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Bitcoin remains within the reach of $ 50,000

On Thursday, February 25, the financial markets showed a predominantly downward trend. Brent crude oil fell to $ 66.14, however, such dynamics may be due to the approaching close of the month. From a technical point of view, Brent quotes are prone to a bullish trend, as they are above $ 65 per barrel, but a strong resistance area is at $ 70. From a fundamental point of view, the prospects for energy carriers are quite positive, as a reduction in the onslaught of the pandemic will soon return stable demand for hydrocarbons to the markets. Gold, which during the week did not abandon its attempts to gain a foothold above $ 1,800 per troy ounce, returned again to levels near $ 1,770, which confirms our forecast of a gradual shift in the range of fluctuations of the precious metal towards $ 1,720 -1,820. dynamics. The Russian ruble came under pressure and returned to levels above 74 per US dollar, ending the trading session at 74.38. The EUR / RUB pair added 1.72% and returned to levels above 90. From a technical point of view, the balance of risks for the ruble is shifting towards its further weakening, however, most likely, the Russian currency will be supported by fundamental factors, primarily tax the season. Also, the number of people infected with COVID-19 is gradually decreasing in the country, which indicates the effectiveness of vaccination and other measures to curb the spread of coronavirus. This is an additional factor for traders who are betting on the strengthening of the ruble. On cryptocurrency exchanges, for most assets, Thursday passed in red territory with a slight decrease. MicroStrategy company failed to reverse the trend, however, we note that the stabilization of the cryptocurrency rate is likely to benefit crypto markets and traders, since the overheating of digital assets in the past few weeks has been obvious. Bitcoin at the end of trading on Thursday was at $ 49736 (-0.77%), Ethereum lost 3.57% and consolidated at $ 1,597. According to the CEX.IO exchange, the BTC / RUB pair lost 1.48% and was trading at the level 3,594,014. This time, the dynamics of the ruble pair with bitcoin diverged from the dynamics of the ruble against the dollar, which indicates the effectiveness of the diversification of digital assets paired with various currencies. We believe that the current situation on cryptocurrency exchanges is helping to form a new base for further upward momentum. The third wave of bitcoin bullish movement could reach the level of $ 90,000, however, we do not exclude that large tech business in the United States could accelerate the dynamics of cryptocurrency assets if Tesla follows ._________________ Alexander Yanyuk, Finance Expert, CEX.IO Broker

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