Bitcoin, Stocks, Gold Weekly Overview – 24 December
- Though Bitcoin declined over the past few weeks, it has climbed to trade at its local high beyond $51,000.
- Gold gained ground over the past week.
- Block Inc. (formerly Square Inc.) has seen rough moments over the past two months.
Let us check what the financial world had over the week.
BTC
Bitcoin (BTC) trades around its weekly highs despite the persistent drops over the past week. On 16 December, the bellwether digital token trades under $49,000. The asset declined from there as analysts awaited higher moves.
Meanwhile, 18 December sessions saw BTC approaching the $45,500 level. However, upward sentiment emerged, and BTC rose to $48,000 on 19 December. After that, sellers’ momentum materialized to take Bitcoin lower to $46,000 a day later.
However, tables turned once more, and the crypto surged to $47,000 before collecting strength to explore $48,500. Bitcoin finally rallied past a descending resistance level on late 23 December, attaining a local peal of $51,408. For now, on-chain data show possible upside moves for BTC.
Gold
Gold saw impressive actions over the past week, trading around $1,785 on 16 December. The prices started climbing by midday, hitting $1,815 on 17 December before dropping again to $1,790 on 21 December.
Gold endured plummets under $1,790 despite the upswing to $1,800. However, the asset started rising again on 22 December and currently trades near $1,806.
Gold noted upsurges as 2021 nears an end. However, improved risk appetite appears to limit the asset’s current appeal. Michael Langford, AirGuide corporate director, stated that the ‘Santa Clause rally’ boosted Bitcoin.
Block Inc. (SQ)
Formerly Square Inc., Block Inc., has witnessed rough actions in two months. SQ started downtrends towards November after highs of $260 during October end. The asset appeared to consolidate near $225 by 10 November.
Though the surge to $240, SQ ventured into downfalls by 17 November, touching $205 on 22 November. It maintained beneath the $220 mark for more than one week before crashing further to 4180 on 6 December. Despite rising from there to $190 within the following day, SQ persisted in the downswings, trading at $165 at the moment.
You can add anything we missed as far as the financial space is concerned over the past week.
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