January 15 is when CHF was unpegged from EUR in 2015. What happened on the Forex market on that day?
Steve Wozniak, Apple co-founder: “I’m not sure that I can buy that we’ve seen massive value destruction but I think we’ve seen massive value creation… psychology will often drive markets… I never invested [in Bitcoin] as an investor, I only had Bitcoin to experiment with and find out how to buy and sell things around the world, and find restaurants that accept Bitcoin.”
“What goes up must come down and that which pumps must eventually dump.” Last Sunday the price for Bitcoin bounced from the $4,250 level and fell downwards to the December’s support at $3.808. Bears tried to pull the digital currency lower on Wednesday, testing the ground below the 100-day SMA, but their attempt was unsuccessful. If they gain strength, the support at $3,808 will be broken and we will see a further fall towards the next one at $3,731. On the other hand, if Bitcoin continues its steady recovery, its price will face the first resistance at $3,960 and target the next level at $4,078. ADX shows bulls dominating in the market, but their pressure is weakening.
- Reportedly, Russia plans to launch its own cryptocurrency backed by oil.
- Bahrain became the first Arabic country with full Bitcoin regulation. According to its central bank, a country is a safe place for crypto assets businesses now.
- Thai Security and Exchange Commission (SEC) approved ETC, LTC, BCH for ICOs and trading.
- Constantinople and St. Petersburg updates were successfully activated in the Ethereum network yesterday. According to EtherNodes data, 26.2% of users switched to the new client.
- Cryptowallet of the new Samsung S10 will support BTC, ETH currencies and ENJ and BAT tokens.
- The biggest Swiss bank Julius Baer announced its plans to provide cryptocurrency services to their clients.
- Sony and Fujitsu companies developed a blockchain system for assessing the level of knowledge of foreign students in Japan.
- Facebook consults with crypto exchange platforms about the listing of its own stable coin for WhatsApp.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.