An epic battle between good and evil

Morning Stock News

Gold  1791,685
(-0,15%)

EURUSD   1,2091
(-0,09%)

DJIA  31462
(+0,03%)

OIL.WTI  60,155
(-0,01%)

DAX   14043
(+0,01%)

It is what unfolded on Monday in the battle for the $50,000 per BTC level. There were two armies on the battlefield. One represented the future (bitcoin buyers). The second represented the past (sellers). In the first team there is a progressive part of society. The second represents the conservative establishment that runs the world today.


BTC

BTC

The short-term outcome of the battle was a draw. The bulls broke through the level of $50,000 per 1 BTC, but could not immediately build on their success, taking the next marks of $51,000 and $52,000.
And the medium-term outcome is a complete defeat of the forces of evil. After the breakthrough of the most important round level, a direct road to $100,000 per 1 BTC opens. It is the one that major players and analysts will now focus on.
Since last summer, we have explained in detail no less than 15 times why bitcoin is fundamentally undervalued. And why it will rise strongly sooner or later. The key here is “sooner or later”. As you know, it is impossible to foresee the timing of the start of a move in advance. The time has come and the movement started. During this time, the price went up 6 times from the levels of 8-9k for 1BTC.
Now analysts will unanimously start predicting again a value of $100,000, $200,000, $300,000 per BTC at the end of 2021. If that happens, great.
However, we continue to stick to our conservative forecast we made earlier this year. We believe bitcoin will grow 2-3 times in 2020. That means we expect its year-end price to be 58-87k per 1 BTC.
When the volleys of the guns subside, let’s break down in detail what changes for bitcoin after it breaks through the $50,000 level. Don’t forget to follow our newsletter.

08.00 UK consumer price index for January
14.30 Canadian January Consumer Price Index
14.30 US Retail Sales in January
20.00 US Federal Open Market Committee Meeting Minutes


Important Notes on This Publication:

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.