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Week 05 – Overview of fundamentals and markets

week 52, week 05

Welcome to our weekly brief. Here you will find what is going on on the markets and what are expected events in week 05. It should help you with jumping back on track. 

Fundamentals and expected events: week 05

  • Cryptocurrencies: Crypto markets recorded last week a slight growth and Bitcoin returned back above USD 33,000, where it is now trading more sideways. The biggest turmoil was caused by DOGE and XRP pumps. XRP is now losing.
  • Stock and commodity markets: Foreign stock markets are now rather optimistic to neutral. Wall Street is now in turmoil due to the event around the pump and dump affair of GameStop shares by many thousands of retail investors from the Reddit group WallStreetBets. There group also tried a similar scheme in cryptocurrencies, XRP and DOGE, and also silver. Today, the price of silver shot up by more than ten percent, to its highest price level since February 2013. At the same time, the shares of some of the companies that mine silver also rose significantly. And as with shares of the GameStop video game chain, which peaked late last week, it is now pushing the price of silver up sharply with its coordinated speculation.
  • Important events: The World Economic Forum took place quitetly last week and it was an online only event. Among the main topics were the need to reset the global economy and / or the regulation and adoption of digital currencies. More information about that in our articles. This week, the economic results for 2020 are expected, which are worse than expected in the EU zone, and therefore the recovery will also be slower and will look more like a K shape.

Cryptomarkets and marketcap: week 05

  • The total crypto market volume over the last 24 hours is $166.71B, which makes a 13.18% increase.
  • The total volume in DeFi is currently $12.52B, 7.51% of the total crypto market 24-hour volume.
  • The volume of all stable coins is now $130.24B, which is 78.13% of the total crypto market 24-hour volume.
  • Bitcoin’s price is currently $33,173.08.
  • Bitcoin’s dominance is currently 62.46%, an increase of 0.08% over the day.
  • Market sentiment is at 77 points, meaning greed and a slight increase from last weeks 74 points.

BTC/USD

The most actual price for one Bitcoin [BTC] is $33 119.61. Bitcoin is listed on 80 exchanges with a sum of 400 active markets. The 24h volume of [BTC] is $42 325 864 598, while the Bitcoin market cap is $616 568 224 114 which ranks it as #1 of all cryptocurrencies.

On the BTC / USD chart we see a round bottom pattern. We see support at $ 30,000. The resistance is on the chart at $ 38,500. In the graph we see the finished triangle.

Graphical user interface, chart

ETH/USD

The most actual price for one Ethereum [ETH] is $1 302.69. Ethereum is listed on 95 exchanges with a sum of 400 active markets. The 24h volume of [ETH] is $19 099 737 578, while the Ethereum market cap is $149 149 739 256 which ranks it as #2 of all cryptocurrencies.

In the graph we see the pattern of the growing channel. We can also watch the signs of the bullish flag. Current support is worth $ 1,250. Investors must respect resistance at $1 550.

Graphical user interface, chart

LTC/USD

The most actual price for one Litecoin [LTC] is $128.42. Litecoin is listed on 158 exchanges with a sum of 395 active markets. The 24h volume of [LTC] is $3 209 315 939, while the Litecoin market cap is $8 593 206 502 which ranks it as #7 of all cryptocurrencies.

In the LTC / USD chart, we see investors’ efforts to move within the triangle pattern. Current support is worth $ 120. We see the resistance at the resistance line value of 135 USD.

Graphical user interface, chart

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