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Saturday, 24 February 13:41 (GMT -05:00)

Foreign exchange market

Bitcoin Exchange Rate Retraces Before Another Rally, Expert Says

These days, new financial assets are being added to the list of forex assets. Those are highly volatile assets like cryptocurrencies, for example. Cryptocurrencies have been getting increasingly popular with international forex traders. This holds especially true for Bitcoin, which is the world’s first and most popular digital currency.





Bitcoin was launched in late 2008 – early 2009. Since then, this cryptocurrency has come a really long way from $0,03 per 10 000 BTC all the way up to almost $5000 per 1 BTC. To be more specific, the current all-time high is $4960 per 1 BTC. If we take a closer look at the Bitcoin price chart, we will be able to see a picture typical of financial pyramids. This is probably the reason why big-scale investors preferred to stay away from the cryptocurrency market up until recently. As more and more investors got interested in the currency, this naturally pushed the BTC exchange rate higher and higher, Igor Zotov explained. For those of you who don’t know, Igor is one of the most prominent traders from Masterforex-V Academy and the author of the legendary technical indicator called АО_Zotik.


At this point, some brokers and dealing centers allow their traders to trade cryptocurrencies or even choose one of them as the base currency for their trading accounts. With some of them, you can even trade digital currencies via MetaTrader 4, the most popular forex trading software to date.


Let’s take a closer look at this new type of assets through the lens of the trading strategy based on АО_zotik and WPR_vsmark. This is a kind of a modified version of the Masterforex-V trading strategy. The question is, what to expect in the market of Bitcoin within the next 2-3 weeks?


To start with, let’s take a look at the D1 chart. This is the time frame that helps us spot bigger (monthly) price cycles according to the “early prediction system”, courtesy of Masterforex-V Academy. When looking at the D1 chart, we can clearly see a retracement against the previous strong rally. Inside of this bearish correction, we can clearly see wave A (a wave down) inside of another “ABC” wave pattern along the downward move. For now, this “ABC” pattern is still a retracement pattern (the situation may change further down the road). As you probably know, if this is a retracement (correction), it’s always followed by a new move along the existing trend. We can treat this move in a different way – as a 5-wave pattern – which still doesn’t contradict the previous statement since wave 4 is also a retracement of a smaller scale.


As a result, we get either a correction inside of another correction or wave B (correction) – all of that is for the upward move. Depending on how exactly the mentioned B wave develops, we will be able to project the rest of the ABC pattern, with possible deviation. In order to go into detail while examining wave B, we have to go down to the H4 time frame, which can be seen as the time frame revealing the weekly picture.


Inside of this upward wave B on the H4 chart, we can see another bearish retracement (correction) developing. This can be treated as either wave B(C) or wave 4 depending on which approach to counting waves you prefer. Why? Well, that’s a good question since most conventional experts say that no correction can be a 5-wave structure, but this is a non-conventional approach to analyzing waves.
Anyway, what to expect for the rest of October? As for Bitcoin, if to analyze it the Masterforex-V way, we need to wait for the retracement to end and look for an entry to capture a new rally, probably wave C of wave level H4. Basically, we go bullish, we trade upward rebounds. Still, we need to keep in mind that all of the potential rally may actually be a just a part of a bigger-scale upward correction (wave B of level D1) against an even bigger downtrend. That’s why we need to minimize our profit goals.




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Bitcoin Exchange Rate Drops Below $9000

Earlier today, the BTC exchange rate continued its way down to new local lows. In particular, it temporarily dove below the psychological threshold of 9000 dollars per 1 BTC. According to Coinmarketcap, the current local low is 8720 USD/BTC.

Publication date: 02 February 03:41 AM

Skeptics Predict Bitcoin Crash

As the amount of Bitcoin users is growing like never before, the amount of Bitcoin skeptics is growing as well. They are warning us that Bitcoin is doomed to crash at some point in the future. There are respected investors among them, who think that the rapid growth of Bitcoin and other altcoins is dangerous to those investing in them.

Publication date: 26 January 03:51 AM

Muslims Are Forbidden to Trade and Mine Bitcoin

The Grand Mufti of Egypt Shawki Allam is reported to have issued the so-called fatwa (which means a ban on something) against cryptocurrencies. This means that Muslims can no longer trade or invest in Bitcoin or other cryptocurrencies. To be more specific, the Mufti thinks that trading cryptocurrencies is almost the same as gambling. Yet, gabling is strictly forbidden in Islam.

Publication date: 12 January 03:19 AM

Alpari’s Mobile App Gets Over 400K Users

Over the last few years, the amount of online traders using mobile apps has increased dramatically. The stats show that most of the time mobile forex traders choose mobile trading apps by Alpari, one of the biggest brokers in the international forex industry.

Publication date: 03 January 07:06 AM

Bitcoin Harms Natural Environment

 Today, only 1% of the global population is investing in cryptocurrencies.  However, mining those cryptocurrencies is something that all of us have to pay for. This is what Deutsche Welle thinks on the matter.

Publication date: 02 January 11:43 AM

Bitcoin May Trigger Another Major Financial Crisis

 Some experts say that Bitcoin and other cryptocurrencies may trigger another major financial crisis.

Publication date: 02 January 11:42 AM

Fort Financial Services ¬– World’s Best Forex Bonus Offer 2017

Masteforex-V Academy has recently announced the results of the annual contest named «World’s Best Forex Bonus Offer 2017». Fort Financial Services won the title as the forex broker occupying the first position in the corresponding rating by Masterforex-V Academy.

Publication date: 28 December 09:28 PM

Bitcoin Exchange Rate May Drop to Zero, Morgan Stanley Experts Say

Bitcoin may drop all the way down to zero dollars. This is what Morgan Stanley analysts led by James Faucette told Business Insider. Such a gloomy forecast for the world’s first and most expensive cryptocurrency to date showed up amid another major drop in its exchange rate. The thing is that Bitcoin dropped by 40% from 19K dollars all the way down to 11,8K dollars on December 22nd. 

Publication date: 26 December 12:21 PM

Bitcoin is Yet to Win Major Investors’ Trust

The first Bitcoin futures were finally launched in the USA. However, despite the fact that cryptocurrencies have already been recognized a part of the financial world, skeptics still don’t believe in them and anticipate a cryptocurrency market crash. 

Publication date: 25 December 05:49 AM

Alpari PAMM Service Gets Its Monthly Turnover Exceed $15 Billion

Most people prefer to keep their savings in a bank. They believe that despite those tiny interest rates they get paid, storing money in a bank account is way safer than anything else. The point is, we are talking about storing money while it’s wiser to invest money so that it could make even more money. For example, Europeans like to consider investing their money in various kinds of assets. They further spend their profits on some big purchases or education for their kids.

Publication date: 21 December 03:17 AM