September 26, 2021

CEX.IO company blog | Results (January 1-10): Ethereum has grown by more than 70% since the beginning of the year, Bitcoin has added 31%

Alexander Yanyuk, CEX.IO Broker finance expert comments:

Brent crude oil reaches new local high and fixed at $ 56.25 perbarrel. At the same time, quotations of black gold began the year at $ 51.47. The demand for oil futures was fueled by the news about the reduction in production in Saudi Arabia. Gold rose from $ 1,902 to $ 1,962, but the positive investor sentiment towards the precious metal ended there. By the end of Friday last week, gold quotes were trading down at $ 1,849 per troy ounce.

In the foreign exchange market, there was a multidirectionaldynamics. The ruble ended last week at 74.16 per USD, strengthening slightly against the US dollar. Thus, the USD / RUB pair has lost 25 kopecks since the beginning of the year. Most likely, during January, the Russian ruble will trade in the range of 72-75 per US dollar, however, if the epidemiological situation in the country begins to improve, it is possible that the USD will fall to 70 rubles. In relation to the euro, the ruble took a wait-and-see attitude and maintained its position in the range of 90-91. Most likely, in the near future the EUR / RUB pair will continue to run sideways at 89-91.

The cryptocurrency market saw a realhype about digital assets. Since the beginning of the year, Bitcoin has grown to the level of $ 38,000 at the moment of breaking through the value of $ 40,000. Recall that as of January 1, 2021, the bitcoin rate was $ 28,951. Ethereum first conquered the $ 1,000 level, and then headed to new local highs, ending last week near the value $ 1,300. We maintain a positive outlook for all cryptocurrencies and believe that corrective movements in BTC and ETH should probably be used to gain long positions.

Dynamics of fixed assets for the period January 1 - January 10:

- Oil rose from $ 51.47 to $ 56.25 (+ 9.29%)
- Gold decreased from $ 1,901 to $ 1,849 (-2.73%)
- The USD / RUB pair fell from 74.41 to 74.16 (-0.33%)
- The EUR / RUB pair fell from 91.53 to 90.66 (-0.95%)
- Bitcoin rose from $ 28,951 to $ 38,090 (+ 31.57%)
- Ethereum rose from $ 735.87 to $ 1,286 (+ 74.88%)