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Bitcoin headed for $ 40,000



Bitcoin was predicted to retrace from the level above $ 30K, but in fact, the decline began after leaving above $ 40K. The strength of the bears lasted until the drawdown to $ 30K, from where the coin began to recover its positions again. Thus, the bulls and bears began a tug of war game, the preliminary results of which show the superiority of the bulls. According to CoinShares, institutional crypto products raised just $ 29 million in the first week of the new year versus $ 1 billion in the week before Christmas. If the pause lasts longer, crypto market participants may perceive this as the readiness of smart money to take profits after an impressive rally in recent months. The largest 100 BTC addresses are optimistic Over the past month, the largest bitcoin wallets have accumulated about 340 thousand coins. Moreover, during the fierce correction after exceeding $ 40K, only a small fraction of these wallets showed any activity, reflecting a willingness to wait for further price increases. Stock Market and Crypto Market The arrival of the new US administration is associated with the launch of new incentives. This is why the stock market overcomes gravity with ease. The indices are overbought, but the recent past has shown that it can be very expensive for the bear, and the market so far has only a direction for growth. The same pattern is true for the crypto market, which attracts some of the investors’ funds in search of ways to diversify their portfolios. XRP: rise and fall The coin could not get out of the downward channel for a very long time, and as soon as the token was able to show several times growth together with other altcoins, the SEC began to complain about it. The commission took the founders of the project so seriously that the coin not only collapsed in price, but also faced delisting on many crypto exchanges. While XRP is still attracting demand at the lows, the outlook is very dim. Ethereum: When is the all-time high? The leading altcoin market is having some very good times. Due to the successful movement towards PoS, great prospects due to the massive use of blockchain in the DeFi sector, the prospects for the coin are more than bright. Now the crypto community is waiting for the overcoming of the all-time high of about $ 1,400, which could open up prospects for further growth. In early February, CME is launching ETH futures, which could also drive the token price up. ______________ Alexander Kuptsikevich, Lead Analyst, FxPro

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