{"id":13617,"date":"2019-11-25T07:06:02","date_gmt":"2019-11-25T06:06:02","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=13617\/"},"modified":"2019-11-25T07:06:02","modified_gmt":"2019-11-25T06:06:02","slug":"a-dramatic-slump-the-crypto-market-bitcoin-is-in-free-fall","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/a-dramatic-slump-the-crypto-market-bitcoin-is-in-free-fall\/","title":{"rendered":"A dramatic slump the crypto market \u2014 Bitcoin is in free fall"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 \u00a01460,17<br \/>\n(<span style=\"color: #ff0000;\">-0,13%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1027<br \/>\n(<span style=\"color: #008000;\">+0,11%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 \u00a027939,5<br \/>\n(<span style=\"color: #008000;\">+0,33%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 57,90<br \/>\n(<span style=\"color: #ff0000;\">-0,16%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a013189,88<br \/>\n(<span style=\"color: #008000;\">+ 0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">This is going to be a short trading week in the US, and investors will continue watching the news of the US-China tariff negotiations and the latest economic data. Many retail chains in the States aren&#8217;t doing so well, despite the Black Friday and the start of the Christmas sales. The last week of November will be distinguished by many economic reports.<\/p>\n<p style=\"text-align: center;\"><strong>Bitcoin day chart<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-13618 aligncenter\" src=\"\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2019\/11\/morning-news-25.11.2019.png\" alt=\"\" width=\"600\" height=\"267\" \/><\/p>\n<p align=\"justify\">On Friday, Bitcoin fell below the MA 200 line and was trading close to $7300. The test of this support level opens the way towards a further fall to $5000, disappointing crypto enthusiasts. Chinese authorities are putting pressure on crypto owners once again, while miners start to sell off their hardware due the absence of profits. Former market patterns don&#8217;t work anymore, and it&#8217;s impossible to say if growth will resume in the nearest future.<\/p>\n<p style=\"text-align: center;\"><strong>EUR\/USD<\/strong><\/p>\n<p align=\"justify\">After Christine Lagarde&#8217;s first speech as the new head of ECB, euro fell to 1.1018. Christine decided to support Mario Draghi, sticking to his relaxed monetary policy. ECB is likely to keep pouring money into the industry, which will affect the price of the euro.<\/p>\n<p style=\"text-align: center;\"><strong>GOLD<\/strong><\/p>\n<p align=\"justify\">The price of gold has consolidated between $1460 and $1479 per ounce. Unless important news on the trading talks appear, investors will remain on standby. The negotiations are fraught with difficulties, however. If there is any chance for a positive outcome, gold is likely stay where it is now.<\/p>\n<p style=\"text-align: center;\"><strong>INDICES<\/strong><\/p>\n<p align=\"justify\">The indices have calmed down a bit by the end of the week. There wasn&#8217;t much in terms of important news, so investors prefer to wait. A 2% annual growth in the economy can&#8217;t explain such abnormally stock prices. In the future the market will probably react more strongly to all news and return to more reasonable price levels.<\/p>\n<p style=\"text-align: center;\"><strong>What&#8217;s next?<\/strong><\/p>\n<p align=\"justify\">11.00 Germany: Ifo business climate index<br \/>\n15.30 Canada: wholesale trade data<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>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.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold\u00a0 \u00a01460,17 (-0,13%) EURUSD\u00a0 \u00a01,1027 (+0,11%) DJIA\u00a0 \u00a027939,5 (+0,33%) OIL.WTI\u00a0 57,90 (-0,16%) DAX\u00a0 \u00a013189,88 (+ 0,01%) This is going to be a short trading week in the US, and investors&#8230;<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-13617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A dramatic slump the crypto market \u2014 Bitcoin is in free fall | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"This is going to 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