Ethereum Hits New Landmark amid Deflationary Pressure Wednesday, November 3, Ethereum printed a fresh All-Time High at $4,668, successfully surpassing previous tops and establishing support at the key level of $4,500. The second-largest cryptocurrency by market cap has been on a bull run since late September, due in part to the network upgrades that take […]
NFP May Spark Major Moves The greenback made massive advances on Friday after the Fed’s favorite inflation measure showed that inflation is accelerating, thus making the case for earlier interest rate hikes. The Personal Consumption Expenditures (PCE) price index increased by 0.3% on a month-over-month basis, bringing the yearly inflation to 4.4% (fastest gain since […]
ATH Broken. It’s Ethereum’s Time to Shine! On October 29, the second-largest cryptocurrency by market cap broke its previous All-Time High and set a new one at $4,405. The previous top is located at $4,373 and was reached on May 12 this year. If we compare the two, we can see that the Relative Strength […]
ECB Policy Makers Likely To Keep Monetary Settings Unchanged The Euro edged higher against the US Dollar, although last week the pair traded mostly sideways, above resistance turned support. The dollar was affected by news that China’s Evergrande avoided a default, which boosted the appetite for riskier assets. However, some of the losses were erased […]
Bitcoin Reaches All-time High and Multi-Year Low – All Within 2 Days The last couple of days have been a roller-coaster ride for the flagship cryptocurrency: on October 20, it reached a new all-time high at $66,909 according to CoinMarketCap data and on some exchanges, it climbed as high as $67,016 (Bitstamp). But… one day […]
Get Ready For A Big Move In The Dollar The US Dollar rallied against its major counterparts since September, fueled by expectations that the Fed is set to begin tapering of the monetary stimulus sooner than initially expected, due to positive signs shown by the economy. Last week the Fed released the Minutes of the […]
Bitcoin Futures ETF in the Works. The Battle for the ATH Is On Today Bitcoin reached $60,000 for the first time since April and looks poised for additional gains as bullish pressure is mounting. The reason: the U.S. Securities and Exchange Commission (SEC) is likely to allow the first U.S. Bitcoin futures ETF to begin […]
Tapering Timeline Unflustered By Soft NFP Report Despite a disappointing U.S. Non-Farm Payrolls report released Friday, the US Dollar remained largely unfazed, as the majority of market participants are still hawkish on the start of the asset purchase tapering in November or December. The U.S. added only 194K new jobs last month, which is way […]
Breakout! Bitcoin has finally managed to break key resistance and to print a new significant high above $55,500, successfully surpassing the early-September peak at 53,000. At the time of writing, the flagship cryptocurrency is up 23.55% for the last 7 days and continues to move north, which could mean that $59,000 resistance is the next […]
The U.S. Jobs Data Last week the US Dollar climbed to a 14-month high against the Euro, as market participants estimated that the Fed will raise rates before the other central banks, and positive U.S. data came out. The Core PCE Price Index exceeded expectations, showing a 0.3% increase, while the ISM Manufacturing PMI posted […]