Bitcoin Breakout

Mati Greenspan eToro Cyprus

Today's Highlights

A Sad New Record
An old adage
Bitcoin Breakout

Please note: All data, figures & graphs below are valid as of December 21st. All trading caries risk. Only risk capital you're prepared to lose.

Market Overview

Bittersweet emotions on Wall Street yesterday as the Dow Jones reached a brand new all-time record high of 19,986.50 points. Try is it might it just could not muster the additional 13.5 points required to cross the party level of 20k.

Maybe we'll see it cross today and the raging bulls can cool their jets a bit.

Still, the fact that global stock indexes are rising and gold is falling in the wake of multiple terror attacks around the world seems a bit counter-logical. There's an old adage in the market that may be fitting here...

"The markets can remain irrational longer than you can stay solvent."

Meaning, a short term trader needs to make sure they're on the right side of the moves.

Bitcoin Surge

If not in the stock markets, the fears are showing up somewhere. It's been said before that Bitcoin is the new gold. So while gold shows absolutely no sign of acting like a barometer of fear, investors can start to look at this new shiny digital matter for guidance.

This chart shows the price over the last few months. The yellow line was the previous high of $775 a coin reached in June. The price has now shot past the previous high representing a very strong breakout.

Author

Mati Greenspan

eToro Cyprus

Producing social finance marketing materials by E-mail, blogs, and videos. Project manager for the eToro Blog Site, assisting paid users to submit content. Assisting VIP clients to deposit and manage portfolios of ov

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.