CEX.IO company blog | How did Tesla accelerate the price of bitcoin to a new record and what will happen next?

The price of Bitcoin accelerated and began to approach $48,000 after Tesla announced that it had invested$ 1.5 billion in bitcoins.The company also plans to accept cryptocurrency as payment for purchases. Cryptocurrency market capitalization has already exceeded $ 1.3 trillion. Just a week ago, this figure was at the level of $ 1 trillion - this is an increase of $ 300 billion. As of February 9, the price of bitcoin is around the $ 46,300 mark.

Yuri Mazur, Head of Data Analysis Departmentthe international crypto broker CEX.IO Broker, especially for Forbes, shared his opinion on why bitcoin is interesting to investors, and where its price will go next.

Investors during both waves of the pandemiccoronavirus began to view bitcoin as insurance against inflationary risks. In addition, the investment attractiveness of the first cryptocurrency is largely due to the fact that it has a very small market capitalization in comparison with classical investment instruments. This provides more potential for growth.

Bitcoin now faces a period of medium volatilityand a new wave of Bitcoin growth until the end of the first half of the year. At the moment, based on the analysis of trading data on CEX.IO, we see the probable nearest target of the bitcoin rate to the dollar at $ 48,051.

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