![[시황] Bitcoin recovers ,000, New Year’s optimism](http://www.coindeskkorea.com/news/photo/202012/72339_9566_405.jpg "[시황] Bitcoin recovers ,000, New Year’s optimism")
Bitcoin price broke through the highest price of 28,000 dollars each on the 27th, and then fell to the level of 26,000 dollars on the 29th and recovered to 27,000 dollars at 10 am on the 30th. As individual and corporate investors are expected to drive price increases after the year-end holiday, investors will not be shaken by a temporary price decline.
- As of 10 o’clock this morning, bitcoins traded for about $27,553 each. That’s a 3.15% increase in 24 hours.
- In the last 24 hours, Bitcoin has been priced between $25,875 and $27795.
- On the hourly price chart, the Bitcoin price remained between the 10-hour and 50-hour moving averages.
Industry traders and analysts explained that “the recent price movements are mainly driven by individual investors as trading by institutional investors is restricted during the holiday season.”
“Considering that the entire last week was a holiday, the price movements like this are very rare. During the holiday season, there is usually a liquidity crisis. Along with the recent rise in the price of bitcoin, the interest of individual Chinese investors in particular has surged, and the bitcoin market fever seems to have risen as well.” -Mabel Jang, CEO of Cryptocurrency Hedge Fund Multicoin Capital
Jang discovered several patterns in the recent trading activities of individual investors. Some investors were buying bitcoin and ether by selling altcoins. Along with this, there were also investors looking for coins with the potential to surpass the bitcoin price in the coming months.
In the market analysis data published on the 28th, the cryptocurrency analysis company TradeBlock “The recent price increase of Bitcoin and Ether stems from the massive exchange of XRP (Ripple) tokens.”Explained.
“The only digital assets that the US Securities and Exchange Commission (SEC) have specified as not securities are Bitcoin and Ether. After the SEC recently filed a lawsuit with Reflaps, claiming that the sale of XRP tokens violates the federal securities laws, regulatory uncertainty over the altcoin market has grown further.
However, the cryptocurrency market itself is showing the largest increase ever. So, traders are looking for opportunities in coins like Bitcoin or Ether that are relatively safe in terms of regulation.” -Trade block market analysis data
In the last 24 hours, the price of Bitcoin has risen to $27,000 each. Most market participants seem to expect prices to rise in the future as various investment activities resume after the holiday season.
Dennis Binokurf, CEO of Cryptocurrency Brokerage Biquant, predicted that “After the expected investment flow in the retail market has materialized, the price of bitcoin will enter $30,000 each with the start of the new year.”
“Bitcoin’s price movement, which moved to the $20,000 resistance line last month, supports the so-called’$30,000 optimism’,” said Chris Thomas, CEO of Swissquote Bank, which deals with digital assets. Small selloffs were observed three times on November 25th, December 1st and 2nd, but prices recovered quickly as demand for bitcoin surpassed sales.
“After three selloffs, investors were reluctant to sell any more. It was because I thought I could sell it at a higher price within a week or two or a few months. Bitcoin prices are expected to range between $26,500 and $27,500 each in the first few days of the new year. After that, on January 4th, institutional investors will enter the market again.”
Ether decreases trading activity by individual investors
Ether (ETH), the second largest of all cryptocurrencies, traded for $739 each as of 10:00 this morning. That’s a 3.75% increase over 24 hours.
Like Bitcoin, Ether’s price fell during the holiday season, but optimism about the future market is dominant.
“Currently, Ether trading volume is 15% higher than average,” said Guy Hershey of the US branch of eToro, an online investment platform. this is Evidence that Ether prices are on the rise“The price of Ether will continue to rise in the new year. In the first half of next year, it will be able to exceed $800 each.”
Institutional investors are not yet paying much attention to Ether. However, the attitude of institutional investors is expected to change significantly as the Chicago Commercial Exchange (CME) recently announced the launch of the Ether futures contract in February next year. Some analysts have interpreted this as a positive signal for Ether’s rising price.
“The launch of CME Group’s Ether futures will accelerate the launch of Ether products by financial institutions seeking to diversify their digital assets. This, coupled with the continued rise in the DeFi sector, will be a catalyst for Ether to outperform Bitcoin in the near future.” -Denis Vinokurf, CEO of Brokerage Biquant
Not only institutional investors but also individual investors seem to be more interested in Ether than before. According to DeFi Pulse, a DeFi analyst firm, DeFi Pulse refers to the total value of cryptocurrency tied to various smart contracts within DeFi Total deposited assets (TVL) reached $14.47 billion as of the 29th.
Peter Chan, who is in charge of DeFi trading at cryptocurrency company OneBit Quant, said, “In terms of market formation, Ether has a fairly stable price flow than Bitcoin.” “Many individual investors are still jumping into the Ether market.” Mentioned.
Other market trends
The cryptocurrency included in CoinDesk 20 turned upward this morning. Let’s look at the 10 o’clock number.
- Ripple (XRP) token 38.65% increase
- Stellar (XLM) rose 21.37%
- Chainlink (LINK) rose 16.7%
- Cardano (ADA) token increased by 13.9%
Stock market
- Japan’s Nikkei 225 Index rose by 2.66% – a record high since August 1990, interpreted as a result of the passage of 900 billion won worth of US stimulus measures
- UK FTSE100 Index Up 1.6%-EU and UK Agree on Brexit Trade Agreement, Expected to Clear UK Economic Uncertainty
- US S&P500 Index rose 0.26%-concerns over economic conditions after the holiday season and whether the US Senate will approve the second largest stimulus package in history is a factor in investors’ anxiety.
Commodity market
- $47.98 per barrel of West Texas heavy oil, up 0.76%
- Gold price rises slightly by 0.31% to reach $1879 and 3 cents per ounce
Government bonds
- 10-year Treasury bond yield fell to 0.931%
· Translated by NewsPeppermint.
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