USD/CHF and EUR/CHF rose to tactical highs. What's next?
Digital coins head south
On Monday, digital coins slipped with no distinct driver. Meanwhile, the US cabinet returned stolen Bitcoin in one of the several rare examples of thieved crypto assets being recovered.
Evidently, Bitcoin slumped by about 8% concluding the trading session at $3,800.50 on the Investing.com Index. The number one digital coin gave up all the profits it had earned for the last week for several minutes.
In general, the overall market capitalization of crypto assets went down to $129 billion in contrast with Sunday’s reading of $142 billion.
As Ethereum, the number two digital coin, its market value went down by 17% coming up with a result of $137.51. XRP tumbled by 10% ending up with $0.3008. Besides this, Litecoin hit $44.70, losing 16%.
American federal law agencies returned 27.7 Bitcoin, which were thieved from Bitfinex in August 2016. Up to 120,000 bitcoin, worth nearly $72 million, were thieved when the exchange was attacked by hackers.
Bitfinex told that the given amount in Bitcoin is going to be converted to cash and then distributed to up to 5,000 users affected by that hack.
The Bitfinex hack turned out to be one of numerous key thefts, such as Mt. Gox in 2014 as well as Coincheck in 2017, which contributed to investor fears about the security of crypto exchanges.
The previous year, about $950 million worth of crypto assets were thieved, as US-based cybersecurity company CipherTrace uncovered in January.
In addition to this, on Wednesday, South Korean exchange Coinbin that took over the hacked platform Youbit, came up with an application for bankruptcy. In fact, the company owns customers about $30 million. What’s more, it’s on the verge of going out of business because of money laundry by a senior executive.
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
Australia will publish the employment change and unemployment rate on February 18, at 02:30 MT time.
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.