There are also "Christmas quotes" for cryptocurrencies? Bitcoin returns to above $50,000

Time:2021-12-23 Source: 1205 views Trending Copy share

As positive investor optimism continued to spread before the holiday, Bitcoin climbed above $50,000 for the first time in nearly two weeks.

Bitcoin rose 3.5% to $50,781 in trading on Thursday, and then gave up slightly. Including

Cryptocurrencies including Ethereum and Solana also rose.

After hitting a record high of nearly $69,000 in early November, Bitcoin, the world's largest cryptocurrency by market capitalization, has fallen by about 30% in the past five weeks. The news that global central banks are considering tightening monetary policy in the past few weeks has suppressed risk appetite, leading some investors to question whether so-called risky assets such as cryptocurrencies and highly valued software stocks will undergo more substantial adjustments after the overall rebound.

On Thursday, these worries appeared to have cooled, as stocks in most US sectors showed gains.

Baird’s investment strategy analyst Ross Mayfield, “I think Bitcoin is a high-risk asset. When risk appetite rises, it will rise sharply. When risk appetite falls, the decline may be very large.” “This is not entirely Related, this must be an oversimplified interpretation, but it is certainly not a volatility hedge."

Technical analysis shows that Bitcoin has established a double bottom around US$46,800 and faces a technical resistance level of approximately US$50635.

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