Bitcoin (BTC) Loses Considerable Ground in April, but Ethereum and Altcoins Reach New Highs, OKEx Reports
Bitcoin (BTC) lost considerable ground in April 2021, however, Ethereum (ETH) and other altcoins soared high,
OKEx reports in a comprehensive crypto market update.
April 2021 finally broke BTC’s winning streak “despite it being a historically positive month for price action,” the report from OKEx noted while adding that the leading crypto “ended April with a loss of 3.62% after posting a new all-time high of $64,847 on April 14, 2021.”
As noted in the report shared with CI, the “subsequent retracement saw support from spot buying power in the last week of the month as BTC rebounded to 57,000 USDT levels, however, it was not enough to print a green monthly candle.”
By Sameer van Alfen2021-05-12T13:11:00+01:00
The Dutch pension fund for specialty chemicals firm DSM has made a 5% investment in physical gold because of its diversification benefits, it claimed.
The investment in the precious metal, which started October 2020, was the result of a reduction in the fund’s exposure to government bonds by 10 percentage points because of a negative expected return on the asset class.
It has invested half of the proceeds in gold, and the remainer in equities, real estate and infrastructure, the fund announced.
The scheme has invested in gold before. “In the past, pension fund DSM Nederland has invested in gold as part of its exposure to commodities,” according to a spokesperson. An investor that follows the Bloomberg Commodity Index has a 15% exposure to gold, for example.
May 10, 2021 | Inflation Boom
Steve Saretsky Steve Saretsky is a Vancouver residential Realtor and author behind one of Vancouver’s most popular real estate blogs, Vancity Condo Guide. Steve is widely considered a thought leader in the industry with regular appearances on BNN, CBC, CKNW, CTV and as a contributor to BC Business Magazine. Steve provides advisory services to banks, hedge funds, developers, and various types of investors.
Inflation is picking up, this is particularly the case for commodities. Commodities jumped to their highest in almost a decade as a rebound in the world’s largest economies stokes demand for metals, food and energy. The Bloomberg commodity index is now up a whopping 50.54% from last year, and 20% year to date.
5/11/2021 10:26:30 AM GMT
Inflation concerns taking its tolls on stocks around the world as the ‘tech wreck’ goes global.
No eco data today – so the conversation is all about Wednesday and Thursday.
Colonial Pipeline expects to be back by the weekend.
Key S&P levels identified, and circuit breakers are on alert.
Try the Risotto.
Look – it is anyone’s game right now…. I expected to see some exhaustion but then the gov’t comes out with non-sensical numbers so that throws the theory into a tailspin….
And if this morning’s action is any indication – we will see the S&P churn…. And with tech weaker again this morning – expect to see the S&P under a little pressure.