Feb 11th Technical Analysis: Bitcoin & Ethereum Price Prediction

“Bitcoin breakout is imminent”

On Monday, Tesla announced it invested $1.5 billion out of $19 billion of excess cash in Bitcoin, a move that sparked a Bitcoin rally. On the same day, Bitcoin’s price reached a new all-time high of $48,025. It was long rumored that Tesla and its billionaire CEO Elon Musk would be buying Bitcoin but the Monday event proved it true.

The current market capitalization of Bitcoin is around $835 billion, which is ahead of the stocks of both Facebook and Tesla, making it the seventh most valuable asset in the world, according to AssetDash.com. But there is still a long way to go before it could reach the market cap of Apple, the world’s most valuable company with a $2.2 trillion market capitalization.

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