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 stands still, fluctuating within medium-term band
On Thursday, crypto assets generally traded sideways.
As a matter of fact, the currency pair BTC/USD concluded the trading session at $3,656.70, heading north by 0.9% on the Kraken crypto exchange. Since this time, the number one digital coin has fluctuated within the $3,575-$3,675 band.
A Twitter user named Crypto Don revealed that a number of lower maximums has kept the most popular crypto asset at the bottom of its band, although until support at $3,380 breaks, Crypto Don actually expects the medium-term band of $3,380-$3,700 to hold.
The user stressed that the lack of direction has been the fact keeping him on the sidelines. He added that he’s reluctant to trade in the given trading band.
On Thursday, New York-based Grayscale Investments uncovered it has managed to launch its 10th investment vehicle, dubbed the Grayscale Stellar Lumens Trust. Apparently, the trust would provide traders with exposure to XLM, which appears to be the currency running on the Stellar network that turns out to be the sixth largest crypto asset by market capitalization, as follows from data provided by CoinMarketCap.
Stellar appears to be an open-sourced payment protocol often employed for facilitating cross-border transactions.
Now let’s have a closer look at futures and altcoins. In general, altcoins demonstrated mixed outcomes in Thursday trading. Eventually, the currency pair ETH/USD went down by 0.2% coming up with an outcome of $121.91. As for LTC/USD, this crypto pair headed south by about 0.8% trading at $31.03. Furthermore, BCH/USD jumped by 1.5% trading at $129.10. The currency pair XRP/USD gained 0.6% showing 33 cents.
On Thursday, Bitcoin futures surged. February delivery Cboe Global Markets futures XBTG9 headed north by 0.2% hitting $3,595. Besides this, February delivery CME Group futures BTCG9 surged by up to 1.6% showing $3,600.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.