Bitcoin Nears $50,000

bitcoin jumps feb 11 2021

Bitcoin has reached a new high of above $48,300 with it jumping by more than 5% today after testing support twice. The currency is rising on news Twitter is considering adding bitcoin to its balance sheet, continuing momentum of a new trend as companies – which are sitting on $10 trillion in cash – think of diversifying to bitcoin. Speculation is swirling regarding whose next. Some even suggest Apple, which might be unlikely, but something like AMD could stand out in the semiconductors wars by embracing bitcoin. Not least because Powell has made it clear Fed is “not even thinking” about tightening the loose monetary policy of some $120 billion in bond and mortgage purchases a month. All this and much else is adding to bitcoin bullishness as it once again heads near $50,000 with it to be seen whether it can break it.

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