LUNO Market Analysis
A relatively slow week in the markets ended in fireworks yesterday, as Bitcoin fired past $50,000 for the first time in its short-but-distinguished history. The question now is whether $50,000 is just a check-in point on the way to even higher climbs, or whether it marks this bull run’s high point? The excitement all began last Monday, with Tesla’s announcement that they had bought roughly $1.5 billion worth of Bitcoin sparking a rapid ascent just when sentiment looked to have cooled somewhat. This week it was the turn of more traditional actors to keep the good news flowing, with Mastercard, BNY Mellon, and Deutsche Bank all making big crypto-related announcements. Who will make headlines next week? It was a slower week for ETH, which is still hunting to set its own landmark high over $2,000. Can it follow Bitcoin’s lead? Bitcoin tested $50,000 a number of times this week before eventually breaking through, with the resistance levels climbing higher and higher over...