![[시황] Bitcoin 36,000 dollars… “Possibility of ,000”-CoinDesk Korea Value beyond trust](http://www.coindeskkorea.com/news/photo/202101/72483_9870_4419.jpg "[시황] Bitcoin 36,000 dollars… “Possibility of ,000”-CoinDesk Korea Value beyond trust")
On the 15th, the price of Bitcoin fell below the 2021 average. While BTC and ETH are bullish this year, some other DeFi tokens are on a steeper rise.
- Bitcoin (BTC) traded at around $36,000 each at 2:30 pm this afternoon. It fell about 7.3% in 24 hours.
- In the last 24 hours, the price of bitcoin has ranged between $3425 and $38823.
- On the hourly price chart, the bitcoin price fell below the 10-hour and 50-hour shift ratio. This represents a downtrend signal for market technology analysts.
Bitcoin price fell. Following this steady decline for 24 hours, the world’s oldest cryptocurrency recovered back to its current article deadline of $36,000 only after trough at $34,425.
“The price has stabilized at $40,000,” said Constantine Kogan, partner at Cryptocurrency Investment Company Wave Financial. We are expecting the price to drop to 34,000 dollars.” “Next time it is likely to drop to at least $26,000.”Said.
It’s a bit pessimistic outlook from analysts’ mouth, but the huge volume seen by the start of 2021 is now showing a clear decline.
During the first two weeks of the new year, the daily spot trading volume of Bitcoin on the 8 major exchanges (Bitfinex, BitFlyer, Bitstamp, Coinbase, Gemini, ItBit, Kraken and PoloniX) tracked by CoinDesk is average per day. It was $6.1 billion. The spot trading volume on the 15th was $4.2 billion.
“There is definitely a force to pull each other between North American and Asian traders,” said Joel Edgerton, chief operating officer of cryptocurrency exchange BitFlyer USA. It will decrease and there is a possibility that it will lead the market atmosphere in Asia.”
Many investors and traders will stop trading on Monday, Martin Luther King’s Day, including the US stock market. The US stock market ended the week in a bear market along with other leading indices.
“It’s important to remember that the macroscopic outlook has not changed,” said BeatFlyer’s Edgerton.
“The demand for crypto assets is increasing, and now holders are unwilling to sell crypto assets, and the supply is limited. This will naturally lead to long-term price increases.”
Andrew Two, director of quant trading company Efficient Frontier, presented the inverse relationship between the US dollar index and Bitcoin as a macroeconomic example. Also known as DXY, this index measures the value of the US dollar against a basket of other fiat currencies.
“The rise of DXY coincided with the decline of BTC,” said Too. “Basically, the economic situation looks bad, so it seems that the assets are moving to the dollar without risk,” he told CoinDesk.
Looking at the situation from at least the beginning of 2021 to the present, when Bitcoin rises, DXY appears to fall, and vice versa. On the 15th, while Bitcoin fell for 24 hours, DXY rose 0.55%%.
Famous DeFi tokens, better than Ether in 2021
Ether (ETH), the second largest cryptocurrency market capitalization, traded for $1166 at 2:30 pm today. This is a decrease of 4.88% in 24 hours.
In 2021, Bitcoin rose more than 20%. However, Ether easily surpassed it and jumped more than 50% compared to the beginning of this year. In the meantime, two well-known projects built on the Ethereum platform used for DeFi recorded even steeper gains.
Tokens related to Synthetix, a derivatives liquidity platform, jumped 83% from the beginning of this year, and the tokens of the loan protocol Aave rose 69% over the same period.
Jean-Marc Bonfu, managing partner of investment firm Tellurian Capital, told CoinDesk that DeFi tokens such as Abe and Synthetics have the potential to increase their prices significantly in a bullish market. He recently talked about the DeFi token’s performance in the past three months. I posted the article on Twitter. However, Bonfu warned that these lesser-known and less liquid tokens have weaknesses.
He said, “While Ether constitutes the main currency of DeFi, the DeFi coins are more relevant to the application and, if properly implemented, have the potential to generate and grow additional monetary elements.” Assets, by their nature, will perform better when the general cryptocurrency market is strong, but when it is weak, it will perform worse.”
Other market trends
Commodity market
- West Texas heavy duty down 2.9% to $52.12 per barrel
- Gold price, up 1.1% to $1825 per ounce
Government bonds
- 10-year Treasury bond yield fell 3.4%, 1.092%
· Translated by NewsPeppermint.
Reports and press releases should be sent to [email protected].