Elon Musk is very positive with BTC and furthermore already took the action in acquiring Bitcoins. Tesla will also soon be accepting digital payments shortly. BTC consolidated around 40% from its last all-time-high around $41,000 but this digital monster did not stop there. Instead, it is more prepared for a more astronomical high.
More from Bitcoin in Next Few Months
Investments towards digital assets could pump soon not just with Bitcoin but with the other altcoins in the market. Bitcoins price shoots up to 18% after Tesla's disclosure. Triggering multiple exchanges to massive cryptocurrency exchanges such as Coinbase, Binance, Kraken, and other wallets available in the market.
Pioneered with Tesla, surely multi-billion dollar companies will take their step to leverage cryptocurrencies. This could be speculation but giants do not want to be out of the place. They will always keep the market going and remain in the competition.
Bitcoin's Next Move
No one knows where Bitcoin's next price will be but with the technicalities and fundamentals this digital asset is very bullish. With the outlook of few investors in the market, this can hype the price and we will soon be hitting $60,000.
Elon Musk admitted that he is a Bitcoin believer and later took him to indulge in the asset. In the last couple of days, he tweeted in his bio "BITCOIN". The market splurged multiple exchanges in the day but later fluctuated after few days of consolidation it went back up to the level of $40,000. And that's when Tesla dropped the bomb for Bitcoin's explosion touching a new price discovery of $47,000.
Technical Analysis for Bitcoin
As for the chart, we have seen a double bottom, and Bitcoin just broke out its major resistance creating a new all-time high. Bollinger bands preparing to stretch out again for another bullish outlook. RSI level shows overbought and could probably make a little consolidation since we are looking at the daily candlestick pattern. The next price prediction by the end month of February will be $60,000.
