Bitcoin (BTC), the very well-known cryptocurrency in the world has never been in a bull-run like this before. In 2017’s bull-run, it reached around $20k and registered its all-time high. However, the current bullish run is much bigger than the previous one as the top-ranked digital currency has come very close to achieving the $50,000 milestone after breaking above the figure of $48,000.
Another All-Time High For Bitcoin
Bitcoin has recorded another all-time high by surging above three crucial figures within the duration of one day. The price value of BTC topped three levels $46,000, $47,000, and $48,000 to reach a new all-time high earlier on Tuesday, on the 9th of February.
Over the course of the last 24 hours, it has risen high by more than 20 percent and hit $48,003.72, which is the new peak value for the coin. After getting this breakthrough, the first-ranked digital currency has now set its aim at the next milestone that is to achieve the $50,000 breakout.
Bitcoin has made great progress during the past few days to get its price near to this big milestone. It all has happened because of the recent $1.5 billion investment of the electric car firm Tesla into the top digital asset. Tesla has also revealed that it is thinking about accepting payments in Bitcoin (BTC). This is a great piece of news for the fans of the flagship cryptocurrency. The entrance of Tesla into Bitcoin is a good sign for the entire cryptocurrency market and its mainstream adoption.
Now everyone is waiting for the leading digital currency to top $50,000. As of now, it has slightly moved down from its all-time high. At the time of writing, the price of BTC is standing at $46,800.86 and is heading upward with a change rate of +18.81% in the last 24 hours.
Bitcoin’s Market Cap Also Climbs Above $850 Billion
The bullish breakout of $48k has also caused an upward movement in the market capitalization of the primary cryptocurrency as well. Reportedly, the market cap of Bitcoin has climbed above $850 billion for the first time ever.
CoinMarketCap’s data reveals that Bitcoin’s market value is holding the figure of $858 billion at the press time.
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