Bitcoin has raced past $38000 to start week on a strong note . The leading cryptocurrency rose as much as 12 % to hit a high of 39850 just few
points away from $40000 . bitcoin hit a 6 week high early monday morning .
The rise was largely driven by over leveraged shorts in the system which led to short squeeze . Other coins were also up ether at $2320 , bnb $321
The uplift in sentiment was due to tesla boss elons comments last week that he holds crypto and tesla will likely start accepting payments in bitcoin.
Will have to see if positive sentiment is enough to take bitcoin above $40000 in coming days .At time of writing bitcoin was trading at $38548 down
about $1300 from $39850 .
There were also reports of amazon readying to start to accepting cryptocurrency as payments soon , unconfirmed though.
If amazon starts accepting cud lead to more bullish moves in market .
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