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    TSLA   US88160R1014

TESLA, INC.

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Tesla : Bitcoin breaches $60,000 with conviction as traders eye up new all-time high

10/15/2021 | 11:01am EST

Bitcoin broke through the $60,000 mark moments ago, as rumours of an official green light for a Bitcoin futures exchange-traded fund gathered pace.

The flagship cryptocurrency threw a fleeting wick above $60,000 in the early hours as news emerged that the Securities and Exchange Commission – the US’s financial lawmaker – was ready to give the thumbs up to the first Bitcoin ETF.

The rumour saw the price of Bitcoin shift dramatically from $57,000 to bounce off the underside of $60k for much of the day where it made the occasional, albeit split-second, sortie above the line.

READ MORE: SEC looks set to approve Bitcoin ETF

As the US began to wake up, news of the SEC’s intentions spread like wildfire, carrying Bitcoin above $60,000 – with some degree of conviction, but also with signs of potentially-robust resistance.

If this current resistance – which has seen the price repeatedly flung above and below $60k during the last hour – can be overcome, it will whet the appetites of many analysts and traders with the prospect of BTC now being within sniffing distance of the $64,899 figure it peaked at on April 14.

That all-time high came on the back of Tesla CEO Elon Musk’s repeated tweets about Bitcoin – particularly how his electric car company would be accepting the original cryptocurrency as payment.

READ MORE: Bitcoin rocked by Elon Musk’s dramatic Tesla announcement

The high was, however, short lived as the South African entrepreneur soon backed down, citing the environmental cost of Bitcoin mining as a reason to u-turn on the announcement.

Within days, BTC fell back to $56k before a dramatic slump in May left it almost $25,000 down.

A return to bullish form arrived at the start of October when Bitcoin eased itself up from $48,000, steadily rising to the mid-fifties.

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The post Bitcoin breaches $60,000 with conviction as traders eye up new all-time high appeared first on CityAM.

© City AM, source Newspaper

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Financials (USD)
Sales 2021 51 169 M - -
Net income 2021 4 893 M - -
Net cash 2021 9 625 M - -
P/E ratio 2021 261x
Yield 2021 -
Capitalization 1 144 B 1 144 B -
EV / Sales 2021 22,2x
EV / Sales 2022 15,8x
Nbr of Employees 70 757
Free-Float 80,8%
Chart TESLA, INC.
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Tesla, Inc. Technical Analysis Chart | TSLA | US88160R1014 | MarketScreener
Technical analysis trends TESLA, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 34
Last Close Price 1 136,99 $
Average target price 857,00 $
Spread / Average Target -24,6%
EPS Revisions
Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
James Rupert Murdoch Independent Director
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