Of course, it is better to do an active morning jog and exercise than to think about bitcoin and what is happening to it at the moment...
Since yesterday, we have seen a sharp increase in bitcoin.
What happened in the world that the first cryptocurrency in the world began to grow in such an unstable time?
I went to read the news, it turns out that yesterday the largest European Bank HSBC published its forecast. HSBC reserves for possible loan losses this year may amount to $11 billion.
This amount is significantly higher compared to the 2008 crisis.
HSBC is preparing for a wave of defaults and bankruptcies in the banking sector.
Then I opened coinmarketcap and see that the market capitalization is in the range of $260 billion, and the daily turnover is $240 billion.
With these numbers in February 2020, we saw very different prices for cryptocurrencies, significantly higher for altcoins such as XRP the price was above $ 0.26, BCH above $ 400 was traded.
I noticed that the daily turnover of USDT is almost 94 billion dollars, which is higher than that of BTC at 71 billion dollars.
What does this mean? Can someone explain this to me?
Players only buy crypts in the long term, and all the trading is waiting for us ahead, when in the coming days or months?
Who will give what forecast for the end of the year?
I anticipate that this year will be a very serious test for the entire global financial system.
In my opinion, the crypt does not have a fundamental technical analysis, it is not a stock market where shares of many well-known global companies are traded.
I think that it is unlikely that anyone will try to predict what price BTC and other cryptocurrencies will have.
But all this is very disturbing...
Have a good day to all