Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Tuesday, 18 September 16:19 (GMT -05:00)



Foreign exchange market

Bitcoin Goes Down Before Another Rally?


The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.
 
The downtrend from 7500 USD/BTC resumed over the weekend and has been in progress ever since. By early Tuesday, the exchange rate had already gone all the way down to 7200 USD/BTC, according to CoinMarketCap. At the same time, NordFX analysts report that over the past trading week, Bitcoin lost 15% of its market value.
 

s_311.jpg

 

For the most part, the rally started as the result of several statements previously made by several central banks worldwide. At the same time, the U.S. Department of Justice started investigating the case related to manipulating cryptocurrency rates, including Bitcoin and some other altcoins. Also, the Indian government is currently considering the idea of taxing on cryptocurrency transactions to the amount of 18%. U.S. and Canadian financial regulators started fighting scam ICOs and suspicious monetary units. This has been going on within the scope of “Operation Cryptosweep”. Yet, there was another reason that pressed the BTC rate. The thing is that another CME Bitcoin futures contract expired on May 25th.
 
Further Downtrend or New Rally Ahead?
 
Some experts believe that Bitcoin may continue its way down to new local highs this week and even break above the 6000 USD/BTC psychological threshold. The sellers have set the closest targets around 7000 and 6500 USD/BTC, with 7000 USD/BTC being the key level of support at this point. If it fails to hold the ground, the next major levels of support will be around 6500/6000/5500 USD/BTC.

 

 

 

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

 

Add to blog
Got a question? – Ask it here »
 

Masterforex-V Academy Names World's Best Forex Brokers

There are quite a lot of FOrex brokers out there, which is why even FX experts may have a hard time finding one of the best representatives of the FX industry.

Publication date: 15 September 10:43 AM

China's Central Bank Wants to Legalize Cryptocurrencies

The People's Bank of China is currently seeking expert advice regarding turning cryptocurrencies into legal financial asset and payment means in China. According to some financial experts from China, the Chinese authorities have been showing keen interest in blockchain-based technologies, ICOs, and digital currencies. However, they have been cautious since they don't want the international community to know about it.

Publication date: 13 September 11:00 AM

Russian Forex Jurisdiction Gains Strength

After the summer break, investors are going back to business, refreshed and ready to go productive. Most of them see September as the beginning of a new life cycle in their career. its not accidental that an unprecedented event is planned by Alpari Forex. The Alpari office located in Saint Petersburg, Russia, will welcome Evgeniy Masharov, who is in charge of the Association of Forex Dealers. He is visiting Alpari Forex for the first time and planning to participate in a meeting with some of the Forex traders and investors registered in the Russian FX jurisdiction.

Publication date: 03 September 10:44 AM

Near-Term Bitcoin Prospects

Bitcoin has been feverish and going up and down in value, and the entire crypto-market has been following the world's first and biggest cryptocurrency.
 
Publication date: 21 August 11:14 AM

There's Nothing Wrong About Crypto-Market Downtrend, Ethereum Co-Founder Lubin Says

The ups and downs currently seen in the global market of digital currencies do not reflect the current state of affairs in the market, Joseph Lubin thinks. By the way, he is the founder of ConsenSys and a co-founder of Ethereum, the world's second-biggest cryptocurrency in terms of market cap. 

Publication date: 21 August 10:48 AM

Bitcoin May Continue Downtrend

The bearish market bias has been setting in for a while. This started shortly after the SEC decided to delay their decision on the Bitcoin ETFs for such companies as VanEck and SolidX. This is confirmed by ForkLog. 

Publication date: 09 August 11:43 AM

Philip Nunn Predicts $60K for Bitcoin in Late 2018

According to Philip Nunn, CEO of Blackmore Group and Wealth Chain Group, the BTC exchange rate is likely to skyrocket all the way up to 60000 USD/BTC.

Publication date: 09 August 10:38 AM

Bitcoin lost 7% in 24 hours

The Bitcoin exchange rate has gone down by 7% over the last 24 hours. In particular, the exchange rate dropped down to 7500USd/BTC.

Publication date: 01 August 10:56 AM

Panic Around Winklevoss Brothers Hasn't Dropped Bitcoin Below $8000

For those of you who don't know, the SEC has recently declined the Winklevoss Brothers' request to create an exchange-traded fund (ETF). Shortly after the news, some cryptocurrency investors started panicking. At the same time, some experts started predicting another downtrend in the global market of cryptocurrencies in general and Bitcoin in particular.

Publication date: 30 July 12:30 PM

Bitcoin Gained Over $1000 In a Week. The Uptrend Is Still Underway.

After a couple of months of stagnation, the cryptocurrency market seems to start recovering and regaining the lost ground. Over the last couple of weeks, the BTC exchange rate increased by more than 1000 dollars. Other popular cryptocurrencies followed.

Publication date: 26 July 01:24 PM