09:22
Thoughts on the crypto market on 02/06/2021

During the day, Bitcoin was able to gain a foothold above $ 37800 and continue the upward movement. An hour ago, a local maximum of $ 39800 was reached, after which the price of the main cryptocurrency fell back to $ 39150 - $ 39200, where it is currently being traded.

Market capitalization is $ 1184 billion, dominance index is 61.5%.

American indices rose again yesterday. The Dow Jones added 0.3%, the Nasdaq rose 0.57%, the S&P 500 closed at 3886, gaining 0.39%, and reached 3894 during the trading session.

Gold and silver are up, oil is still slightly below $ 60.

The main positive is that the US Senate approved a resolution that will allow the adoption of a 1.9 trillion aid package without the participation of Republicans.

The indices are at their highs, the S&P 500 is one step up to 3900, and then 4000 is just around the corner. Stock markets have been rising for a week now. 

On the crypto market, Bitcoin was able to gain a foothold above $ 37,800 and approached the upper border of a large range between $ 30K and $ 40K. The price has been holding above $ 37800 for more than 6 hours, and for the last 2 hours it has been holding above $ 38800, market capitalization has renewed highs. Possibly a $ 40K test and an attempt to upgrade ATH in the weekend thin market.

The priority option for the weekend is Bitcoin in the range of $ 37,800 - $ 40,000, attempts to update ATH, the growth of altcoins and new highs in market capitalization are possible.

An alternative option is the departure of the main cryptocurrency to the range of $ 37800 - $ 36500.

Coinbase is going to IPO. In this regard, there is an opinion that regulation will be tightened on it and some coins will be delisted, because the exchange will be forced to listen to the wishes and recommendations of the SEC. But I think that in this case, the exchange will face an outflow of clients, who will be gladly picked up by other TOP exchanges. Therefore, Coinbase will balance the desire for an IPO and the long-term interests of the business.

In Nigeria, the central bank has banned banks from opening accounts for cryptocurrency companies. Although it is a fairly large country with a population larger than Russia, and according to Paxful, Nigeria has the second largest Bitcoin trade in the world, the market did not react to the situation. Apparently, because the ban on banks from working with crypto companies will not particularly affect either interest in Bitcoin or volumes. Unfortunately, the connection between the level of development of the country and the attitude towards the crypt is once again confirmed. 

 

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Category: Analytics | Views: 77 | Added by: andryvrozhkov | Tags: #bitcoin #bitcoin news #btc | Rating: 5.0/1
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