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Thursday, 9 July 17:04 (GMT -05:00)



Foreign exchange market

Goldman Sachs Discussed Cryptocurrencies


Previously, we were hoping that Goldman Sachs would treat cryptocurrencies in a different way, especially given the fact that BTC had gained  a lot in value since the beginning of the year and fiat currencies were subject to high inflation.

However, the bank's economists don't see any potential in BTC and think that buying BTC as an investment has no sound reasoning. Better yet, they don;t think that BTC belongs to a new class of assets. Not only do the blockchain-based cryptocurrencies bring any profit at the cost of economic growth, they are still not seen as a reliable way to secure against inflation, let alone the fact that they have been intensively used for money laundering and buying stuff on the darknet.

In reality, such statements disappoint because these are double standards. The thing is that fiat money has also been used fro the same dirty purposes while BTC has been fighting for the right to be a safe-haven asset. Just look at the BTC price chart.

It's interesting to not that Bitcoin was approved as a CFTC asset back in 2015, the Winklevoss twins say:

 
 
He also quoted Paul Tudor Jones who admitted buying BTC futures and spent 1,2% of his capital on that.
 
 
You can always check the current BTC exchange rate and other exchange rates by visiting the official website of NordFX, a trusted forex broker.
 

 

You are free to discuss this article here:   forum for traders and investors

 

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JPMorgan: Bitcoin Turned Into Asset and Survived March Crisis

JPMorgan Chase, one of the biggest banks in the United States and the entire world, analyzed the March crash of the cryptocurrency market and published a report on the results of this research. Bitcoin occupies the lion's share of the report. So, the analysts made the conclusion that the BTC market is getting mature, which is confirmed by a strong correlation with most stock markets.

Publication date: 25 June 11:54 AM

Investment Interest In Bitcoin Drops After Halving

Publication date: 21 June 11:33 AM

Ethereum Is Less Private Than Bitcoin

According to a group of Hungarian experts who decided to examine the Ethereum network, ETH transactions turn out to be less private than BTC transactions. The experts published the results of their research after studying a bunch of several, pretty specific functions of Ethereum. Those functions usually make it possible to track the financial flows in the network.

Publication date: 15 June 02:28 AM

COVID-19 Keeps Affecting Dollar

Right before the start of another trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 15th - 20th. So, this is what those predictions look like:

Publication date: 14 June 10:55 AM

NordFX Wins "Business Excellence" Award By WORLDCOB

The World Confederation of Businesses, WORLDCOB, which unites over 3500 members from over 130 countries of the world, has recognized NordFX's achievements by awarding the company with THE BIZZ Business Excellence Award.

Publication date: 04 June 08:09 AM

Revolut Reports 68% Increase In Crypto Trading

According to the data provided by a British financial company named Revolut, the limitations related to COVID-19 have been affecting the amount and cost of cryptocurrency transactions made by international users.

Publication date: 04 June 05:19 AM

Cryptocurrencies and Forex. Early June 2020.

Right before the start of the first trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 1st - 5th. So, this is what those predictions look like:

Publication date: 01 June 08:47 AM

Annual Inflation of XRP Exceeds 20%

The annual inflation of XRP has exceeded 20%, which is 5 times as high as the inflation of BTC. The figures were provided by a research company named Messari. This is the highest annual inflation rate registered among cryptocurrencies with decent market capitalization. Apparently, a major increase in the amount of circulating coins leads to a cheaper coin, which is something that's going on with XRP.

Publication date: 01 June 06:10 AM

Bollinger Bands and Forex Strategies

In this article, we are going to take a closer look at a interesting tech analysis indicator called the Bollinger Bands. Any seasoned trader out there has probably applied this indicator to analysing the price chart in order to make a sound trading decision.
Publication date: 31 May 05:50 AM

EU To Launch Anti-Crisis Fund

France and Germany, the economic leaders of the European Union, have promoted the idea to start a special fund to back the economic recovery after the crisis.
Publication date: 30 May 04:31 AM