Musk tweet gives a boost to Bitcoin as March Begins (2024)

Both the digital currencies Bitcoin and ETH seemed to have seen a surge on 29th January. Although the growth of bitcoin has come as a result stated by Elon Musk, ETH seems to be growing in correlation. The experts feel that both the digital currencies are likely to go higher this year, while Bitcoin is already on the rise with good potential to rise much higher in 2021. While in 2021, Bitcoin was seen moving a lot with a great action-filled start this year. The very start of the week in Feb has given a very strong feeling and growth, while the second week of the said month is expected to get to the new high along with crashing down by 10K USD. In the 3rd week, we have seen the coin now getting traded at different sides that continue until last month.

Image by Gerd Altmann from Pixabay
While in Jan 2021, we have seen Bitcoin is going through some action that seemed filled this year. The initial week was a market with some strong growth, whereas in the second week, we saw some coin hitting to start a very small all-time high kind of crash by not less than 10K in the 3rd week of the month. The coin was mostly seen getting its trade at the sideways that seemed to have lasted for a few days of the said month. The end of January has made Bitcoin go high from 32K to 38K USD once BTC was defied on Twitter by Elon Musk. Musk seemed to have developed several communications with the digital coin industry as coming in the past. Then we have seen the joking way as many tweeted saying that they have something interesting to check that remains both inevitable and retrospective.

Having a look at the digital currency, one can get more on it. Bitcoin was seen staying strong for more few weeks to come while the price would remain up and over a new cost territory. The very issue with the body that will go perhaps not going to return so soon in the early week. It is very much likely to see the short squeeze that is made to consider when it comes to the digital currency domain and moving ahead with great care. It is also going to take a while to see the recent company being considered with additional care. In a decentralized environment, one can find the complete incident taking place to a new level. While going ahead in a decentralized domain, the complete incident seemed to be taking ahead with the censorship of Wall Street Bets that remains one of the groups seen in defense.

There are several reports that claimed that Glassnode CTO was seen coming up with the new price of bitcoin flow that was seen earlier the past three decades, and we now see it leading the show at a greater pace with a complete market cap as seen in 2017 along with 2019. The man was seen showcasing the interest of the institution as seen in Bitcoin while remaining on the higher side as ever without actually noticing the same in the early 28 days. There seemed 26K BTC that was mined; meanwhile, the company Grayscale is seen going great guns by owning 40K BTC. The company is calling it to sell things off and get the things done at the right time.

ETH price was also seen going with 1.3K USD after getting a small dip earlier. As Bitcoin was seen coming on the sideway this week, ETH had barely any more such activity. The price of the coin seemed to have started coming along with a good rise from 1220 this Jan to the all-time highest collection at 1474 the very next day. Since then, the coin was seen coming along with several corrections that would bring things in the right shape, claims the data of CEX.IO data. The rally has given a good surge by 420 percent, while Bitcoin was only seen getting a hike by 20 percent as giving a good amount of surge in the ETH. However, the experts feel that the real growth would be expected in the fourth quarter as this is just the start.