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Bitcoin bulls: Ready, set, go [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Major US indices had a good day yesterday, as all three of them rallied between 1.50 and 1.75% on the back of strong earnings from the big US banks. The rise in trading that banks inherited from the pandemic continued boosting their revenues.

In the tech IPOs space, investors offered a warm welcome to GitLab in Nasdaq yesterday. The company had priced its stock at $77 on Wednesday, and the stock price closed above the $100 mark at the end of the first day, giving the company a near $15 billion valuation.

Elsewhere, the International Energy Agency said that ‘an acute shortage in natural gas, LNG and coal supplies stemming from the gathering global economic recovery has sparked a precipitous run-up in prices for energy supplies and is triggering a massive switch to oil products’, adding that the latter could raise the daily consumption by 500’000 barrels per day over the next 6 months.

And finally, the fact that the US regulators could soon give a green light for Bitcoin ETFs is boosting optimism. The weekend looks promising for Bitcoin, which is now testing the $60K mark, and will certainly claim a fresh all-time high very soon. And Bitcoin appetite is about to boost interest in altcoins as well!

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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