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 tacks on 2%, although demand is still an issue
On Thursday, Bitcoin managed to rally, soaring by up to 2% and rebounding from the 3.5% Wednesday’s minimum.
During the morning trade the currency pair BTC/USD surged to $3,852.62, heading north by 2% on the Kraken cryptocurrency exchange. The number one digital coin managed to get to an intraday maximum of $3,915.51 that appears to be its highest value for the week.
As some experts pointed out, Bitcoin hasn’t managed to hold on to the previous week’s rebound above the psychologically important mark $4,000 and rebounded under this major level. If dip purchasers were awaiting to pounce on the given discounts, then they’d have done so by now.
The recent rebound that hasn’t managed to to stick happens to be an indication that demand is still a serious issue for the leading digital coin and nobody is coming to the rescue anytime in the nearer future.
Now let’s a closer look at altcoins as well as futures.
The vast majority of altcoins, which are crypto assets other than Bitcoin, managed to outperform Bitcoin on Thursday. As a matter of fact, the currency pair ETH/USD tacked on by up to 3.2% ending up with $135.08. As for LTC/USD, this currency pair ascended by about 3.7% concluding the trading session at $45.62. furthermore, the currency pair BCH/USD headed north by about 0.7% showing $129.30. XRP/USD rallied by approximately 2.4% being worth 31 cents.
Bitcoin futures are about to have a three-day dive snapped. March delivery Cboe Global Markets futures XBTJ9 rallied by 1.7% being worth $3,790, while March delivery CME Group futures BTCH9 managed to tack on by up to 2.2% trading at $3,790.
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?
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.
Every week we expect many interesting events that can shake the market.