fxstreet.com 01 Feb, 2021 08:00 am

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

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.

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