{"id":17262,"date":"2020-12-24T09:05:25","date_gmt":"2020-12-24T08:05:25","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17262\/"},"modified":"2020-12-24T09:05:25","modified_gmt":"2020-12-24T08:05:25","slug":"bitcoin-fears-nothing","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/bitcoin-fears-nothing\/","title":{"rendered":"Bitcoin fears nothing"},"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 1876,815<br \/>\n(<span style=\"color: #008000;\">+3,64%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,221<br \/>\n(<span style=\"color: #008000;\">+2,83%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 30115,50<br \/>\n(<span style=\"color: #008000;\">+0,89%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 48,19<br \/>\n(<span style=\"color: #008000;\">+10,86%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a013596,065<br \/>\n(<span style=\"color: #008000;\">+2,64%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">On Wednesday, terrible news came out for the crypto industry. The US Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple. The agency alleges that the California-based blockchain company sold unregistered securities in the form of XRP tokens to retail investors for seven years. And generated $1.3 billion in revenue.<\/p>\n<p style=\"text-align: center;\"><strong>BTC <\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-17263 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2020\/12\/BTC.jpg\" alt=\"BTC\" width=\"600\" height=\"241\" \/><\/p>\n<p align=\"justify\">For those who only follow BTC, a little clarification. Ripple is the 4th most capitalised cryptocurrency. The company that issued it is based in the US and works closely with US banks. It is a shareholder in the world&#8217;s second largest money transfer system, MoneyGram.<br \/>\nOne could argue that 99% of cryptocurrencies are even more vulnerable to potential SEC claims. So this is indeed a black day for the cryptocurrency market. Ripple tokens are down 35% in the moment.<br \/>\nAgainst this backdrop, bitcoin, by mid-day, had fallen from $24,000 to $22,900. There was panic in the market and a massive sell-off of any altcoins. But, suddenly, bitcoin surged upwards like a phoenix bird, briefly surpassing the $24,000 level again.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat does that tell us?<\/strong><\/p>\n<p align=\"justify\">The first cryptocurrency is in the strongest bullish trend. Any pullbacks, even on the worst news, are used by investors to ramp up purchases. Speculators follow the usual pattern: they sell on a fall, but they cannot buy back the asset (cheaper) any further, the price is constantly rising. Thus, more and more &#8220;smart money&#8221; is pouring into the market, standing on the trend. The situation resembles what we saw in late spring and summer on the US stock market. Any pullbacks were immediately redeemed.<br \/>\nTherefore, in the last days before New Year and the first days of the new year, we could see very strong moves in the low liquid market. There is a high probability of not only touching the $25,000 level, but also significantly exceeding it.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat awaits us today?<\/strong><\/p>\n<p align=\"justify\">01.00 Address by Bank of Japan Governor Kuroda<\/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 1876,815 (+3,64%) EURUSD\u00a0 \u00a01,221 (+2,83%) DJIA\u00a0 30115,50 (+0,89%) OIL.WTI\u00a0 48,19 (+10,86%) DAX\u00a0 \u00a013596,065 (+2,64%) On Wednesday, terrible news came out for the crypto industry. The US Securities and Exchange&#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-17262","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>Bitcoin fears nothing | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"On Wednesday, terrible news came out for the crypto industry. 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