Irish low-cost Ryanair has shrunk its winter grid. The reason is the practically closed British market and further restrictions in other European countries.
Cryptocurrencies hit a milestone after a fivefold increase in market value last year, CoinGecko data shows. Experts explain that the impressive growth is the result of high demand from speculators, funds based on algorithms that follow the trend, wealthy people and even institutional investors.
“The more people see their assets depreciating, particularly fiat currencies, the more they will look for alternatives,” said Geoffrey Morphy, president of Canadian cryptocurrency mining firm Bitfarms.
The rise in the value of digital assets to over $ 1 trillion is largely due to the bitcoin boom. The most popular cryptocurrency today reached another record at 37.7 thousand. USD. Bitcoin has already increased by over 25 percent since the beginning of 2021, and by about 380 percent over the last year. According to CoinGecko data, bitcoin accounts for about two-thirds of the market value of all cryptocurrencies. Ethereum is in second place with 13 percent. market share.
Moreover, according to JP Morgan, the most popular digital currency still has good prospects, at least in the long term. In their opinion, bitcoin will attract more and more millennials as an alternative to gold. According to JP Morgan, bitcoin may rise to 146,000 in the long term. USD. However, in the coming months, the prospects for this cryptocurrency are much more difficult, taking into account the recent bullish market.
At the same time, specialists pay attention to a possible correction. Many multi-billion dollar bitcoin wallets have recently become active after a long hiatus. This suggests that some large investors may want to take a profit. Recall that less than 2 percent. portfolios are owned by 95 percent. of all bitcoins, so a few sizable trades could spike big drops.
Ryanair describes travel restrictions, quarantines, and multiple testing requirements as “draconian” and unjustified. And at the same time, it calls for an acceleration of the COVID-19 vaccination campaign both in the UK and Ireland. The airline announces that from January 21, until travel restrictions are lifted, it will operate a really very limited number of flights. So far, the line continues to fly to the UK as part of the truncated winter schedule. Great Britain also from Poland, but on the way back (at least until January 13) she cannot bring passengers.
The net cuts will probably come in two weeks.
According to the latest forecasts, Ryanair intends to carry 1.25 million passengers in January 2021, and then no more than 500,000 in the next two months.
These forecasts are much less optimistic than in the case of EasyJet, and rather resemble the grounding time of air transport in April and May 2020, when the first wave of the pandemic was sweeping through Europe. Carriers hope that the rebound will take place around Easter, when it gets warmer everywhere and the tendency to travel increases. This year, Easter falls on April 4.
In this situation, the airline intends to significantly reduce flights even until the end of March, which should not affect the financial results for 2020/2021, because the flights on which the planes are filled in 30-40 percent. they are loss-making anyway. The forecasts for the financial year 2021/2022 say that 26-30 million passengers will be transported, compared to “slightly below 35 million” a few weeks ago. For comparison, in 2019/2020 Ryanair carried 149 million passengers.
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