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While Bitcoin rose again to $ 40,000, experts see $ 50,000 | Business and Financial Issues

Bitcoin gained about 4.5% on Monday to reach $ 41,020.

I am Bloomberg

After a difficult week, Bitcoin has surpassed $ 40,000, reaching a level of more than two weeks.

The world’s largest fund gained 4.5% on Monday to $ 41,020, extending its meeting to the second day. The fund has earned about 9% since Friday. The broader Bloomberg Galaxy Crypto Index, which tracks some of the largest weapons, has also improved, increasing by 7.7% at the same time.

With Bitcoin across the $ 40,000 limit, many charters are looking at $ 42,500 as the next breakout. This figure represents approximately 200 moving days and the addition could mean that the sum is $ 50,000.

“Bitcoin has always been relatively stable and the ideas we had have not been stable. The question is where do we live? What is this new house ?,” said Tom Essaye, a former Merrill Lynch businessman who started the newsletter “The Sevens Report”. “For Bitcoin to resume on the platform, I think you need to make sure more people follow through.”

Cryptocurrencies have been under pressure in recent weeks, with Bitcoin losing about 30% since mid-April, when it reached almost $ 65,000. Recent sales have been fueled by a public outcry from Ella Musk of Tesla Inc., who criticized the amount of power that servers contribute to the brand and reintroduced what was previously given to allow customers to buy their cars using cryptocurrency. The rise in Chinese supervision has also sparked concern.

But prices rose sharply earlier this week after former hedge fund chief Paul Tudor Jones – who said last year Bitcoin could be a good wall against inflation – reaffirmed the investment in a televised address.

“I love Bitcoin as a history exchange,” said Tudor Jones of Tudor Investment Corp. said in an interview with CNBC. “Everyone asks me what to do with my Bitcoin? All I know is, I want 5% gold, 5% Bitcoin, 5% currency, 5% commodity.”

Meanwhile, over the weekend, Musk is back in the market, saying via a tweet that Tesla allows events in Bitcoin once they are played with pure power. The retailer said it wants the miners, who have been heavily self-assessed in recent months, to use about 50% clean energy. The Cambridge Center for Alternative Finance has estimated that 39% of crypto mines are run by renewable resources, especially electricity.

Bitcoin partners, including Bitcoin Cash, Dash, and Ether also found out Monday.

-I assisted by Kenneth Sexton.

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