned its millions of dollars into billions of dollars.
Bitcoin Close to Break $50K Mark But It’s Not the End of Rally
Bitcoin price has hit the $49.7K mark in Sunday trading after hints that banks, which were the major critics of digital currencies, have also started capitalizing on profit-making opportunities from the cryptocurrency markets. The Valentine’s Day rally was driven mostly by the announcement from the nation’s oldest bank BNY Mellon of opening up its custody services to digital assets.
Bitcoin Price is Likely to Break Psychological $50K Soon
Bitcoin (USD-BTC) price cruises to a new all-time high of $48600 level in Thursday trading but failed to breach the $50K resistance level and fell back to the $47K range. However, the market fundamentals suggest $50K is just a near-term physiological mark as the largest cryptocurrency is set to generate massive gains this year.
Bitcoin Hit $47.5K Amid Prospects for Wider Corporate Acceptance
Bitcoin (BTCUSD) price extended the upside momentum and hit the new all-time high of $47K in early Asian trade on Tuesday, thanks to Tesla’s (NASDAQ: TSLA) $1.5 billion worth of investment in the cryptocurrency – which many analysts believe has set the path for wider corporate acceptance.
Dogecoin: Is Elon Musk Involved in the Pump and Dump Scheme?
The world’s richest man and Tesla (NASDAQ: TSLA) founder Elon Musk has been frequently tweeting about Dogecoin (DOGUSD) over the past few days, pushing the joke coin price to all times high and helping stretching the market cap to $10 billion.
Tesla Will Accept Bitcoin, Price Tops $44.5K
Tesla (NASDAQ: TSLA) founder Elon Musk, who frequently talks about bitcoin, will accept bitcoin as a legal form payment for Tesla products in the near future, disclosed it invested $1.5 billion in the largest digital currency. Tesla ended 2020 with $19 billion in cash and cash equivalents.
Bitcoin Price Tops $40K, But Correction is Not In Sight
Bitcoin price doubled in the last month alone, surging from $20K to $40K on the back of bullish thesis and rosy outlook. Bitcoin price experienced an unprecedented rally since the digital coin broke the three-year-old high of $20K on November 30.
Bitcoin Price Rebounds, JPMorgan Sets Price Target at $146,000
Bitcoin price rebounded above the $31,000 level after the largest single-day decline in Monday trading, extending the unprecedented volatility into 2021 that initially started since the beginning of the September quarter of 2020.
Bitcoin Price Fell on Profit-Taking, the Bull Case is Still Strong
After smashing an all-time high on Monday, Bitcoin price retreated amid traders profit taking strategy as the largest coin soared almost 40% in the last month alone. Despite the selloff, the market fundamentals are supporting the bull’s case considering the crypto adoption.