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Friday, 20 September 16:23 (GMT -05:00)



Foreign exchange market

Billionaire Predicts Major Rally for Bitcoin


Michael Novogratz, a billionaire and investment banker, thinks that the Bitcoin exchange rate is going to skyrocket within the next 20 years. In particular, he believes that in two decades, the market cap of the world's first cryptocurrency will exceed the one of gold. For that, the BTC rate will have to increase by 10000% to reach 7,5 trillion dollars.
 
Apparently, this is going to happen if big-scale institutional investors come into play at some point in the near future. The thing is that big-scale companies are getting more and more interested in cryptocurrencies in general and Bitcoin in particular. Goldman Sachs and Intercontinental Exchange are among those big-scale players. If that's really the case, that's destined to give the whole industry a huge positive momentum.
 
The billionaire thinks that the long-term prospects of Bitcoin are very strong. And he back his standpoint by multiple examples of factors backing this positive tendency, including the forthcoming launch of Fidelity and Bakkt, which will happen sooner or later.
 
As for exceeding the mentioned 7.5-trillion-dollar threshold, the billionaire is convinced that this is certainy to happen at some point within the next 20 years. 
 
At this point, 1 BTC is trading slightly over 4000 dollars.  This is 20-25% higher than December's levels when the exchange rate dropped down to 3300 dollars per coin. 
 

BTC/USD. Technical analysis

 

Daily chart, courtesy of FortFS: 
Bitcoin is still trading within the scope of a flat market, with a faint bullish tendency. The support is at 3976. The resistance is at 4110 (the range set by the upper Bollinger Band).
 
Н4: The local ADX is weak. It hints that the probability of a further flat market is high, probably within 35-dollar range between 3996 and 4028 dollars per coin (Bollinger Bands).
 

 

Н1: The intraday picture looks flat as well, without any signs of tendency change. the daily forecast is a flat market within the 3995-4019 range.
 

Expectations: a flat market within the 3995-4019 range.
Trading decisions: trading within the 3995-4019 range.

 

You are free to discuss this article here:   forum for traders and investors

 

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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