close icon

Weekly Highlights: Bitcoin, Dash and Apple

It’s been a very busy week for the likes of Bitcoin and Dash, as well as the stock market. Cryptocurrencies saw a roughly 40% drop and over $200 billion of value wiped out in 48 hours. At the same time Dow Jones continued climbing and reached 26,000, with optimism partially fueled by the tax cut for corporations.

The largest number of headlines was reserved for Bitcoin and the popular altcoins. At the beginning of the week we saw one of the biggest drops in the sector, with the most popular digital coin falling 50% from its all-time high before recovering to about 12,000. News was playing catch-up – China cracked down on exchanges on Monday, but Elliott Wave analysis helped us identify the first signs of the drop over ten days ago!
Total Cryptocurrency Market Capitalization

Our Dash analysis from January 3rd also panned out with its movements coming right on schedule. It’s one of the more interesting cryptos out there and we’ve followed up with a fresh Elliott Wave analysis.

Apple made a huge announcement on Wednesday that they will bring back over $350 billion back to the U.S. to take advantage of the new tax rates that favor corporations. Its stock tracked the overall bullish mood and closed the week at 178.46.

 



Stay informed with our newsletter

Latest Elliott Wave analysis on different topics delivered to you weekly.

Privacy policy
You may also like:

Weekly Highlights: Euro, Ripple, Illumina and Oil

The euro had a funny week (or nerve wracking, depending on how you look at it). On Monday it dropped to almost 1.19 but as of Friday’s close we’re at 1.22. What people think caused it – German coalition talks. Or was it something we managed to identify two weeks ago in this New Year’s article?…

Read More »

Weekly Highlights: Intel, AMD, Oil

The first week of January was quite eventful with an all-time high for the Dow Jones and Crude Oil breaking above $61 for the first time since 2015 (when it briefly touched $62 and proceeded to drop below $27). It wasn’t all sunshine and rainbows though, as two tech companies found themselves in the news…

Read More »

More analyses