Bitcoin cryptocurrency rally over $ 51,000, recovery in crypto market before Christmas

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Bitcoin price rally:

A few traders were still active in Hong Kong at Christmas

Photo: JEROME FAVRE / EPA

Hope dies last: While most equity investors have already closed their books for the year 2021, there is heavy trading on the crypto exchanges even during the Christmas period. In lockstep with the global stock markets, Bitcoin, the world's best-known digital currency, has also started to recover in the past few days: On Friday night, Bitcoin climbed by more than 5 percent at times and climbed back above the US $ 51,000 mark. That is the highest level in four weeks.

The digital currency has had turbulent weeks with massive fluctuations. In early November, Bitcoin had risen to a record high of $ 67,000, but then crashed again to $ 46,000 by mid-December - a loss of almost 30 percent within six weeks. Since then, things have been on the up again: In the past two weeks, Bitcoin has recovered by more than 10 percent and exceeded the psychologically important round mark of 50,000 US dollars. In order for the optimists to regain the upper hand, this hurdle must be overcome in the long term, says Naeem Aslam, chief market analyst at the brokerage house AvaTrade. Irrespective of short-term price fluctuations, however, interest in cryptocurrencies is growing, which can be seen from the continuous inflow of capital into this asset class.

Bitcoin fans even dream of a price rally like a year ago: Between December 24, 2020 and January 8, 2021, Bitcoin shot up from $ 24,000 to $ 40,000 - a price gain of more than 60 percent within 14 days.

A run similar to that of the 2020 Christmas rally is not to be expected this year.

Nevertheless, at least the trading volume on the crypto exchanges often increases if there is no trading on the stock exchanges.

Profits in Asia

In Germany and the USA there will be no trading on Friday.

But at least in Asia, the stock markets were robust on Friday.

While the Tokyo stock exchange closed with little change, other stock markets rose somewhat.

"Since it looks like neither the tapering nor the Omikron variant will have too much of an impact on the economy, the money is flowing into stocks around the world," said Steven Leung, director of institutional sales at UOB Kay Hian in Hong Kong.

Dax and Dow Jones with profits before Christmas

Wall Street resumed its recovery course ahead of the extended Christmas weekend.

The US standard value index Dow Jones rose on Thursday for the third day in a row, this time by 0.6 percent to 35,977 points.

The broad S&P 500 rose similarly to 4,728 positions, closing higher than ever before.

The technology-heavy Nasdaq climbed almost one percent to 15,676 jobs.

The indices also rose for the third day in a row in Germany and Europe.

Dax and EuroStoxx50 rose by 1.1 percent each.

In Asian foreign exchange trading, the dollar was almost unchanged at 114.39 yen and stagnated at 6.3696 yuan. In relation to the Swiss currency, it was quoted 0.1 percent lower at 0.9172 francs. At the same time, the euro remained almost unchanged at 1.1329 dollars and fell 0.1 percent to 1.0391 francs. The pound sterling lost 0.1 percent to $ 1.3396.

"European and American stock market returns in the double-digit range, who would have thought?" Wrote strategist Robert Greil of the Merck Finck bank.

The stock market year 2021 was much better than expected for shareholders.

"Perhaps market participants will be surprised again at the end of next year".

The economy should continue to recover.

Consumers have built up consumer wishes and the recently problematic supply chains are likely to relax.

Gains on the Nasdaq, Tesla shares still in demand

The US stock exchanges also initially continued their recovery on Thursday.

The tech index Nasdaq also benefited from the high price gains of

, which continued their recovery from the previous day and again

.

The reason for this is that Tesla boss Elon Musk does not intend to sell any more Tesla shares for the time being.

The day before, Musk had announced that the goal of selling more than ten percent of its shares in Tesla had been achieved.

This now has a liberating effect, the selling pressure of the past few weeks is gone.

With news agencies