[시황] Bitcoin surpassed 40,000 dollars again, Ether trading volume surged

Bitcoin price turned upward for the first time this week.

The bitcoin price, which ended at $40,000 last weekend, surpassed $40,000 again. Ether trading volume has increased more than 10 times from last year.

• As of 6 o’clock this morning, Bitcoin traded for about $39,318 each. This is an increase of 8.5% in 24 hours.
• In the last 24 hours, Bitcoin has been in price between $36,125 and $46,66.
• On the hourly price chart, the bitcoin price exceeded the 10-hour and 50-hour moving averages.

On the 14th, the price of bitcoin turned upward again and steadily rose to $466. Since then, it has declined slightly, and as of 10 am, it is trading at $39,400 each.

Guy Hershey, managing director of asset broker eToro, said, “It was taken for granted that the price of Bitcoin exceeded $40,000. Even when some investors are not sure of a price increase, the bitcoin buying process is Continued.

This price increase is an extension of that trend.” It was on the 10th that the last bitcoin price hit $40,000 before the price plummeted earlier this week.

Cryptocurrency OTC trader Alessandro Andreotti said, “Institutional investors are still buying bitcoins in large quantities. This trend is expected to continue for the time being, but it is too early to conclude.”

Funding rates are still positive in the derivatives market. This indicates that investors who borrowed from loans are continually buying products by increasing their loans for more profits. The funding rate is updated every 8 hours as the cost of holding a long position in the indefinite futures market.

“The high volatility has little impact on the propensity to invest in risk-taking,” said Denis Binokurov, senior researcher at cryptocurrency broker Bequant. “A recent success story that has seen profits in opportunistic and ambitious markets It can encourage the collective action of investors.”

In fact, Bitcoin volatility is very high. As of the 13th, the volatility of the last 30 days has exceeded 89%. This is the highest number since 92% on April 17 last year, during the early days of the Corona 19 pandemic.

Market analysts do not expect Bitcoin volatility to diminish. This may be a good opportunity for individual investors, but it is difficult to see as a good thing for institutional investors who need to predict investment outcomes from a long-term perspective.

Over-the-counter cryptocurrency investor Henrik Kugelberg said, “Investors should be aware that bitcoin is basically a highly volatile asset.” “(Fed) continues to print money, and here is the Corona 19 pandemic, Some factors, such as the recession, are an advantage for Bitcoin.”

Chad Steinglass, a senior investor at CrossTower, a digital asset company, also agreed with the prospect that cryptocurrency prices will fluctuate for the time being.

“In the short term, the downtrend will continue, but soon it will turn to an uptrend.”

Average daily Ether trading volume, more than 10 times higher than last year

Ether (ETH), the second largest cryptocurrency market capitalization, traded for $1210 at 6:00 this morning. This is an increase of 8.5% in 24 hours.

The average daily Ether trading volume of the eight major exchanges selected by CoinDesk 20 last year was $231 million. However, this year, it has averaged $2.7 billion a day so far.

Brian Mossov, CEO of Ether Capital, said, “The expansion of the DeFi market has become a catalyst for the increase in Ether trading volume.”

“Last year, it ended with a bull market. However, the average price of Ether in the first half of last year was only $200, and the market itself was in a state of loss due to the continued bearish market and the Corona 19 pandemic.

But this year is different. The Ether market started bullish from the beginning of the year, and Ether futures will also be launched on the Chicago Commercial Exchange (CME) next month. Also, institutional investors are starting to see the value of Ethereum.”

Other market trends

The price of major cryptocurrencies included in CoinDesk 20 appeared in the form of a mixture of rising and falling.

Major asset rises

• Bitcoin Cash (BCH) 8% increase
• Chainlink (LINK) rose 7.6%
• Litecoin (LTC) increased by 5.4%

Major assets declined

• 3.3% decline in XRP (Ripple)
• ZeroX (ZRX) fell 3.2%
• Stellar (XLM) fell 0.60%

Stock market

• Japan’s Nikkei 225 Index rose 0.85%-As orders for various machinery are higher than expected, it serves as a signal for economic recovery.
• UK FTSE100 Index Up 0.84%-Corona 19 Vaccine Distribution Increases Expectations for Ending Pandemic
• U.S. S&P500 Index Falls 0.38%-The trend is to watch President-elect Joe Biden’s stimulus package

Commodity market

• West Texas heavy oil rose 1.4% to $53.59 per barrel
• Gold price increases 0.12% to $1847 per ounce

Government bonds

• The 10-year Treasury bond yield rose 3.6% to 1.126%

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