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Wednesday, 24 July 22:24 (GMT -05:00)



Foreign exchange market

Bitcoin Reached $11K and Dropped by $2K Instantly


On November 29th, Bitcoin beat another threshold. This time, the world’s largest cryptocurrency exceeded the $10K threshold and set another all-time high at 11377 USD/BTC, only to crash by 20% at a time down to 9290 USD/BTC, Coindesk reports. All of that happened within a couple of hours.
It's also interesting to note that after beating 10000 USD/BTC, it took Bitcoin just 24 hours to bet another psychological level, which is 11000 USD/BTC. A couple of hours after peaking at 11377 USD/BTC (this is a new all-time high), Bitcoin crashed down to 9290 USD/BTC. Later on, the cryptocurrency did actually manage to win back some of the lost ground and go above 10000 USD/BTC, NordFX reports.

 
In 2017 alone, BItcoin has already gained 1000%, the entire cryptocurrency market has gained 1700%. Thetotalmarketcapisnow $334 billion
So, Bitcoin has recently shown the trait that has been scaring away many of those big-scale investors. Specifically, we are talking about volatility. Indeed, cryptocurrencies in general and Bitcoin in particular have always been rather volatile, with a constant roller-coaster thing.
 
However, Jeff Curry, global head of commodity research for Goldman Sachs, thinks that is a natural process for relatively young assets. Today’s Bitcoin market cap is $160-170 billion. On the one hand, that’s quite a lot. But on the other hand, these figures cannot be compared even close to the ones of gold. The gold market cap is $8300 bn. The point is, gold has been a reliable investment asset for centuries while digital currencies are babies with a couple of years of history. If digital currencies survive and last for decades, they may see their market cap boost and their volatility decline.  
 

At the same time, The Wall Street Journal reports that NASDAQ is planning to launch Bitcoin futures in the first part of 2018. Cantor Fitzgerald is also planning to launch their BTC derivatives. They say, Bitcoin derivatives would be a huge step to making digital currencies more mature. By the way, the BTC transaction volume has already exceeded 2 billion dollars a day.

 

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1 Million Dollars For Bitcoin - John McAfee Confirms The Forecast

If someone has been enjoying the BTC rally going on sine early April, today you are probably not that exited about the market conditions since the bears seem to be getting stronger. The BTC exchange rate has dropped and is not trading around $10000 per coin, Market Leader reports.

Publication date: 19 July 04:07 AM

NYSE Launches Slack Technologies' IPO

Publication date: 22 June 05:58 AM

Masterforex-V Names 135 Most Popular Forex Brokers 2019

When trying to increase the amount of new clients, many brokers start massive ad campaigns online. Most of the time, you can see or hear those brokers call themselves the leading players in the industry, the best of the best, which is obviously not true because all of them cannot be as good as they claim to be. This actually makes it really difficult for the common trader or investor to make up their mind when choosing the next broker to go with.

Publication date: 12 June 08:22 PM

NordFX Products and Services Praised at the Philippines Traders' Fair

  The brokerage company NordFX took part in the specialized Forex Traders' Fair-2019 which was held in the capital of the Philippines, Manila, at the end of May.

 

Publication date: 01 June 05:52 AM

Central Banks Cut Down On Their Dollar Reserves

Central banks all over the world are loading up on euros, yuans, and yens while getting rid of their dollar reserves. The IMF's report for the 4th quarter of 2018 confirms that. They say this has to do with the redistribution of currency reserves in the Russian Federation.

Publication date: 31 May 12:59 PM

Forex Forecast and Cryptocurrencies Forecast for May 27 - 31, 2019

Complaints and sometimes even moans have been heard everywhere in the last months about the low volatility of this pair. The same is true about last week, until the second half of Thursday, the maximum range of its fluctuations did not exceed 45 points.

Publication date: 27 May 04:51 AM

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