Banco Santander Offers Bitcoin & Ethereum Trading In SwitzerlandSantander bank will let wealthy domestic account holders of Switzerland trade Bitcoin, Ethereum through digital wallets.
Financial service giant and retail bank Banco Santander announced that they will offer Bitcoin and Ethereum trading options to Switzerland account holders. The trading option is for high-wealth Swiss accounts and within a given criteria.
The services will be given to clients whosoever opt it through Relationship Manager. Adding more to it, the assets will be locked in a regulated custody model. The model will hold the private cryptographic keys of customers which will add another layer of security to it.
Technical Analysist
Price Momentum
SAN is trading in the middle of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors are still evaluating the share price, but the stock still appears to have some upward momentum. This is a positive sign for the stock's future value.
Bancosantander
Banco Santander: Love story with Blackstone gone wrong?Quasar is the firm created by Banco Santander in association with Blackstone, who holds 51%, to deal with Banco Popular's toxic assets. In 2019, Quasar suffered losses of €1229 million and covid19 may increase them a lot. If Blackstone decides to bring the Spanish bank to court, SAN could face subpoenas and legal amendments that could bring down SAN's shareprice once again from its recent peak 3€. Therefore, in the coming weeks investors will be careful on including SAN shares in their portfolios and we might expect some volatility once SAN touches 3.16 level, as I do not expect it to cross Fibonacci retracement level of 0.78 because its RSI will have already surpassed 70 (overbought).
But watch out short sellers because analysts predict that Banco Santander will have €4300 million in profits for 2021 compared to its losses of €8771 million in 2020.
Banco Santander: Bullish in 2020. Investment opportunity.The bank like the industry as a whole is on a long term bearish trend since the pre subprime mortgage crisis in 2007. On the 1W chart we see a clear bearish curve (RSI = 42.379, MACD = -0.083, ADX = 31.053, Highs/Lows = -0.0432) with Lower Highs and 3.1000 as the Support.
Since 2009, once the price crosses the 1W MA200 (orange line) SAN becomes a long term Sell opportunity. At the moment the RSI fractal is posting a bottom sequence and since we are that close to the 3.1000 Support we are turning bullish on Santander for the year and will sell once we cross the 1W MA200.
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