Back to Normal
Here’s a graph for you. It certainly impressed me when I saw it yesterday.
It shows how even though the price has declined since the beginning of the year, eToro clients have not only maintained their positions, but are actually increasing their bitcoin holdings.
The graph was inspired by a recent article in which our CEO and founder Yoni Assia stated that…
After I posted the graph on Twitter, one user was quick to point out that there are many more buyers now and so the increased amount of holdings actually shows that each individual investor is holding less.
While that may be true, it actually serves to strengthen the case that demand is holding strong. If more people want to hold bitcoin, that grows the network, even if they’re holding it with less allocation in their portfolio.
eToro, Senior Market Analyst
- Market Manipulation
- Dollar Pullback Relief
Please note: All data, figures & graphs are valid as of August 21st. All trading carries risk. Only risk capital you can afford to lose.
Whatever you feel about him, President Donald Trump’s garish rhetoric has been great for traders who like volatility. This latest headline is particularly punchy…
Just as China and the United States have started preparing for some fresh rounds of trade talks, President Trump, true to his style, has spiced things up by placing things off kilter in a way that now seems quite normal.
This comes after a report from Trump’s own administration published in April stopped short of making any such labels. In fact, the USA hasn’t officially labelled any country as a currency manipulator since 1994.
Looking back since the start of 2017, if either China or the EU have been trying to deliberately weaken their respective currencies, they haven’t been doing a very good job of it.
Zooming in a bit to the movements of the day…
The US Dollar is finally showing some signs of weakness, which is providing some much-needed relief for the rest of the markets. In fact, it seems like investors are even ready to take on a bit more risk today as the stocks climb and the precious metals have bounced off the lows.
On the left, we can see the US Dollar Index, which seems to have peaked last Wednesday. On the top right is the NASDAQ, which is toying with it’s all-time high and on the bottom right is gold’s retracement off the long-term lows.
Let’s leave this section deliberately blank for today. We’ve shown the chart about Bitcoin’s stable range too many times to count.
As mentioned, a steady price range is healthy for Bitcoin as it increases it’s use as a stable store of value and gives developers of the network more time to build the infrastructure that will be needed going forward.
Have an amazing day ahead!
This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.
The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.
Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose.
Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.
Senior Market Analyst
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