Vorreiter: Ich mag kein 34.000-Dollar-Bitcoin? Stellar, Litecoin noch nicht, um alte Höhen zu erobern

Bitcoin snapped a four-day losing streak, appearing to stabilize around $34,000. After the recent market correction, prices for the cryptocurrency are still up 18% der bisherige Jahresverlauf, versus a 1.2% gain for the Standard & Arme 500 Index of large U.S. Bestände.

“Now is probably not the time to panic,” Matt Blom, head of sales and trading at the cryptocurrency exchange firm Diginex, wrote in a daily newsletter.

In traditionellen Märkten, European shares fluctuated and U.S. stock futures were little changed as the U.S. House of Representatives on Wednesday prepared to vote on a second impeachment of President Donald Trump. Gold strengthened 0.1% zu $1,855 eine Unze.

Markt bewegt sich

As bitcoin and ether retreat from recent highs, the strong performance of other cryptocurrencies shows that traders and investors may now be turning to alternative tokens, often referred to as “altcoins,” for returns.

Bitcoin prices as of Jan. 11 stood at about 87% of their all-time high reached last week, and ether is about 78% of the way toward its all-time high from a few years ago, based on data compiled by CoinDesk Research.

But other cryptocurrencies and digital assets, such as stellar (XLM) und litecoin (LTC), are still far from setting new records. One takeaway might be that they might have further to run, CoinDesk’s Muyao Shen reported Tuesday.

Altcoins are surging “in ways that we have not really seen since 2017,” Andrew Tu, an executive at quant firm Efficient Frontier, told Shen.

Table showing major altcoins, and prices as a percentage of their all-time highs.
Quelle: Nomics, Shuai Hao / CoinDesk Research

It’s possible, Na sicher, that some entry-level investors viewing bitcoin’s $34,000-ish price – what a small sport-utility vehicle costs – are unaware that the largest cryptocurrency can be bought in minute fractions, similar to the way that it’s possible to buy $100 oder $1,000 aus Gold.

Such confusion in the past has led some newbie investors to turn to altcoins, because their prices are often comparatively lower, sometimes counted in cents.

David Derhy, an analyst at the trading platform eToro, wrote earlier this week that some traders might shift toward ether, the base cryptocurrency for the Ethereum blockchain.

“Investors in bitcoin may be looking to take some profits and reallocate, and ether could be a target," er schrieb. “A target of $2,500 is reasonable given the gains we have already seen and current price momentum.” Such a level would represent a gain of nearly 150% from the current price.

Simplex, a digital-asset platform, has been seeing “increasing demand for cryptos across the board,” though “retail investors seem to be looking for the next BTC,” CEO Nimrod Lehavi, wrote in a Google doc, sent by a spokesman via Zoom’s chat function.

“We are used to seeing BTC dominate around 90% of the total volumes of trade,” says Jonathan Leong, CEO of BTSE, another crypto platform. “But the recent week or so has seen a rise in our institutional clientele’s demand and interest in altcoins, with the balance being almost 50/50 at certain times.”

Bitpanda, an Austrian cryptocurrency platform, has seen bitcoin drop to between 30% und 40% of customer purchases this year, von 40% zu 50% last year, according to a spokeswoman.

“We have a big influx of users, and they are trading both bitcoin and altcoins,” the spokeswoman, Sara Moric, said in an email.

– Muyao Shen and Bradley Keoun

Weiterlesen: Mehrere Token Siehe Rallye inmitten der bevorstehenden "Alt-Saison"

Bitcoin Watch

Chart shows declining bitcoin outflows from Coinbase Pro, seen as a proxy for institutional demand.
Quelle: CryptoQuant

Die kurzfristigen Aussichten für Bitcoin haben sich verschlechtert, Analysten sagen, Einige sehen jetzt eine mögliche Verlängerung des großen Preisverfalls am Montag.

“There could be another dump as outflows from the cryptocurrency exchange Coinbase Pro have dried up alongside an increased transfer of coins onto exchanges,David Lifchitz, Chief Investment Officer des in Paris ansässigen quantitativen Handelsunternehmens ExoAlpha, sagte CoinDesk.

Outflows from Coinbase Pro – considered a proxy for purchases of the cryptocurrency by big institutional investors, since the outflows are typically seen as transfers into cold storage for long-term holding – have receded sharply from the three-year high of 55,000 BTC observed Jan. 2.

The decrease could signal a weakening in institutional demand, which played a pivotal role in pushing bitcoin last week to a new all-time high above $41,000, Ab ca $10,000 just a few months ago.

inzwischen, exchange deposits have gathered pace, ein Zeichen dafür, dass einige Anleger möglicherweise versuchen, Beteiligungen zu liquidieren und Gewinne mitzunehmen.

Die Anzahl der an Börsen gehaltenen Münzen stieg um mehr als 57,000 BTC am Dienstag, the biggest single-day change since March 2020, nach Angaben des Blockchain-Analyseunternehmens Chainalysis. Die Börsen verzeichneten einen durchschnittlichen Zufluss von 103,000 BTC pro Tag in den letzten sieben Tagen - höher als der 180-Tage-Durchschnitt von 83,700 BTC.

Some analysts looking for clues in price-chart patterns are also calling for an extension of Monday’s drop. Die Ichimoku-Wolke, a technical-analysis tool created by Japanese journalist Goichi Hosoda in the late 1960s, includes multiple lines that help identify support and resistance levels and other essential information such as trend direction and momentum.“

“I still see pressure on the downside in the short-term,” said Patrick Heusser, Handelsleiter bei der Schweizer Crypto Finance AG, das hinzufügen $29,000 could be the make-or-break level. “Things could get ugly if that support is breached,Sagte Heusser. A price of $36,000 ist das Level, das die Bullen schlagen müssen.

Chris Thomas, Leiter Digital Assets bei der Swissquote Bank, sees a period of price consolidation over the rest of this week, in the $33,000–$36,000 range.

- Omkar Godbole

Weiterlesen: Analysten sind derzeit über den kurzfristigen Preisausblick von Bitcoin düster

Was ist heiß?

European Central Bank’s Lagarde calls bitcoin “speculative asset,” hopes for digital euro in no more than five years (CoinDesk)

„Könnte der OCC Open-Source-Software, die die Einzahlung verwaltet, sogar eine nationale Bankcharta gewähren?, Kreditvergabe, oder Zahlungen, wenn es keine leitenden Angestellten oder Direktoren gibt?” writes Acting U.S. Comptroller of the Currency Brian Brooks, in an op-ed. “Not yet. Nach geltendem Recht, erstellt auf den Annahmen des frühen 20. Jahrhunderts, charters can only be issued to human beings” (Financial Times)

When Goldman Sachs’s head of commodities research tries to value cryptocurrencies, he starts by imagining the sector doubling to $2T (CoinDesk)

Bitcoin options volume on Deribit already 25% von 2020 total (CoinDesk)

Bitcoin whales kept accumulating during Monday’s crash (CoinDesk)

Coinbase apologizes for “recent customer experience issues” in UK and EU (Coinbase)

Tron is out, Dai is back, in latest changes for CoinDesk 20 (CoinDesk Research)

“For all the billions we have in defi right now, if you strip away the subsidies (paying for users), this number will collapse,” YearnFinance creator Andre Cronje writes in Medium post (Medium)

CEX, lies and videotape: Binance accuses rivals of fighting dirty (CoinDesk)

Winklevoss twins’ Gemini cryptocurrency exchange sees big jump over past year in bitcoin balances (Münzmetriken):

Bitcoin balances have increased on the Gemini cryptocurrency exchange.
Quelle: Münzmetriken

Analoga

Das Neueste über Wirtschaft und traditionelle Finanzen

Switzerland’s UBS to charge clients negative 0.75% interest rates on cash balances greater than 250K Swiss francs ($280K.) (Reuters)

Former U.S. CFTC Chair Gary Gensler said to be Biden’s pick for SEC chair (CoinDesk)

Brian Brooks, acting U.S. Comptroller of the Currency and former Coinbase general counsel, plans to step down in the next few days, Politico reports (CoinDesk). (SEE ALSO: Brooks op-ed featured above, in What’s Hot.)

Zombie firms, or inefficient companies kept alive by cheap debt, could swell due to generous government lockdown-support programs, representing big risk for banks (WSJ)

World Bank Chief Economist Carmen Reinhart warns that household and business balance sheets might be overwhelmed by pandemic-related debt, potentially leading to a financial crisis (Bloomberg)

Remote-working revolution to fundamentally alter the way managers operate (Reuters)

Traders now watching bitcoin for clues about stock market’s direction (CNBC)

Federal Reserve Bank of Dallas’s Robert Kaplan hopes economy will be ready for conversation about tapering Fed’s $120 billion-a-month of asset purchases later this year (Bloomberg)

ICYMI: “Central banks show no inclination of moderating their huge stimulus,” Allianz’s Mohamed El-Erian writes in op-ed (Bloomberg Stellungnahme)

Die USA. Federal Reserve is focusing on the positive medium-term prospects for jobs based on the success of a coronavirus vaccine (Reuters)

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