Heroes of Ukraine

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

Tuesday, 16 July 19:43 (GMT -05:00)



Foreign exchange market

Experts on Cryptocurrency Market Prospects


Over the last few years, Bitcoin has dropped in value considerably. International experts are trying to figure out how the market situation may change in the near future. 
 
On October 2018, Bitcoin used to trade around 6530 dollars per coin. Now the exchange rate is well below 3580 dollars per coin. The world's most popular cryptocurrency has lost as much as 45% over the last 3 months. Over the period, the market cap has dropped from 210 billion dollars all the way down to 119 billon dollars.
 
Some international experts assume that Bitcoin is unlikely to go up considerably in the near future. On top of that, the current situation makes it impossible to make accurate long-term forecasts, mostly because of the weak news background and low volatility.
 
It's interesting to note that the current market cap of the entire crypto market is below Nike's market cap. The problem of trust to the cryptocurrency market still exists. On top of that, ETFs and some other instruments required for investing in cryptocurrencies are still banned.
 
Despite the fact that BTC/USD is currently trading around a local support area, they don't recommend buying Bitcoin at least until the exchange rate consolidates above 4000 dollars per coin. 
 

Once again, more and more experts seriously doubt that Bitcoin will start a new rally in the coming weeks. Still, if the price does reach the $4000 threshold, it will created the so-called Head and Shoulders pattern. In this case, the price will head for $5000.
 
At the same time some of those experts assume that the price is likely to drop down to 2500-2600 dollars per coin. After that Bitcoin may well start a new bullish cycle. Still, there are several factors that can seriously affect the current and future state of affairs in the entire cryptocurrency market.
 
They say that BTC/USD hasn't been too active recently, which is why the volatility is relatively low. To fuel up a new rally, a volatility hike is needed. On the other hand, some events may actually change the market situation in the future. If that's the case, the exchange rate may recover all the way up to 6500-7000 dollars per coin.

 

 Apparently, there are many events scheduled for this year. Some of them will clearly influence the cryptocurrency market. So, the best piece of mind that international experts can give us right now is to closely watch those events and evaluate their possible influence on the market.

 
While some experts are convinced that Bitcoin will definitely go down in value in the coming months, others belive the USD/BTC exchange rate won't consolidate below 3000 dollars per coin. They belive that all of those big-scale investors who had been loading up on Bitcoin will eventually have to support the world's first and biggest cryptocurrency. The thing is, most of them purchased most of their BTC coins at around $3000 per coin, which is why they won't simply let it dive even deeper. Some of those experts believe that the exchange rate will stay in the 3000-4500 range over the first 2 months of the year. By summer, the price will have broken from the range to had for 6000 dollars per coin, especially as the 2nd and 3rd quarters of the year have traditionally been the time of positive news for cryptocurrencies over the last few years. This is expected to attract more investors, which in its turn will also back a stronger Bitcoin.

 

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

 

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

NYSE Launches Slack Technologies' IPO

Publication date: 22 June 05:58 AM

Masterforex-V Names 135 Most Popular Forex Brokers 2019

When trying to increase the amount of new clients, many brokers start massive ad campaigns online. Most of the time, you can see or hear those brokers call themselves the leading players in the industry, the best of the best, which is obviously not true because all of them cannot be as good as they claim to be. This actually makes it really difficult for the common trader or investor to make up their mind when choosing the next broker to go with.

Publication date: 12 June 08:22 PM

NordFX Products and Services Praised at the Philippines Traders' Fair

  The brokerage company NordFX took part in the specialized Forex Traders' Fair-2019 which was held in the capital of the Philippines, Manila, at the end of May.

 

Publication date: 01 June 05:52 AM

Central Banks Cut Down On Their Dollar Reserves

Central banks all over the world are loading up on euros, yuans, and yens while getting rid of their dollar reserves. The IMF's report for the 4th quarter of 2018 confirms that. They say this has to do with the redistribution of currency reserves in the Russian Federation.

Publication date: 31 May 12:59 PM

Forex Forecast and Cryptocurrencies Forecast for May 27 - 31, 2019

Complaints and sometimes even moans have been heard everywhere in the last months about the low volatility of this pair. The same is true about last week, until the second half of Thursday, the maximum range of its fluctuations did not exceed 45 points.

Publication date: 27 May 04:51 AM

Forex and Cryptocurrency Forecast by NordFX. May 20-24, 2019

Roman Boutko, an analyst for NordFX, has come up with another consensus forecast for the forex and cryptocurrency markets for the forthcoming trading week starting on May 20, 2019.


Publication date: 20 May 03:50 AM

U.S. Sanction Trap For Russian Rouble

It's not a secret that the amount of sanctions against Russia has been growing over the last few years. At the same time, experts are losing faith in the stability of the Russian Rouble. Washington is discussing more and more variants to impose even more sanctions on Russia to undermine its economy and national currency.

Publication date: 18 May 03:25 PM

Facebook articles contest from FortFS

FortFS offers you to show off your writing skills and compete with other traders for a prize fund of 1000 USD, which will be distributed among the authors of the most interesting articles about our company!

Publication date: 18 May 12:24 AM

BTC Market Will Set New Highs In 2020

Tom Lee, Chief Analyst for Fundstrat Global Advisors, has recently shared his optimistic view on the future of Bitcoin (BTC). In early May, he said that the BTC exchange rate is undervalued and, given some fundamental factors, it should be somewhere around 14K dollars per coin. At this point, he thinks that the current all-time highs may well be renewed this year. This means BTC prices above $20K per coin and market cap well over 830 billion dollars within the next 20 months.

 

Publication date: 15 May 10:05 AM

U.S. Unemployment Rate Drops To Nearly 50-Year Low

The U.S. Department of Labor has released another unemployment reports. For the first time in over 49 years, the unemployment rate dropped all the way down to 3,9%. For the most part, this has to do with a considerable decline in the economically active population.

Publication date: 13 May 11:22 AM