Dear BLUE users
We are glad to be back with positive news. BLUE gained 8.76% last week, rising from $204.81 to $222.74 (USDT).
Traditional markets had a great week, which continued until today’s markets closing (Monday 12th).
The cryptocurrency market followed, with Bitcoin and Ethereum both rising over 10%.You may also listen to this weekly update at our podcast BlueTeko.
What happened?
Markets conditions are very volatile, and most analysts believe technicals played a fundamental role on last weeks gains. Markets were oversold after the United States Federal Reserve Bank rates hike announcement, and investors saw this as a good opportunity to enter. In the case of Bitcoin, it dropped to the well-know buying zone between 18K and 20K, which proved once more to be an investor entry point.
What’s next?
This week will be very interesting. In traditional markets, the new US inflation numbers will be published, with analysts expecting a decrease. This would help markets to continue their recovery. In the crypto industry, the Ethereum merge might be finalised this week. We expect markets to react positively, with both Bitcoin and Ethereum sustaining their current run, helping on the recovery of the crypto market and the BLUE basket.
BLUE starts this week at $222.74 (USDT), a gain of +462.93% since its inception.
.png)
“Buy when there is blood in the streets”
Baron Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon.Although insensitive, this phrase lives on as the basis of contrarian investing. Technical analysis shows BLUE at a support zone.
BLUE is currently 70% down since its all-time high. Is this a misfortune …or an opportunity?
*This blog post cannot be copied, used, taken or disseminated as investment advice.
