{"id":16452,"date":"2020-07-09T10:30:22","date_gmt":"2020-07-09T08:30:22","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=16452\/"},"modified":"2020-07-09T10:35:04","modified_gmt":"2020-07-09T08:35:04","slug":"why-are-investors-buying-up-bitcoin","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/why-are-investors-buying-up-bitcoin\/","title":{"rendered":"Why are investors buying up bitcoin?"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 \u00a01812,315
\n(+0,20%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1339
\n( +0,07%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 25953,50
\n(-0,06%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 40,715
\n(-0,35%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a012668,50
\n(+0,59%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

The situation in the cryptomarket resembles an early thaw, when everyone wakes up and takes action. Will the market of cryptos be able to strengthen its position or is it just an illusion?<\/p>\n


\nGold<\/strong><\/p>\n

\"Gold\"<\/p>\n

On Wednesday, gold once again moved multi-year highs up to $1817. Now the bulls are going to have to work very hard to try and reach the historic 2011 high of $1921 per ounce.
\nWhat can you say about the current gold market. The precious metal received very good support from low interest rates, as well as large injections of fresh liquidity from major central banks.
\nIn the current situation the gold is ready to continue moving up to the first buy range of $1820 – $1825, but it is likely to happen with some pullbacks down.<\/p>\n


\nBitcoin
\n<\/strong><\/p>\n

Although Bitcoin does not show much volatility, you can see how the whole Blockchain industry and the ecosystem associated with it come alive. This gives reason to think that in the near future the demand for the first cryptocurrency will grow and the price will go up to $10000 per 1BTC.
\nThe sharp price hikes explain that large investors with impressive amounts of money are entering the market. The optimism about the global economy growth also increases the desire to buy one of the most risky assets – Bitcoin. On Wednesday, Bitcoin made a breakthrough and rose in price by almost 2% to $9480.<\/p>\n


\nIndices
\n<\/strong><\/p>\n

The impression was that most investors in the stock markets began to live for one day, from news to news. How long can the market hold out in this state? It is difficult to answer this question. On Wednesday, White House Economic Advisor Larry Kudlow said the government has no plans to re-close businesses to fight the coronavirus. Encouraged investors reacted swiftly to this announcement with growth in major indices. However, the endless rise in gold prices gives a reason to think about the real state of the world economy. On Wednesday, the S&P 500 index was traded at the opening level – 3150.
\nDAX index on Wednesday fell by 0.97% mainly due to losses in construction and food industries. Important macroeconomic statistics were not released during the trading session, so investors relied on news and statistics on COVID-19 infection.<\/p>\n


\nEuro
\n<\/strong><\/p>\n

EUR\/USD pair is trying to get out of the narrow range and with each trading session it is approaching the level of 1.1350. Due to the weakness of the US dollar, the next probable target is the area 1.1420.<\/p>\n


\nWhat’s waiting for us today?<\/strong><\/p>\n

03.30 Consumer price index in China since the beginning of the year
\n08.00 Trade balance in Germany for May
\n14.30 Number of initial applications for unemployment benefits in the United States<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

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":"

Gold\u00a0 \u00a01812,315 (+0,20%) EURUSD\u00a0 \u00a01,1339 ( +0,07%) DJIA\u00a0 25953,50 (-0,06%) OIL.WTI\u00a0 40,715 (-0,35%) DAX\u00a0 \u00a012668,50 (+0,59%)   The situation in the cryptomarket resembles an early thaw, when everyone wakes up…<\/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-16452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nWhy are investors buying up bitcoin? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"The situation in the cryptomarket resembles an early thaw, when everyone wakes up and takes action. 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