Crypto analysts on Bitcoin record run: „Bulls are still fully on the trigger“

The experts see no real reasons for the market-leading cryptocurrency to decline anytime soon.

In the past 24 hours, Bitcoin ( BTC ) has climbed almost to $ 50,000, largely due to the $ 1.5 billion investment by the innovative automaker Tesla this week

Although the market-leading cryptocurrency has now climbed more than 100% above its previous record high of almost 20,000 US dollars from 2017, the crypto trader under the pseudonym „Cheds“ is confident that the current run will lead even further upwards becomes.

„I believe that many people here hope for a ceiling or at least persuade themselves that it has to come because the price has risen so rapidly so quickly,“ as the expert, who focuses on technical analysis, explains to Cointelegraph.

In December 2020, Bitcoin System had jumped $ 19,892 from 2017 , followed by a dramatic increase to $ 41,981 in January 2021 .

After a short turnaround, the crypto market leader was able to increase to a new high of 48,911 US dollars on February 11

“In my opinion, the bulls are still fully on the trigger, with new reports every day of further interest from institutional investors and increasing demand, which will further fuel the current soaring,” said Cheds. In fact, more and more mainstream players are currently getting into Bitcoin. With an investment of 1 billion US dollars , the software manufacturer MicroStrategy was until recently the largest entrepreneurial investor before the car manufacturer Tesla now deserves this honor. However, many other companies have now also invested in the crypto market leader .

„If some people think that Bitcoin will now fall because of the new Canadian Bitcoin ETF or the Chinese New Year, then that’s just an excuse they need because they want to sell anyway,“ as the expert classifies the prophecies of doom of the critics. He is referring to the latest news that Canada approved the first North American Bitcoin index fund yesterday .

„Yesterday we reached a new record high of 49,000 US dollars,“ as trader CryptoWendyO confirms her colleague’s optimism. „However, we are having a hard time breaking the 50,000 US dollar mark,“ the expert continues. However, she then adds:

„The 50,000 are inevitable, but over the weekend we should keep an eye on the $ 44,700 area first unless we get a tweet from Elon Musk that catapults #Bitcoin to $ 54,000.“

The Tesla boss had already “ twittered “ about cryptocurrencies in the past few days , but recently he especially fueled the Dogecoin ( DOGE ).