The United States will publish the Initial Jobless Claims on Thursday, December 30, at 15:30 GMT+2 (MetaTrader time).
Ethereum: faster than Bitcoin
Until April, Bitcoin and Ethereum were having very similar trajectories. Both coins reached and re-established themselves at their corresponding all-time highs - Bitcoin at $60,000 and Ethereum at $2,000 and continued going sideways ceding some of the gains. However, while Bitcoin has dropped below the 50-MA floating 10% below the all-time high level, Ethereum kept going upwards and crossed $3,000! Moreover, it's been going upwards since, and currently, it trades at $3,400. As a result, if Bitcoin's market cap was forming around 70% of the total digital currencies value in trade, it is now below 50%. Is Bitcoin losing its place as a primary crypto coin?
What does it mean?
Nobody really knows. Proponents of cryptocurrencies suggest that the rise of Ethereum represents the further expansion of most tokens out there as the majority of them operate based on Ethereum technology. Bitcoin is becoming a digital reserve asset like gold used to be among traditional assets, and Ethereum is seen as a more risky one. Will the rally continue? Observers hesitate to comment but the fact is there: more fiat money is invested in the market of digital assets - that eventually pushed Ethereum through the mark of $3000, and it may be another $3000 in the upside waiting to get crossed.
What can you do?
You can trade Bitcon, Ethereum and other crypto currencies in the FBS Trader!
The United States will publish the ISM Non-Manufacturing PMI on Thursday, January 6, at 17:00 GMT+2 (MetaTrader time).
The Federal Reserve (FOMC), US central bank, will publish its December meeting minutes on Wednesday, January 5, at 21:00 GMT+2 (MetaTrader time).
Germany will release the flash Purchasing Managers' Index (PMI) for manufacturing and services industries at 10:30 GMT+2 on January 24.
Leibniz Centre for European Economic Research (ZEW) will release an economic sentiment index for Germany on January 18, 12:00 GMT+2
Great Britain's office for national statistics will release CPI data on January 19, 09:00 GMT+2.