The cryptocurrency market continues to surprise. More records have been set today.

The Bitcoin price today reached another ATH, establishing it at the $48,000 level. Behind it, the market capitalisation of 1,4 trillion has also grown dramatically.

Simon Peters, market analyst at eToro said:

The world is moving online more and more, and Bitcoin sits at the heart of online transactions, and with this kind of endorsement from a multibillion-dollar company, it's likely the price will hit $50,000 by the end of the week.

A recent revealed report claiming Tesla's purchase of one and a half billion dollars worth of bitcoin has certainly exerted a large volume on the cryptocurrency market. Currently, Bitcoin's price is closing in on $47,000. The declines are not sudden which may suggest that this price will remain for some time to come or symbolise increases.