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Sunday, 18 March 11:32 (GMT -05:00)

Foreign exchange market

Muslims Are Forbidden to Trade and Mine Bitcoin

The Grand Mufti of Egypt Shawki Allam is reported to have issued the so-called fatwa (which means a ban on something) against cryptocurrencies. This means that Muslims can no longer trade or invest in Bitcoin or other cryptocurrencies. To be more specific, the Mufti thinks that trading cryptocurrencies is almost the same as gambling. Yet, gabling is strictly forbidden in Islam.
This decision to ban cryptocurrencies was made shortly after the Grand Mufti consulted with a group of experts. As we have already mentioned, the Grand Mufti thinks there is little to no difference between trading cryptocurrencies and gambling for money. Apart from being a risky asset (for example, the price of Bitcoin has been going up and down continuously over the last few years), any cryptocurrency is anonymous, which means it can create some space for being used by criminals (money laundering, contraband trading and so on).
By the way, he is not the first Muslim cleric to criticize Bitcoin and other altcoins that has been getting increasingly popular and growing in value at an unprecedented rate over the last 12 months or so. For instance, last month, Assim Al-Hakeem, who is a high-ranking Muslim cleric form Saudi Arabia, also banned cryptocurrencies for their ambiguity and anonymity, which is why criminals of all kinds low this thing.
The same holds true for Turkey’s Directorate of Religious Affairs, a major Turkish religious authority, that banned Bitcoin for being unregulated and used by criminals.


By the way, Bitcoin showed a strong rally in 2017 by gaining over 1300% in 12 months. Some other cryptocurrencies gained even more over the same reporting period.


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Google Bans ICO and Cryptocurrency Ads

A couple of days ago, the top management of Alphabet Inc. announced that Google would ban any ICO and cryptocurrency ad campaigns starting from June 2018. On top of that, they would toughen the requirements for advertising other risky financial products, including binary options.

Publication date: 18 March 05:54 AM

Both Gold and Dollar Go Down in Advance of Fed Meeting

Interestingly enough, despite having a negative correlation, both the U.S. Dollar and gold started going down in value against other majors earlier today. International experts assume that there are several factors pressing down these assets.

Publication date: 16 March 04:07 AM

Tillerson Gets Fired, Dollar Responds with a Drop

 International investors are concerned about Donald Trump’s decision to fire another high-ranking politician from his administration. This time it was Rex Tillerson. He used to serve as the U.S. Secretary of the State, which means he used to be responsible for the United States’ foreign affairs. Later on, Donald trump tweeted that he was going to make Mike Pompeo the next Secretary of the State. For those of you who don’t know, Mike Pompeo used to serve as the Director of the Central Intelligence Agency.

Publication date: 15 March 04:01 AM

China's Central Bank Is Skeptical About Cryptocurrencies

The People's Bank of China has been very skeptical (even critical) about cryptocurrencies. This is confirmed by the statement recently made by the central bank's president.

Publication date: 12 March 07:43 AM

Masterforex-V EXPO Names World's Best Forex Brokers for Beginners in February 2018

At some point in their career, each and every forex trader out there faces the same challenge - choosing the right forex broker. This holds especially true for beginners just getting their feet wet in the forex trading environment. Basically, their future performance will depend on that choice. The thing is, forex brokers may differ in a number of aspects, including the trading conditions they offer their clients.

Publication date: 12 March 07:17 AM

Bitcoin Quit Long-Term Correction

At this point, Bitcoin is trading around a major area of resistance. Having overcome it, the cryptocurrency will go further up, some experts believe.

Publication date: 06 March 02:00 AM

Bloomberg Intelligence Predicts Bitcoin Crash Down To $900

According to some experts working for Bloomberg Intelligence, the BTC exchange rate may crash all the way down to 900 dollars per 1 Bitcoin in the near future. They say this may happen because of decreased trading volume and bearish market sentiment.

Publication date: 05 March 03:51 AM

Bitcoin Is Above $9000, Litecoin Is Above $200

The cryptocurrency market keeps on recovering after the January crash. The current market cap is above $450 billion, with over $20 billion gained over the last 24 hours. Unlike other cryptocurrency market reviews, we are not going to start this one with Bitcoin, especially as it makes up for 34,9% of the total market share (used to be over 50%).

Publication date: 05 March 03:46 AM

Bitcoin Exchange Rate Drops Below $9000

Earlier today, the BTC exchange rate continued its way down to new local lows. In particular, it temporarily dove below the psychological threshold of 9000 dollars per 1 BTC. According to Coinmarketcap, the current local low is 8720 USD/BTC.

Publication date: 02 February 03:41 AM

Skeptics Predict Bitcoin Crash

As the amount of Bitcoin users is growing like never before, the amount of Bitcoin skeptics is growing as well. They are warning us that Bitcoin is doomed to crash at some point in the future. There are respected investors among them, who think that the rapid growth of Bitcoin and other altcoins is dangerous to those investing in them.

Publication date: 26 January 03:51 AM