Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
Bitcoin heads north above $3,500
On Tuesday, crypto assets managed to leap due to the fact that Bitcoin inched up to $3,500, still demonstrating an enormous gap between last year’s mind-blowing reading of $20,000.
Eventually, Bitcoin shot up by up to 3.5% demonstrating $3,539.60 on the Investing.com Index.
Bitcoin is still down almost 75% since its all-time maximum of 2017. Crypto assets have slumped drastically for recent weeks because investors are concerned about increased regulatory scrutiny as well as volatility.
In general, digital coins surged. The overall cryptocurrency market capitalization amounted to $112 billion at the time of writing, versus Monday’s outcome of $108 billion.
Besides this, Ethereum managed to gain about 5% ending up with $94.66. Litecoin was worth $29.20, jumping by up to 3.9%. Additionally, XRP ascended by up to 12% trading at $0.33607.
Notwithstanding a long-term dive in crypto assets, blockchain is still thriving. Accordingly, job opportunities in the sector keep booming. Compared with 2017, up to 33% more jobs have been posted this year.
As the report states, it’s no wonder that we’re observing an explosion of machine learning roles as well as continuing surge of data science roles. There’s nothing surprising in the fact that Blockchain Developer is topping the list after this year’s leap in interest around blockchain and digital coins.
Meanwhile, China is working on its own crypto asset. Since 2016, China’s main financial institution has officially registered up to 78 virtual currency patents, as Bloomberg informed. The major bank of this Asian country has also been hiring economists and developers for its Digital Currency Institute that was established to issue a blockchain-based asset. The Chinese cabinet is also eager to not only monitor transactions of its citizens, but it also makes financial institutions share data on their borrowers before authorizing any transactions.
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.