Bitcoin is getting some serious competition from Tesla this month.
Tesla up almost 25% from January lowsteadily unwoundDespite CEO Elon Musk making history with his personal wealth losses, Tesla has so far recovered by almost 25% since Jan. 6.Amid an atmosphere of declining inflation in the United States and a surge in the price of safe-haven gold, the stage is arguably set for a broader risk asset rebound.After seeing grim year-on-year losses of nearly 65%, BTC is also keenly eyeing the potential for growth, having begun 2023 with a dip below $16,500.
Local highs of $19,112 on Bitstamp marked new year-to-date returns of 16.8% — a refreshing change for hodlers — but behind TSLA in terms of lows to highs as of Jan.12.Nonetheless, analysis continues to focus on the two assets’ broader correlation. “Crypto has been largely correlated to tech for the last few years but the BTC chart overlayed on TSLA is actually crazy,” popular Twitter account BluntzBTC/USD vs. TSLA/USD 1-week candle chart. Source: TradingViewNot everyone is concerned about which horse wins the race in the short term.This month, ARK Invest, the asset management giant famous for its bullish stance on Bitcoin, added TSLA to its holdings.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Miss El Salvador Features Bitcoin in Miss Universe 2023 – Featured Bitcoin NewsThe MissUniverse contestant from El Salvador has surprised viewers by featuring bitcoin as part of her national costume. AlejandraGuajardo cryptocurrency $BTC
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Above $18,000, ETH Hits 2-Month High – Market Updates Bitcoin NewsBitcoin rose to a four-week high on Thursday, as price surged above $18,000 hours before the upcoming U.S. inflation report.
Read more »
Bitcoin gained 300% in year before last halving — Is 2023 different?Can Bitcoin repeat pre-halving year action to deliver 300% BTC price gains or more?
Read more »
Bitcoin Has Already Risen 14% In 2023Bitcoin is now up about 14% this year after falling 63% in 2022. This comes as U.S. inflation data showed consumer price index (CPI) slipped 0.1% in December and rose 6.5 percent over the last 12 months, in line with expectations. 'All About Bitcoin' host Christine Lee breaks down 'The Chart of The Day.'
Read more »
Bitcoin price rally to $18K possible as $275M in BTC options expire on FridayDerivatives and Bitcoin options data suggest bulls could attempt to push BTC price to $18,000. noshitcoins explains why.
Read more »
Bitcoin price fails to seal fresh CPI gains as $18K support hangs in balanceCPI comes in on point, but BTC bulls are still waiting for a push to $18,500.
Read more »