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Wednesday, 22 November 04:36 (GMT -05:00)



Stock and commodities markets

Cryptocurrency Market Cap Goes Above $200 Billion


Last week, the cryptocurrency market capitalization exceeded the $200 billion threshold for the first time in history. According to Coinmarketcap, a resource monitoring 1254 digital currencies on 6400 online exchanges, Bitcoin was the biggest market driver of the market-cap rally. The thing is that Bitcoin gained more than 25% last week by setting another all-time high at 7300 USD/BTC, with $124 billion of market cap.

 

For the sake of comparison, in early 2017, Bitcoin was under 1000 USD/BTC, NordFX analysts report.

 

курс биткойна

 

How long will the Bitcoin rally last and how high the BTC value will go?

 

According to Ronnie Moas, CEO of Standpoint Research, Bitcoin will reach $11000 in 2018, $20K in 3 years and $50K in 10 years. It should be noted that Mr. Moas is often referred to as an optimistic analyst. However, most of his predictions do become true.

 

For example, in July 2017, when Bitcoin cost under 3000 USD/BTC, he predicted its growth up to $5000. This is exactly what happened in September 2017. In August, he predicted a rally up to 7500 USD/BTC. At this point, the price is somewhere around and may reach the expected level in a couple of weeks or even days.

 

Every day, more and more editions start mentioning Bitcoin in their headlines. More and more countries are putting up with Bitcoin and accepting it, the experts says. He claims that only 0,5% of the world population are investing in Bitcoin these days but the number is definitely going to grow in the near future, pushing the price even higher.

 

According to Lloyd Blankfein, CEO and Chairman of Goldman Sachs, cryptocurrencies can really make serious rival to conventional currencies over time. During his speech at Sustainable Finance Innovation Forum, the head of a major investment bank (one of the world’s biggest ones actually) confessed that he feels slightly uncomfortable when it comes to digital currencies. However, he felt so about each and every new technology out there, including the invention of mobile phones.

 

 

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Saudi Arabia Doesn’t Want Oil Prices to Grow Too Fast

Reuters reports that Saudi Arabia doesn’t want oil prices to grow too fast. This is what Minister of Energy, Industry and Mineral Resources of Saudi Arabia Khalid A. Al-Falih told during his speech at the UN Climate Change Conference 2017 in Bonn, Germany.

Publication date: 19 November 08:58 AM

What’s the Fair Price of Crude Oil Today?

For many economies out there, especially those dependent on the export of crude oil, oil prices have always been a major indicator to monitor. These days, the international expert community is divided over the future of the global oil market. 

Publication date: 18 November 09:36 AM

Crude Oil Stops Being a Lifeline for the Russian Ruble

 The U.S. Dollar is getting more expensive against the Russian Ruble again as the Russian currency is feeling pressure from the new round of the Western sanctions. Crude oil seems to have stop saving the day for the Russian economy and national currency.

Publication date: 18 November 09:33 AM

Oil Market Shows No Reaction To Optimistic OPEC Report

Oil market showed almost no reaction to the annual OPEC oil report released on November 13th, even though the report happened to be fairly optimistic. In particular, while WTI oil futures for December delivery increased in price by as little as 0,11% up to $56,80/b, Brent oil futures for January delivery lost 0.09% and moved down to $63,46/b.

Publication date: 18 November 09:26 AM

Russia Is Still Dependent On Crude Oil

Is the Russian economy getting rid of its dependency on crude oil? Even though Russian politicians say that’s really the case, famous Russian economist Igor Nikolaev tried to find out the truth backed by figures.

Publication date: 17 November 11:52 AM

High Oil Prices Threaten OPEC+

 Today’s oil prices, which are relatively high, as well as some tensions in Saudi Arabia, may hinder the prolongation of the OPEC+ agreement signed last year, PRIME reports.

Publication date: 17 November 11:49 AM

Oil Prices Won’t Exceed $75/b, BofA Experts Say

Even if the geopolitical situation is the most favorable for the global oil market, oil prices are still never going to exceed the $75/b threshold again, Bank of America Merrill Lynch (BofA) experts believe.

Publication date: 17 November 11:13 AM

Wall Street Banks Improve Their Oil Forecasts

For the first time in 6 months, Wall Street banks seem to be optimistic about the near future of crude oil, The Wall Street Journal reports.

Publication date: 10 November 07:06 AM

CME Group Announces Bitcoin Futures

CME Group, the world’s biggest operator of futures exchanges, has announced Bitcoin futures, the world’s first and most popular cryptocurrency to date. The information was first made public by The Financial Times.

Publication date: 10 November 01:08 AM

Bitcoin Sets New All-Time High At 7848 USD/BTC

Bitcoin, the world’s most popular cryptocurrency, has set another all-time high. The developers decided to abandon the idea of Segwit2x protocol. The news pushed the BTC exchange rate all the way up to $7848, Market Leader reports.

Publication date: 09 November 02:11 AM