Bitcoin’s horizontal movement from 22nd of October to 7th of November has now changed starting this week. With new investors flowing in, the price of Bitcoin nearing its all-time high price. According to the analysts, this recent rise in Bitcoin will drag more investors to the Crypto industry, which will make it possible for Bitcoin to put a new all-time high soon.
The capital value of Bitcoin now occupies 43% of the Crypto Coin industry, making bitcoin the Leader of the Crypto Market. Today Bitcoin’s value is over 1,247 trillion dollars which surpassed the value of Tesla and became the most 8th precious asset while pushing Tesla to 9th. Tesla’s current value remains 1,227 trillion dollars.
Bitcoin is closing the gap of Silver reserves.
Silver is currently placed on the 7th asset in the most precious assets list, with over 1,368 trillion dollars value, making Silver the 2nd most precious ore in the world. With this pace of Bitcoin, people believe that Bitcoin will eventually pass the Silver in value as Gold remains the King of this list with a significant gap with 11,55 trillion worth. Thus, it seems like Bitcoin has a long path to walk on.
Elon Musk’s tweet
Famous businessman Elon Musk keeps surprising people over Twitter with a poll about selling his 10% of Tesla stock. Given two options, “Yes” or “No.” the poll was resulted with the option “Yes” by 57.9% of people. So it seems like Elon will do what he said to do, but the question is, how will that affect the stock price of Tesla? is it going to be affected in a bad way or the opposite. It is still unknown what will happen in future, but it is pretty evident that Tesla has lost 7% value in the stock market after this tweet.