In a run reminiscent of bitcoin’s stunning ascent in early January, the price of leading cryptocurrency blew past $45,000, $46,000 and $47,000 in less than an hour on Monday evening, driven by Tesla’s announcement that it had bought $1.5 billion of bitcoin.
Bitcoin hit $47,513.57, a new all-time high, before settling back to $47,053.09, up 20.6% in the last 24 hours.
$45,000 was supposed to have been a milestone of sorts but the cryptocurrency's race upwards turned it into an afterthought. The cryptocurrency has risen about 67% year-to-date.
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In a run reminiscent of bitcoin’s stunning ascent in early January, the price of leading cryptocurrency blew past $45,000, $46,000 and $47,000 in less than an hour on Monday evening, driven by Tesla’s announcement that it had bought $1.5 billion of bitcoin.
Bitcoin hit $47,513.57, a new all-time high, before settling back to $47,053.09, up 20.6% in the last 24 hours.
$45,000 was supposed to have been a milestone of sorts but the cryptocurrency’s race upwards turned it into an afterthought. The cryptocurrency has risen about 67% year-to-date.
A combination of traders in Asia just waking up to the Tesla news combined with a lack of resistance levels above $45,000 were possible causes for the sudden gap upwards