Don’t miss out on Ethereum, Nike, and silver this week. You can trade over 50 assets on PrimeBit with up to 200x leverage. Forex, stocks, commodities, and crypto. Make sure you don’t miss out on these opportunities this week.
The crypto market is constantly changing and volatile. Bitcoin, Ethereum, and other major cryptocurrencies have crashed recently. Many factors may have triggered the sellout. More conservative Fed policy to fight inflation and crisis in Kazakhstan are among the possible reasons.
As a result, ETHUSD dropped over 25% from $4,139 in late December to $3074 at the moment. ETH has declined by over 34% from its all-time high.
Ethereum and other risky assets like tech stocks have been in a deep sell-off this year as investors worry about the Federal Reserve. Minutes published last week showed that more Fed officials were getting comfortable with rate hikes and an end to quantitative easing (QE) policies.
The 3k support is critical; the price may bounce back or fall into an abyss at any time. Bulls would consider it an excellent opportunity to buy low, while bears would use every green daily candle to continue selling.
Ethereum’s price is crawling back on Monday after declining to the lowest level since October during the weekend. ETH has declined by over 34% from its all-time high.
Nike stocks have fallen 5.94% to $ over the last three days of trading, which creates a tremendous buy-low opportunity if the equity markets rebound this week.
In a note sent to investors on Monday, equities research analysts at HSBC downgraded NKE to a “hold” rating. They presently have a $182.00 target price on Nike’s stock. The firm’s previous close was $184.40.
On Wednesday, December 22nd, Barclays upgraded its price target on Nike from $185 to $195 and assigned the company an “overweight” rating in a research note. On Wednesday, December 15th, Wells Fargo & Company initiated coverage on Nike.
Of course, the bullish recommendations from central banks don’t guarantee the prices will go up in the short term. Trade accordingly!
If Bitcoin fails to play the role of an inflation hedge, precious metals may reclaim the throne. Currently, XAGUSD is trading around $22, which may seem like an excellent opportunity for silver bulls.
The Federal Reserve will conclude its asset purchases to combat hyperinflation in March, and it will raise interest rates three times this year to control rising prices; the Bank of England unexpectedly raised rates in December, joining other central banks in Norway, Brazil, Mexico, South Korea, and New Zealand.
It’s going to be a fascinating week for both XAGUSD and XAUUSD.