On Tuesday, February 16, the price of bitcoin rises. At 09:25, the first cryptocurrency is trading at $ 49,594.3 (+ 3.70%), according to CoinMarketCap.
Bitcoin adds 4% per day and trades about $49,500. The most popular cryptocurrency is once again attempting to storm the most important psychological and technical level of $50,000.
Confident overcoming of this mark will increase the buying momentum not only for Bitcoin, but for the entire cryptocurrency market. Along with BTC, all altcoins returned to growth.
The total capitalization of the cryptocurrency market jumped to $1.5 trillion. It seems that Elon Musk’s statement on the purchase of bitcoins for $1.5 billion was a kind of analogue of the statement of the head of the Federal Reserve about his readiness to continue stimulating the economy.
Together, these two events seem to have postponed the moment when a broad market correction began. Technical indicators indicate an overheated state of the market, but so far this does not interfere with growth. The RSI for the BTC/USD pair on the daily chart shows a transition to the overbought zone, but so far this trend is moderate.
Elon Musk continues to make loud statements, and this time he again paid attention to Dogecoin, inviting whales to buy back their coins in exchange for his support for the project. It is difficult to say exactly what goals Musk is pursuing in the context of Dogecoin, but such news feeds definitely cause positive vibrations in the crypto market.