Online Forex broker
Coming off the best trading marathon for crypto assets since late July, the world’s number one crypto currency, Bitcoin headed south on Monday.
The currency pair BTC/USD hit $6,630.80, slumping by 0.7%, rebounding from a late-Friday maximum of $6,808.
Crypto bulls cheered after the total market value of crypto assets has ascended by more than $20 billion for the last seven trading sessions, thus indicating a stop in a monthslong Bitcoin bear market that has diminished the price of the number one crypto asset by more than 50% this year.
Most notably Mike Novogratz, ex- Fortress Investment Group fund manager informed CNBC that the sky appears to be the limit. He also added that it’s unreal for Bitcoin not to hit $8,800-$10,000 by the end of 2018.
Nevertheless, a senior instructor at The Options Institute at Cboe Global Markets, Kevin Davitt was more cautious. He warned market participants that it’s not the first surge in 2018. It feels like that’s the start of a powerful jump for the crypto assets after months of pressure. Traders should wait to test the whole potential of the upcoming uptrend.
Having ascended as much as 75% on Friday, the currency pair XRP/USD, the crypto asset running on the Ripple protocol has decelerated, losing 7.8% on Monday, coming up with an outcome of 52 cents. As for other altcoins, which are the group of crypto assets other than Bitcoin, they managed to underperforme Bitcoin. Besides this, the currency pair ETH/USD went down by 2.2% being worth $236.00, Aside from that the currency pair BCH/USD inched down by 2.6% showing $472.00. The currency pair LTC/USD went down by 3.3% demonstrating $58.71.
October delivery contract XBTV of the Cboe Global Markets Group Inc declined by up to 1.6% trading at $6,620.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
