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Thursday, 9 July 16:49 (GMT -05:00)



Foreign exchange market

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.
 
JPMorgan Is Positive On Bitcoin
 
The sudden market crash that took place in March 2020 was caused by the COVID-19 pandemic. Apparently, it became subject to multiple research works. According to JPMorgan experts, Bitcoin managed to survive the crash and remained almost intact, which testifies to its maturity as a financial asset, which means that the coin is to stay at the top of the global financial environment for years to come.
 
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It's interesting to note that not so long ago, the bank's CEO Jamie Dimon called Bitcoin a scam. Even though he made his apologies for such a statement in a couple of days, the community still despised him. However, the very fact that a major bank has changed their mind regarding BTC is positive sign for the crypto market.
 
Better yet, there are rumors that JPMorgan has bee loading up on BTC since they changed their mind. And the very fact of JPMorgan's loyalty to Bitcoin is backed by May's reports made by Coinbase and Gemini, two major cryptocurrency exchanges.
 
Report Indicates BTC Weaknesses
 
Despite the positive mood of the report, it indicates the weak spots of the world's first and biggest cryptocurrency. One of them is the fact that BTC has been used for speculative purposes rather than value storage and exchange, which is something most professional traders think as well. On the other hand, many of those traders can and do benefit from both ups and downs of the BTC exchange rate, NordFX experts say. The report also indicates correlations with riskier assets like stocks.
 

 

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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

Goldman Sachs Discussed Cryptocurrencies

Publication date: 07 June 03:57 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