Next stop $55,000?
Bitcoin is in overdrive today after Elon Musk put $1.5B in Tesla money into it. That’s after he wrote in December that: “Bitcoin is almost as bs as fiat money.”
Evidently he had a change of heart. He’s also been inexplicably (and irresponsibly) pumping Dogecoin, which has gone on its own run.
In any case, the mania is back on.
I think the simple technical analysis is the way to go on the breakout in a parabolic move. The measured target of the $30,000-$42,000 range is $55,000.
It might not take long as Novogratz and all the usual permabulls tossing out ever-higher targets. Anyone heard from John McAfee lately?