Bit-comment: Christmas gift for ‘hodlers’
December 23, 2019 @ 16:20 +03:00
Bitcoin decided to delight his holders with growth in the run up to Christmas. On the evening of December 22, the first cryptocurrency switched to growth mode, which continues at the beginning of the new week. During the last 24 hours, BTC has been growing by more than 5% and is trading around $7,600.
Note that the price growth has coupled with almost 37% jump in trading volumes. As usual, Bitcoin was followed by nearly all altcoins, but at the moment on a more modest scale. The Bitcoin Greed and Fear Index has also moved up, currently at “Fear” (33), indicating a “warming” of investor sentiment and a shift to the asset accumulation phase.
On the other hand, the higher this value, the closer may be the moment when the sale begins. Among the reasons for the growth may still be the institutional demand due to the growth of Bakkt volumes, as well as the launch of ErisX exchange, which will trade delivery bitcoin futures.
Like many times before, in moments of growth, there is a decline in the Tether stablecoin (USDT). Conversely, at the moments of sale-off, investors prefer to go into this stable cryptocurrency to weather the storm.
The FxPro Analyst Team