Bitcoin is traded in a limited range of 10 days

 

During the week, bitcoin rose by 1.33% to $ 50053. Over the weekend, the price recovered by 8.6%, on Sunday – by 1.39%. The growth of quotations could be caused by the news that India officially accepts bitcoin as a legal tender. Such a post was published on the Twitter account of Indian Prime Minister Narendra Modi. Later it became known that the account was hacked on Sunday morning. The tweet also said that the government had bought 500 bitcoins for distribution to citizens.

On Monday, December 13, the exchange rate fell by 5.1% to $48,146 at auctions in Asia.

There was no news behind the fall. The BTC/USD pair has slipped down with other major currencies against the general background of the strengthening of the dollar.

The key events this week are the meetings of the US Federal Reserve, the ECB and the Bank of England, as well as press conferences by Jerome Powell and Christine Lagarde. The Fed is expected to announce a faster reduction in asset purchases. The rate of reduction in asset purchases is likely to be doubled to $30 billion per month, which corresponds to the completion of quantitative easing in March. A new strain of Omicron can change the plans of the US Federal Reserve.

The markets are twitchy, because the onset of a new wave of COVID-19 will force the authorities to take tougher anti-COVID measures, and the aggravation of problems with the supply of components, food and energy resources will cause an additional blow to the economy. There is little information on Omicron. All this has a negative impact on risky assets.

The price remains in the range on December 4. The support is still the level of $47 thousand. Below it are two levels of $44200 and $46200. They are interesting to sellers.