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    Forex Forecast and Cryptocurrencies Forecast for November 16 - 20, 2020


    First, a review of last week’s events:

    - EUR/USD. Last week, we started talking about complete uncertainty in the market, when investors just shrug their shoulders, not knowing what to expect in the near future. Yes, Joe Biden has won the presidential election. It seems to have won. Since Donald Trump's team has already collected a lot of facts about the violations and falsifications and is going to challenge the election results in court. For the time being, a number of state bodies, including even the Office of the Director of National Intelligence (ODNI), refused to support the change of president. The distribution of seats in the US Senate remains questionable, and the priorities in the country's policy, including fiscal measures and programs to support the economy, depend on this.
    It is completely unclear in which direction and at what speed the situation with the coronavirus pandemic will develop as well. Will there be a new lockdown and of what scale? The daily number of new cases of COVID-19 infection has exceeded 100 thousand in the United States for almost a week and a half already, which requires the adoption of new restrictions at least in some states. And this is a reduction in production, a decrease in the number of jobs and, as a result, a fall in stock indices.
    In general, there are still much more questions than answers. And that is precisely why the forecast that we gave last week turned out to be absolutely correct. recall that the opinions of experts were equally divided then: one third voted for the growth of the EUR/USD pair, one third - for its fall, and one third took a neutral position. The nearest levels were named: support - 1.1760, resistance - 1.1965. The EUR/USD pair spent the whole week around these boundaries, fluctuating in the range from 1.1745 to 1.1920, and eventually returned to the Pivot Point zone, along which it has been moving for 16 consecutive weeks. The final chord sounded at 1.1830;

    - GBP/USD. Let us start right away with the results of the week - the long-awaited breakthrough did not happen in the Brexit negotiations. And the storms, when the pound, following the forecasts of 70% of experts, first rushed to the north, reaching a height of 1.3315, and then turned southward, falling by 210 points to 1.3105, ended in complete calm in the middle of this range - near the horizon 1.3200;

    - USD/JPY. We can state looking at the chart of this pair that those 30% of experts who had sided with the bulls and voted for the return of USD to the 104.00-105.00 zone were right. Following the yield on long-term American securities, the pair even tried twice to break through the resistance at 105.65, but failed, and eventually completed the five-day period at 104.60, climbing 130 points;

    - cryptocurrencies. Let's start with the crime news, which did not differ much last week from what had happened before. For example, hackers have reminded of themselves again. This time, Taiwanese laptop maker Compal Electronics fell victim to the ransomware DoppelPaymer. The hackers demanded 1,100 BTC (almost $17 million at the time of writing) for decrypting the files. According to information security experts from Group-IB, DoppelPaymer spreads on Windows networks, is known for attacks on corporate networks by gaining access to administrator rights and was among the three most aggressive and greedy ransomware of 2019.
    One more piece of news. The intrigue with the mysterious transfer of bitcoins worth over $1 billion on the night of the US presidential election ended. The most fantastic versions had been put forward, but it turned out later that it was US Department of Justice that had confiscated almost 70,000 BTC from the wallet associated with the Silk Road darkmarket.
    Now some statistics. The number of cryptocurrency ATMs has increased by 80% in 2020 compared to their number in 2019. An average of 23 new ATMs are installed every day. Currently, there are about 11 thousand of them in the world, and most of them are located in the United States and Canada. According to experts, most often such ATMs are installed by small startups that are trying to make money on the exchange of cryptocurrency for fiat.
    Last week, exchanging bitcoins for dollars became even more profitable, since, as predicted by most experts, the BTC/USD pair crossed the $16,000 mark. The main cryptocurrency rose to a height of $16,460 at its peak, and it happened on Friday 13 - the so-called "day of trouble", which got its name from numerous superstitions and myths and was immortalized in the famous American horror film.
    However, as far as Bitcoin is concerned, this day, on the contrary, has delighted many holders of the reference cryptocurrency. Some began to take profits, hoping then to replenish their BTC wallets on a rollback. And those who were not going to sell their coins just got another dose of optimism in anticipating further growth in their capital.
    If you look at the chart of the total capitalization of the cryptocurrency market for the last week, you can clearly see that when the BTC/USD quotes fell, active buying of coins began again. This happened both with the price falling to $14,390 on November 07, and the next pullback two days later. As a result, step by step, the pair rose higher and higher, which indicates an overall positive sentiment, and which allowed the total capitalization, as a result, to grow in seven days from $447 billion to $465 billion.
    The Crypto Fear & Greed Index was in the same place as a week ago by the evening of Friday, November 13 - at 90, in a zone that the developers of the index designated as "Extreme Greed". This value corresponds to the BTC/USD pair being strongly overbought and portends its correction. Recall that in a similar situation on November 07, the pair lost about 8%. True, it then took less than a day to restore the quotes to the previous values.
    As for ethereum, as the Unfolded notes, its dependence on bitcoin has been weakening since the end of October. The correlation of the two largest cryptocurrencies decreases amid preparation for the release of the updated version of the ETH 2.0 network. It is this factor that has accelerated the separation of the main altcoin from BTC. Now the correlation is at its lowest level since early 2018. If ethereum rises in price to $500 in December against the background of weakening bitcoin (now ETH is holding at $460), then it will be able to finally "untie" from its "big brother".


    As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

    - EUR/USD. According to 90% of 65 Wall Street Journal experts, uncertainty in financial markets should decrease with clarity regarding the outcome of the US presidential election and news about the COVID-19 vaccine. Moreover, the head of the ECB, Christine Lagarde, believes that much has become clearer to her personally, thanks to Joe Biden's victory, the expected success in the Brexit negotiations and vaccine development. As a result, the more clarity, the less desire to buy up dollars, and the greater the cravings for riskier assets. And this should lead to the growth of the EUR/USD pair.
    But Ms. Lagarde's view is not yet the view of the whole market. The second wave of the pandemic is only gaining momentum. How the United States will behave under Biden's presidency is also unknown. So, for example, 58% of Wall Street Journal experts expect that the size of the next economic aid package will be $1-2 trillion, 29% vote for an amount less than $1 trillion, and the remaining 13% call the figure of $2-3 trillion The continuation and scope of the trade and economic war between Washington and Beijing and many other factors remain in question.
    Unlike fundamental, technical analysis doesn't know what presidential elections, trade wars or vaccinations are. That is why, despite the uncertainty prevailing in the market, the indicator readings now look much more specific. Thus, 100% of the trend indicators and 75% of the oscillators on H4 and D1 are painted green. They are opposed by only 25% of the oscillators signaling that the pair is overbought.
    But as for analysts, although moods similar to Christine Lagarde's expectations prevail, it is still difficult to call them dominant. The bulls have very little priority: 50% of the experts side with them. Bears have 40% of supporters. The remaining 10% have taken a neutral position.
    The narrowest trading range for the pair is limited by the channel 1.1740-1.1845, the next one with the increase in volatility is 1.1700-1.1900, and finally, the maximum swing of fluctuations, since August, is 1.1600-1.2000.
    Among the most important economic events of the coming week, the publication of macro-statistics on the US consumer market on Tuesday, November 17 should be noted;

    - GBP/USD. Bank of England Governor Speaks Marathon continues, albeit with less tension¬ - if last week Andrew Bailey spoke as many as three times, then for the next one only one of his speeches is scheduled, on Tuesday, November 17th. It is possible to predict with a high degree of probability that the purpose of such public activity of the banker is to convince the government and the public that the regulator has its finger on the pulse and that, despite the difficulties, one should look to the future with optimism.
    However, the financier's optimism about the prospects of the British currency is shared by only trend indicators on H4 and D1 and oscillators on H4. But on D1, there is already complete turmoil among the oscillators - one third is colored green, one third is red and one third is neutral gray. This color scheme almost coincides with the forecasts of analysts, among whom 30% are in favor of the growth of the pair, 25% are in favor of its fall, and another 45% take a neutral position. As for the graphical analysis on D1, it definitely leans towards the strengthening of the dollar and the fall of the pound. The supports are 1.3100 and 1.3055, the goal is to return the pair to the echelon 1.2850-1.3000. Resistance levels are 1.3315 and 1.3285.

    - USD/JPY. It is well known that the dynamics of this pair is greatly influenced by the yield of US securities - where they are, there it is. After falling to the horizon 103.15, the reversal of this pair and the rise to the level of 105.65 looks very impressive. But the result of the week turned out to be not so bright at all, because, after the rise, another fall followed, as a result of which the yen managed to win back more than 40% of its losses.
    If you look at the D1 chart, the USD/JPY pair is still within the downlink, which began in the last week of March 2020. And whether it can reverse this trend depends largely on what happens to the real, rather than nominal, yield of 10-year US bonds. And it depends on the policy of the Fed, which, in turn, depends on who will soon be in the White House and what kind of strength awaits us in the Senate of this country.
    In the meantime, 60% of analysts, supported by 90% of trend indicators and 70% of oscillators on both timeframes, believe that the pair will keep within the descending channel and will try to test support in the 103.00 zone again. Supports are at 104.35 and 104.00 levels. According to an alternative point of view, the pair is expected to rise first to resistance in the 105.00 zone, and then to a height of 105.65. The next goal is 100 points higher;

    - cryptocurrencies. We have already written that the COVID-19 pandemic has become a winning card for bitcoin. The more money Central Banks print, the more investors begin to acquire bitcoin as a protective asset. But this card is not the only one. Many representatives of the crypto sphere were encouraged by the results of the US presidential election, where Joe Biden may have won. The crypto community believes that, unlike Donald Trump and his Treasury Secretary Steven Mnuchin, Biden will be more liberal about digital currencies and the blockchain industry in general. However, the issue of Biden's reigning in the White House has not yet been resolved, as Trump intends to prove numerous irregularities during the vote in the courts. So this “Big Game” has not yet ruled out big surprises.
    Bloomberg analyst Mike McGlone believes that the bitcoin rate will rise to at least $20 thousand in 2021 and renew its all-time high. This is not McGlone's first positive prediction. In early October, he suggested that the first cryptocurrency would rise in price to $100,000 by 2025 and gave several reasons for this. These include the monetary policy of the states, which leads to the depreciation of fiat currencies.
    Former associate of George Soros in the Quantum fund billionaire Stanley Druckenmiller agrees with McGlone, he also expects the dollar to fall on the horizon of three to four years. He revealed in an interview with CNBC that he invested some of the capital in the first cryptocurrency, while admitting that bitcoin may be a better tool for preserving value than gold.
    A sharper growth curve for BTC/USD is predicted by a popular blogger under the nickname PlanB. So, if according to Mike McGlone's forecasts, the first cryptocurrency will reach $100 thousand only by 2025, PlanB expects to see it at this height by December 2021. The expert notes that during periods of market corrections, he observes how the algorithms of bitcoin whales pick up hundreds of portions of 0.01 BTC from "weak hands". Later these coins “disappear” in “deep” cold vaults. According to the S2F model, this move of bitcoins to wallets for long-term storage leads to a reduction in their sales. This is especially true for the period after the halving, which leads to a supply shock and provokes a bull market for the next 18-20 months. This was the case for the first and second halving of miner awards in 2012 and 2016. According to PlanB, the dynamics of bitcoin after the third halving in May 2020 is developing like clockwork, which once again confirms he is right.
    At the moment, the BTC/USD pair has reached the highs of January 2018. But mass profit-taking is holding back greed in anticipation of its growth to at least $20,000. Especially since there are no serious levels of resistance along the way. However, global factors, such as Trump's victory or mass vaccination against COVID-19, as well as Chinese miners who have relaunched their equipment and need cash money to cover capital expenditures and operating expenses, may reverse the trend.
    60% of experts expect the BTC/USD pair to be fixed above the $17,000 level by the end of November. 20% give a neutral forecast, and the remaining 20% expect the pair to fall to the $14,000-15,000 zone.


    NordFX Analytical Group


    Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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    - Hackers attacked large companies in Israel, traditionally demanding a ransom in bitcoins to regain access to confidential information. The new ransomware virus was named Pay2Key. It affects corporate programs through which reports on financial transactions and other data are transmitted. According to IT company CheckPoint, if the conditions set by the criminals are not met, they usually simply upload the databases to the darknet or to specialized resources on the Web, where anyone can view the materials or buy them.

    - Mike Novogratz's Galaxy Digital cryptocurrency bank, in collaboration with investment company CI Global Asset Management, will launch a new bitcoin fund in Canada. The investment company will act as its manager, and the cryptobank will act as co-manager. The latter will carry out all Bitcoin transactions on behalf of the fund. The asset value will be based on the Bloomberg CFIX Bitcoin Index. The partners have already announced preparations for the IPO, as part of the initiative. The offer consists of $10 Class A and F shares.

    - Bloomberg analyst Mike McGlone is confident that the capitalization of the first cryptocurrency will reach $1 trillion in the second half of next year. However, first the price of bitcoin needs to overcome the main obstacle: the all-time high reached in December 2017 at around $20,089. Almost three years have passed since then, during which time the price managed to drop to $3,126, and then grow fivefold, reaching $18,000 at the moment.
    “$20,000 is the main obstacle for bitcoin to capitalize at $1 trillion,” McGlone wrote. - The digital version of gold, but with a more limited supply and a history of adding zeros, appears to be in the early stages of pricing and may simply continue to grow in 2021. Its mass acceptance is growing."

    - Actress Maisie Williams, who portrays Arya Stark in Game of Thrones, asked her Twitter followers if she should invest in Bitcoin. At the time of this writing, 650,369 users expressed their opinion, of which 50.7% answered in the affirmative, 49.3% - in the negative.
    Comments from representatives of the cryptocurrency community appeared under the post. For example, the founder of the investment company Grayscale, Barry Silbert, recommended Williams to get acquainted with his firm. In the message, he stressed that "Game of Thrones" featured a "greyscale" in keeping with the name of his company, Greyscale.

    - Thanks to consolidation in the status of digital gold, the rate of the first cryptocurrency can reach $318,000 by the end of 2021. This forecast was presented by Tom Fitzpatrick, Managing Director of one of the largest banks in the world, Citibank. He believes that the bitcoin market is now reminiscent of the 1970s, when dollar inflation led to increased demand for gold. In 1971, US President Richard Nixon carried out a series of reforms, abandoning the Bretton Woods system and pegging the dollar to gold. As a result, the price of this precious metal showed a steady increase over the next 50 years.
    In his new report, Bitcoin: Gold for the 21st Century, Fitzpatrick writes: "Bitcoin moved in the aftermath of the Great Financial Crisis of 2008, when new changes in the monetary regime took place and we dropped to zero interest rates." He notes that currently, financial stimulus measures against the backdrop of the coronavirus pandemic are leading to the formation of conditions similar to the 1970s.

    - The founder of the Galaxy Digital cryptobank Mike Novogratz admitted that he once bought his first 500,000 ETH at the rate of $0.99 from Vitalik Buterin. According to the billionaire, the Ethereum project team decided that it would be nice for the community to have a buyer from Wall Street.
    As for bitcoin, Novogratz learned about it in 2012 and purchased the first 30,001 BTC at $95 per coin. When asked why such a strange amount, the billionaire replied that at that moment the head of the hedge fund Pantera Capital Dan Morehead bought 30,000 coins, and "then we decided that we would buy 30,001 because we could not afford to have more."
    Novogratz also admitted that he planned to sell bitcoin at $1,000 to buy a plane, but he was talked out of it by partner Pete Briger.

    - New US Senator Cynthia Lummis plans to bring the discussion of the first cryptocurrency to the national level. The politician said this in an interview with ABC News channel. “21 million bitcoins will be mined and that's it, this is a limited emission. Therefore, I am confident that it will become an important player as a store of value over time,” said Lummis.

    - The popular American businessman Robert Kiyosaki agrees with the senator. “Bitcoin's rise has outpaced gold and silver,” he wrote. - What does it mean? This means that you need to buy as much bitcoin and precious metal as you can and don't put it off. The train is already leaving. The dollar is dying. When the dollar falls, the price doesn't matter anymore. What matters is how much gold, silver and bitcoins you have.”
    It is curious that in addition to his bestseller "Rich Dad Poor Dad," Kiyosaki wrote two more books in collaboration with US President Donald Trump.

    - The price of bitcoin broke through the level of $18,000 with a market capitalization of $338 billion. BTC has grown by more than 50% over the past month as its net purchases on crypto exchanges have far exceeded those of miners. Citing data from analyst firm Glassnode, cryptanalyst Will Wu pointed out that hourly purchases of BTC on exchanges are almost 20 times higher than the amounts attributed to miner sales. Another specialist, Lark Davis, also confirmed that 145,000 bitcoins left the exchanges in the last month, and only 27,000 BTC were mined during this time.


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    Forex Forecast and Cryptocurrencies Forecast for November 23 - 27, 2020


    First, a review of last week’s events:

    - EUR/USD. Last week, we talked again about complete uncertainty in the market, when investors just shrug their shoulders, not knowing what to expect in the near future. And then the forecast was appropriate: 50% of the experts sided with the bulls, 40% supported the bears, and the remaining 10% took a neutral position. And it turned out to be the most correct: the pair moved in a very narrow range of 1.1815-1.1890 for the whole week and completed the five-day period in its central part, at the level of 1.1858.
    The reason for this is the same uncertainty caused by the unclear balance of power after the US election and, as you might guess, by the situation with the second wave of the COVID-19 pandemic.
    In addition to the fact that President Donald Trump has already reached the Supreme Court, where he is going to challenge the election results and where the Republicans have strong enough positions, there is now another conflict in the United States, between Treasury Secretary Stephen Mnuchin and the Federal Reserve System.
    Mnuchin has said that emergency lending programs have already achieved their goals and that they should be completed this year. The Fed would like to see all of these programs designed to support the economy during the pandemic continue to work in full. 12 of the 13 credit lines through which the Fed is pumping trillions of cheap dollars into the economy are due to close on December 31, and if that happens, the stock market will be under intense pressure. Which will trigger a sell-off in stocks and a rise in the dollar as a haven currency.
    According to the head of the Federal Reserve Jerome Powell, the time to complete emergency lending programs will not come soon. He is supported in this by the International Monetary Fund, which believes that the real state of the economy leaves much to be desired and the cessation of funding will lead to another collapse of world GDP.
    It was reported on Thursday, November 19 that Republican Majority Leader in the US Senate, Mitch McConnell, seemed to be ready to resume negotiations on a new stimulus package. However, no one can say yet how these negotiations will end.
    The situation with measures to counter the spread of COVID-19 also remains unclear. State authorities are trying to prevent a new round of the epidemic. New York has already decided to close schools, and the stock market went down on Thursday on the announcement of Mayor Bill de Blasio about the possible introduction of a ban on eating in public catering establishments. And although in Europe the situation with the pandemic is also quite difficult, it is still better than in the United States: thanks to the restrictive measures adopted in the EU, the virus is spreading more slowly here. But making any predictions is a thankless job in this case as well;

    - GBP/USD. At the end of the week, the pound, albeit slightly, but grew up, having risen at the maximum from 1.3200 to 1.3310. And this despite the fact that negotiations on Brexit conditions between the EU and the UK were suspended on Thursday due to the infection of one of the members of the European delegation with the coronavirus. The pound was supported by the information about the resumption of negotiations between the Democrats and the US Republicans on fiscal stimulus, which we described above. Another support was the published data on retail sales in the UK, which increased by 1.2% in October. As a result, the pair closed the trading session closer to two-week highs, at 1.3290;

    - USD/JPY. While the economies of the US and the EU are only trying to fight off another coronavirus attack, Japan is showing impressive success. GDP of this country for the third quarter increased to plus 5.0%. And this despite the fact that a quarter earlier it was minus 8.2%. Such indicators allow the yen to maintain its status as a major haven currency, making it more attractive, compared to the US dollar.
    As a result, the forecast, which was given by 60% of analysts, supported by 90% of trend indicators and 70% of oscillators, was quite accurate. Recall that they felt that the pair would be kept within the downstream channel and would once again try to test the support in the 103.00 zone. True, the pair did not reach the target horizon and found a local low at 103.65. But its aspiration to the south is beyond doubt: having started the five-day week at 104.60, it finished it at 103.80;

    - cryptocurrencies. The forecast we gave the previous week suggested that the BTC/USD pair should consolidate above the $17,000 level by the end of November. At the same time, it was noted that it is hardly worth waiting for a massive profit-taking in the near future, as it will be restrained by greed in anticipation of the price growth at least to $20,000. Especially since there are no serious levels of resistance along the way.
    The reality has surpassed forecasts: having broken through the $17,000 and $18,000 levels, the pair soared to a height of $18,780, showing a weekly gain of 15%. In total, the first three weeks of November saw, bitcoin grow by 35%, and the total crypto market capitalization increase from $401 billion to $515 billion, and at the time of writing the forecast, on November 20, it continues to grow. Such volumes were only seen during the historic 2017 rally.
    Among the main reasons for the growth, experts cite the increasing adoption of bitcoin by both private investors and large institutional investors. Thus, a survey of 700 millionaires conducted by DeVere Group showed that 73% of them either already own this cryptocurrency or are going to invest in it.
    Another reason is the monetary policy of the US Fed. Amid the coronavirus pandemic and interest rate cuts, the US money supply has risen by 22% this year. And that is not the limit, as another stimulus package of about $2 trillion is expected under the QE program.
    Finally, there is a third serious reason for the growth of the basic cryptocurrency. Recently, net purchases of bitcoin on crypto exchanges have been significantly larger than the sales of miners. Citing data from analyst firm Glassnode, cryptanalyst Will Wu pointed out that hourly purchases of BTC on exchanges are almost 20 times higher than the amounts attributed to miner sales. Another specialist, Lark Davis, also confirmed that only 27,000 BTC were mined in the last month, and as many as 145,000 coins left the exchanges. Moreover, most of them migrated to "cold wallets" as an object of accumulation.
    It should be noted here that, according to experts, the imbalance between BTC supply and demand will only increase, stimulating the growth of the coin. The reason is that the Chinese government has started a fight against the largest community of miners¬: Beijing has banned ICOs, cryptocurrencies are classified as unwanted speculation, and miners' bank accounts have begun to be blocked. This is despite the fact that more than half of bitcoins are mined in China at the moment.
    Returning to the results of the week, we note that Bitcoin Fear & Greed Index froze at 86 by the evening of Friday, November 20, in the zone that the developers of the index designated as "Extreme Greed". This value corresponds to the BTC/USD pair being strongly overbought and portends its correction.


    As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

    - EUR/USD. The US problems were described in the first part of this review. Considering scenarios for next year, Goldman Sachs predicts a 6% drop in the USD weighted rate in 2021, Citibank does not rule out that the dollar index could fall by 20%, and Morgan Stanley expects the EUR/USD pair to grow from the current 1.1800-1.1900 to 1.2500.
    Looking to the near future, experts also give preference to the European currency. Thus, 65% of them expect that the pair will break the resistance of 1.1900 in the coming weeks and reach the zone of 1.2000-1.2100. Accordingly, 35% of analysts expect a decline to the level of 1.1700-1.1750. The likelihood of a fall to the November 4 low of 1.1600 is estimated so far at only 10%.
    On the bulls side, there is a graphical analysis of 90% of trend indicators and 75% of oscillators on D1. The remaining 25% of the oscillators give signals that the pair is overbought. Closest supports are at 1.1740 and 1.1685 levels.
    As for the most important economic events of the coming week, one should pay attention to the data on business activity in Germany and the Eurozone, which will be released on Monday 23 November, to macro statistics from the United States, including GDP for the third quarter and data on orders for durable goods on Wednesday 25 November, and to the results of the meeting of the Federal Reserve and on Thursday, November 26;

    - GBP/USD. The October growth in consumer activity in the UK was most likely caused by the fact that the population was buying goods for future use before the coming lockdown. Therefore, it is possible that in November this figure will go into negative territory. Sales through online stores will not save it either. We should not forget the increasing likelihood of parting with the EU without a trade agreement. The leaders of European Union member states have already begun preparations for a hard Brexit, according to The Times newspaper.
    Analysts' opinion has so far been divided equally. But when switching from a weekly forecast to a monthly one, the scales tilt in favor of the bears, and 65% of experts do not bode well for the pound, expecting the GBP/USD pair to fall by 300-400 points.
    But the indications of technical analysis still look quite optimistic. 75% of oscillators, 100% of trend indicators on H4 and D1, as well as graphical analysis on H4 are colored green. An alternative point of view is represented by 25% of oscillators and graphical analysis on D1. Support levels are 1.3200, 1.3165, 1.3100, 1.3035 and 1.2855, resistance - 1.3310, 1.3400 and the August 1 high of 1.3480.
    As for macroeconomic indicators, we advise you to pay attention to the November Markit PMI, which will be published on November 23 and, according to forecasts, may fall by more than 15%, from 51.4 to 42.5;

    - USD/JPY. Until there is some clarity regarding the further monetary policy of the United States, the preferences of conservative market representatives will remain on the side of the Japanese currency. This is what at least 45% of analysts think, supported by 80% of indicators on both timeframes. 25% of experts have supported the growth of the dollar and the USD/JPY pair, and the remaining 30%, together with graphical analysis on D1, have taken a neutral position. Supports are located at 103.65, 103.15 and 102.00, resistance levels are 104.50, 105.15 and 105.70.
    As for the graphical analysis, it draws a rebound upward from the central line of the descending channel in the 103.40 zone on D1, and the pair's return to its upper border in the 105.40-105.65 area;

    - cryptocurrencies. Many investors are wondering if it is too late to buy bitcoins now. The Crypto Fear & Greed Index, together with other indicators, have been in the overbought zone for a long time, the pair has almost approached the cherished $20,000, and no serious correction has yet occurred.
    Actress Maisie Williams, who portrays Arya Stark in Game of Thrones, asked her Twitter followers if she should invest in bitcoin. More than 650 thousand users expressed their opinion, of which 50.7% answered in the affirmative, 49.3% - in the negative. The result is almost equal, which indicates a possible reversal of the downward trend.
    A number of specialists expect the BTC/USD pair to fall to support in the $15,700 zone. But there are also notorious pessimists who recall the catastrophe of 2018, when the price collapsed from an all-time high of $20,000 to $3.125.
    However, now the situation is somewhat different than in 2018. Bitcoin has proven not only its survivability during this time, but also its ability to generate colossal profits. Even Jamie Dimon, CEO of banking giant JPMorgan, admitted it. Now his analysts advise investing in this cryptocurrency, which Daimon had called "fraud and stupidity" back in 2017 Another giant is the PayPal payment system, which has only recently introduced a service for investing in cryptocurrencies, due to high demand, it has already doubled the limit, which has now reached $20,000.
    A forecast was presented by Tom Fitzpatrick, Managing Director of one of the largest banks in the world, Citibank. According to him, thanks to consolidation in the status of digital gold, the rate of the first cryptocurrency can reach $318,000 by the end of 2021. Fitzpatrick believes that the bitcoin market is now reminiscent of the 1970s, when dollar inflation led to increased demand for gold. In 1971, US President Richard Nixon carried out a series of reforms, abandoning the Bretton Woods system and pegging the dollar to gold. As a result, the price of this precious metal showed a steady increase over the next 50 years.
    In his new report, Bitcoin: Gold for the 21st Century, Fitzpatrick writes: "Bitcoin moved in the aftermath of the Great Financial Crisis of 2008, when new changes in the monetary regime took place and we dropped to zero interest rates." He notes that currently, financial stimulus measures against the backdrop of the coronavirus pandemic are leading to the formation of conditions similar to the 1970s.
    It seems that legislators in Washington are also turning to cryptocurrencies. While Beijing is putting pressure on its miners, new US Senator Cynthia Lummis plans to bring discussions on the first cryptocurrency to the national level. “21 million bitcoins will be mined and that's it, this is a limited emission. Therefore, I am confident that it will become an important player as a store of value over time” said Lummis.
    Robert Kiyosaki, a popular American entrepreneur and author of the bestselling Rich Dad Poor Dad, also agrees with the Senator. “Bitcoin's rise has outpaced gold and silver,” he wrote. - What does it mean? This means that you need to buy as much bitcoin and precious metal as you can and don't put it off. The train is already leaving. The dollar is dying. When the dollar falls, the price doesn't matter anymore. What matters is how much gold, silver and bitcoins you have.”
    As for the forecast for the coming days, the overwhelming majority of experts (80%) have supported the sideways movement of the BTC/USD pair in the $18,000-19,000 range. And only 20% expect it to fall below $18,000. No one has voted for the breakdown of the $19,000 resistance in the coming week. However, if we talk about the forecast before the end of the year, 70% of analysts agree that bitcoin can update historical highs.


    NordFX Analytical Group


    Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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    - Musician Sean Lennon, son of world star John Lennon of The Beatles, has sided with the Bitcoin. “If everyone continued to use gold now, then it would have to be carried in bags. In addition, it is much easier to steal such an asset. Cryptocurrencies are almost completely independent. People need freedom, which the authorities, banks and other departments are trying to take away. Bitcoin allows you to use your funds to the maximum,” says Lennon Jr.

    - Brad Garlinghouse, CEO of Ripple, has wished bitcoin luck. According to him, the entire industry will benefit from the growth of the main cryptocurrency, but a decrease in the correlation between assets can lead to new problems. Because of this, the head of Ripple has urged investors to have both bitcoin and altcoins in their portfolio.
    He has also noted that the rally in the basic cryptocurrency that began in November could indeed lead to new all-time highs. According to him, ill-wishers are now talking about a new pyramid, which could collapse at any moment. But according to Garlinghouse, bitcoin now has huge support from large investors, making a major correction almost impossible.

    - American rapper Logic bragged about $6 million in bitcoin investments to his fans. According to the artist, the funds were transferred to cryptocurrency last month. He first bought bitcoins worth $2 million then, after which he decided to make two more of the same transactions. Many social media users have agreed that Logic has already made good money, since a month ago the cost of bitcoin was significantly lower.

    - For the first time, the Lithuanian State Tax Inspectorate has sold the confiscated cryptocurrency worth 6.4 million euros. the assets include Bitcoin, Ethereum, and Monero. The funds received from their sale are directed to the state budget. Recall that in the United States, the Federal Marshals Service regularly holds auctions for the sale of cryptocurrency confiscated by law enforcement agencies. Also, soon the confiscated cryptocurrency will be put up for auction in Romania.

    - PayPal chief executive Dan Shulman believes bitcoin will ultimately be used more for day-to-day payments rather than a store of value. “The use of cryptocurrency in daily purchases will increase its functionality and stabilize it,” Shulman said, noting that during the coronavirus pandemic, the use of cash has dropped significantly. According to him, up to 70% of consumers no longer want to deal with them.
    PayPal opened access to Bitcoin and several altcoins for its customers earlier this month and is now working to integrate trading platforms. This will allow sellers of goods and services to accept digital payments as early as next year. Dan Shulman noted that before launching the service, the company held detailed consultations with world regulators.

    - The number of Ethereum addresses on which at least one ETH is stored has reached a historic high of 1.171 million addresses. Business for the leading altcoin took off in the summer, thanks to the growth of the decentralized finance sector (most of these projects were created on the basis of Ethereum). To date, investors have already invested $13 billion in the DeFi sector.
    Still, the current growth cannot be compared with the takeoff of the coin, which began at the end of 2017. Note that as of 01/01/2017, there were only about 66 thousand Ethereum wallets, and just a year later, when the price of ETH reached its historical maximum around $1300, there were already 873 thousand of them (an increase of 1223%).

    - On November 24, the price of bitcoin surged above $19,000 for the first time since December 2017. At the time of publication, the market capitalization of this coin has reached $357 billion and exceeded the capitalization of such a giant as investment bank JPMorgan (about $349 billion).
    Despite its CEO's skepticism about digital currencies, JPMorgan has already started serving cryptocurrency exchanges Coinbase and Gemini, and bank analysts have confirmed that a number of institutional investors are considering bitcoin as an alternative to gold.

    - Jaan Tallinn, co-founder of the telecommunications application Skype, has admitted in an interview with Fortune that he keeps a fairly large part of his personal fortune in cryptocurrency.
    Bitcoin has also been supported by the chairman of the messenger company Intercom, Eogan McCabe. "I would like to announce that after years of pampering, I jumped firmly on the bitcoin train and now I want everyone else to do the same."

    - Unknown people deceived the employees of the hosting provider GoDaddy and gained access to control over the domains of several cryptocurrency platforms. The attacks began on November 13, according to KrebsonSecurity.
    The first victim was the Liquid cryptocurrency exchange. The hosting provider handed over control of the account and domain to an attacker. Liquid chief Mike Kayamori said the hacker managed to partially infiltrate the platform system and gain access to the document repository.
    The second victim was the NiceHash cloud mining service: on November 18, experts found an unauthorized change of DNS settings in GoDaddy. NiceHash froze withdrawals for 24 hours until they were sure they were back to their original state.
    Supposedly, cryptocurrency companies Bibox, Celsius and Wirex were also victims of the attack.

    - Analyst Mati Greenspan believes that the current situation in the cryptocurrency market is qualitatively different from the situation that was observed three years ago. In 2017, the rise in the price of BTC to $20 thousand was the result of the entry of speculators into the crypto sphere. Now the market is controlled by corporations and large investors interested in its stability. The entry of large players leads to the fact that volatility will weaken, and this area will become more attractive, the analyst quotes the CNBC channel. Greenspan expects a further update of bitcoin highs as early as this year.

    - Wall Street veteran Max Kaiser believes the supply shock will drive bitcoin to rise to $1 million. “The demand for bitcoin is growing almost exponentially,” he says, “while its supply is mathematically fixed at 900 coins per day. And in 2024, the supply will be halved to 450 BTC per day.
    This is why I think that institutions that buy bitcoins will do it directly from miners, and people simply won't have the opportunity to buy coins as the price will skyrocket to $1 million per BTC. Meanwhile, Gen Z, who bought a lot of bitcoins when they were under $100, will become the new global power elite. The world order is about to change.”


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    Forex Forecast and Cryptocurrency Forecast for November 30 - December 04, 2020


    First, a review of last week’s events:

    - EUR/USD. Making a forecast for the past week, most experts (65%) preferred the European currency. Graphical analysis, 90% of trend indicators and 75% of oscillators on D1 also sided with the bulls. And this forecast turned out to be almost correct. “Almost”, because it was expected that, having broken through the resistance of 1.1900, the EUR/USD pair will reach the zone 1.2000-1.2100. However, it managed to rise only to the height of 1.1960 at the very end of the working week. Perhaps this is due to the weekend in the United States - Thanksgiving on Thursday November 26th and Black Friday on the 27th.
    The pair is pushed to growth by the improvement of the epidemiological situation in the European region. For example, France has already passed the peak of the second wave of the pandemic, and on November 28, a phased weakening of the existing restrictions begins. But there are also numerous global factors that make this pair's movement difficult to predict. The number of applications for unemployment benefits in the US last week was as much as 778 thousand - the worst figure in five weeks. This indicates a worsening economic situation. That being said, Republicans and Democrats still have no way to agree on the amount of additional stimulus payments under the QE program. And incumbent President Donald Trump does not want to cooperate with the opposite camp at all.
    As for the timing of the appearance of the vaccine against COVID-19 and how vaccination will affect the recovery of the economies of the Old and New Worlds, there is no clarity, only guesses. The assessments of experts are diametrically different about the decision of the US President-elect Joe Biden to appoint the former head of the Fed Janet Yellen to the post of Treasury Secretary, Markets hoped that some guidelines would be suggested by the minutes of the meeting of the US Federal Reserve Committee on Open Markets. But there was not much clarity in it either, only an indecisive discussion of the asset purchase program. We quote: “Most of the participants believed that the Committee should update the forecast of actions over time and apply results-oriented guidance of a qualitative nature”. Well, and then everything is in the same style.
    So far, the only indisputable thing is that the dollar index dropped from the March highs by more than 10% as a result of the Fed's monetary policy, reaching a two-year low, and the EUR/USD pair returned to the values of mid-August 2020. These facts are beyond doubt;

    - GBP/USD. The result, which, due to general uncertainty, including negotiations on Brexit, was shown by this pair, can be called zero. Three weeks of November marked the Pivot Point at 1.3300. But if this line performed the function of resistance for the first two weeks, then it turned into support. The pair spent the entire five-day period in a lateral trend in a fairly narrow range of 1.3300-1.3400, and finished the trading session at its lower border;

    - USD/JPY. The yen has made its unconditional contribution to the fall in the DXY dollar index. Its strengthening and the entry of the USD/JPY pair into the downward channel started at the end of March this year, in parallel with the spread of the coronavirus epidemic around the world. And in search of a safe haven currency, investors once again turned to the Japanese currency.
    The pair not only kept within this channel last week, but also narrowed its trading range to 100 points in its upper half. As for the final indicators, they turned out to be even less - having started the five-day week at 103.80, it ended it at 104.05, showing an increase of only 25 points;

    - cryptocurrencies. This time we will skip the introduction, like crime news, and immediately move on to the most important thing. Bitcoin being overbought is something we've written about on numerous occasions, something that has long been warned about by indicators including the RSI and Crypto Fear & Greed Index. Everything indicated that the market urgently needs a correction. And so it happened: the BTC/USD pair fell down, and now traders and investors are concerned about only two very important issues. 1) If this is a correction, at what level will it end? And 2) Is this a correction, and will the disaster that occurred with bitcoin in December 2017 happen again? Recall that then, getting close to $20,000, the pair turned sharply and found itself in the $3.125 region a year later, shrinking more than 6 times.
    The current rally of the main cryptocurrency started in the first decade of September from the $10,000 area and was stopped on November 25 in the area of $19,500. This was followed by a collapse, and the local weekly low was fixed the next day at $16.280. After a slight rebound, BTC was quoted in the $17,000 zone on the evening of Friday 27 November.
    At its peak on November 25, the total capitalization of the crypto market was $582 billion, but on Friday 27 November fell to $500 billion, losing 14%. This movement is fully correlated with the BTC/USD quotes. Much more interesting is that the Crypto Fear & Greed Index is still at 86 as it was seven days ago, and continues to indicate that the pair is strongly overbought. So, it is entirely possible that bitcoin has not yet completed its journey south.
    As for altcoins, a number of them have recently shown more positive dynamics than the reference cryptocurrency. So, if the BTC/USD pair lost about 11% over the past seven days, the ripple (XRP/USD), for example, on the contrary, grew heavier by almost 70%, while ethereum (ETH/USD) ended this period with a zero result. Note that the leading altcoin still has good growth prospects. Business for the leading altcoin took off in the summer, thanks to the growth of the decentralized finance sector (most of these projects were created on the basis of Ethereum). To date, investors have already invested $13 billion in the DeFi-sector, and the number of wallets on which at least 1 ETH is stored has reached a historic high of 1.171 million.


    As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

    - EUR/USD. We spoke about the fog that has covered financial markets in recent weeks, in the first part of this review. And even the appearance of a vaccine against COVID-19, for all its obvious usefulness, is unclear how it will affect the exchange rate of a particular currency. Indeed, the degree of damage to the economies of different countries by the coronavirus is different, and the speed of their recovery will also differ. Undoubtedly, the policies that the new US administration under the leadership of Joe Biden will carryout will play a huge role, including domestic policy and the end of trade wars with Europe and China. Considering scenarios for next year, Goldman Sachs predicts a 6% drop in the USD weighted rate in 2021, Citibank does not rule out that the dollar index could fall by 20%, and Morgan Stanley expects the EUR/USD pair to grow from the current levels to 1.2500.
    Most experts (60%) expect the pair to grow in the coming week as well. 100% trend indicators and 75% of oscillators on both H4 and D1 side with them. The nearest goal is still the same: to overcome the September 01 high and consolidate in the zone of 1.2000-1.2100.
    The opposite point of view is supported by the remaining 35% of analysts, graphical analysis and a quarter of oscillators that give signals that the euro is overbought on both timeframes. Support levels are 1.1880, 1.1800, 1.1740 and 1.1685.
    Among the macro-events of the week, we can note the publication of data on business activity (ISM) on December 01 and 03, as well as data on the US labor market on December 02 and 04. In addition, we will find out the statistics on the consumer market of the Eurozone on Tuesday 01 December and Thursday 03 December. Also, the speeches of the head of the ECB Christine Lagarde on November 30 and December 1, as well as the head of the Fed Jerome Powell on December 1, may also influence the formation of short-term trends;

    - GBP/USD. The general tendency towards the weakening of the dollar affects the forecasts for this pair as well. 75% of analysts predict its growth first to the upper border of the channel 1.3300-1.3400. Perhaps it will be able to break through the resistance of 1.3400 and rise another 80-100 points higher, but only 30% of experts vote for this. Graphical analysis on H4 and 90% of oscillators and trend indicators on D1 also side with the bulls.
    Indicators on H4 give a mixed picture. But graphical analysis on D1 showed that, after several days of movement in the 1.3300-1.3400 corridor, the pair may decline to 1.3200, after which it can return to the upper border of this corridor and even reach the September 1 high at 1.3480.
    Support levels 1.3175, 1.3100 and 1.3000;

    - USD/JPY. Albeit minimal, but still the growth of this pair last week made analysts think about its transition from a downward movement to a sideways movement. So, 60% of them assumed that it would move east in the range 103.70-105.30 for some time. Such a scenario is supported by graphical analysis on D1 and only 10% of oscillators giving signals that the pair is oversold. In case of a breakout of the upper border of the channel, the pair will meet resistance at 105.70, then at 106.15.
    The remaining 40% of experts, along with graphical analysis on H4, as well as 100% of trend indicators and 90% of oscillators on both timeframes, side with the bears, indicating the direction to the south for the pair. The first support is 103.70. It is followed by the 09 November low at 103.15, which corresponds to the center line of the descending medium-term channel. The ultimate target of the bears is the 2020 low, which the pair reached on March 09, at 101.17;

    - cryptocurrencies. If you look at the charts, you can see that the current situation is very similar to what it was in December 2017. At the same time, many experts say that the market is no longer the same, and that the collapse of three years ago is unlikely to repeat. Indeed, there is a growing acceptance of bitcoin by both private depositors and large institutional investors. Indeed, against the background of the coronavirus pandemic, the mass of fiat is growing, which increases the popularity of bitcoin as a protection against inflation. But what if the current fall is caused by the fact that large speculators simply started taking profits ahead of the end of the year? What if the stop orders set near the historic high have already started to work?
    According to CoinTelegraph, shortly before the collapse, the All Exchanges Inflow metric showed an increase in BTC placement on exchanges, which clearly indicates the intentions of whales to start selling their crypto assets. But after the whales, looking at the current situation, many retail investors will follow. Moreover, Christmas holidays are not far off, and this is a period of increased need for fiat.
    So there are plenty of resons for the further fall of the BTC/USD pair. But no compelling reasons for new growth are foreseen at least until early 2021. Although, of course, the pair's jerks to the north are quite possible. Some of the major speculators may try to play bullish, or, for example, the Chinese government will deal another blow to its miners, creating a supply shortage in the crypto market. All of this could push the quotes back up.
    Looking ahead, it is appropriate to quote the opinion of the analyst Mati Greenspan. He believes that, unlike in 2017, the market is now controlled not by speculators but by corporations and large investors interested in its stability. The entry of large players leads to the fact that volatility will weaken, and this area will become more attractive. In connection with the above, Greenspan, like many other experts (there are now 65% of them), expects a further update of the bitcoin highs already this year.
    In the meantime, the market is interested in the level at which the current correction will end. In general, is it a correction or a global trend reversal downward? In addition to the $17,000 zone, in which there was a consolidation at the end of the last working week, the next strong support may be the November 26 low in the $16,000-16,300 area, which fits within the Fibonacci correction. However, if the pair overcomes this support confidently, then it will return to the $14,700-15,700 zone, where it stayed in the first decade of November and from which the last stage of the upward rally started.
    And at the end of the review, one more, already global, forecast from Max Kaiser. This Wall Street veteran believes the supply shock will drive bitcoin to rise to $1 million. “The demand for bitcoin is growing almost exponentially,” he says, “while its supply is mathematically fixed at 900 coins per day. And in 2024, the supply will be halved to 450 BTC per day. This is why I think that institutions that buy bitcoins will do it directly from miners, and people simply won't have the opportunity to buy coins as the price will skyrocket to $1 million per BTC. Meanwhile, Gen Z, who bought a lot of bitcoins when they were under $100, will become the new global power elite. The world order is about to change.”


    NordFX Analytical Group


    Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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    broker ko chunnay say pehlay hamain bohat si chezoon ka khayal rakha chaheay jesay kay iss ki market main position kay hai iss ka payment ka tariqa kaar kitna acha hai aur iss ka spread kitna ye sab kuch broker kay pas hona zarori hai

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    CryptoNews


    - Experts agree that Bitcoin will be able to withstand the pressure of banks and reach a new level. According to one of scenarios, the correction of the main cryptocurrency from $19,480 to $16,280, which was fixed last week, is associated with the decision of the US President Donald Trump Administration to tighten control over the circulation of digital assets. Officials chose to change the rules for registering cryptocurrency wallets as one of the ways to manage transactions.
    Many crypto companies have already begun developing new versions of wallets, which will receive permits from the US Securities and Exchange Commission before launching. Trump is probably trying to resist China in this way, which is preparing to release its own cryptocurrency. If the digital yuan becomes a cross-border payment instrument, it can be used instead of the dollar. This will make sanctions against China ineffective, and Washington will lose the ability to put pressure on Beijing.
    “Bitcoin has an indirect relationship to everything that happens, but even the first statements by representatives of the American government about the desire to start controlling the industry brought it down by several thousand dollars in a matter of hours. But I do not think this will lead to serious problems, as the market has already managed to recover from the correction,” said Mark Yusko, the head of Morgan Creek investment company. Moreover, according to experts of Stack Funds, this correction is not only “healthy”, but also will allow bitcoin to prepare for a new high of $86,000.

    - According to Mike Novogratz, head of the Galaxy Digital crypto trading bank, everyone should invest 2-3% of their funds in bitcoin. “After that, it is enough to wait a little time, and you will be surprised, but cryptocurrencies will cost significantly more. If you wait five years, the assets will multiply several times,” he wrote. According to the head of Galaxy Digital, bitcoin volatility can be expected in the near future, but it is unlikely to sink below $12,000, and even a correction to such levels is unlikely.

    - An unknown user received 7 Ethereum coins (about $4,200 at the time of writing) for a solved puzzle that began with a billboard in the Warsaw subway. An ad with an ethereum address and hashtags #0xPOLAND and #0xPOLANDHEIST appeared at one of the metro stations and urged passengers to solve the puzzle hiding the secret phrase for withdrawing funds to ETH. The tips were posted on a Twitter account called 0xPoland. The final clue appeared in the print and electronic editions of Gazeta Wyborcza.
    The organizers explained that they wanted to invite people to join their team "to create a decentralized financial infrastructure."

    - Authorities in Delaware County (Pennsylvania, USA) paid hackers $500,000 in bitcoins after the county's information systems were attacked by the DoppelPaymer ransomware virus. The extortionists gained access to police records, payment documents, procurement information and other databases, however, it is argued that the attack did not affect the voting systems. After getting the ransom, the hackers advised authorities to change passwords and gave recommendations for configuring the Windows domain.

    - The number of addresses containing more than one bitcoin is growing steadily and has exceeded 820 thousand. These wallets hold 95% of the total digital gold market volume. This is evidenced by data from analytics companies Glassnode and BitinfoCharts. Smaller addresses store about $16 billion of digital gold. There are 32.6 million addresses with non-zero balance in the world.

    - The value of bitcoin could surpass the $500 thousand mark, the founder of the Gemini crypto exchange Tyler Winklevoss, one of the twin brothers who was called the first cryptocurrency billionaires, told CNBC. He called the current price of the main digital coin “an opportunity to buy” as it could rise in price by 25 times in the future. “Bitcoin will surpass gold. If this happens, the capitalization of this cryptocurrency will exceed $9 trillion,” predicted Tyler Winklevoss.
    It became known in summer 2020 that the Winklevoss brothers are planning to make a film about their history of investing in cryptocurrency. Ben Mezrich's biographical book "Bitcoin Billionaires" will be filmed for this purpose.

    - Global Macro Investor CEO Raul Pal has placed an order to sell all of his gold to invest in BTC and ETH at an 80/20 ratio. He announced this on Twitter and clarified that in addition to gold, there are some bonds and US dollars in his portfolio.
    The head of Global Macro Investor expects that even conservative institutional investors, who usually prefer precious metals, will start investing in bitcoin next year. Therefore, Pal made the bold assumption that the rate of the first cryptocurrency cad reach $250,000 in a year.

    - A message from South America: the Venezuelan army is mining cryptocurrencies. A Digital Asset Mining Centre for the Armed Forces of the country has opened in Caracas. An area on the territory of the Fort Tiuna headquarters was allocated for the Centre. The military called the creation of a mining center" an unblockable source of income" and an example of cooperation with the civilian sector.
    The amount of computing power has not been specified, but it is known that
    the Venezuelan National Guard has previously detained a truck with 315 mining blocks from Bitmain. The equipment was confiscated and has apparently become the basis for a new military crypto facility.

    - Joe Biden's administration should focus on integrating bitcoin into the US financial system instead of creating a digital dollar like China. This is the opinion of Niall Ferguson, a former professor at Harvard and Oxford and now a senior researcher at Stanford.
    In a new article, the world-renowned economic historian looked at the US dollar, gold and bitcoin as the monetary revolution continued, accelerated by the COVID-19 pandemic. Drawing parallels with the plague of the 14th century, the historian noted that the pandemic let digital gold cover a decade-long path in only ten months. And this happened not only because of the closed banks, but also due to the tightening of financial supervision.

    - Payment system Visa has entered into cooperation with crypto startup BlockFi to launch a credit card with cashback in bitcoin in early 2021, writes Bloomberg. Users of the "Bitcoin Rewards Credit Card" product will receive a cashback of 1.5% of the amount spent in BTC and will also receive $250 in cryptocurrency once they spend more than $3,000 in the first three months. The rewards earned will be automatically transferred to the client's account in BlockFi, where they will be available for various transactions or withdrawal to a third-party wallet.


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    NordFX Sums Up November Results: TOP 3 Most Successful Traders


    NordFX brokerage company has summed up the performance of its clients' trade transactions in November.

    The maximum profit for that month was received by a client from Vietnam, account No.1416xxx. The client's profit of 40.153 USD was obtained mainly from transactions with the EUR/AUD currency pair and gold (XAU/USD).

    Second is the trader from India (account No.1485xxx), whose profit was just under 40 thousand dollars (38.930 USD), and was obtained through trading on many pairs, including GBP/USD, USD/CHF and GBP/NZD.

    The third place in the November TOP 3 belongs to the Vietnamese trader (account No. 1511xxx), with a result of 15.925 USD, who traded in the NZD/USD, AUD/USD and XAU/USD pairs.

    The passive investment services in November:

    - in CopyTrading, the signal provider under the nickname 78XGaming showed the maximum growth with a fantastic result of + 1539% with a drawdown of 79%;

    - in the PAMM service, the results are much more modest. Here the manager with the nickname ProCapital became the leader, showing an increase of 15.51%. However, the drawdown here was significantly lower, only 9.8%, which can be attractive for investors who prefer stable income with a moderate degree of risk.


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    https://nordfx.com/

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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