The Elon Musk Effect: Bitcoin Reached $48,000 and Ether $1,800

The Elon Musk Effect: Bitcoin Reached $48,000 and Ether $1,800

The Elon Musk Effect: Bitcoin Reached $48,000 and Ether $1,800

The cost of BTC topped $48,000 for the first time, and that of ETH – $1,800 amid the information about Tesla’s $1.5 billion investment in Bitcoin. During the Tuesday trading, all major cryptocurrencies have grown, and DOGE has even soared to ninth place.

Crypto markets continue to observe confident growth. In the late afternoon of February 8, it became known that Tesla, which is owned by Elon Musk, purchased BTC for $1.5 billion and prepares to accept payments in cryptocurrencies. After that, the Bitcoin rate revised its historical maximum, touching $45,000.

At night and in the early afternoon of February 9, the rise continued – the worth of Bitcoin reached $48,022, after which it amended to $46,450.

Habitually, other leading cryptocurrencies have followed the Bitcoin trend. The price of Ether achieved $1,820 topping its recent best performance, demonstrating a 10% increase on the day. The price of ETH might also be affected by the CME Group’s initiation of Ether futures trading.

Dogecoin, also repetitively mentioned by Elon Musk, climbed to 9th place in terms of market cap with a rise of almost 11% on the day – the price of the crypto asset a marked $0.079. Dogecoin took over the position of Chainlink, which slumped to 10th in the standings and is now trading around $25.