What is shaping up in markets, is a risk-asset bid, with the beginnings of inflation. Global financial markets are hinting that some know the near-term future while others don’t – a huge fiscal expenditure in the United States is one way to explain some of these moves.
We are still surprised that Bitcoin hasn’t made a move in this environment as a prime asset. Other digital assets have – these projects are relatively cheap compared to the set of investments.
Exciting times for digital assets. As the Japanese would say to describe the world laid out to us today: danger/opportunity.
In Bitcoin we want to see short positions over-commit, trade a little too aggressively and misjudge volatility and liquidity before getting purged out of the high. But it all remains pure fantasy at this stage.
A tweet I saw yesterday said it best.
Do you think Bitcoin will finish the year at
Bitcoin last traded at $9,204
24 hr high: $ 9,278
24 hr low: $ 9,152
Bitcoin USD Chart
The market is trading into the pocket here, with some potential for a move as space runs out.
Eth still looks like the stronger potential of the 2 main tokens. We might see Ethereum take off last, before the main event.
Ethereum last traded at $ 238.
24 hr high: $ 241
24 hr low: $ 236
Ethereum USD Chart
Chainlink has continued its run, trading past its swing-high at $8.50 overnight. Aave, Reserve Rights and Synthetix have also been strong while Ren dipped overnight.
Something to keep in mind, is that these projects are being considered for what they can deliver, and what the market has appetite for, as opposed to the 2017/2018 bubble.
- Aave: $ 0.254
- Algorand: $ 0.287
- Cardano: $ 0.13
- Chainlink: $ 8.62
- Compound: $ 161.96
- Maker: $ 456.66
- Ren: $ 0.172
- Reserve Rights: $ 0.00903
- Stellar: $ 0.0939
- Synthetix: $ 3.10
- Tezos: $ 3.09