Cryptocurrency analyst, Saxo Bank
Summary: This week the entire crypto market cap fell by 8%, bringing the market cap to just under USD 280 bn. The SEC delays ETF decisions, and Binance schedules hours of maintenance. Meanwhile, Coinbase and Binance are preparing for the battle of the decade.
This week the entire crypto market cap fell by 8%, bringing the market cap to just under USD 280 bn. Ethereum and Bitcoin fell by about 9% each. It appears that bitcoin is heading for a re-test of USD 10k. Murad Mahmudov of crypto fund Adaptive Capital believes bitcoin to be in an accumulation band for a USD 100k price target in the future.
This Thursday, one of the largest exchanges by volume is set to undergo maintenance starting 2 AM UTC. Binance has stated that it will take six to eight hours for the upgrade. Once the update is complete Binance will resume trading 30 minutes after. Traders with margin positions are advised to look at their collateral balance before the maintenance period because the price could move against them during the downtime. Traders should be prepared for volatility during that time.
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
A political switch in China towards less tough control of its people and companies may kick things back into gear.
Redmond Wong,
Market Strategist
While the economic situation in Europe may not be as bad as feared, there's still a plethora of things to fix.
Chris Dembik,
Head of Macroeconomic Research
As the world turns increasingly bipolar, equity markets face harsh times as they transition into the new reality.
Peter Garnry,
Head of Equity Strategy
New alliances and collaborations outside of China may lead to prosperous times in Asia.
Charu Chanana,
Market Strategist
For years, it was thought that the balanced portfolio was a thing of the past. But recent developments may have changed that.
Peter Siks,
Investment Coach
Following a dramatic and volatile 2022 with good returns, a lot of this year's commodity performance may be driven by Chinese politics.
Ole S. Hansen,
Head of Commodity Strategy
2023 could be a tough year for currencies but EUR and JPY may have some upside.
John J. Hardy,
Head of FX Strategy
The commodity-heavy Australian market may have a good start to 2023, as the Chinese focus on growth signals demand for Aussie resources.
Jessica Amir,
Market Strategist
From a near-perfect environment for speculative assets before 2022 to the opposite, crypto faces fundamental challenges.
Mads Eberhardt,
Cryptocurrency Analyst
