BTC/USD Reaches for Record High

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since the first of October, the price for Bitcoin has surged 87.02%, as it had been breaking one resistance level after another. Moreover, the surge was expected to continue due to a number of reasons that were discovered by Dukascopy Analytics.

First of all, recent crypto news indicate that large banks have been buying up and pushing up the price of BTC. For example, as reported by BTCNN, JPMorgan recently announced that the price for the crypto could increase tenfold. Such an announcement could be made due to the bank being interested and motivating the retail trader sector and investors into pushing the price up.

Secondly, research of Google search popularity shows that the search term "buy bitcoin" is at its low levels. The search for this term skyrocketed in 2017, when the prior high level of the coin's price was reached. It indicates that the retail sector has not started buying up the crypto.

In addition, general news outlets were not reporting on the surge, as it was going on, which signals that the general population has not been informed.

Last but not least, cryptocurrency exchanges have been reporting that the total available supply for trading BTC has been decreasing, a some buyers have started to use it as a value storage. Namely, the supply side of the price discovery equilibrium has decreased.

It can be deducted from these factors that the larger market participants have bought up the crypto as a safe haven asset. Meanwhile, the retail sector is still set to discover that the larger players have started to use it as a safe asset. The news of the surge becoming popular, could cause more buying.
Back to articles

Actual Topics

Mon, 23 Nov 2020 16:33:06 GMT

Gold loses 1.80% on new COVID-19 vaccine

Since Monday, November 23, gold depreciated against the US Dollar. The XAU/USD exchange rate has already lost 3.58%.

Tue, 17 Nov 2020 15:13:20 GMT

Tesla Jumps on Market Open

At the opening of the US markets on Tuesday, the stock price for Tesla started the day's trading 13.19% or 53.14 USD higher than the Monday's close. The reason for this was the announcement that the company's stock would be included into the S&P 500 market index in December. In general, the index captures the top 500 companies of the

Subscribe to "Fundamental Analysis" feed

Abonnieren
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere handelsbezogene Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Für weitere Informationen über eine mögliche Zusammenarbeit,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Dukascopy Bank Binären Optionen zu lernen /Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über die Forex/CFD Handelsplattform von Dukascopy Bank SA, sowie über den SWFX und weitere Handelsbezogenen Informationen zu erfahren,
rufen Sie uns bitte an oder hinterlassen Sie eine Rückrufanfrage.
Um mehr über Krypto Handel/CFD/ Forex Handelsplattform, SWFX und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Um mehr über Business Introducer und andere Handelsbezogenen Informationen zu erfahren,
bitte rufen Sie uns an oder fordern Sie einen Rückruf an.
Für weitere Informationen über eine mögliche Zusammenarbeit,
rufen Sie uns bitte an oder bitten Sie um einen Rückruf.