The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Ethereum reached a record high of $1 563
Ethereum has reached a new all-time high of $1 563 on Wednesday, according to CoinDesk. The altcoin rose in value by 16 times since March 2020.
What does it mean for traders?
The world’s second-largest cryptocurrency, which has a market cap of $160 billion, has gained 111% since the start of 2021, outpacing bitcoin’s 24% rise. However, experts see further growth potential. Galaxy Trading expects the price to trade as high as $3,000 in the next few weeks. According to Fundstrat Global Advisors, Ethereum may rise to $10 500. Among the factors positive for the ETH, analysts cited the development of the decentralized finance (commonly referred to as DeFi) and the major upgrade of the cryptocurrency’s network.
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Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.