Bitcoin hits $50,000 as the euphoria continues

Author: Justin Low | Category: Cryptocurrency

Bitcoin touches $50,000 for the first time

Bitcoin D1 16-02
After the Tesla news last week, it sure seemed like an inevitability - especially with Elon Musk's knack for getting social media and the crowd all riled up.

And finally, here we are. As more and more institutional offerings start to become more accepting of Bitcoin, it may be tough to call a top on this and to say where this rally might run out of steam.

The BofA February fund manager survey also revealed that long Bitcoin was the second-most crowded trade (after long tech stocks) among investors at this point in time.

If anything, it highlights how much FOMO and risk-taking is at play in the market right now and nobody wants to be the one staying on the sidelines and missing all the fun.
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