The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
Bitcoin is near dramatic lows
Cryptocurrencies are depreciating because of several reasons. First of all, there is no positive news on the market. The regulation becomes tougher. More social networks ban cryptocurrency adds. LinkedIn joined a group of Facebook, Google, and Twitter. Cryptocurrency exchanges have to close. Only this week the information about the closing of two exchanges in Japan appeared. More shutdowns are anticipated. Secondly, the users’ interest has significantly declined. The benefit from mining is reducing as more mining companies appear.
Bitcoin is showing dramatic lows again. Today the cryptocurrency plunged to $6,600 but managed to brace energies and climbed to $7,000. Experts predict the fall to $6,000. However, there is a high possibility that bitcoin will rocket after.
The pound is highly volatile after a Brexit referendum. Have a look what other factors affect the UK currency. And get clues on future movements of GBP.
This is Forex trading plan for Thursday, May 24…
It seems like the rally of the greenback has ended. On Monday, the US dollar index tested levels near $94, however, closed below $93.50.