2019 was a big year in global markets and for cryptocurrencies. It had its ups and downs, but it was no doubt a significant financial year. Check out this short summary.
So what’s in store for 2020? Well, the year started out very strong with incredible momentum in various markets, industries and in crypto.
Crypto on the Up and Climbing
The crypto market in 2020 is continuing on its upward trend, with its momentum from late 2019 gaining, showing a total market cap of more than $270 billion. Reaching price levels not seen since October, Bitcoin’s performance continues to impress, and many other cryptocurrencies are also showing notable gains.
Biotech is Going Strong
While numerous stocks from various sectors have been on the rise, biotech stocks have shown some incredible surges over the past few days, as the coronavirus scare looms in the background. For example, Puma Biotechnology nearly doubled in value over the first few days of February and Biogen leapt more than 20% in just two days. On eToro, the CRISPR-Tech Portfolio, which tracks leading biotechnology companies, has jumped more than 6% since the start of February, showing the market’s faith in this promising industry.
Oil: Buy or Sell?
The black gold is always a popular choice among eToro traders, however, the eToro community has been split on whether to go long or short on oil. On the one hand, oil plummeted at the beginning of February, which caused some traders to believe it could fall further. On the other hand, some believe that the current price is the bottom and that OPEC’s decision regarding a production slowdown could raise prices back up. Where do you stand?
To seize these opportunities, fund your eToro account and start trading.
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