Last week was not full of events, but we still saw decent moves in the charts of majors, S&P500, NASDAQ, oil, and crypto. The upcoming week will bring even more volatility to your favorite assets!
Tesla will be sold for bitcoins
The BTC skyrocketed to $50 000 but dropped just below this level as investors started closing orders to take profit. The total crypto market cap has surpassed $1.5 trillion. That rally was triggered by a seismic shift in investors’ attitude.
Why is it important?
More and more big players such as large corporations and Wall Street fund managers changed their minds towards digital assets and started taking them seriously. Here are few examples.
- Tesla’s Elon Musk invested $1.5 billion in bitcoin and pledged to soon accept payments in the BTC.
- MasterCard uncovered its plans to let its customers “move digital value — traditional or crypto — however, they want”.
- Bitcoin wallet BitPay's users in the US can now add their BitPay card to Apple Wallet. Apple Pay will allow paying in the bitcoin in stores and apps.
- PayPal has already offered users in the US to buy, sell and hold cryptocurrencies directly through its system.
- According to Bloomberg, Morgan Stanley is also weighing a bet on bitcoin.
Moreover, these companies are going to benefit from their appeal to cryptocurrencies. For example, PayPal has already surged by nearly 40% since it announced payments in crypto. Apple should be the next one to gain. One by one, big companies will join the crypto world.
No doubt that cryptocurrencies will rally further up, and the king bitcoin especially. Now BTC/USD takes a breath, but in the upcoming week, it has all chances to surpass the $50 000 threshold.
You can trade BTC and other cryptocurrencies in the FBS Trader app.
Don't know how to trade cryptocurrencies? Here are some simple steps.
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
Australia will publish its Inflation Rate on January 25, at 02:30 MT 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