Everyone agrees that today's bitcoin price movement is thanks to Tesla, who announced a $ 1.5 billion purchase in BTC.
We have also now confirmed that the purchase did indeed take place mid January of this year, but did not go public until today.
Just a few hours after the news was released, the price of bitcoin rose from $ 39,000 to over $ 44,000.
$50,000+ Bitcoin On The Horizon?
Optimistic expectations for this year seem to be found everywhere. According to various analysts in the Bitcoin and financial world, there has already been a profit taking period.
Because people filled their need to take some profits after the previous all-time high last month - they're now mentally prepared to accumulate, and HODL.
Averaging the predictions of my 3 favorite analysts after todays news, the new short-term price target would be $56,000.
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Author: Justin Derbek
New York News Desk
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