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Bitcoin - Long New Record Highs

Feb 17, 2021

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Bitcoin - Long New Record Highs by KQMarkets on TradingView.com

Commentary

Bitcoin has made new record highs today continuing it's strong upward momentum in particular since Tesla announced last week it invested $1.5 billion in Bitcoin and plans to accept cryptocurrency as payment.

Now that the cryptocurrency has broken through the $50,000 psychological level we believe prices could challenge $100,000 at some stage this year whilst above support at around $40,000.

Additionally, as central banks continue their massive inflationary monetary policies investors including institutions are increasingly seeing bitcoin as a hedge against inflation because of it's limited supply.

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