POKKET: Today’s Market Commentary (January 4)
Bitcoin made a new high yesterday, touching $34800 and now back to $33100, +1.3%. ETH however, is ripping up, adding 24% overnight to $960. Movers are LRC +27%, RSR +17%, SNX +13%, YFI BAND +11%, LINK OMG COMP +10%, OST -13%.
With Bitcoin well established, and psychologically looking expensive due to the price per coin, investors look for alternatives – and with XRP collapsed, ETH seems to be the best candidate. Adding to the moment, altcoin season may well be in full swing according to cryptwit.
Amidst the crypto bubble lurks the IRS, which is looking to take a ‘from education to enforcement in 2021’ stance, coming hard for tax collection on crypto gains according to the ex-chief of the IRS. You know what they say. There’s only two things certain in life: Bitcoin and tax.
Check out today’s interest rates at POKKET.