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Sunday, 9 August 18:19 (GMT -05:00)



Foreign exchange market

Bitcoin Reaches $9500. Will It Drive Crypto Market Rally?


The BTC exchange rate has finally broken free from from the narrowing price range and rallied above $9500 per coin. What's coming next? Will the coin test $10000? If so, will this test be successful?
 
Over the last couple of hours, the BTC exchange rate has been staying well above the $9500 threshold. This breakthrough took place after a slight increase in the trading volume seen on July 20th, 2020.
 
Today's growth, however, is likely to be of pure technical nature. As we know, the BTC exchange rate has been strengthening slowly but surely within a pretty tight price range. This has indeed been going on since the start of June.
 

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Space for further BTC growth?
 
The EU leaders seem to have reached some agreements after discussing the current situation for quite a while. THose agreements are all about the financial stimuli to the amount of 857 billion dollars. When coupled with the expectations of further quantitative easing coming from the U.S. Federal Reserve, can it may international investors more convinced that BTC will break ans consolidate above the $10000 threshold? Some crypto experts, including Tyler Winklevoss, say that the Fed has been laying the foundation for another BTC boom.
 
In the meantime, silver started the trading week with a strong rally. Silver overcame the 20-dollar threshold, which used to be a major level of resistance for a couple of years. After that, the price rallied all the way up to 23 dollars per ounce. At this point, the price has retraced a bit and is currently trading close to $22,5 per ounce. At the moment, the this is a 19,25% rally in a week. So, this is the highest price level in 7 years. 
 
As for gold, it has been close to historical highs for a while. It's currently trading around $1874 per ounce. This is a 29% increase relative to March's levels. Apparently, the pandemic contributed greatly to this rally.
 

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Since Bitcoin closed at 9502 dollars per coin, international investors will likely be watching the market to see if the price can overcome 9778 dollars per coin. If that's the case, the price may reach $9900-$10000 per coin in the coming days.
 
According to CoinMarketCap, the total market cap of the cryptocurrency market is over 284 billion dollars, with Bitcoin dominating the market with 61,6%.

 

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Ethereum and Bitcoin Are Close To 5-Month and 1-Month Highs Respectively

After going out of the triangle in the first half of the trading week, Bitcoin started growing faster on Tuesday and Wednesday, thus gaining over 4% in 2 days and testing 9573 dollars per coin, the highest level in 4 weeks. Still, Thursday's session brought a modest correction down and a move back to 9500 dollars per coin and below. In the broad market of cryptocurrencies, Ethereum is the best performer. It has already gained over 7% over the last 24 hours and is currently testing 270 dollars per coin.
Publication date: 26 July 10:08 AM

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Publication date: 23 July 09:57 PM

Japan Will Include CBDC In Its Official Economic Plan

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Publication date: 20 July 02:53 AM

World's Biggest Crypto Scams

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Publication date: 17 July 09:14 AM

Digital Yuan Threatens Dollar, Matthew Graham

Matthew Graham, a China banking investment veteran and CEO of Sino Global Capital headquartered in China, has analyzed what is so far known about the expected Chinese cryptocurrency. He thinks that the Chinese government sees the technology as something that can actually break the dollar dominance in the financial world.

Publication date: 07 July 06:34 AM

JPMorgan: Bitcoin Turned Into Asset and Survived March Crisis

JPMorgan Chase, one of the biggest banks in the United States and the entire world, analyzed the March crash of the cryptocurrency market and published a report on the results of this research. Bitcoin occupies the lion's share of the report. So, the analysts made the conclusion that the BTC market is getting mature, which is confirmed by a strong correlation with most stock markets.

Publication date: 25 June 11:54 AM

Investment Interest In Bitcoin Drops After Halving

Publication date: 21 June 11:33 AM

Ethereum Is Less Private Than Bitcoin

According to a group of Hungarian experts who decided to examine the Ethereum network, ETH transactions turn out to be less private than BTC transactions. The experts published the results of their research after studying a bunch of several, pretty specific functions of Ethereum. Those functions usually make it possible to track the financial flows in the network.

Publication date: 15 June 02:28 AM

COVID-19 Keeps Affecting Dollar

Right before the start of another trading week of June 2020, 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 June 15th - 20th. So, this is what those predictions look like:

Publication date: 14 June 10:55 AM

Goldman Sachs Discussed Cryptocurrencies

Publication date: 07 June 03:57 AM