This week’s price movements for Bitcoin (BTC), gold and our stocks select Mastercard and BNY Mellon.

BTC

Bitcoin (BTC) continued its tumultuous turn into the $ 30,000 range throughout the month of July. However, the trend has been generally downward. Trading around $ 33,000 on July 1, the price of BTC almost jumped to $ 36,000 on July 5. Over the next few days, it fell below $ 33,000 for July 9. Another small rally came back to nearly $ 35,000. Here, things got worse, with successive drops below $ 32,000, $ 31,000, and finally $ 30,000 on July 14, 19, and 20, respectively. However, BTC was sold for around $ 30,000 on July 21. It is currently trading just above $ 32,000.

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Vijay Ayyar, director of the Luno cryptocurrency exchange for Asia-Pacific, said Wednesday’s price movement was likely a “dead cat bounce,” in which an asset briefly recovers from a prolonged decline before falling further. Unless bitcoin can break above $ 32,000 – $ 33,000, Ayyar expects further slippage, with BTC potentially dropping to $ 24,000 – $ 25,000. “We also saw big market rallies across the board last night, and I think cryptocurrencies are just playing with that,” Ayyar. said CNBC. “In general, there are currently a lot of macro factors weighing on risky assets: concerns about inflation, COVID and with cryptocurrencies we have more specific concerns, such as much greater regulatory oversight.”

GOLD

Gold had an overall prosperous July. Starting at $ 1,765, the price of gold rose steadily during the first week of July, reaching $ 1,812 on July 6. It then proceeds to channel between $ 1,790 and $ 1,820 in the following week, with a gradual upward trend. It then rises to $ 1,830 on July 14, 15, and 16, before dropping to $ 1,800 on July 19. Although the price rose again to $ 1,825 the next day, it is currently back, trading around $ 1,800.

Read also Three Arrows Capital bets big on Ethereum NFTs with the “Starry Night” fund

price of gold extended its decline on the back of a rally in stocks and a firmer US dollar, as investors turned to the European Central Bank for their policy stance. “With the return of risk appetite in the market, concerns about the possible implications of the coronavirus have once again subsided,” said Commerzbank analyst Eugen Weinberg. “As a result, gold as a safe haven in this situation has not been in great demand.”

BUT

Mastercard (MA) performed well overall in July, however it has lost some of those gains over the past week. Since July 8, MA has been trading around $ 368, reaching $ 376 on July 12. It then rose to higher highs for the next few days at $ 386, $ 391 and $ 393, staying around this level until last weekend. However, MA fell and sold significantly during business hours on July 19.

Shares of the payments company fell due to concerns about the increase in cases of the delta variant COVID in the United States. As a global payments company that facilitates transactions, you make money based on the total volume of expenses, so slower economic growth and potential freezes are inhibiting. Meanwhile, Mastercard announced earlier this week that it will improve its card program for cryptocurrency wallets and exchanges. This makes it easy for partners to convert cryptocurrency into traditional fiat currency.

BK

Finally, Bank of New York Mellon (BK) had a fairly neutral month overall. As of July 8, BK was trading around $ 48.50. next day it appeared and on July 10 it was trading at $ 50.50. However, it fell from there over the next two days, eventually reaching almost $ 47.50. Although it recovered slightly over the weekend, the price had fallen to the same level on July 19. BK then returned to $ 49.50 on July 20. It is currently trading around $ 50.

Also Read Ruling Party of South Korea Suggests Greater Forbearance With Cryptocurrencies

Earlier this week, BNY Mellon joined a consortium of six banks behind cryptocurrency trading platform Pure Digital. move demonstrates the growing demand for cryptocurrencies from traditional wealth managers. BNY Mellon, State Street, and a few other anonymous banks are setting up a cryptocurrency cash exchange venue in hopes of competing with the larger incumbents. While partnering with Pure Digital, BNY Mellon said it was “exploring new digital asset service solutions for our clients as the regulatory landscape develops.” BNY Mellon plans to use the payment platform to trade and provide other services. BNY Mellon began offering cryptocurrency custody to its clients in February,

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