Ibex Faces Another Sweet Day With Bitcoin As Main Protagonist

0
30

European stocks face another quiet day (futures are flat) after Wall Street continued to rise on Monday and set new all-time highs . In Asia, the green numbers have also dominated the session. At the moment it seems that the markets do not find any reason to correct and yes to continue adding positions.

Investors are still watching the US and its stimulus plan, the evolution of vaccination, Elon Musk and the ‘new’ on bitcoin, and business results. This Tuesday it is the turn of Twitter , among others.

Technically, the Ibex continues with its sights set on the annual highs (8,439 points) , a level it is gradually approaching. “The most normal thing is that, for the next few weeks, we could end up seeing an extension of the profits up to those prices”, remarks César Nuez, analyst at Bolsamanía and head of Trader Watch.

The agenda for this Tuesday is short of macro references, waiting for the US CPI for January to be published this Wednesday , probably the most important reference of a considerably quiet week in terms of macro data.

After this Monday Tesla was the protagonist for the purchase of 1,500 million dollars in bitcoin and for affirming that it will accept the ‘crypto’ to pay for its cars , today there is still talk of the company, which has published its sales in China.

The electric car maker’s sales in China, which amounted to $ 6.66 billion last year , account for about a fifth (21%) of the company’s total sales ($ 31.54 billion).

Thus, these have more than doubled compared to the previous year despite the coronavirus pandemic. In 2019, Tesla’s sales in China reached $ 2.98 billion, just 12% of the total of $ 24.58 billion.

And if Tesla and its CEO Elon Musk remain clearly in the spotlight, so does bitcoin, which continues to hit all-time highs. The ‘crypto’ is taking center stage after registering new highs this morning above $ 47,000. Right now it is up 8%.

The ethereum has also set new all-time highs . Right now it is up 1.5% to $ 1,742.

Analysts point to the fact that Musk has elevated it to the category of perfectly ‘usable’ currency as something very positive, triggering these very strong rises in bitcoin .

“Tesla’s investment in bitcoin is yet another sign that ‘crypto’ is a currency and can be accepted as payment . There is nothing that is going to stop bitcoin from going up. Next stop is 50,000 and then we head off towards 65,000 “, predicts Naeem Aslam, director of analysis of AvaTrade.

In other markets, the euro / dollar is trading at $ 1.2077, while oil continues to rise. The Brent barrel has already climbed to $ 61 ( $ 61.16. + 0.99%), while the West Texas barrel has advanced 0.95% to $ 58.52.

Gold rose 0.37%, to $ 1,840.90, and silver dropped very slightly ($ 27.55).