Dear Teroxx Community,
This week we saw positive counter-movements after last week’s setbacks. Thus, almost all digital assets had a bullish week.
As usual, we are also providing detailed videos for those who want to delve deeper into the subject.
Latest crypto news
Bitcoin is currently outperforming the popular S2F price forecast model (which could see Bitcoin at $200,000 in the long term). The S2F model forecasts the long-term price trend of Bitcoin and takes into account two main factors. One is the amount of BTC in existence (the stock) compared to the amount of newly mined Bitcoins entering the market (the flow). According to the S2F multiple, the bitcoin price should hover around $36,851.
While the bulls and the bears are currently fighting over whether or not Bitcoin can establish itself above the $50,000 mark, several experts agree that the market-leading cryptocurrency has much further to go in this record run.
For example, Mike McGlone, the senior analyst at Bloomberg Intelligence, concludes from the historical price performance that the crypto market leader could soon climb to 100,000 US dollars. Many other analysts are also positive about the price development in the long term, but warn against larger local setbacks!
The top-50 companies in Zug’s crypto industry have been able to add $250 billion since the start of the Corona crisis. A new report from a Swiss investment firm finds that the top 50 companies in “Crypto Valley” have increased in value by 680% since July 2020.
As the “Top 50 Report” by Zug-based Crypto Valley Venture Capital (CV VC) reveals, the enterprise value of the top 50 crypto companies in the “Valley” has increased from $37.5 billion in July 2020 to $254.9 billion in February 2021. This clearly shows the momentum in digitization, driven by the Covid-19 pandemic.
Technical term of the week
Perpetual Futures: There are several forms of possible futures trading. One form is perpetual trading. Perpetual means that there is no “expiration date” for the respective trade. This means that the trade does not expire on a certain date and can therefore be held “indefinitely” in theory.
Bulish outlook: Establishing $50,000 as support this week would already be “enough” to boost the markets.
Bearish Outlook: If $50,000 serves as a strong resistance and the general world market sentiment is bearish, it could also drag Bitcoin and other digital assets back down by a few percentage points.