Thoughts on the crypto market on 12/23/2020

Bitcoin fixed above 23K during the day and continued to grow. For more than 5 hours, the main cryptocurrency has been trading above 23,500, recently the price of Bitcoin went above 24K. Bitcoin is currently trading 23450 - 23660.

Market capitalization 653 billion, dominance index 67.3%.

Financial markets are practically in place - the Dow Jones lost 0.67%, the S&P 500 fell 0.21%, and the Nasdag added 0.51%. Oil is back below 50, gold is trading around 1870, and the dollar index is below 90.5.

Apple shares have grown on the news of the success in work on the electric car, the 900 billion aid package has been adopted by lawmakers and is awaiting Trump's signature (this signature no longer has any practical significance - Trump will not sign now, Biden will sign after his inauguration on January 20).

I think nothing significant will happen in traditional markets by the end of the week.

On the crypto market, Bitcoin has passed 23,200 since yesterday, consolidated above 23,500 and continued to move to the upper border of the wide trading range of 22,000 - 24,000, which was mentioned here.

With the growth of altcoins, it is not particularly developing - after a rise over the weekend and a drawdown on Monday, they did not restore their positions, and the situation with XRP brought the dominance index above 67%.

But you need to understand the picture of the market as a whole - Bitcoin is moving towards 24K, the dominance index is high, the holidays are ahead, which means, most likely, Bitcoin will be stable. Of course, everything happens in the markets. But in such a situation, the growth of the TOP of altos in the near future is the highest priority option.

Wirex has been granted Principal Member status in the VISA system. Of the crypto services, until now, only Coinbase had such a status. It is difficult and costly to get this status, and if they did it, we expect a mass product from this service in 2021.

Thoughts on the crypto market on 12/22/2020

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Category: Analytics | Views: 88 | Added by: andryvrozhkov | Tags: #Bitcoin #Bitcoin markets #BTC | Rating: 5.0/1
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