Fundamentals and expected events: week 22
Crypto markets: After a very volatile and turbulent month for the crypto markets, Bitcoin (BTC) was almost doomed to extend its losing streak to a record of nine weeks in a row. However, that scenario has been narrowly avoided after the leading cryptocurrency jumped in the late hours on Sunday to hit a seven-day high of $30,723. The most asked question among investors now is whether the largest digital coin will be able to maintain this rising momentum. PlatonCoin reached a new ATH and broke through level of 1 USD and only hours later leve of 1 EUR.
Stock and commodity markets: European stock markets are rising in unison at the beginning of the new week, along with the weakening of the dollar in favour of the single currency. Brent and WTI are trading at two-month highs and have gained around 0.6%. Precious metals are benefiting from the USD weakness and trading higher. Silver is the best performer, trading 0.8% higher.
Fundaments and important events: China is loosening its lockdown measures in Beijing and Shanghai, which has positive effect on the markets. European Union has again failed to reach agreement on Russian oil embargo, thus oil prices are rising again. American president Joe Biden is expected to meet with FED head this Tuesday. There will be several important macro data reported from the U.S. and a meeting of OPEC countries. EU’s inflation for May is expected this week. It will be published first for Germany and a slight increase is expected across the whole EU.
Tip: 3 basic risks and how to protect your investment
Cryptomarkets and marketcap: week 22
BTC / USD
ETH / USD
Disclaimer: This is not an offer for concluding a contract. Trading cryptocurrencies is a highly risky business and as such you are the only person bearing the risk and responsible for your own decisions. Do not engage in trading unless you do your own research and are fully knowledgeable of the risks.