The head of the Federal Reserve Jerome Powell will testify on the Semiannual Monetary Policy Report on Tuesday and Wednesday
Crypto assets go up as Gemini backs Bitcoin Cash
On Monday, the prices of key crypto assets managed to surge in Asia due to the fact a Winklevoss-backed crypto exchange is braced for trading Bitcoin Cash, while Venezuela told that it would trade crude via its digital coin.
As a matter of fact, Bitcoin managed to rally by up to 2.66% hitting $3,559. Ethereum surged by about 0.52% reaching $92.18 on the investing.com index.
As for XRP, on the Poloniex exchange, it ascended by up to 0.78% ending up with HK$3.0754. Meanwhile, Litecoin leapt by nearly 0.24% trading at $24.993 on the Bitifinex exchange.
As for Bitcoin Cash, this crypto asset managed to go up by 4.03% trading at $106.63 on the investing.com index.
Founded in 2015 by the Winklevoss brothers, Gemini told last Friday that the exchange would back the trading of Bitcoin ABC, Bitcoin Cash’s fork as soon as it gets approval from the New York State Department of Financial Services.
In addition to this, Gemini told that over the coming months it would evaluate the other fork of Bitcoin cash, Bitcoin SV. However, it needs to decide whether to back the trading of the token or withdrawal of it.
Aside from that, Venezuela will utilize the country’s crypto asset, Petro to sell crude in 2019, as follows from reports referring to President Nicholas Maduro’s statement in the state-run TV TeleSUR on Thursday. Well, the given move is expected to lower Venezuela’s dependence on the evergreen buck.
Maduro told that next year his country has a schedule for crude to be sold in Petros. Thus, the country’s government hopes to free Venezuela from a currency used by their foe.
Maduro’s speech arose after his meeting with his Russian leader Vladimir Putin in Moscow. By the way, Putin uncovered his intention to trade crude with the Chinese Yuan.
The United States will publish the non-farm employment change, also known as non-farm payrolls (NFP) at 15:30 MT time on February 7.
The level of non-manufacturing PMI for the United States by the Institute of Supply Management will be published at 17:00 MT time on February 5.
The Federal Open Market Committee will publish its meeting minutes on February 19, at 21:00 MT time.
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