Bitcoin (BTC/USD) tops $57,000, Elon Musk says price seems high

Bitcoin (BTC/USD) tops $57,000, Elon Musk says price seems high

Bitcoin has been extending its upwards move over the weekend. After the granddaddy of cryptocurrencies reached a market capitalization of $1 trillion, it has hit a new peak of $57,663, as quoted on Coinbase.

Elon Musk, founder of Tesla – and Dogecoin enthusiast – has tweeted that prices of both BTC and Ethereum (ETH) “seem high.”  Here is the daily chart of BTC/USD, which has changed hands below $20,000 around two months ago.

Earlier on, the world’s second-richest person said that digital coins are a “less dumb” version of cash. Apart from Musk, institutional interest from others such as Mastercard, BNY Mellon and Morgan Stanley has one of the critical upside drivers for BTC.

(Source fxstreet)