Bitcoin Hits $48,000 For The First Time. What’s Next?

Bitcoin reached $48,000 for the first time at 6:54 a.m. UTC on the Bitstamp exchange, marching toward the $50,000 mark. The market cap of the world’s largest cryptocurrency has now eclipsed $891 billion.

Bitcoin is now up almost 24 percent since leading e-car manufacturer announced its $1.5 billion forays into the cryptocurrency, which many analysts view as a watershed moment for the nascent asset.

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