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Bitcoin reached another all-time high this week. This time BTC/USD rose above $8,000 for the first time ever. However, the quotes visited this milestone only briefly. In addition, the record high was registered only at one bitcoin exchange – Bitfinex.
Bitcoin has been extremely volatile recently. Digital asset fell to $5,426 on November 13 and then rose up to $8000. The cryptocurrency declined as demand for bitcoin’s fork called bitcoin cash (BCH) soared over the weekend. Bitcoin Classic took a blow on the news that SegWit2x, bitcoin’s hard fork planned for November 16 and aimed at increasing the transaction speeds, was canceled. By the end of the week, the situation changed: BCH descended, while BTC went up by 45%.
The key issue – the regulation of the cryptocurrency market – remains unresolved. The world’s largest derivatives exchange operator CME Group announced last month its plans to launch bitcoin futures by the end of 2017. The head of CME Terry Duffy said that these futures would take into consideration bitcoin’s volatility.
Data from Coinmarketcap.com show that the overall capitalization of bitcoin market rose to $133.5 billion.
Sheba Jafari, the vice president of the Goldman Sachs FICC market strategies team, expects bitcoin’s value to consolidate around $8,000.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
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 Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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