The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Bitcoin goes up versus red market
On Friday, versus all odds, Bitcoin proceeded with its surge in Asia and the cryptocurrency market generally stayed in the red.
As a matter of fact, Bitcoin surged by up to 3.95% ending up with $6,311.6 having hit the major $6,000 mark yesterday. It appears to be the strongest momentum the number one crypto asset garnered since the beginning of 2019.
As for other crypto assets, they headed south. Eventually, Ethereum decreased by about 0.17% ending up with $171.18. As for XRP, it slumped by 2.24% reaching $0.29385. Additionally, Litecoin decreased by 2.48% showing $73.415.
However, due to Bitcoin, the overall market capitalization managed to tack on to $190.4 billion from yesterday’s outcome of $188.7 billion.
Additionally, Facebook was still in focus among the crypto investors. It has been recently informed that Facebook could come up with its own crypto asset already next quarter.
The newswire actually referred to an anonymous source, telling that in Facebook’s team responsible for the blockchain project, approximately one fifth of the members is utilized to work at PayPal. Moreover, it added that it signifies the social media giant’s ambition to have payments integrated into its platform.
As follows from that report, the social media giant is actually testing regular payments via a product dubbed WhatsApp Pay.
In addition to this, Facebook is already working on its own stablecoin pegged to the evergreen buck. The social media giant is told to be in talks with financial businesses as well as e-commerce players, including MasterCard and Visa.
Facebook’s attitude towards crypto assets has receded lately. Facebook announced On Thursday, it told it would soften its advertising ban on businesses promoting services and products having to do with crypto assets.
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.