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On Monday, crypto assets proceeded with their dive, with all key cryptocurrencies starting the trading week in the red because the disastrous September demonstrates no sign of receding.
The world’s number one crypto asset, Bitcoin retreated towards its year’s minimum, trading at $6,120.31, which is its lowest value for almost a month. During early morning trade, on the Kraken exchange, the currency pair BTC/USD showed $6,299.89, declining by 1.4% since Sunday.
The crypto market cap has lost almost $50 billion off the overall value of all digital currencies for less than five days. It gave one blogger grounds to talk about the integrity of the crypto market. Due to the fact that crypto assets are decentralized, anybody is capable of creating his own, and all types of outfits are currently mining fresh units of currently existing digital coins. Some experts even dared to label crypto assets as a “big joke” because a great number of people keep losing huge amounts expressed in fiat currencies normally hated by them.
On Saturday, the number two crypto asset, Ethereum, went down below $200 on Saturday. It turned out to be the first such a leap since September last year and made a fresh one-year minimum, reaching $185. As a matter of fact, the currency pair ETH/USD came up with a reading of $196.44, heading south by approximately 2.5%.
In addition to this, the losses kept mounting. The currency pair BCH/USD headed south by 2% trading at $478.60. Furthermore, the currency pair LTC/USD slumped by 3.4% at $54.20. The currency pair XRP/USD hit 27 cents, losing about 3.3%.
As for futures, they started the trading week on the back foot. Eventually, September delivery Cboe Global Markets Group Inc.’s contract XBTU8 went down by 2.1% being worth $6,270. At the same time, September delivery CME Group Inc. contract BTCU8 lost 2% reaching $6,260.
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?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
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