{"id":3533,"date":"2021-02-16T02:38:32","date_gmt":"2021-02-16T02:38:32","guid":{"rendered":"https:\/\/afluxcoin.com\/38\/tesla-invests-in-bitcoin-to-start-accepting-btc-payments-too%e2%80%8a-%e2%80%8aanalysis-15-feb\/"},"modified":"2021-02-16T02:38:32","modified_gmt":"2021-02-16T02:38:32","slug":"tesla-invests-in-bitcoin-to-start-accepting-btc-payments-too%e2%80%8a-%e2%80%8aanalysis-15-feb","status":"publish","type":"post","link":"https:\/\/afluxcoin.com\/ar\/38\/tesla-invests-in-bitcoin-to-start-accepting-btc-payments-too%e2%80%8a-%e2%80%8aanalysis-15-feb\/","title":{"rendered":"Tesla Invests in Bitcoin, to Start Accepting BTC Payments Too\u200a\u2014\u200aAnalysis, 15 Feb"},"content":{"rendered":"

On February 8, Tesla announced it had invested $1.5 billion in Bitcoin, thereby converting part of its cash on the company balance into cryptocurrency. Moreover, the electric vehicle company highlighted it would start accepting Bitcoin as payment for its cars.The crypto market reacted immediately to the positive news. The price of Bitcoin surpassed its previous local high of $42,000 and reached levels close to $50,000 later through the week.Interestingly, this past week, Tesla was not the only big player joining the cryptocurrency world. On February 11, the Bank of New York Mellon, one of the oldest banks in the United States, announced the creation of a digital assets unit that will integrate cryptocurrency:Source: TwitterOn February 13, Bloomberg published a post stating that Morgan Stanley, another significant player from the banking world, is going to pour $150 billion in cryptocurrency:Source: TwitterWith such kinds of news one thing is becoming clearer \u2014 the market is entering the phase of the institutional investors, a phase in which big companies, hedge funds, banks will start buying and accumulating cryptocurrency. Therefore, it seems that the crypto market is just at the very beginning of a new bull lifecycle.After the extremely bullish week, the Monday market starts with a small correction. At the time of writing, according to Coin360.com, one Bitcoin costs \u20ac39,579.83 (-1.86%), one Ethereum \u2014 \u20ac1,471.68 (-2.86%), and one LINK \u2014 \u20ac27.52 (-1.84%):Source: Coin360.com (Daily crypto market performance)Now let us have a look at the price charts of the leading cryptocurrencies against the euro.BTC\/EURIn the 4-hour chart, BTC\/EUR continues to increase after exiting the Descending Triangle:We consider three potential scenarios for the near future of the price chart of Bitcoin. In a bullish scenario, BTC\/EUR reaches the level of approximately \u20ac44,200. This level is calculated by adding the triangle\u2019s height to the level of\u2026<\/p>","protected":false},"excerpt":{"rendered":"

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