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Sunday, 21 January 18:37 (GMT -05:00)



Foreign exchange market

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.

 

 

 

 
As for the mentioned forecast made by Morgan Stanley, they say that Bitcoin is still scarcely used as a payment means and is often seen as an investment. To be more specific, only 3 out of the world’s 500 biggest retailers accept Bitcoin. So, the expert says that if no one accepts Bitcoin, its value is inevitably going to crash all the way down to zero.

there is another factor playing against Bitcoin. The thing is that its daily market turnover is still relatively low, especially if compared to the forex market. To be more specific, the global turnover of Bitcoin is just 3 billion dollars a day while the forex one is over 5 trillion dollars and still counting. The same holds true for transactions. Daily Bitcoin transaction amount to just 300 million dollars while VISA processes 17 billion dollars in international transactions on a daily basis.
 
Mr. Faucette underlines that Bitcoin cannot be called a currency since there is no interest rate for it. IsBitcoindigitalgold? Well, we may call it like that but unlike gold Bitcoin cannot have any practical application in electronics or jewelry for example. So, it’s not clear why international experts are constantly trying to persuade us that Bitcoin has some real value.

Today, on December 26th, Coinmarketcap reports that Bitcoin has grown up to 15340 USD/BTC, with total market cap of 257 billion dollars. This is a 10,63% gain in 24 hours.

 

 

 

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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 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

Bitcoin Goes Above $19K, Europe Is Ready For Bitcoin Futures

The world’s first cryptocurrency has recently gone well over $19K. CoinMarketCap reports that later on Saturday, Bitcoin broke over the $19K threshold and reached 19060 USD/BTC. At that point, the BTC market cap exceeded $316 billion.

Publication date: 18 December 02:30 AM

Bulgaria May Trigger Bitcoin Crash

The international Bitcoin community has been shocked by the news that a relatively small European country named Bulgaria (the national GDP was 52,4 billion dollars in 2016) make force Bitcoin into crashing!

Publication date: 12 December 11:15 AM

Bitcoin Billionaire Predicts 2000% Rally

Cameron Winklevoss, one of the Winklevoss twins who are the world’s first Bitcoin billionaires, expects Bitcoin to gain another 2000% in the coming years, Bloomberg reports.

Publication date: 11 December 08:26 AM