6 January 2021
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2021 begins as 2020 ended: with a powerful bull market in cryptocurrencies. Going from record to record, Bitcoin showed more than $35,000 (or €29,000) on January 6, up 26% in one week. Ethereum has also been catching up in the last few days and is now trading above $1,000, getting closer to its historical high of $1,400. Except for a few exceptions such as XRP and projects based on anonymity, the performances of altcoins are also on the agenda since a week.
This bull market context forces you to adapt as an investor. When assets are in price discovery, technical levels are less relevant. Moreover, we observe that Bitcoin does not currently offer any retracement to reposition itself for long term investment. A very favorable price action for those who bought lower, but more complicated for those looking for an entry.
The watchword will be: do not sell your bitcoins. A good attitude can be to take profits on a small part of your position (10 to 15% of the maximum position) on psychological price zones fixed in advance, such as for example $30,000 or $40,000 on Bitcoin. We will see in the detailed analysis the potential price zones to make strategic purchases or reinforcements, if the price offers a correction in the order of 20-30%. We advise to keep this strategy until further notice. To date, there are no concrete signals of a trend reversal, either technically or from a macroeconomic point of view.
We wish you all the best for this new year!
We invite you to discover our analysis in video (in french and dated from January 5th) :
Coinhouse’s recommendation:
Hold / Take profits
Coinhouse’s recommendation:
Hold
Coinhouse’s recommendation:
Wait
1- Dogecoin (DOGE) : +130%
2- Stellar (XLM): +84%
3- Uniswap (UNI): +67%
1- Monero (XMR) : -16,7%
2- DASH : -13,2%
3- Zcash (ZEC) : -8,8%
In this article, all information is given for information purposes only, even if it has been established from serious and reputable sources. It does not constitute an offer by Coinhouse to buy or sell digital assets, or an offer to provide services on digital assets, nor does it constitute advice, encouragement or a recommendation to operate on the digital assets in question. It constitutes simple information over which the user holds absolute control. We inform you that if you choose to invest in digital assets, you must be aware of our general terms and conditions of sale (https://bit.ly/2FGW2ek) and accept the various risks listed and defined on our legal warning page (https://bit.ly/3c4sQKc).
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Investing in crypto-assets carries risks of liquidity, volatility, and partial or total capital loss. Crypto-assets held are not covered by deposit and securities guarantee mechanisms.
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