|-Bitcoin hits a new all-time high of over $43K.|
-This price spike came after Tesla Bought $1.5B worth of BTC.
-Moreover, the move follows encouraging signs from CEO Elon Musk.
On February 8, the cryptocurrency king Bitcoin (BTC) hits over $43,000. Moreover, the crypto spiked almost $3,000 in a minute. This spike came after the news that Tesla bought $1.5 billion worth of BTC.
Bitcoin Price Analysis
Bitcoin (BTC) spiked by almost $3,000 in minutes today. After news emerged that Tesla had bought $1.5 billion worth of BTC. Moreover, a filing with the US regulator the Securities and Exchange Commission (SEC) shows that the company plans to buy $1.5 worth of Bitcoin.
BTC/USDT Price Chart (Source: TradingView)
BTC/USDT has shown great performance in the last few days. If this continues, the crypto can be seen to run along with the bulls in breaking the resistance level of $44,994, which can lead to a high price of $48,098.
On the contrary, if the BTC price fails to maintain its position with the bulls, the crypto might break out of its bullish position and fall down along with the bears at the support level of $39,108. In this case, the crypto must find a way to recover quickly.
The spike follows encouraging signs from CEO Elon Musk, who last week openly stated that he was a supporter of BTC. Since then, signals have been mixed, after Musk removed Bitcoin from his Twitter biography. But continued tweeting and promoting Dogecoin (DOGE).