What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
Bitcoin is approaching $10,000 mark
Bitcoin is currently climbing up towards the mark $10,000 right after a series of abrupt dips throughout the beginning of 2018, when it lost nearly half of its market value.
The cryptocurrency’s price gained 2.13% at the time of writing being worth $9,680.18, although earlier in the day it went up to $9,961, as follows from Coindesk's aggregate index.
As some financial analysts point out recent price action has appeared to be a sort of bullish.
Bitcoin has managed to overleap a major short-term resistance zone in the band of $9,000-$9,250. The given area has become the asset’s support. Well, as long as bitcoin’s price hovers over this area the short-term tendency would still be bullish, financial experts explained.
There’s such a point of view in the market that going up above $10,000 level would appear to be a considerable milestone for the crypto asset. There’s no doubt it would mark the end of the recent sell-off.
A break back above a crucial psychological level, and a mark, which only a couple of weeks ago was considered to a crucial support zone – might point to an end to the sell-off in this most popular digital asset, and also among other cryptocurrencies. It feels like another more impressive ascend will take place soon.
In November 2017, Bitcoin first overleapt the $10,000 mark. However, a bit later, already in December the leading cryptocurrency grasped its all-time enormous peak of almost $20,000.
Besides this, experts reminded of Bitcoin's unpredictable nature. They emphasized that the $10,000 mark could stand for the beginning of another round of selling. They added whether it takes place or not might depend on whether we are able to face a period of minor dismal news flow, including January offering an unstoppable stream of it that put pressure on digital assets.
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!