During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
Bitcoin generally tumbles
On Thursday, Bitcoin generally dived, proceeding with its losing marathon.
After Monday’s leap, Bitcoin moved down towards $6,500. As a result, on Thursday the currency pair BTC/USD hit $6,453.14, declining by 0.9% on the Kraken exchange.
However, some market experts pointed out that Bitcoin’s uncertainly might be coming to its end. To prove their words, they refer to the soaring number of transactions a second. They’re assured that it’s a 100% sign that the end of the flat cycle is over there.
As a matter of fact, transactions a second appears to be a gauge of the scalability of blockchain technology.
Some financial analysts are assured that the coming several weeks could appear to be a near-term pivotal point for many crypto assets. It can be explained by the fact that the vast majority of crypto assets have stayed in narrow consolidations for a long period, although many are actually testing crucial technical trading levels. So, if these levels are broken, it will undoubtedly provoke a dramatic response by market participants.
Experts added that the midcap, large-cap as well as small-cap indexes, which all of the firm tracks are pushing resistance, as well as a jump above the index peaks in September could provoke a run up.
The collective alternative to Bitcoin, altcoins followed the most popular digital coin down on Thursday. As a matter of fact, the currency pair ETH/USD lost approximately 2.1% hitting $198.76. The currency pair BCH/USD lost nearly 2.3% hitting $429.10. The currency pair LTC/USD declined by about 2.1% showing $51.47. The currency pair XRP/USD dipped by almost 2.3% demonstrating 45 cents.
The Cboe Global Markets November delivery futures XBTX8 lost 0.7% ending up with $6,380. Besides this, the CME Group October delivery futures BTCV8 concluded Thursday at $6,390, heading south by 0.5%.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.