Less than three weeks ago, the Bitcoin rate was below the psychological level key mark of $ 30,000 slipped. Previously, the Chinese government’s tough crackdown on cryptocurrencies and their miners, as well as the threat of regulation in other important markets such as the USA, had caused uncertainty. Then – at least it seems – a word from Tesla boss Elon Musk was enough to bring a new boost to the crypto market. In any case, on Sunday it went above the $ 45,000 mark for the first time since mid-May.
Bitcoin price jumps by 50 percent in 3 weeks
More on the subject
- Overview of crypto news: The daily news blog about Bitcoin and Co.
Chart analysis: “Stubborn sideways trend” ended
Analysts: According to the inside, Bitcoin has “left the stubborn sideways trend upwards” with the latest upward price from a chart technical point of view, as it is called on the platform Der Aktionär. The next step is to cross the $ 48,000 mark in order to set in motion a rally towards the all-time high. On the downside, the $ 41,500 mark is seen as support. Despite all the positive sentiment, it is of course still true that Bitcoin, like other crypto currencies, is a highly volatile form of investment. Bad news can quickly go downhill again.
