17.12.2021 Crypto Analytics Unfortunately, the wave of e | INSIDER says (EN, ES, RU)

17.12.2021

Crypto Analytics

Unfortunately, the wave of enthusiasm after the Federal Committee meeting on Wednesday was not enough to immediately reverse the technical picture and consolidate above 51000, and then 53500. In fact, its results didn't bring any unpleasant surprises, but you can't call them very positive either. Cheap money will end soon, and the discount rate in USA will rise and this is a fact.

Many market participants were positive about Jerome Powell's statement that cryptocurrencies are not a threat to the traditional financial system and that stabelcoins can be effective if they are regulated. But on the negative side, there was an accurate chart in which Committee members noted their projections of the discount rate for future periods. It turned out that for the long term, most of them see a rate of 2.5%, well above the projected 1.5-1.75%.

An unpleasant surprise was thrown up yesterday by the Bank of England, which unexpectedly raised the discount rate from 0.1% to 0.25%. Moreover, the options expiration is due today and it is advisable for the sellers to keep the bitcoin rate below the level of 48000.

The absence of unpleasant surprises is not enough for the breaking of the trend and resumption of growth, additional stimulus is needed. I think, they will appear not earlier than the new year.

Forecast for today: Another failure near 49500 disappointed market participants. Judging by all appearances, new testing of lower levels around 46500-47000 is expected. This area has withstood more than one onslaught and a new attempt could also be quickly bought off.

Information background

The Bank of Russia plans to ban investments in cryptocurrencies because of financial stability risks.
Source (https://www.reuters.com/markets/currencies/russian-cenbank-seek-ban-investment-cryptocurrencies-sources-say-2021-12-16/)

U.S. senators called on the Treasury Department to clarify the status of cryptocurrency brokers.
Source (https://www.nextgov.com/cybersecurity/2021/12/senators-ready-write-clarifying-legislation-maintain-us-leadership-crypto/359810/)

Christieʼs auction house has completed the auction of the NFT collection "The Birth of Wikipedia."
Source (https://medium.com/@Mramor/unknown-person-bought-nft-of-the-first-version-of-wikipedia-for-750-000-33035f5109b9)

The first-ever non-interchangeable token (NFT) has been released on the Dogecoin blockchain.
Source (https://www.cryptoglobe.com/latest/2021/12/doge-developer-mints-first-ever-nft-on-dogecoin-blockchain/)

Deutsche Börse bought Crypto Finance to create a digital asset ecosystem.
Source (https://www.thetradenews.com/deutsche-borse-completes-acquisition-of-digital-asset-trading-and-brokerage)