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Wednesday, 27 May 01:36 (GMT -05:00)



Foreign exchange market

ETH's At Local Highs: What's In For Ethereum And ICO?


Ethereum is back in the game! It's currently trading around 5-month lows. Still, the market seems to be showing some confidence that the coin has already overcome its existential crisis and managed to recover from crisis that started after the ICO bubble burst in 2018. Will ETH and ICO revive?
 
For the first time since November 2018, the ETH exchange rate has exceeded 180 dollars per coin. The second most popular cryptocurrency is now trading around 188 dollars per coin. It's obvious that the technical image of Ethereum has improved considerably over the last few weeks. The price is heading for the levels that can pave the way to other highs if overcome, FortFS experts assume.
 

Magnificent Constantinople 

 

Since the coin used to trade around 80 dollars per coin, its value has increased by more than 100% since then, mosly due to the hard-fork named Constantinople introduced in February 2019. Constantinople did manage to back a number of improvements of the protocol.
 
However, the biggest change is all about resolving the network economy  issue. After the upgrades, the token was reduced from 3 ETH to 2 ETH. Back then, it was obvious that the change would definitely back a new rally in the ETH market. It results from the economy principles, namely the supply and demand ratio, which says that when the supply drops but the demand stays the same or grows, the price goes up accordingly. 
 
Yet, that's not the end. Serenity, which is also known as Ethereum 2.0, will implement the POS algorithm, which will make it 1000 of times more scalable when hard-forking it. If that's the case, Ethereum will become a perfect platform for smart contracts.
 
Buy or Not?
 
From the stand point of pure investments, Ethereum remains a good investment. Investing in ETH is basically investing in the future. With that being said, the log-term bias is clearly bullish. If that's the case, the Ethereum ICO is likely to go bullish as well.

 

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Forex and Cryptocurrencies Forecasts. End of May 2020.

Right before the start of the last trading week of May, 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. The period is May 25th - 29th. So, this is what those predictions look like:
Publication date: 24 May 01:41 PM

Only 4 Of All Existing Billionaires Made Their Fortunes With Cryptocurrencies

Publication date: 25 April 11:54 AM

Bitcoin Grows. EOS May Lead The Market Thanks To Blockchain

Bitcoin gained a good momentum along with the rest of the cryptocurrency market after good news from China. However, EOS may become the locomotive of the movement.

Publication date: 22 April 01:54 AM

DNB's Open For CBDC

De Nederlandsche Bank (DNB), the central bank of the Netherlands, is reported to be open for the CBDC of the ECB. CBDC stands for central bank digital currency. This was officially backed by a 45-page report released on April 21st. With that being said, DNB is ready to play one of the key roles in adopting digital currencies by the global banking system.

Publication date: 22 April 12:47 AM

Bad Economic Figures From USA. Wall Street Reacts.

This time, we are dealing with a peculiar situation. In particular, now that we are facing truly bad figures, the market reaches to them not the way we expected. When it comes to fighting the COVID-19 pandemic, there's almost no positive progress. That's is why international investors are now trying to find some good news in the economic field. Can we actually see some improvements?

Publication date: 02 April 04:04 AM

Dollar Regains Strength, NordFX Reports

Right before the start of another trading, 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. The period is March 30th - April 3rd. So, this is what those predictions look like:

Publication date: 01 April 02:15 PM

Binance and Cryptocurrency Exchange

These days, Binance is a a giant in the world of cryptocurrency exchange. It wont' be an exaggeration to say that this is a Microsoft or a Mercedes in the world of cryptocurrencies. This is a major brand and a symbol of security for those investing in Bitcoin and other digital currencies.

Publication date: 29 March 11:24 PM

Dollar Becomes Safe-Haven Asset Amid COVID-19 Pandemic

Publication date: 22 March 07:48 AM

Fed Cuts Interest Rates. What Does It Mean For Bitcoin?

Publication date: 17 March 12:14 AM

Fed Cuts Interest Rates Again Amid COVID-19 Pandemic

The U.S. Federal Reserve, which can be considered the world's most influencial central bank, has been really serious about the COVID-19 pandemic going on around the world. For the first time in the history of the Federal Reserve, the central bank has done it twice within a couple of weeks. This time, the key interest rate was cut by 100 basis points, which brought it very close to zero. To be more specific, during the recent urgent FOMC meeting that took place on Sunday, March 15th, the FOMC members almost unanimously decided to cut the interest rated from 1,00-1,25% all the way down to 0,00--,25%.

Publication date: 16 March 07:57 AM