Bitcoin Breaks to Record High

The two major cryptocurrencies, Bitcoin and Ethereum, break out to reach new record prices.

  • The cryptocurrency sector is rising strongly, with Bitcoin and Ethereum breaking strongly to new all-time highs. The price of Bitcoin is likely to continue its advance over the coming days.

  • The price of gold is rising firmly to approach its multi-month cap at about $1833. A breakout beyond that level could be interesting if it happens over the coming days, but the price may well fail to break and turn bearish again.

  • In the Forex market, the US dollar is selling off over the short term despite its long-term bullish trend. The movement is nothing spectacular but it does seem to be firm. The dollar is the weakest currency right now while the euro is the strongest, seen from a short-term perspective.

  • Today will see a release of US PPI data which may have some effect upon the value of the USD.

  • Last week saw the third consecutive global weekly rise in new confirmed coronavirus cases after two months in which cases fell steadily.

  • It is estimated that 51% of the world’s population has received at least one dose of a coronavirus vaccination.

  • Total confirmed new coronavirus cases worldwide stand at over 251.1 million with an average case fatality rate of 2.02%.

  • The rate of new coronavirus infections appears to now be increasing most quickly in Austria, Belgium, Chile, Croatia, Cyprus, the Czech Republic, Denmark, the Dominican Republic, Egypt, Finland, Georgia, Germany, Greece, Hungary, Iceland, Jordan, South Korea, Laos, Luxembourg, Montenegro, Netherlands, New Zealand, North Macedonia, Norway, Poland, Russia, Slovakia, Slovenia, Switzerland, Vietnam, and Trinidad.

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