Last night, the Bitcoin price once again reached an all-time high. On the crypto exchange Binance, BTC/USD was able to break the magic mark of 50,000 dollars for a moment and thus continue the past weeks’ bull market. At the beginning of the month, BTC/USD was still trading around $30,000 after a significant correction. Since then, the most valuable cryptocurrency has risen again by approximately 65 percent. The recent rise was triggered by electric car maker Tesla’s investment in the crypto market. Elon Musk’s company has invested $1.5 billion in Bitcoin and also plans to accept Bitcoin as a means of payment itself in the future.
At the time of publication, BTC/USD is trading at around $49,000. However, the technical analysis shows that Bitcoin is currently not yet in a significant downtrend, and the chances of a renewed attack on the $50,000 are still given.