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Bitcoin: cryptocurrency with a price rally close to $ 40,000

2021-07-26T06:00:10.907Z


Before the Ifo business climate was announced, the Dax fell slightly as prices in China collapsed. Bitcoin, on the other hand, is making strong gains - apparently short sellers are making a run for it.


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Bitcoin: cryptocurrency with a price rally after the price plummeted

Photo: PHILIPPE LOPEZ / AFP

At the start of the new stock market week, the Dax will start a little lower on Monday, according to calculations by banks and brokerage houses.

On Friday he had closed one percent plus at 15,669.29 points.

On Wall Street, gains in technology stocks had given a boost.

The leading index S&P 500 and the Nasdaq cracked new highs.

In contrast, things went downhill on the Chinese stock exchanges at the beginning of the week.

Investors feared a new regulatory initiative, including in the education sector.

The Shanghai composite fell 2.3 percent.

On Monday morning, stockbrokers will focus their main attention on the Ifo index, which reflects the mood on the German executive floors.

Experts expect an increase to 102.5 points from 101.8 points in the previous month for July.

The index for the mood of the German purchasing managers published on Friday had reached a record high in July.

Numbers from LVMH and Tesla

In addition, investors are hoping for further positive impulses from the current balance sheet season.

During the day, the low-cost airline Ryanair, the luxury goods provider LVMH and the electric car manufacturer Tesla open their books.

Dax, Dow and stocks at a glance

: Click here to go to the stock market

Bitcoin is rising again near $ 40,000

In terms of cryptocurrencies, Bitcoin continued to expand its recent price gains.

With a price jump of 13 percent, Bitcoin temporarily climbed again in the morning above the mark of 39,000 US dollars and reached the highest level in 4 weeks.

Ether cryptocurrency rose to a three-week high of $ 2,350.

After Bitcoin had already stabilized last week, short sellers are now apparently closing their positions, the market said.

If short sellers drop out, this gives an uptrend additional momentum.

In addition, avowed crypto fans have tried again in the past few days to support Bitcoin via Twitter.

Twitter boss Jack Dorsey emphasized that Bitcoin will play an important role in the future of the company.

Tesla boss Elon Musk had previously announced that the US automaker would accept Bitcoin as a means of payment again in the medium term.

Bitcoin's price was also driven by rumors that Amazon might also accept Bitcoin as a means of payment by the end of the year.

There was no comment from the company.

The cyber currency was recently quoted again on the Luxembourg trading platform Bitstamp at around 39,000 US dollars.

Courses in China under pressure

The euro moved little on Monday.

In the morning, the common currency was trading at $ 1.1779, a little higher than on Friday evening.

The European Central Bank had set the reference rate on Friday afternoon at 1.1767 dollars.

Price losses on the stock exchanges in China dampened investors' appetite for risk in the financial markets in the morning.

Against this background, the Japanese yen, which is considered to be relatively safe, rose against all other important currencies, while the euro slowed.

Oil prices hardly changed

Oil prices fell slightly on Monday.

Most recently, a barrel (159 liters) of North Sea Brent cost 73.65 US dollars.

That was 14 cents less than the day before.

The price of a barrel of American West Texas Intermediate (WTI) fell 18 cents to $ 71.74.

The rapid spread of the more contagious delta variant of the corona virus had recently caused stress.

The spread in many countries gives rise to fears of new restrictions on public life that would weigh on economic development and the demand for crude oil.

At the same time, the share prices recovering over the course of the week also created confidence on the oil market.

la / dpa-afx / reuters

Source: spiegel

All news articles on 2021-07-26

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