Bitcoin has now overtaken the market cap of Tesla for a short span of time while the bulls indicate an upward drive is far from over at the $40,000 mark.
On 8th January 2021, BTC had made reverse to the level of $40K after a new price was consolidated after some time. Although the BTC price had managed to stay inside that consolidation period had concluded symptomatically after a short period of time.
Bitcoin Value On The Up
TradingView and Coin360 have issued reports that have been gathered from their data. These reports suggested that BTC/USD had rapidly surged in order to return to the psychological price which is an important price mark at the time of trading on 8th January 2021, Friday.
Following the fall of 9%, after Bitcoin had been able to reach its all-time high on Thursday, BTC had significantly dropped and remained declined for a few hours. They stayed low prior to the return of the bullish momentum.
As a result, the leading cryptocurrency successfully managed to reach the equivalent of the record high as well as delivered another new high at $40,087.
A very popular trader of social media has made a statement that it appears to be a dump in order to drop off the weak investors these days. BTC also managed to surpass the market capitalization of Tencent, the Chinese giant. It also briefly exceeded Tesla, the remarkable tech company after the price hit $41,000 for each coin.
On 7th January, Companies Market-Cap along with Coin MarketCap reported that Bitcoin has almost made an entry into the list of the top 5 companies according to their market cap.
