Market Snapshot – The Cryptos Rise Again

Stocks Move Higher

The European stock markets have been generally buoyant during the course of trading today as some strong inflation data helped to lift the stocks higher. This is in contrast to much of the trading that has happened over the course of the week when the markets have been choppy with a bearish bias. The lift in the markets has also happened due to the repatriation of Apple taxes which should yield US a sizeable sum over the next few years. A combination of these factors helped to keep the DAX and the other markets buoyant.

Cryptos Rise as Well

It was a bullish day in the crypto markets as well with most of the crytos rising by over 10% during the course of the last 24 hours. Bitcoin prices sit comfortably above the $11,000 region as of this writing with the ETH prices also above $1000. This is contrast to the huge sell off that we had seen in the crypto markets on the previous day as concerns over additional regulations and shut downs in many of the major countries pushed the market on to the backfoot and led to some panic selling. The prices are now expected to stabilise and then pick up in the short term and this should encourage further buying which should be bullish for the crypto market.