fxstreet.com 01 Feb, 2021 08:00 am

Elon Musk endorses Bitcoin while the ECB says investors may “lose all their money”

In the past 24 hours, a lot has happened in the cryptocurrency market. First, the WallStreetBets Reddit group announced an upcoming pump on DogeCoin w

Tesla CEO, Elon Musk has finally tweeted about Bitcoin sending the digital asset 30% higher.Shortly after, Elon Musk changed his Twitter bio to #Bitcoin and followed up with the next tweet.In retrospect, it was inevitable — Elon Musk (@elonmusk) January 29, 2021 The cryptocurrency market in the past 24 hours Since the massive pump of Dogecoin followed by Bitcoin’s rally the total market capitalization has increased by more than $100 billion, reaching $1.Elon Musk hasn’t tweeted anything else after changing his bio to #Bitcoin, but Gabriel Makhlouf, governing council of the European Central Bank did make a public statement warning investors that they could lose everything, adding: Personally, I’m not sure why people invest in those sorts of assets, but they see them as assets clearly.

However, thanks to the recent pump from Elon Musk’s tweet, Bitcoin has broken out of several potential patterns on the daily chart.BTC/USD daily chart On the daily chart, The descending triangle pattern has broken bullish with a price target of $46,000.

AIA Cargo Terminal to close on Saturdays

Tapioca supplier turns to curcumin drinks

Why Connected Enterprises Should Care about Meaning, Not Location

Joe Biden Visits Texas After Devastating Winter Storms

Canadian regulator authorizes AstraZeneca vaccine: Briefs

1D1F Is A Revolutionary Invention Since Independence - Alan Kyerematen

Nadia Sawalha, 56, playfully parodies Kim Kardashian as she tucks a white shirt beneath her boobs

Henry schools wins $1,000 Golden Grant

County reports two deaths from COVID-19 this week

Fresh Water Norway (FWN) Signs New Contracts With Companies in the Maritime Industry Looking to Replace Plastic Bottles on Board Their Ships

Lane County To Vaccinate Thousands At Mass Vax Clinics This Weekend

Terminator Anime Series Coming to Netflix From The Batman Co-Writer

'I was not offended by the video. Let's move on'

Biden's stimulus effort hits the runway

ARK’s Success Has Spawned an Outpouring of New Innovation Funds. Investors Should Be Wary as Stocks Slide.

Bilingual Customer Service Specialist - RBD - Des Plaines, Illinois - 727034372

Tulsa Public Schools Looking To Hire Substitute TeachersNews On 6

Looking to buy 10 containers of pellets

No one’s ever going to keep us down again ...

Canadian Auditor General reports on National Shipbuilding Strategy

Netflix Diversity Study Shows Progress Made On Inclusion

Elon Musk endorses Bitcoin while the ECB says investors may “lose all their money”

Dollar ends higher on risk-off trade despite Fed's dovish hold

Alternative data snapshot

Profits at China’s industrial firms grew for the eighth straight month in Decembe

US dollar rises after Fed interest rate decision

GameStop turmoil triggers margin call selloff

Another 10 weeks of covid vaccine shortage likely

Moderna and Pfizer vaccines also effective against new variants

Weak European macro to keep PLN on weak side for now

US Dollar Index approaches 91.00 ahead of key data

USD/JPY hits fresh monthly highs as widening US/Japan rate differential weighs on the yen

PCE, Personal Spending and Income December Preview

Bulls becoming more courageous

XAU/USD prices stabilise having seen earlier gains eroded

AUD/USD drops further below 0.7700 as risk dwindles amid a quiet session

USD/JPY extends the upside in firmly bullish technicals

China has toughened its language towards Taiwan

S&P 500 Futures drop half a percent amid chatters over Gamestop, covid vaccines and china

Dollar pares gains on U.S. GDP and rise in stocks

Employment conditions are still in a weak condition overall

Risk catalysts supersede upbeat data, China tension renews

Unemployment rate to rise to 5.6% – Westpac

GBP/USD bounces off intraday low to regain 1.3700, focus on vaccine jitteres, Gamestop and China

AUD/USD increased 0.0029 or 0.38% to 0.76772

Stocks trade weaker as US equity FUTs declined; USD rises into month-end

Surge in interbank rates is a hawkish signal – Capital Economics

USD/JPY refreshes seven-week top as risk-off mood favors US dollar

Delay in vaccine roll – out can turn into political risk for the EU

Markets roiled by retail-trader frenzy, vaccine concerns, eyes on US data

Attention is now on 1.2014 – Commerzbank

Downside looks contained

USD/JPY faces potential upside to the 104.75 area – UOB

Stellar primed for a 30% breakout as sentiment turns extremely bullish

Dogecoin's 600% rally could jumpstart the next altseason

Further losses appear unlikely

AUD/USD could drift towards the 0.7560 area – UOB

ZIL on the verge of a 67% move following extended consolidation

Brokers’ restrictions on GME and AMC set a dangerous precedent – FXStreet Editorial

BTC bulls battle key short-term resistances above $34,000

Lockdown triggers renewed slide in Q4 GDP – Capital Economics

Risk reduction dominates sentiment

Stocks decline after Q4 GDP weakness

Ripple on the brink of 40% upsurge targeting $0.38

Elon Musk buys Bitcoin igniting the next bull run

Room for a potential move to 105.64 – Commerzbank

BSP likely to remain on hold in 2021 – UOB

Is the manufacturing cycle peaking?

Global stocks slump, US dollar gains as risks remain

Another chance of a move to 1.2200

Annual Core PCE Price Index arrives at 1.5% in December vs. 1.3% expected

Upside capped by the resistance line near 90.80

Robinhood suspends cryptocurrency trading following Doge’s 1,000% rally

Gamestop (GME) Stock Price and Forecast

We are confident of our vaccine supply chains

Real GDP grows by 0.7% in November vs. 0.4% expected

USD/CAD slumps to 1.2750 area on USD weakness, strong Canada GDP

COVID-19 vaccine is 66% effective overall in global trial

Economy maintains solid pace of recovery into November – TD Securities

EUR/GBP nudges higher to 0.8850 region, eyes multi-month lows under 0.8820