Bitcoin price: BTC rallies to extend Elon Musk Tesla gains, hitting $48k record high

Naeem Aslam, chief market analyst at AVATrade said in a statement: “The crypto digital king recorded another all-time high today.

“It seems like the bull rally is in full swing now, and nothing is going to stop the bitcoin price from touching the $50,000 price level.”

eToro cryptoasset analyst Simon Peters added: “With this kind of endorsement from a multi-billion dollar company, it's likely the price will hit $50,000 by the end of the week.”

However, Mr Ardoino believes significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.

He said: “Always do your own research and never trade with resources you are not prepared to lose entirely.

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