BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK

0

On March 24, Tesla CEO Elon Musk announced that U.S. buyers are now able to purchase Tesla vehicles with Bitcoin (BTC). Musk also tweeted that Tesla will not convert BTC payments into fiat but will add to its existing treasury of about 48,000 Bitcoin. 

Wedbush Securities analyst Dan Ives expects Bitcoin to account for less than 5% of Tesla transactions, but the percentage could move up as crypto adoption increases. The analyst said the move by Tesla could be a defining moment for Bitcoin from a transactional point of view.

BTC, ETH, BNB, ADA, DOT, XRP, UNI, THETA, LTC, LINK
Daily cryptocurrency market performance. Source: Coin360

This week, CNBC host Jim Cramer thanked Anthony Pompliano on the Pomp Podcast for convincing him to invest $500,000 in Bitcoin (BTC) in September 2020. Cramer said his Bitcoin investment has made him “a ton of money.”

However, during the same period, Cramer said his gold investment “let him down.” Due to this, Cramer altered his age-old advice of allocating 10% of the portfolio to gold. He now recommends investors put 5% of their portfolio allocation in gold and 5% in Bitcoin.

With positive news flow acting as a tailwind, could Bitcoin and major altcoins resume their uptrend? Let’s analyze the charts of the top-10 cryptocurrencies to find out.