Week 07 – Overview of fundamentals and markets

cryptocurrencies, week 07

Welcome to our weekly brief. Here you will find what is going on on the markets and what are expected events in week 07. It should help you with jumping back on track. 

Fundamentals and expected events: week 07

  • Cryptocurrencies: Cryptomarket underwent a slight correction after Bitcoin was rejected again at $ 50,000. The slump pulled down the total market capitalization of cryptocurrencies by about $ 70 billion. There is now great volatility and price fluctuations on the cryptomarket in both directions. Bitcoin is now trying to gain back the crucial threshold of $ 50,000, and the next few days it will show whether it will be able to break through and possibly maintain this threshold.
  • Stock and commodity markets: European stock markets grew today, mainly due to strong economic growth in Japan in the last quarter of last year, which was better than expected. Developments in the new US fiscal policy are also having a positive effect. To some extent, reports of vaccination progress in Britain may also have had a positive effect. Overall activity was weak today with regard to holidays in the USA, China, Hong Kong and Taiwan, in Asia the holidays will continue. Today, oil continued to grow, mainly due to expectations of a stronger pace of global economic recovery. Gold lost slightly, silver increased its price.
  • Important events: Only announcements of macroeconomic indicators from Great Britain, the USA and France are expected this week. New Year celebrations continue in Asia.

Cryptomarkets and marketcap: week 07

The total crypto market volume over the last 24 hours is $216.22B, which makes a 2.87% increase. The total volume in DeFi is currently $18.28B, 8.46% of the total crypto market 24-hour volume. The volume of all stable coins is now $168.91B, which is 78.12% of the total crypto market 24-hour volume.
Bitcoin’s price is currently $47,898.89.
Bitcoin’s dominance is currently 60.47%, a decrease of 0.67% over the day. (coinmarketcap.com)
Market sentiment is at 93 points, meaning extreme greed and a sharp increase from last weeks 83 points to almost maximum of the chart.

BTC/USD

The most actual price for one Bitcoin [BTC] is $47 786.35. Bitcoin is listed on 76 exchanges with a sum of 400 active markets. The 24h volume of [BTC] is $57 000 595 266, while the Bitcoin market cap is $890 239 077 347 which ranks it as #1 of all cryptocurrencies. (coinpaprika.com)

A historic week full of news that accompanied strong rises for Bitcoin is behind us, with a gain of over 25% recording the best week in three years, since February 2018, which was a completely different period from the current one.

In that week we found ourselves with prices of Bitcoin and the entire sector in a critical moment of strong declines.

Graphical user interface, chart, histogram

ETH/USD

The most actual price for one Ethereum [ETH] is $1 796.15. Ethereum is listed on 93 exchanges with a sum of 400 active markets. The 24h volume of [ETH] is $28 103 457 485, while the Ethereum market cap is $205 987 124 603 which ranks it as #2 of all cryptocurrencies. (coinpaprika.com)

The week ended with the weekend seeing new all-time highs for Bitcoin and Ethereum.

On Saturday it came very close to $1,900 for the first time.

Technically, Ethereum’s trend remains solidly on the upside, a trend that has remained unbroken since mid-December. From current levels, a first bearish indication would only occur with prices below $1,500, a distance of over 15% from current values.

Graphical user interface, chart

DOT/USD

The most actual price for one Polkadot [DOT] is $29.15. Polkadot is listed on 23 exchanges with a sum of 56 active markets. The 24h volume of [DOT] is $1 640 428 688, while the Polkadot market cap is $24 857 843 071 which ranks it as #6 of all cryptocurrencies. (coinpaprika.com)

We are currently close to $ 29,15 apiece, as we see on the chart, investors are watching the pattern of the open-bullish channel. If investors maintain the support line pattern, growth will not end. DOT can create new highs practically every week.

Chart

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