Bitcoin prices have once again sent the market flying with the new record it set this week, which is the highest that has been seen of it since June 2019.
A 4% price jump occurred on Monday, sending the price above the 12,000-dollar mark, specifically $12,470 before it fell slightly on the charts again.
Dave Portnoy, consistent day trader, fueled BTC endorsements and promotions, generating momentum and increasing trade activity as coin value rises. This resulted to the most recent BTC upturn, gaining approximately 30% last month. Secondary to that of Tesla’s, Bitcoin asset garnered views in the United States.
The rally call that Portnoy made to traders of not just Bitcoin, but other sorts of cryptocurrency as well, caused a spike in the retail interest of the big boys like the Winklevosses, and other giant names in the corporate world and Wall Street residents.
Bitcoin continued its climb while Tesla stocks steadied after a surge of unparalleled gains beginning in April. The electric car company’s stock prices went soaring after a popular analyst from Morgan Stanley upgraded his price target after speculations of new battery innovations.
Eyes are all on both Tesla and Bitcoin assets as TradingView analysis dubs both as “most viewed assets in America.” It coincides with the observations that Bitcoin’s prices are behaving quite similarly to that of tech stocks.
The hype in Tesla and Bitcoin stocks are mostly driven by the FOMO investors who want to be part of history being made. The investment surge in both markets offer a rush of excitement over possible gains.