News • 3 min read
By Aron Abraham
As 2021 is slowly coming to an end, investors’ sentiment seems to be returning to positive following recent market movements. Crypto struggled to regain momentum, while some assets performed better than average - find out all you need to know in this week’s market recap.
The infamous meme token, Shiba Inu (SHIB) shook the entire crypto market by its extreme price movement earlier this year, even securing a spot among the top 10 cryptocurrencies for a short while. But just when the hype seemed to be over, the project reclaimed the spotlight by revealing plans about launching a multi-platform game where SHIB holders will be able to play with or against each other. The game will be created within the first half of 2022.
The civil trial of what some hoped would be the lawsuit revealing the real identity of Satoshi Nakamoto finally came to an end. Craig Wright, known to the public for claiming to be Bitcoin’s creator Satoshi Nakamoto, was sued by the family of the deceased Dave Kleiman for a share of the 1.1M Bitcoin that Wright and Kleiman allegedly mined together in BTC’s early days. Wright was only found guilty of intellectual property theft and has to pay Kleiman’s family $100M in damages. For some, Wright’s innocence is the final proof he might actually be Satoshi Nakamoto, for others it’s an expensive way to keep the lie going.
The stock market closed a pretty positive week with European and U.S. indexes closing with some healthy percentage points in the green, especially with the S&P 500 reaching a record high for the second time this year. The Asian stock market also closed the week safely in the green. Even though market sentiment is still fearful, investors seem to be more optimistic than in the past two weeks.
The American technology company which is famous for providing e-signature and contract solutions took a significant hit after its report about expected and achieved results. Following the missed targets, many of the top analyst firms such as JPMorgan and While Citi lowered their ratings of DOCU and adjusted their price estimates heavily. Since the event, DOCU’s price has seen a slight rebound, but is still trading around the valuation reached after the dip.
Volkswagen (VOW)’s price closed an outstanding week, as the German giant has recently announced multiple partnerships with leading battery technology companies, such as Vulcan Energy Resources, in a significant effort to fully transition its offering to electric vehicles by 2040. The firm also invested in battery startup 24M Technologies, further supporting the above long-term goal. Overall, Volkswagen aims to dedicate €30B to its electric vehicle developments, including six new megafactories opening in Europe in the upcoming years.
This article does not constitute investment advice, nor is it an offer or invitation to purchase any digital assets. This article is for general purposes of information only and no representation or warranty, either expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this article or opinions contained herein. Bitpanda Stocks are contracts replicating an underlying stock or ETF. More information and the PRIIPs key information document (KID) are available at bitpanda.com.
The BEST way to get the most out of BitpandaRead more
Bitpanda GmbH ve grup şirketleri (Bitpanda) Türk Parasının Kıymetini’nin Korunması Hakkında 32 sayılı Karar’ın 2/b maddesine göre Türkiye’de yerleşik sayılan hiçbir kişiye yönelik olarak 6362 sayılı Sermaye Piyasası Kanunu başta olmak üzere Türkiye Cumhuriyeti Devleti mevzuatı hükümleri gereği Türkiye’de faaliyet izni gerektiren hiçbir sermaye piyasası faaliyetine dair hizmet sunmamaktadır. Şayet Bitpanda’nın yabancı sermaye piyasalarında vermiş olduğu hizmetlerden Türkiye’de yerleşik kişilerin faydalandığı tespit edilecek olursa tüm zararları kullanıcıya ait olmak üzere bu hizmetler ivedilikle sona erdirilecektir.
As the name would suggest, some cookies on our website are essential. They are necessary to remember your settings when using Bitpanda, (such as privacy or language settings), to protect the platform from attacks, or simply to stay logged in after you originally log in. You have the option to refuse, block or delete them, but this will significantly affect your experience using the website and not all our services will be available to you.
We use such cookies and similar technologies to collect information as users browse our website to help us better understand how it is used and then improve our services accordingly. It also helps us measure the overall performance of our website. We receive the date that this generates on an aggregated and anonymous basis. Blocking these cookies and tools does not affect the way our services work, but it does make it much harder for us to improve your experience.
These cookies are used to provide you with adverts relevant to Bitpanda. The tools for this are usually provided by third parties. With the help of these cookies and such third parties, we can ensure for example, that you don’t see the same ad more than once and that the advertisements are tailored to your interests. We can also use these technologies to measure the success of our marketing campaigns. Blocking these cookies and similar technologies does not generally affect the way our services work. Please note, however, that while you’ll still see advertisements about Bitpanda on websites, the adverts will no longer be personalised for you.