Although in January Bitcoin has shown a bearish trend falling from $39,780 on the 14th down to $30,638 on 27th, we all felt it coming! 🌪 Let’s track back a little bit and reflect on the heating atmosphere of January 2021 by flashing on our media coverage for this month.
📰 Here are the hottest topics that CEX.IO expects commented and shared their opinions last month:
- Crypto insights & trends
- Bitcoin rally
- Market analytics
So buckle up, here we go!
Crypto trends 😎
👉 Though 2020 started challenging for all the world, it has been prominent for the crypto industry. Will the established trend continue? Is crypto going to secure its state in the financial system and what can be the milestones?
Konstantin Anissimov, Executive Director shared his thoughts about the future of the cryptocurrency industry heading into 2021.
👉 Crypto exchange Coinbase suffered several outages amid Bitcoin’s ongoing price rally. The increase in user traffic and trading activity results in a massive extra load on servers. Trading platforms are having a hard time preparing for such spikes due to Bitcoin’s unpredictability. Dmytro Volkov, Chief Technical Officer at CEX.IO shared his expert opinion on the matter.
👉 Although institutional interest has undeniably been focused on Bitcoin, Ethereum’s lower cost of entry and unstoppable momentum, have allowed the altcoin to outperform the top crypto asset by market cap recently.
A near flawless technical pattern yet to break out coinciding with a trend strength measuring tool approaching pivotal levels, suggests Ethereum’s dominance over BTC not only will continue for the time being, but the intensity will soon increase substantially. What are the reasons for that? Read in the comment by Dmytro Volkov.
👉 A ban on the sale of digital currency derivatives to retail investors in the U.K. has officially gone into effect. The ban was proposed by the Financial Conduct Authority (FCA) in October and became law on January 6. The FCA said that derivatives weren’t suitable for retail customers because of the harm they pose. These customers can’t be able to accurately value the derivatives because of prevalence of market manipulation, extreme volatility, inadequate understanding, and the inherent nature of digital assets, among other reasons, according to the regulator. The CEX.IO executive director Konstantin Anissimov shares his thoughts on how the ban may affect the customers. Digital currency derivatives ban now in effect in UK.
Bitcoin rally 🎢
👉 More established hedge fund firms are eyeing the launch of bitcoin-focused funds as institutional investors inch towards the crypto space in search of returns and an alternative store of value to gold, according to industry players. We at CEX.IO are currently working on a suite of products for big market players. Konstantin Anissimov unveils some plans on the upcoming advancements designed to cater to the needs of institutional investors.
👉 This past year has been a huge test for financial platforms. The first two quarters crashed the markets, as “coronavirus” and “lockdown” became the defining terms around the world. The reaction of financial assets was entirely predictable: oil plummeted to historic lows, including going negative on some exchanges, the dollar strengthened significantly relative to every other currency, and by the close of the first quarter some analysts were already predicting Bitcoin’s downfall. Nevertheless, trends toward stabilization and recovery were apparent even in the second quarter. The 2020 crypto market proved to be a wonder of rapid recovery and reattainment of historic highs. Read more in the article by Konstantin Anissimov, Executive Director of CEX.IO.
👉 As a result of the ongoing uptrend, many prominent institutions from the realm of traditional finance have sought to join the crypto bandwagon so as to not miss out on the ongoing action. For starters, a jump in open interest and the trading volume for Bitcoin futures has been witnessed across the board over the course of the last couple of months. While that may have been expected, what may come as a surprise is that the Chicago Mercantile Exchange, a global derivatives exchange, recently became the world’s largest Bitcoin futures trading platform. Is institutional interest increasing, or is stagnation setting in?
Market analytics 🤓
👉 Regardless of whether the markets are wildly swinging or suspiciously flat, keeping an eye on the analytics is always useful. Our experts have been commenting about the ongoing situation at various online resources so you might want to check that out as part of your research.
- Weekly recap: BTC hits another new record
- Bitcoin and Ethereum Correct But Bulls Remain In Driver’s Seat
- Bitcoin (BTC) price rejected after reaching an ATH at $34,600
- Monthly recap: Bitcoin and Ethereum post massive gains as trust erodes in the global financial system
- XRP/USD Price Analysis: December 2020, Prediction for 2021
- Bitcoin price today usd prediction latest live
- Ethereum and Litecoin Take the Lead Growing by 10%
- Bitcoin Rises to New All-Time Highs, Generating over 20% in Weekly Returns
- Beyond Bitcoin: Number two crypto Ethereum is climbing faster and gave rise to the ‘DeFi’ industry that’s netted some investors up to 11,000% in a year
- Why Bitcoin dropped to $30,000 and where it’s headed next
- SEVERE DOWNSIDE RISKS FOR BITCOIN ON BEARISH ‘DEATH CROSS’ APPEARANCE
- 26th January: BTC/USD Declines to Test 31,000 Support Level, ETH/USD Holding above 1,300
- Technical Analysis: New GBP/EUR Bullish Trend Forming, GBP/USD At Three-Year High
⚡️ We’re sure you are ready for the new crypto beginnings appearing on the horizon for this coming year. Stay with us on our Telegram channel https://t.me/CEX_IO and you won’t miss out on the major events and insightful analytics 👌.
And as usual, your ideas and suggestions for discussions are very welcome 😊!
See you next month!
Your CEX.IO Team