It was learned that Tesla Motors, headed by Elon Musk, whose name we often hear together with crypto currencies, purchased $ 1.5 billion worth of Bitcoin. Increasing after this news, Bitcoin exceeded 44 thousand dollars in many exchanges and broke the all-time record. BTC reached its new peak at $ 44,595, according to the Investing.com Bitcoin index.
Exposed to a very intense corporate interest wave in 2020, BTC, unlike previous years, gained an upward momentum that gave confidence to investors. The crypto currency, which continued this momentum in the new year, broke a record by approaching $ 42 thousand. Even though it dropped to $ 30,000 afterwards, Bitcoin regained its power, and today, after the news from Tesla, it exceeded $ 44,000 and determined its new peak.
Looking at the daily chart, it is seen that BTC rose from $ 39,000 to over $ 43,000 in just 20 minutes. With this increase, the king crypto money; 12% on weekly basis, 30% on monthly basis and 340% on yearly basis.
The spike in bitcoin price was relatively echoed by other leading cryptocurrencies. At the time of writing this news, Ethereum, the largest altcoin, is trading at $ 1,682, with a daily increase of over 4%. While Polkadot is traded with a premium of close to 9%, Dogecoin's 30% gain stands out in the top 10 list in terms of volume. DOGE was on the rise after Elon Musk's post on Twitter.
Not all of the consequences of this sharp price hike have emerged, as the flame of the rally has not yet subsided. However, some leading cryptocurrency exchanges are allegedly experiencing access problems due to sudden loading.
The total cryptocurrency capitalization is approaching $ 1.3 trillion and is another important data that refreshes the record. Bitcoin dominance is at the level of 62.9%.
By: Ozgun Caglar Deniz
