Hold on to your seats, folks! Bitcoin (BTC) is back with a vengeance, soaring past the $30 000 mark on April 11th, reaching its highest point since June 2022. And it's not just BTC - Ethereum (ETH) is also making gains, trading at $1917 and bagging 3.1% gains...
Tag - cryptocurrencies
Hey, have you heard about the latest news on de-dollarization? It's the process of shifting away from the US Dollar (USD) as the world's reserve currency for trading...
Forex, Crypto, Metals, and Stocks News for March 29. Here’s what you need to know for today:
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
This year started with a beautiful bullish price action from the crypto markets. However, the current bearish movement is already causing many investors and traders to panic is interesting.
Following the September 2021 cryptocurrency ban by the Chinese government, it was gathered that some economists urged the government to reconsider crypto trading and mining favorably. One such person is Huang Yiping, an economics professor and former adviser to the Chinese Central Bank. We are now beginning to see a more lenient approach toward crypto investors in Asia, leading to what many are tagging as the next bull run. The question remains, is the Chinese crypto narrative bullish for mainstream cryptos?
The crypto space has seen considerable movement since the beginning of 2023, creating what some analysts call a "crypto bull run." Even though most crypto coins eligible for a massive 'bull-run' are typical 'meme coins,' there may still be some exciting opportunities for mainstream traders to seize.
Recently, on the 16th of January, 2023, Thailand Securities Exchange Commission issued fresh rules in its continued efforts to protect investors' assets and build confidence in the crypto space. It comes right after Bitcoin surged above $20k. However, is this enough to kickstart a full recovery for crypto coins?
Yesterday, the release of the US Inflation rate came out lower than the forecasts (0.1% vs. 0.3%). The soft figures pulled the US dollar index down by almost 1%. At the same time, S&P500, EURUSD, and gold strengthened. Today, the Fed will hold a meeting at 21:00 GMT+3. The Federal Reserve is widely expected to raise the interest rate by 50 basis points.
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
Goldman Sachs turns bullish on China, news from ECB, and Twitter's drama - everything you need to know in one place!