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Wednesday, 27 May 00:22 (GMT -05:00)



Foreign exchange market

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.
 
During his interview to the CNBC, he told the reporters that the bull cycle isn't over yet for Bitcoin, and that's why we are going to see new all-time highs set in December 2017 - Fundstrat Global Advisors 2018. mostly likely, this is going to happen in 2020, although this year is on the timeline of possible price records as well.
 
The expert says that the very fact that the bull market is still there is backed by 11 factors, including the fact that the BTC network has been recently getting increasingly active, even despite a relative low BTC exchange rate. Another on has to do with technical analysis - the exchange rate closed over SMA200 in April. On top of that, institutional investors have been getting increasingly active as well, which makes Bitcoin and other cryptocurrencies even more popular as an investment asset. 
 
At the same time, FortFS experts stick to another opinion, a fairly optimistic one though. They assume that the bear market is likely over now, but it's a good idea to wait for confirmation from tech indicators.  
 
Bitcoin gained 4,5% per day and over 12% over the last trading week , thus reflecting the overall trend in the crypto market.
 
Daily. An explicit bull market amid trending ADX leaves almost no chances to the bears. A move up by 300 dollars per coin is possible.

 

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Н4: Local ADX is going up, but hasn't reached the trend area yet. That said, traders still have a chance to join the rally around the psychological level of 6000 dollars per coin.
 

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Н1: The latest bars have massive tails, which indicates big-scale buyers. The local support is located at the middle Bollinger Band (6084). This is probably the best price the market can give you today to get in.
 

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Expectations and trading decisions: It's a good idea to wait for the price to touch 6084 and get in to expect a rally up to 6400-6500. The targets may be reached with the next couple of days.  

 

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

 

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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