Bitcoin: is it a buy now?

Bitcoin: is it a buy now?

Hot news about Bitcoin

We got bittersweet news for you. First, US officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline, which raised concerns over the security of the cryptocurrency. US officials were able to access the password for one of the hackers’ bitcoin wallets. What?! Is it possible? It turned out that yes, and the BTC has immediately lost one of its main advantages.

Just two months ago the Bitcoin has set an all-time record of almost $65,000. However, a recent sell-off in crypto prices has weakened confidence in it. Or not? Maybe it’s just a good opportunity to buy some bitcoins. Views of investors and analysts differ. Some believe the BTC will retest $20,000 such as Oanda and Evercore. Others are selling other assets to purchase more crypto. For example, MicroStrategy has sold $500 million in junk bonds to buy additional bitcoin.

Second, El Salvador adopted Bitcoin as a legal tender, which helped to recover some losses triggered by the first news. It’s hard to imagine right now, but if this experiment goes well, other countries can implement this practice as well.

Technical outlook

After a long fall, BTC/USD has entered the horizontal corridor between $33,000 and $40,000. It’s likely to move sideways inside this range for some time. When it manages to break above the resistance level of $40,000, it may jump to the 200-period moving average of $42,000 and then to the psychological mark of $45,000. On the flip side, if the BTC drops below the support of $33,000, the way down to January lows of $30,000 will be clear.


You can trade crypto only in the FBS Trader app. The screenshot of MetaTrader 5 above is used for the more complicated technical analysis. 




Markets Ahead of Fed Meeting
Markets Ahead of Fed Meeting

That day has come, guys! The Fed will hold a meeting at 21:00 GMT+3. It can be a highly impactful event. The markets expect the bank to hint about the timing of tapering. 

Key Market Driver: FOMC Statement
Key Market Driver: FOMC Statement

The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).

Latest news

Turkey has Decreased Interest Rates, But is it a Buy?
Turkey has Decreased Interest Rates, But is it a Buy?

Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.

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