April 21, 2021

CEX.IO company blog | Results of the week (February 15-23): Jannet Yellen nullified Elon Musk's $ 1.5 billion investment

Alexander Yanyuk, CEX.IO Broker finance expert comments:

Brent crude reached levels above $ 65 perbarrel, however, at the end of the week sharply changed direction and returned to values ​​near $ 62. Nevertheless, black gold was able to recoup losses and return to levels above $ 64 at the moment, reaching $ 66 per barrel.

A steady drop was observed last weekgold, which last Friday fixed at $ 1,770 per troy ounce. However, already this week, due to renewed fears about the growth of deferred inflation, the quotes of the main precious metal crawled upward, reaching $ 1,805 by the end of trading on 23 February.

USD / RUB pair started last week at73.71, and on February 21, trading on the instrument ended at 74.31. The EUR / RUB pair finished trading last week at 90.34, the ruble could not go beyond the established range of 89-91 per euro. From a technical point of view, the ruble continues to be prone to growth, as the USD / RUB pair is below 75.

Cryptocurrency exchanges have changed dramaticallymood. Over the past week, digital assets have been growing: bitcoin updated new all-time highs above $ 57,000, ethereum surpassed the coveted $ 2,000 mark. Investors were encouraged by the Tesla initiative of Elon Musk to invest $ 1.5 billion in bitcoins. Nevertheless, the crypto market looked very overheated. The trigger for the correction was Jannette Yellen's speech on February 22, in which she questioned the effectiveness and transparency of bitcoin. The result was a sharp decline in the quotations of the BTC / USD pair from $ 57,000 to $ 47,500.

Ethereum was also hit and lost inthe price of about $ 500, fixing on Tuesday of this week at $ 1,546. The Russian ruble won back about 10% from bitcoin - according to the CEX.IO exchange, on February 23, the BTC / RUB pair sank to the level of 3,456,662.

Dynamics of assets for the period February 15-23:

- Oil rose from $ 62.83 to $ 64.54 (+ 2.72%)
- Gold decreased from $ 1,826 to $ 1,805 (-1.15%)
- The USD / RUB pair rose from 73.71 to 74.31 (+ 0.81%)
- The EUR / RUB pair fell from 89.32 to 90.34 (+ 1.14%)
- Bitcoin rose from $ 47,172 to $ 47,500 (+ 0.69%)
- Ethereum dropped from $ 1,815 to $ 1,546 (-14.82%)