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market status; Ethereum price reaches $ 4 at the same time as bitcoin price exceeds $ 50,000

At the same time as the price of Bitcoin crossed the $ 50,000 mark, the price of Ethereum also crossed the $ 4,000 barrier with a significant jump.

to the Report Bitcoin Desk, the price of Bitcoin is currently trading above $ 50,000 and has fluctuated about 2% over the past 24 hours. The jump in the digital currency market was accompanied by an increase in stock market indices, which indicates that investors are more willing to accept risk.

market status;  Ethereum price reaches $ 4 at the same time as bitcoin price exceeds $ 50,000

Ethereum, the market’s second-largest digital currency, reached $ 4,000 for the first time since May yesterday. Ethereum has outperformed Bitcoin by 20% over the past week.

Martha Reyes-Hulme, director of research at Bequant Digital Asset Brokerage, wrote in a statement:

Bitcoin also wants to celebrate the rest [دارایی‌ها] Join. Bitcoin dominance in the market is decreasing by 40%, and we may see this dominance gradually decrease due to the distance of investors from the market of this digital currency and moving to other market segments. Investors are looking for applications rather than focusing on value storage [در پروژه‌ها] they are going.

Bitcoin dominance is currently less than 40% and in the range of 39.88%.

Ulrik Lykke, a senior executive at ARK36, said in a recent interview:

If Bitcoin fails to break the $ 50,000 resistance barrier, the price may fall below the $ 40,000 mark, which could indicate a dead cat jump in the market.

Over the past 24 hours, the prices of Bitcoin and Ethereum have risen by 2% and 4%, respectively. The S & P500 index left unchanged yesterday. Gold jumped 1.1 percent to $ 1,830. The interest rate on treasury bonds also closed in the range of 1.324.

Continuation of the upward trend

The price of bitcoin has grown by 70% since the beginning of this year. On the other hand, the S & P500 index also experienced a 20% growth. Bonds and gold have grown negatively so far in 2021, and this can be attributed to the appetite of investors to invest in high-risk assets created after the outbreak of the Corona virus.

Both securities and digital currencies have experienced relatively little fluctuations in recent months. Investors’ expectations for the continuation of quantitative easing policies are one of the reasons for these low fluctuations.

The United States said on Friday that 235,000 new jobs had been created, far short of the projected 725,000. The report on US new jobs has raised expectations for the continuation of facilitation policies, and the Federal Reserve seems to continue to provide the facility. Shortly after the report was released, bitcoin and stock markets jumped.

market status;  Ethereum price reaches $ 4 at the same time as bitcoin price exceeds $ 50,000

Premium Ethereum Option Contracts

The realized fluctuations of the ether are increasing again after August, when it was in the stabilization phase. At the same time, the cost of buying ether short-term options is rising, and this may lead to an excessive increase in the price of this digital currency.

Eligibility positions were high on Wednesday. That was when the price of Ethereum jumped out of range and broke $ 34,000. Ethereum market technical data show that the current rally is in a state of saturation; However less than in August.

market status;  Ethereum price reaches $ 4 at the same time as bitcoin price exceeds $ 50,000

As can be seen in the chart below, the difference in implicit fluctuations between buying and selling options has changed and now the scales are moving heavily towards selling options.

QCP Capital writes about this:

With the speed of this upward movement, a drastic change in the average will not be unexpected.

market status;  Ethereum price reaches $ 4 at the same time as bitcoin price exceeds $ 50,000

Solana good performance

The Solana Token was able to break its historic high of around $ 145 again on Friday. With this range broken, Solana replaced Dogecoin and is now the number seven digital currency on the market.

Solana is currently worth about $ 42 billion. The Dogecoin is worth $ 38 billion.

The price of Solana has tripled since the launch of the Degenerate Ape Academy. Omkar Godbole, a digital currency activist, noted the thirst for unparalleled tokens and said the project launch schedule could not be better.

Market situation of Altcoins

Sotheby’s is set to host BAYC’s unique tokens auction. These iconic tokens are small images of monkeys that are expected to sell for between $ 13.5 million and $ 20 million over the next week from Friday to Thursday. Michael Bouhanna, a contemporary art expert and one of Sotheby’s senior art directors, said in a statement:

The BAYC project is one of the most exciting and creative unique tokens initiatives since the release of Cryptopunx.

The BAYC project was developed last spring by Yuga Labs. Steph Curry, one of the stars of the League of Prophets, is also one of the buyers of these unique tokens.

The African Financial Supervisory Authority recently warned Bainance users in a statement. In its statement, the authority advised its citizens to be “cautious” in their activities in Bainance Exchange and to consider “caution” aspects. The agency went on to say that Bainance does not have a license to operate and provide services such as digital currency consulting in the country, and that citizens will not be held accountable if they lose their assets.

The Dallas Mavericks Basketball Club said in a statement that the club’s fans can receive $ 25 gift cards by purchasing through Dogecoin. The basketball club, which accepts payments from Dogecoin, has stated that it will continue the program until the end of September.

Over the past 23 hours, LightCon grew 15 percent to $ 214 and became one of the market winners. Bitcoin Cash also grew 8.5 percent during the same period, reaching $ 719.

The 3% decrease in the price of ion swaps also caused this digital currency to end yesterday with a red candle.


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