On Feb. 8, news that electric vehicle maker Tesla had added Bitcoin to its balance sheet sent prices and market sentiment to record highs. BTC prices hit an all-time high of $47,500 in early Asian trading on Feb. 9.
“I think that it’s definitely clear that retail is here. We are seeing absolutely massive surges across the board in twitter activity, trading activity, and price movement for altcoins which institutions are not touching. Today’s movement can absolutely be attributed to Elon Musk, but BTC social activity has been on a tear all year.”