March 29, 2024

Блог компании CEX. IO | Results of the month: bitcoin reached levels above $57,000, ethereum - $2,000

Alexander Yanyuk, CEX.IO Broker finance expert comments:

Brent crude oil started the month at $54.91per barrel. During February, North Sea oil prices rose by almost $10 to $64.43. The rise in the oil price was facilitated by news about the gradual decline in the threat of the pandemic around the world, as well as frosts in Texas, which plunged oil production in the United States to record lows.

Gold, as we predicted, went down beyondthe limits of the range of $1,800 - 1,900 per troy ounce headed towards a value of $1,720, ending February at a value of $1,732.45. Most likely, in March, the rate of the precious metal will be inclined to further decline towards $1,650.

The Russian ruble remained virtually unchangedUS dollar, starting February at 75.74 and ending the trading session on February 26 at 74.61. The EUR/RUB pair, as we expected, remained within the range of 89-91 per euro, but was inclined to decline. The Russian currency strengthened against the euro by almost 2 rubles, falling from 91.85 to 90.09. From a technical point of view, the USD/RUB pair being below the 75 level favors investors betting on the strengthening of the Russian currency.

February has passed on cryptocurrency exchangesambiguous. The BTC/USD pair immediately reached values ​​above 57,000. Investors were encouraged by the news that Elon Musk’s Tesla invested $1.5 billion in Bitcoin. Expectations that other large S&P 500 companies would follow Elon Musk’s example did not materialize. However, even despite this, the BTC/USD rate at the end of the month increased by a little more than $10,000 from $33,106. Also, according to the CEX.IO exchange, the BTC/RUB pair increased from 2,476,316 to 3,258,398.

The dynamics of the ETH/USD pair were less impressive:Ethereum rose from $1,312 to $1,352. However, during February, Ethereum managed to immediately overcome the $2,000 level and realize our short-term forecast. This happened against the background of the release of ETH futures on the Chicago Mercantile Exchange (CME) on February 8.

Asset dynamics for February:

- Oil rose from $ 54.91 to $ 64.43 (+ 17.33%)
— Gold decreased from $1,858.15 to $1,732.15 (-6.78%)
— The USD/RUB pair decreased from 75.74 to 74.61 (-1.49%)
— The EUR/RUB pair fell from 91.85 to 90.08 (-1.93%)
— Bitcoin rose from $33,106 to $43,469 (+31.30%)
— Ethereum rose from $1,312 to $1,352 (+3.05%)