• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

Elon Musk Adds “Bitcoin” to Twitter Bio as BTC Posts Monster-Sized Breakout

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
0
Advertisement
  • Elon Musk has long teased his interest in Bitcoin, but his advocacy for the cryptocurrency was solidified today when he added #Bitcoin to his Twitter bio
  • This change coincided with a massive green candle seen by BTC that sent it rocketing up to highs of nearly $39,000 this morning
  • It remains unclear as to whether or not Elon purchased Bitcoin, but it has been speculated that he is the sole reason for the massive pump
  • From a technical standpoint, BTC is now looking poised to see further upside, with bears losing all their momentum as the crypto aims for the $40k resistance

Bitcoin and the entire cryptocurrency market have seen an explosive overnight rally, with bulls taking full control of the aggregated market as bears struggle to maintain the traction they had previously gained.

This massive overnight rally seen by the benchmark crypto came about due to Elon Musk changing his Twitter bio to “Bitcoin” and possibly buying a massive amount of spot BTC on the open market.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

This possibility remains speculative, however.

One trader is now expecting further upside, pointing to $50,000 as a near-term target.

Bitcoin Rockets Higher as Bulls Slaughter Bears 

At the time of writing, Bitcoin is trading up just under 14% at its current price of $38,200, which marks a massive surge from its pre-rally lows of $32,000.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Where the cryptocurrency trends next will undoubtedly depend largely on whether or not BTC can shatter the heavy resistance that sits around $39,000.

Elon Musk’s addition of “#Bitcoin” to his Twitter bio and potential buying activities undoubtedly played a huge role in this rally. Anthony Scaramucci, who runs the $10b fund SkyBridge Capital, also changed his bio to “#Bitcoin.”

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Analysts Expect Further Upside as BTC Rally Continues 

One analyst noted that this breakout marked a significant technical movement and could open the gates for a move to $50,000.

“Candles like this never get old. I want $50,000…” he said while pointing to the below chart.

Bitcoin

Image Courtesy of Teddy. Source: BTCUSD on TradingView.

This rally is a bit different from ones seen in the past because it comes when traditional investors are beginning to see and understand the merits of a free and open financial system – like the one Bitcoin provides.

Combine that with clear buying activity amongst massive investors, and Bitcoin could be well-positioned to see massive upwards expansion in the days and weeks to come.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin Mining

Why The Bitcoin Hashrate Has Barely Moved Since May

2 hours ago
Bitcoin Mining

Bitcoin Mining Company Returns Over 26,000 Rigs To Save Itself From A Ballooning Debt

7 hours ago
Ukraine

Ukraine Buys New Batch Of Weapons To Fight Russia Using $60 Million Crypto Donations

9 hours ago
bitcoin and stocks

Is the Bitcoin Stock Market Correlation Finally Ending?

1 day ago
Bitcoin

Bitcoin Is Now Accepted In This Popular Resort In The Maldives

1 day ago
Anthony Scaramucci

Here’s Why Scaramucci Expects Bitcoin Price To Reach $300,000 Before 2030

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.