Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Digital coins keep ascending
On Wednesday, Bitcoin along with other key crypto assets proceeded with their double-digit advance in Asia, although without a clear directional driver.
The cryptocurrency market capitalization jumped to $176 billion, pushing Bitcoin past $4,900.
As a matter of fact, Bitcoin jumped by nearly 16.79% being worth $4,919.6, hitting the highest value since November. On Wednesday, it briefly hit $5,000. Additionally,
Ethereum managed to gain about 17.91% showing $165.9. As for XRP, it inched up by nearly 12.45% trading at $0.35038. Litecoin went up by up to 26.73% reaching $79.402.
The crypto market has been quite calm since the beginning of 2019, with Bitcoin fluctuating between $3,000 and $4,000.
Currently, it’s unknown what really provoked a leap in crypto assets. However, it’s believed that the very news that the SEC had approved Bitcoin exchange-traded funds might be that reason.
In fact, the mind-blowing price movement has proven the fact that Bitcoin is extremely speculative. Some experts pointed out that the cryptocurrency market is still emotional.
Additionally, it was informed that the wild price movement could have been provoked by an anonymous trader’s order that was worth nearly $100 million spread across three cryptocurrency exchanges, in particular, Bitstamp, Kraken, and also Coinbase.
While market participants are still struggling to spot the driver for the price ascend, another pack of crucial news on regulation showed up.
The Malta Financial Services Authority has welcomed the first 14 cryptocurrency agents. Eventually, the approval arose five months after the implementation of the so-called Virtual Financial Assets Act, regulating the registration of whitepapers by issuers of VFA, VFA agents as well as VFA service providers.
Similar
The Fed won't miss these releases!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
USD and GBP Traders Await Big Moves
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Latest news
Inflation Is in Focus Again
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Fed’s Rate Pause and UK Inflation Slows
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
GBPUSD May Strengthen Resulting the Fed and The BOE Meetings
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
