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Thursday, 26 April 21:42 (GMT -05:00)



Foreign exchange market

Bitcoin 2018: New Cryptocurrency Realities


In March, the BTC exchange rate dropped by almost 3000 dollars. Some experts predict a further downtrend in the near future, Market Leader reports.
 
Last Friday, the average BTC exchange rate dropped all the way down to 8360 USD/BTC. A day before, the price used to be above 9000 USD/BTC and then dropped down to the mentioned level. This means that the world’s first and most expensive cryptocurrency has actually failed to consolidate close to 10000 USD/BTC, not to mention breaking above this psychological level.
 
The price started retracing further down after several attempts to recover. At this point, CoinDesk experts predict a further move down to 8000 USD/BTC and maybe even lower.
 
At the same time, some other experts believe that Bitcoin may break and consolidate above 9000 USD/BTC once the price starts moving up. However, first Bitcoin will have to consolidate above 8700 USD/BTC, which seems to be the closest major level of resistance. Judging by Reddit comments, most users think the bullish scenario to be unlikely at this point. Most of them are bearish on Bitcoin in the short-term perspective.
 
At the same time, international experts say that the market started going down amid some news coming from Japan. In particular, the Bank of Japan warned Binance, which is a major cryptocurrency exchange. The thing is Binance has been rendering services to Japanese traders and investors without the corresponding license. So, if the exchange wants to continue doing so, they will have to get the license from the BoJ.
 
According to Ethereum World News, such headlines have been seriously affecting the global market of digital currencies. The international community has been concerned that other online exchanges worldwide may see pressure and are likely to be either forced to get license or suspend their services. Apparently, as international investors are getting more cautious and reducing their exposure to the cryptocurrency market, the trading volume keeps on going down and affecting digital currencies.
 
Bitcoin Tries to Recover
 
Bitcoin has made several attempts to recover this week. It overcame the $9K threshold but failed to consolidate about it. Needless to say that cryptocurrencies have been extremely volatile over the recent months, especially the top ones like Bitcoin. After rallying for a while, the BTC exchange rate reversed on March 25th and started retracing. More and more experts share the same opinion that Bitcoin will eventually be able to consolidate at new local highs for a long time if it manages to set them.
 

 

NordFX experts report that a couple of days ago, Bitcoin came close to 8900USD/BTC but then retraced back to 8000USD/BTC. Now it seems to be trying to recover a bit but those attempts have been unsuccessful so far.

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Experts Say, Iran’s Cryptocurrency Ban Won’t Affect BTC Rate

The central bank of Iran has banned cryptocurrencies. This decision was made on April 22nd. Apart from banning any cryptocurrency transactions in Iran, they also decided to ban any ads related to cryptocurrencies or blockchain. The reason is simple: cryptocurrencies may be used for money laundering, or sponsoring terrorism, or any other illegal activities. This is explained in the central bank’s official press release.

Publication date: 25 April 12:57 AM

World Bit Bank Names Crypto Bank’s Key Goal and Prospects

The world’s first crypto bank – The World Bit Bank (WBB) – has reported about obtaining two major licenses, which are going to lay the foundation for providing authorized cryptocurrency-related services.

Publication date: 24 April 09:45 AM

Trading Week Starts with Stronger Dollar and Cryptocurrencies and Weaker Gold

The last trading week of April started from the strengthening of the U.S. Dollar and cryptocurrencies and the weakening of gold. At this point, the USD index has gained up to 90,38 points (+0,07%).

Publication date: 23 April 11:52 AM

Backed by Alpari, Bicycle Expedition Conquers North Pole

For the first time in history, the northernmost point of our planet was conquered by a man on a bicycle, who is famous Russian adventurer Bogdan Bulytchev. For those of you who don’t know, he is a member of the Russian Geographical Society and the State Polar Academy.

Publication date: 21 April 12:23 PM

Roubini Names Blockchain Overhyped Technology

Famous economist Nouriel Roubini criticized the foundation of cryptocurrencies – the so-called blockchain technology. In his article for Project Syndicate, Mr. Roubini called blockchain the most overhyped technology ever.

Publication date: 20 April 04:08 AM

Bitcoin Gains Value: 2 Days in a Row. Over 10% a Day

Now it seems that the long-term retracement of the USD/BTC exchange rate seen over the first quarter of the year is gradually reversing back for the uptrend.

Publication date: 13 April 12:57 PM

Bitcoin Rate and US-China Trade War

The cryptocurrency market has been going down steadily for a while. According to CoinMarketCap, the Bitcoin exchange rate has been moving around 6800 USD/BTC. Ethereum, Ripple, Bitcoin Cash and Litecoin have been trading around 382, 0,49, 633, and 119 dollars per coin respectively.

Publication date: 06 April 10:02 AM

It’s the Day of Reckoning for Cryptocurrency Funds, Bloomberg Says

Bloomberg experts claim that the day of reckoning for cryptocurrency funds has finally come. Last year, when the world’s first digital currency (Bitcoin) went sky-high in mid-December and reached another all-time high at 20000 USD/BTC, over 150 funds specializing in cryptocurrencies emerged on the Internet. In 2017, their profits reached 1000%.

Publication date: 05 April 09:43 AM

Masterforex-V Expo Names World’s Best Forex Brokers For Beginners in March 2018

Each and every forex trader out there faces the same challenge at some point in their career. This challenge boils down to choosing the right forex broker. This holds especially true for beginners who are just getting their feet wet in the forex trading environment. This choice is fairly significant for all of them since their future trading performance will depend on that choice. The truth is, all of those forex companies may differ in a number of aspects, including the offered trading conditions.

Publication date: 04 April 12:01 AM

Experts Predict Bitcoin Move Above $10K

This week Bitcoin may come close to the psychological level of 10000 USD/BTC and break above it, some international experts say.

Publication date: 26 March 02:10 AM