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!
Weekly Cryptonews
Brian Kelly, chief executive of investment management firm BKCM:
Bitcoin is ... digital gold. And, in my opinion, it’s probably a lot better than gold, but there is no trusted third party involved, and that’s the huge difference.
This week was super optimistic for Bitcoin bulls. Many positive events in the crypto market, including the announcement of Facebook’s crypto project Libra, pushed the digital asset higher. At the moment, it is looking forward to the breakout of the $9,800 level on the daily chart. If it happens, the next resistance will lie at $10,700. As far as it is broken, the further rise may be limited by the $11,420-$11,777 levels. From the downside, we need to pay attention to the $8,940, $8,664 and $7,970 levels. Awesome oscillator is moving upwards, which is a good signal of the possible further rise.
Regulations:
· The South Korean crypto regulator promised to pay damages to users in case of hackers’ attacks or system lags.
· The Brazilian authorities obligated local and international crypto exchange platforms to share almost all of the users’ transactions.
Crypto announces:
· The Ethereum developer Justin Drake announced that the switch to Ethereum 2.0 was planned to start on January 3, 2020.
· On Tuesday, Facebook's crypto project Libra was presented. Mark Zuckerberg introduced a new website, where you can find the white paper of a project. After the critics by different governments, the developers noted that the project would share with authorities the users' data. Also, Libra Investment token was introduced. The launch of Facebook's cryptocurrency is expected next year.
· Litecoin Foundation together with Bibox exchange platform and Ternio startup will release a debit crypto card.
· CEO of TRON announced the update of the network to the new version called Odyssey 3.6, to increase the protection and the possibility of dApps creation.
New developments:
· 100 of leading Japanese producers, including Mitsubishi Electric and Yaskawa Electric, agreed to launch a collaborative blockchain system for the data exchange.
· The IT department of Samsung launches products for using blockchain in different types of business.
· Firefox developers detected and eliminated the vulnerability which could be used for stealing crypto. It’s recommended to update the browser to the latest version.
· The leading international consulting company PwC launched the Halo instrument for providing guarantee services in crypto payments.
· Japanese messenger LINE can get a resolution to create its own crypto exchange platform soon.
Current prices (last update 15:16 MT time):
Bitcoin $9,835
DASH $165.78
Ethereum $233.05
Litecoin: $138.94
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
Gold Rises as Central Banks Buy More
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.
US Evades Default This Time
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
USD Gains Momentum
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
