
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Christopher Giancarlo, chairman of the Commodity futures trading commission (CFTC): “I personally think that cryptocurrencies are here to stay. I think there is a future for them. I’m not sure they ever come to rival the dollar or other hard currencies, but there’s a whole section of the world that really is hungry for functioning currencies that they can’t find in their local currencies. There’s 140 countries in the world, every one of them has a currency. Probably two-thirds are not worth the polymer or the paper they’re written on, and those parts of the world rely on hard currencies. Bitcoin [or another] cryptocurrency may solve some of the problems.”
On Monday Bitcoin gained a little testing the resistance at $6610 (50-day MA). However, the price did not manage to hold this level on Tuesday and Wednesday and fell down to the support at $6350. Thursday was bullish for BTC/USD as it came back to the resistance at $6574. Up to now, BTC/USD is trading in the red zone. The support is at $6350. In case of positive news, the resistance is at $6574. The next resistance is at $6610.
Bitcoin $6,574.0 (-0.64%)
DASH $180.62 (-0.76%)
Ethereum $221.25 (+6.51%)
Litecoin: $57.520 (-1.35%)
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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.
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
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