The prices of the Bitcoin which, in the last five days, have marked an increase of about 18%, positioning themselves above 43 thousand dollars, below the maximum since the beginning of the year (47 thousand dollars). An increase that follows the recovery of the equity markets at the same pace.
Despite the mini-rally, experts remain cautious especially after that bitcoin fell below the $ 40,000 level twice in the past month. The digital currency is also well below its all-time high reached last year of above $ 60,000.
“It’s just a rebound,” he said Noelle Acheson, Genesis head of market insights. “We therefore remain cautious, especially in light of the volatility of the cryptocurrency market”.
Meanwhile, Katie Stockton of Fairlead Strategies said bitcoin is testing its 50-day moving average after a strong oversold bounce left a major weekly support intact, at $ 37,361.
“If I weren’t cautious right now about the stock market and risk assets in general, I would be a short-term buyer,” he said. “However, we have to see it in the context of the decline in long-term indicators, which tells us not to commit for long.”
Tesla, in 2021 in Bitcoin wallet for 2 billion dollars
One of the biggest supporters of the cryptocurrency market, Late last year, Tesla, Elon Musk’s electric vehicle company held Bitcoin worth around two billion dollars. This was revealed by the company in a document recently presented to the United States Securities and Exchange Commission.
The company had purchased a total of $ 1.5 billion worth of bitcoin in 2021. The cryptocurrency ended the year up nearly 60%, with an all-time high of more than $ 68,000 in early November. Tesla briefly accepted bitcoin as a payment option, then stepped back in May due to environmental concerns.