The British Pound Pushes Higher, Backed by EU/UK Negotiations and Vaccine Optimism The Pound opened the week on a positive note, showing strength against its major counterparts and moving above 1.3350 against the greenback, trading at 1.3370 at the time of writing. Most of this strength was generated by optimism coming from two fronts: EU/UK […]
Litecoin Is Lagging The Market Litecoin is up more than 30% over the last 7 days, and almost 12% over the last 24 hours, climbing steadily since September 20th. It recently broke the resistance at $80 and it is now testing the highest price reached in 2020. The recent Bitcoin rise dealt a blow to […]
Brexit Negotiations Are Making Progress, Too Brexit negotiations are still underway but a recent development may prove to be beneficial. Dominic Cummings, Chief Advisor to Prime Minister Boris Johnson and an influential figure in the vote to leave campaign, has decided to resign. The market interprets this as a positive thing and possibly something that […]
Paypal Goes Crypto As of November 12, 2020, PayPal’s news section reads: “We are pleased to announce that all eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal.” According to the same press release, the waitlist for clients looking to use crypto is now gone and the limit […]
The Dollar Comes Under Pressure The US Dollar lost ground against its major counterparts throughout last week, as the Biden – Trump political battle unfolded. However, global stocks were boosted by expectations that trade ties around the world would become stronger following Joe Biden’s victory. Considering the trade war waged by the Trump administration, especially […]
FOMO Starts to Kick In! Bitcoin is pumping once again and is now trading comfortably above $15K. It successfully cleared the resistance at $13,800 (June 2019 high) and is now sitting at levels last reached in January 2018. The US Dollar on the other hand is losing ground and looks strongly affected by the turmoil […]
Presidential Election, Interest Rates, and New Lockdown Measures The week ahead is shaping up to be one of the busiest of the entire year, with major events across the board. The Presidential Election will be the highlight for the United States, alongside the FOMC policy meetings and if that’s not enough, the week finishes with […]
ECB Announces New Stimulus Package Bitcoin traded above $13,000 for the most part of the current week, reaching prices north of $13,800 on some exchanges. The biggest pullback of the week occurred Wednesday, as investors across the world were troubled by reports of an increase in COVID-19 cases and new lockdown measures adopted by some […]
Pound Still Dependant on EU and UK Trade Deal Negotiations. Sentiment towards the greenback remained rather neutral over the past week, as investors and traders took a cautious approach to the markets, mostly due to US fiscal stimulus talks and the approaching of the Presidential election. On the other side of the pond, there’s increased […]
This Rally In Bitcoin Is Real PayPal, the giant e-wallet provider has recently announced they will be welcoming Bitcoin, Bitcoin Cash, Ethereum, and Litecoin transactions on the platform. But while this created a generally positive vibe around Bitcoin, some voices expressed concern regarding PayPal’s centralized business model and the narrow freedom given to crypto users. […]