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Friday, 20 September 16:53 (GMT -05:00)



Foreign exchange market

Bitcoin 2018: New Cryptocurrency Realities


In March, the BTC exchange rate dropped by almost 3000 dollars. Some experts predict a further downtrend in the near future, Market Leader reports.
 
Last Friday, the average BTC exchange rate dropped all the way down to 8360 USD/BTC. A day before, the price used to be above 9000 USD/BTC and then dropped down to the mentioned level. This means that the world’s first and most expensive cryptocurrency has actually failed to consolidate close to 10000 USD/BTC, not to mention breaking above this psychological level.
 
The price started retracing further down after several attempts to recover. At this point, CoinDesk experts predict a further move down to 8000 USD/BTC and maybe even lower.
 
At the same time, some other experts believe that Bitcoin may break and consolidate above 9000 USD/BTC once the price starts moving up. However, first Bitcoin will have to consolidate above 8700 USD/BTC, which seems to be the closest major level of resistance. Judging by Reddit comments, most users think the bullish scenario to be unlikely at this point. Most of them are bearish on Bitcoin in the short-term perspective.
 
At the same time, international experts say that the market started going down amid some news coming from Japan. In particular, the Bank of Japan warned Binance, which is a major cryptocurrency exchange. The thing is Binance has been rendering services to Japanese traders and investors without the corresponding license. So, if the exchange wants to continue doing so, they will have to get the license from the BoJ.
 
According to Ethereum World News, such headlines have been seriously affecting the global market of digital currencies. The international community has been concerned that other online exchanges worldwide may see pressure and are likely to be either forced to get license or suspend their services. Apparently, as international investors are getting more cautious and reducing their exposure to the cryptocurrency market, the trading volume keeps on going down and affecting digital currencies.
 
Bitcoin Tries to Recover
 
Bitcoin has made several attempts to recover this week. It overcame the $9K threshold but failed to consolidate about it. Needless to say that cryptocurrencies have been extremely volatile over the recent months, especially the top ones like Bitcoin. After rallying for a while, the BTC exchange rate reversed on March 25th and started retracing. More and more experts share the same opinion that Bitcoin will eventually be able to consolidate at new local highs for a long time if it manages to set them.
 

 

NordFX experts report that a couple of days ago, Bitcoin came close to 8900USD/BTC but then retraced back to 8000USD/BTC. Now it seems to be trying to recover a bit but those attempts have been unsuccessful so far.

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Bitcoin Exceeds $10K Again

It turns out that Bitcoin is still able to surprise. Despite the growing pessimism in social networks, recently has been a good time to load up on Bitcoin and other cryptocurrencies. The world's first and biggest coin has broken the psychological barier of 10000 dollar per coin. Does this mean going back to the bull market? At this point, the BTC rate is around 10300-10400 dollars per coin.

Publication date: 05 September 12:15 AM

NordFX: Forex And Cryptocurrency Market Review. August 2019

Right before the start of the last last trading  of this summer, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. So, this is what those predictions look like:
 
Publication date: 25 August 12:12 PM

Will Brexit Affect Bitcoin?

Some representatives of the international expert community assume that the Brexit is going to push Bitcoin higher, all the way up to new record highs in 2019. Nicolas Gregory, CEO of a blockchain company named CommerceBlock, is one of those experts. Not so long ago, he shared his standpoint with The Independent. He thinks that the Brexit may radically change the position of Bitcoin in the global economy and finances.
 
Publication date: 25 August 10:48 AM

Forex and Cryptocurrency Market Review by NordFX

At the beginning of the current trading week, NordFX experts came up with another set of market predictions based on a number of expert opinions backed by trending indicators and oscillators. This is what they came up with:

Publication date: 19 August 01:09 PM

Bitcoin ETF Decision is Delayed by SEC

The SEC, the USA's chief financial regulator, decided to delay the Bitcoin ETF decision once again. If the ETF had received the green light, we would now see it trading on CBOE and NYSE Arca. However, the Securities and Exchange Commission decided to put on hold the decision on three ETFs: VanEck / SolidX (CBOE), Wilshire Phoenix, and Bitwise Asset Management (both related to NYSE Arca).
 
Publication date: 15 August 01:00 AM

Forex and Cryptocurrency Forecast by NordFX. Mid-August 2019

Roman Boutko, an analyst for NordFX, has come up with another consensus forecast for the forex and cryptocurrency markets for the forthcoming trading week starting on August 12, 2019.
Publication date: 11 August 11:42 AM

British Pound And Brexit. What's Next?

The Brexit is going to come to the UK as the result of the 2016 referendum in the UK. 52% of the votes were cast in favor of the Brexit scenario back then. Chances are, the Brexit is going to affect the entire economic and financial system of the United Kingdom, including its national currency - the British Pound.
Publication date: 09 August 09:21 AM

Over 85% Of Bitcoins (BTC) Have Already Been Mined

Publication date: 05 August 03:28 AM

Coinbase Registers a Big Inflow of New Clients

An international cryptocurrency exchange named Coinbase is reported to have registered 5 million users of the last 12 months. This is what the latest report says. In particular, the amount of Coinbase users increased from 25 million users all the way up to 30 million users over the reporting period.

Publication date: 01 August 09:18 AM

Bitcoin Is Likely To Drop, Experts Say

At this point, the market cap of the entire cryptocurrency market is around 263 billion dollars, with over 64% being Bitcoin's share. Ethereum would have to gain more than 700% to break even with the king of cryptocurrencies. At this point, such a scenario looks unreal.

Publication date: 30 July 10:05 AM