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Thursday, 23 May 07:56 (GMT -05:00)



Foreign exchange market

Billionaire Predicts Major Rally for Bitcoin


Michael Novogratz, a billionaire and investment banker, thinks that the Bitcoin exchange rate is going to skyrocket within the next 20 years. In particular, he believes that in two decades, the market cap of the world's first cryptocurrency will exceed the one of gold. For that, the BTC rate will have to increase by 10000% to reach 7,5 trillion dollars.
 
Apparently, this is going to happen if big-scale institutional investors come into play at some point in the near future. The thing is that big-scale companies are getting more and more interested in cryptocurrencies in general and Bitcoin in particular. Goldman Sachs and Intercontinental Exchange are among those big-scale players. If that's really the case, that's destined to give the whole industry a huge positive momentum.
 
The billionaire thinks that the long-term prospects of Bitcoin are very strong. And he back his standpoint by multiple examples of factors backing this positive tendency, including the forthcoming launch of Fidelity and Bakkt, which will happen sooner or later.
 
As for exceeding the mentioned 7.5-trillion-dollar threshold, the billionaire is convinced that this is certainy to happen at some point within the next 20 years. 
 
At this point, 1 BTC is trading slightly over 4000 dollars.  This is 20-25% higher than December's levels when the exchange rate dropped down to 3300 dollars per coin. 
 

BTC/USD. Technical analysis

 

Daily chart, courtesy of FortFS: 
Bitcoin is still trading within the scope of a flat market, with a faint bullish tendency. The support is at 3976. The resistance is at 4110 (the range set by the upper Bollinger Band).
 
Н4: The local ADX is weak. It hints that the probability of a further flat market is high, probably within 35-dollar range between 3996 and 4028 dollars per coin (Bollinger Bands).
 

 

Н1: The intraday picture looks flat as well, without any signs of tendency change. the daily forecast is a flat market within the 3995-4019 range.
 

Expectations: a flat market within the 3995-4019 range.
Trading decisions: trading within the 3995-4019 range.

 

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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

Six main components of Alpha Bonus from FortFS

From 06 of May till 07 of June 2019 become the owner of a unique artifact called Alpha Bonus and subdue the financial element!


Publication date: 13 May 01:40 AM

Bitcoin Reaches 5-Month High

The cryptocurrency has been maintaining a stable bullish trend. over the last few days, the market cap has exceeded 185 billion dollars. According to CoinMarketCap, the market cap used to be 179 billion dollars on Tuesday. Over the last few days, the cost of all the cryptocurrencies circulating in the global market has grow considerably. 

 
Publication date: 27 April 10:24 AM

ETH's At Local Highs: What's In For Ethereum And ICO?

Ethereum is back in the game! It's currently trading around 5-month lows. Still, the market seems to be showing some confidence that the coin has already overcome its existential crisis and managed to recover from crisis that started after the ICO bubble burst in 2018. Will ETH and ICO revive?

Publication date: 17 April 10:42 AM

NordFX Shares Another Forex and Cryptocurrency Forecast for Mid-April 2019

The balance of powers in the international currency market (also known as forex) influences many contemporary tendencies in the entire world. At the same time, traders and investors rely on accurate forex forecasts to earn money. That is why we keep on publishing those weekly consensus forecasts, courtesy of NordFX.
Publication date: 15 April 10:54 AM

Weekly Forex and Crypto Prediction by NordFX. Mid-April 2019

Any exchange rate between any two currencies is the result of multiple factors affecting the currency pair at any given moment. At the same time, those exchange rates themselves are actually capable of affecting other processes important to specific countries and even the entire world.

Publication date: 09 April 11:01 AM