Weekly

May 20 th
 
Today's volatility range:

The gold market was unwilling to be lonely yesterday, with a volatility of $38. Affected by the fluctuation of bitcoin, the price of gold fell to the lowest of $1,852, but the adjustment was sufficient, which immediately attracted a large number of bulls to enter the market.

It even exploded to $1,890, but by the morning of zero, the minutes of the Fed meeting were released, pointing out that many officials agreed that if the economy continues to grow rapidly, the Fed will start discussing the reduction at "some time."

The scale of debt purchase will be appropriate. The Fed's tone changed slightly, which triggered the adjustment of the gold market, and it only rose slightly by one dollar yesterday. Yesterday's ups and downs of the gold market can serve as an inspiration for the resistance and support of the market outlook.

It is expected to consolidate in the near future. Today's proposed amplitude is between 1858 and 1880

Bitcoin fluctuated sharply yesterday, and staged a scene of crazy market. Calculated by yesterday's highest and lowest $43,600 and $30,066 each, the volatility was nearly $13,600.

Senior cryptocurrency investors are shocked by the crazy market conditions! Before analyzing the reasons for this fluctuation, we should review the history of bitcoin rising this time. With the Covid-19 pandemic,

The global economy has been severely hit. Under the leadership of the United States, central banks of various countries have implemented quantitative easing policies substantially, and all kinds of assets have been pushed up by new silver paper. Bitcoin is no exception.

Since the outbreak of the virus, bitcoin rose from nearly 10,000 yuan per piece in February 2020 to nearly 29,000 dollars per piece at the end of that year, an increase of three times, which is very exaggerated!

But what makes the cryptocurrency market even crazier is the remarks of Tesla founder Musk. On February 8 this year, Tesla announced that it would use its cash to buy bitcoin.

And accepted it as a payment method for buying a car, which triggered another wave of bitcoin. Since then, it has been known as the Ark Investment of "Lian Deng Qima" or "Wood Sister"

The founder Garfield added fuel to the fire and sang Bitcoin well. After that, Bitcoin hit a record high of $65,000 on the 14th of last month before it began to adjust.

 
The so-called success is Xiao He, but failure is nothing. Musk triggered another crazy fluctuation of cryptocurrency last week. At that time, he said that he was concerned about environmental protection and announced that Tesla would not accept Bitcoin as the payment method.

Bitcoin prices plummeted immediately, but then he showed that the company had no plans to sell cryptocurrency assets, and bitcoin prices reversed. Yesterday's big ups and downs were due to the statement issued by the People's Bank of China yesterday.

Reiterating that cryptocurrencies cannot be traded in any form of payment in China, prohibiting any platform from providing cryptocurrency messages on the Internet, and even prohibiting any economic activities with operators of cryptocurrencies,

For example, renting office buildings, which aggravated the selling pressure yesterday. The emoji of "Tesla" and "Holding Double Diamonds" pushed by Musk last night was understood by the market as implying by Musk.

Tesla did not sell when the market collapsed, which triggered a big rebound yesterday.

 
Yesterday, bitcoin plummeted, which triggered a tense atmosphere in the investment market. In addition, investors were worried that global inflation was out of control. Although the Federal Reserve has repeatedly played down the obstacles to economic recovery caused by inflation,

However, investors are still worried about the minutes of the April meeting released by the Federal Market Committee later last night. It is widely expected that the Federal Reserve will start to reduce the scale of bond purchases before raising interest rates.

It is believed that the wording may provide more clues about when the Fed may consider reducing bond purchases, thus affecting the market. European and American stock markets adjusted yesterday. The three major indexes of European stock markets fell across the board,

The DAX index in Frankfurt, Germany fell 1.77%; CAC in Paris, France fell 1.43%; The FTSE 100 Index rose 1.19%. New york's three major indexes also reported overall declines, with Dow Jones index falling 0.48%.

The Standard & Poor's 500 Index fell 0.27%, and the Nasdaq Index fell 0.03%.

 
The gold market was unwilling to be lonely yesterday, with a volatility of 38 dollars. The gold price was established in the Asian market, but after entering the European market, bitcoin plummeted, which triggered a tense atmosphere in the investment market.

The price of gold also fell to the lowest level of $1,852, but the adjustment was sufficient, which immediately attracted a large number of bulls to enter the market and soared to $1,890, the highest level since January 9. By the morning of zero,

The minutes of the Fed meeting were released, pointing out that many officials said that fiscal stimulus, vaccine progress, suppressed demand and high savings will continue to support consumer spending.

However, if the economy continues to grow rapidly, it will be appropriate to start discussing reducing the scale of debt purchase at "some time". The wording of the Federal Reserve triggered the adjustment of the gold market and finally closed at $1,870.

Slightly increased by 1 dollar.

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