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 oil reached levels above $65 perbarrel, however, at the end of the week it sharply changed direction and returned to values ​​near $62. However, black gold was able to overcome losses and return to levels above $64, reaching $66 per barrel.

There was a steady decline last weekin gold, which last Friday settled at $1,770 per troy ounce. However, already this week, due to renewed fears about the growth of deferred inflation, quotes of the main precious metal crept up, reaching $1,805 by the end of trading on February 23.

The USD/RUB pair started last week at73.71, and on February 21, trading on the instrument ended at 74.31. The EUR/RUB pair ended trading last week at 90.34, the ruble was unable to 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 dramaticallymoods. All last week, digital assets were growing: Bitcoin updated new historical highs above $57,000, Ethereum surpassed the coveted $2,000 mark. Investors were encouraged by Elon Musk’s Tesla initiative to invest $1.5 billion in Bitcoin. However, the crypto market looked very overheated. The trigger for the correction was Janet Yellen’s speech on February 22, in which she questioned the effectiveness and transparency of Bitcoin. The result was a sharp decline in the quotes of the BTC/USD pair from $57,000 to $47,500.

Ethereum also came under attack and lostprice of about $500, having consolidated on Tuesday of this week at $1,546. The Russian ruble gained back about 10% of Bitcoin - according to the CEX.IO exchange, on February 23, the BTC/RUB pair dropped to 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 decreased from 89.32 to 90.34 (+1.14%)
— Bitcoin rose from $47,172 to $47,500 (+0.69%)
— Ethereum decreased from $1,815 to $1,546 (-14.82%)