Блог компании CEX. IO | Results of the week (February 1 – 7): cryptocurrencies revived, bitcoin returned to $40,000

Alexander Yanyuk, CEX.IO Broker finance expert comments:

Brent crude oil sent for testingmark of $60 per barrel, however, most likely, this level will become an important technical resistance, near which the price will consolidate before further movement.

Gold rate after weakening messagesthe pandemic dropped and at the moment went below $ 1,790 per troy ounce. Nevertheless, the price of the precious metal at the end of last week stabilized at $ 1,815, thus remaining within the range of $ 1,800 - 1,900.

At the end of the week, the Russian currency managed tostrengthen to 74.65 per US dollar and shift the balance of risks towards further strengthening. The EUR/RUB pair dropped below 90 again, reacting to the weakness of the euro and the strength of the ruble. February is likely to be a fairly calm month for the Russian currency. In our opinion, it is likely that the ruble exchange rate range will shift towards 70-73 for the USD/RUB pair, and 85-88 for the EUR/RUB pair.

The first week of February passed under the signreturn of cryptocurrencies to the upward movement. Bitcoin plied close to the previously reached highs, at the moment the BTC / USD pair reached levels above $ 40,000. The BTC / RUB pair showed a similar dynamics and, according to the CEX.IO exchange, fixed at 2,801,732. Ethereum also continued its upward trend, reaching new local highs - the ETH / USD pair consolidated at $ 1,569 at the end of the week.

Dynamics of assets for the period February 1-7:

- Oil rose from $ 54.91 to $ 59.56 (+ 8.46%)
— Gold decreased from $1,865 to $1,815 (-2.68%)
— The USD/RUB pair fell from 75.74 to 74.65 (-1.44%)
— The EUR/RUB pair fell from 91.85 to 89.95 (-2.07%)
— Bitcoin rose from $34,281 to $38,074 (+11.06%)
— Ethereum rose from $1,377.05 to $1,574.96 (+14.37%)