Up and down
The No.1 crypto currency experiences a turbulent start to the week. After a rebound at the 15600 USD trendline, the market leader is heading south at a rapid pace. While the traditional markets are reacting positively all around to the promising data on the corona vaccine from Pfizer and Biontech, the volatility in the crypto market is showing its bad side. Now it comes to another showdown at the USD 15000 mark. We take a look at what is happening in the Blockchain cosmos.
Bitcoin fights for important support
BTC traders experience a real rollercoaster ride on Monday. After an ambitious pump the bulls fail in the morning at the trend line at 15600 USD. As a result, the bears maneuver the “digital gold” down by more than 600 USD in a rush. At the time of this article, the Bitcoin is at a rate of 14952 USD, which corresponds to a daily loss of – 2.81%. Although a trading volume of about 32 billion USD stands for the enormous interest of investors, things go downhill on Monday.
These are the limits that matter now
After falling below the 15000 USD mark, the cops are hoping for the support area at 14800 USD to launch a new attack. The trend line at 15000 USD has been crossed several times in the past days without any problems. It seems that the strong resistances will only start at USD 15600, USD 15800 and USD 16000. Should the volatility play into the cards for Bitcoin, a breakthrough towards an all-time high could even be conceivable afterwards.
Wall Street with an excellent start to the week
Wall Street is reacting with a strong upward trend to the news surrounding the corona vaccine from Biontech and Pfizer. The Dow Jones is rushing towards the 30,000-point mark, while the S&P 500 is gaining + 3.29%. Previously, the DAX had broken through the 13000 point mark with a gain of 4.94 %. After the PayPal rally, the “digital gold” had isolated itself from the traditional markets, but the positive news could still play into the hands of Bitcoin. Biontech and Pfizer had previously commented on the study results as follows:
“Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine’s ability to prevent COVID-19. We are reaching this critical milestone in our vaccine development program at a time when the world needs it most with infection rates setting new records, hospitals nearing over-capacity and economies struggling to reopen. With today’s news, we are a significant step closer to providing people around the world with a much-needed breakthrough to help bring an end to this global health crisis. We look forward to sharing additional efficacy and safety data generated from thousands of participants in the coming weeks.“
(Dr. Albert Bourla, Pfizer CEO and Chairman)
What do the Altcoins do?
The alternative assets follow the Bitcoin on Monday with a lower latency. Currently the BTC Dominance Index is 64.2%.
Important price information:
- Ethereum 444.33 USD (- 2.83 %)
- Ripple 0.25 USD (- 2.45 %)
- Litecoin 59.19 USD (- 3.87 %)
- LINK 12.58 USD (- 2.05 %)
- Polkadot 4,40 (- 0,06 %)