MasterCard plans to support crypto payments later this year and some analysts believe we are only at the beginning of a gigantic Bitcoin (BTC) rally. The market update.
After Tesla invested 1.5 billion of its cash reserves in Bitcoin Code, the crypto reserve currency briefly hit a new all-time high of $ 47,260. Since then, the price has fallen and Bitcoin is currently hovering between the price levels of 44,000 and 46,000 US dollars.
At the time of going to press , the Bitcoin price is at $ 44,707, slipping 3.7 percent south compared to the previous day.
Big investors are aggressively buying bitcoin
Analysts at Material Indicators have found that since the Tesla announcement, Bitcoin whales in particular (major investors) have been extremely aggressive buying BTC on Binance. You interpret this as a bullish sign. This is due to the fact that the probability of a strong price correction would only increase if small investors also enter the market en masse. But that is not yet the case. Instead, large investors are currently primarily concerned with BTC.
Above all, the attention of large companies from the USA is repeatedly bringing Bitcoin into the public eye. In particular, the MicroStrategy conference and Tesla’s investment in Bitcoin have given cryptocurrencies an enormous amount of legitimation in general. It is therefore likely that even more companies around the world are currently looking to buy Bitcoin.
Companies urged to integrate crypto
Filbfilb, a well-known Bitcoin trader, even believes that in the current economic environment, many shareholders will require public companies to deal with cryptocurrencies. Therefore, sooner or later, companies that do not would be punished.
MasterCard is now meeting these requirements. Because, as the financial service provider based in New York recently announced, the company will carry out the crypto integration this year. It is not yet known which cryptocurrencies will be included at the beginning. BTC-ECHO reported .
Midas Touch predicts BTC price of $ 210,000
Consulting firm Midas Touch thinks it’s likely that BTC will hit $ 210,000. In addition, the company compares the price development of Bitcoin with that of Amazon and Google. At the time, no one believed that these companies would achieve such a high rating.
Therefore, there is no reason to call Bitcoin expensive at a price of $ 47,000. Getting started is difficult from a psychological point of view, but it could still be very lucrative.