This is the most important news in the Forex market today.
Bitcoin overleaps $11,000 – the first time since January
Over the weekend Bitcoin managed to break through the $11,000 level. That’s the first such an ascend since the end of January. The crypto asset’s price keeps gradually going up due to a wild sell-off in the beginning of the month.
On Sunday, it rallied to $11,279.18, which is its most impressive result since January 30.
On Monday, this popular cryptocurrency slumped below $11,000 being worth $10,789.
Bitcoin's price has been gradually edging up after a huge sell-off in early February that was caused by rumors of price manipulation in the market, worries as for tighter regulation as well as a hack on crypto exchange Coincheck, which was deprived of more than $500 million.
Bitcoin tacked on more than 80% since it had gone down to $5.947.40 on February 6.
In South Korea, which appears to be a major market for this crypto asset, there were concerns that a strict clampdown on crypto trading could finally come into effect. However, as fresh measures got implemented, it turned out that they were less severe than many people thought. What’s more they were even found positive in a certain way.
Some market experts told that it feels like Bitcoin’s price is going to rise again in rather a mind-blowing way. Perhaps, this upbeat suggestion has also helped to have worries of tighter regulation soothed.
Bullishness happens to be getting back to the crypto markets. Both Ethereum and Ripple came off their minimums observed earlier this month.
The first key Wall Street strategist to cover Bitcoin, Tom Lee suggested that bitcoin will most probably go up to $25,000 in 2018. A market expert of Saxo Bank who correctly foresaw the crypto asset’s leap in the beginning of 2017, Kay Van-Petersen told reporters that Bitcoin could jump to $100,000.
During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…