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Monday, 20 May 16:44 (GMT -05:00)



Foreign exchange market

Bitcoin Has Easily Broken Above $10K, Setting New All-Time High


Overnight, Bitcoin set a new all-time high by exceeding a major psychological level – $10000! This unprecedented event took place on South Korean exchange Bithumb. For the first time in history, the BTC exchange rate reached 10223 USD/BTC. It was a sharp increase in the Asian demand for Bitcoin that backed this rally to the new all-time high. It’s interesting to note that Bitcoin has gained 18% over the last 48 hours!
 
South Korea and Japan has been driving the Bitcoin rally over the last couple of weeks. For instance, Bithumb saw its turnover more than double from 2 billion dollars all the way up to 4,6 billion dollars over the reporting period. Experts say that the current Bitcoin boom started after the FSE, the local financial regulator, announced that they weren’t going to regulate the market of digital currencies and shortly after that Shinhan, South Korea’s second-biggest commercial bank, started testing Bitcoin wallets and related services.
 
Something similar was seen in Japan in May 2017. Back then, the Japanese authorities legalized Bitcoin as a payment means. Japanese banks started accepting Bitcoin for bank deposits. At the same time, there are rumors (supposedly insider info) that the so-called Chinese family office started loading up on Bitcoin in the second part of November. This means that Chinese capital is flowing away to Japan and South Korea since the Chinese market of cryptocurrencies is still unregulated and even banned to some extent.

 

At the same time, NordFX experts report that as opposed to the global derivatives market (639 trillion dollars), Bitcoin’s market cap is miserable, which means that even a tiny drop from this sea can make Bitcoin skyrocket. The experts don’t deny a rally up to $20K in 2018, and even $50-100K if major institutional investors come into play as well.

 

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Forex and Cryptocurrency Forecast by NordFX. May 20-24, 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 May 20, 2019.


Publication date: 20 May 03:50 AM

U.S. Sanction Trap For Russian Rouble

It's not a secret that the amount of sanctions against Russia has been growing over the last few years. At the same time, experts are losing faith in the stability of the Russian Rouble. Washington is discussing more and more variants to impose even more sanctions on Russia to undermine its economy and national currency.

Publication date: 18 May 03:25 PM

Facebook articles contest from FortFS

FortFS offers you to show off your writing skills and compete with other traders for a prize fund of 1000 USD, which will be distributed among the authors of the most interesting articles about our company!

Publication date: 18 May 12:24 AM

BTC Market Will Set New Highs In 2020

Tom Lee, Chief Analyst for Fundstrat Global Advisors, has recently shared his optimistic view on the future of Bitcoin (BTC). In early May, he said that the BTC exchange rate is undervalued and, given some fundamental factors, it should be somewhere around 14K dollars per coin. At this point, he thinks that the current all-time highs may well be renewed this year. This means BTC prices above $20K per coin and market cap well over 830 billion dollars within the next 20 months.

 

Publication date: 15 May 10:05 AM

U.S. Unemployment Rate Drops To Nearly 50-Year Low

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Publication date: 13 May 11:22 AM

Six main components of Alpha Bonus from FortFS

From 06 of May till 07 of June 2019 become the owner of a unique artifact called Alpha Bonus and subdue the financial element!


Publication date: 13 May 01:40 AM

Bitcoin Reaches 5-Month High

The cryptocurrency has been maintaining a stable bullish trend. over the last few days, the market cap has exceeded 185 billion dollars. According to CoinMarketCap, the market cap used to be 179 billion dollars on Tuesday. Over the last few days, the cost of all the cryptocurrencies circulating in the global market has grow considerably. 

 
Publication date: 27 April 10:24 AM

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?

Publication date: 17 April 10:42 AM

NordFX Shares Another Forex and Cryptocurrency Forecast for Mid-April 2019

The balance of powers in the international currency market (also known as forex) influences many contemporary tendencies in the entire world. At the same time, traders and investors rely on accurate forex forecasts to earn money. That is why we keep on publishing those weekly consensus forecasts, courtesy of NordFX.
Publication date: 15 April 10:54 AM

Weekly Forex and Crypto Prediction by NordFX. Mid-April 2019

Any exchange rate between any two currencies is the result of multiple factors affecting the currency pair at any given moment. At the same time, those exchange rates themselves are actually capable of affecting other processes important to specific countries and even the entire world.

Publication date: 09 April 11:01 AM