Bitcoin Falls $40K as Musk Fires Ambiguous Tweets By Bogdan Giulvezan Since Tesla kingpin Elon Musk expressed concerns regarding Bitcoin’s environmental impact, the flagship digital currency has been on a skid, losing more than 40% compared to April’s high at $64,800. Yesterday, Bitcoin managed to break the $39,000 barrier but wasn’t able to put any […]
Will NFP Fall in Line With Expectations or Are We in for Another Shock? by Bogdan Giulvezan To say that the US Dollar did not have a good May would be an understatement. It lost ground against most of its major counterparts but especially against the British Pound, as GBP/USD is currently trading at 1.4180, […]
Where Are the Cryptobulls Bulls? The flagship cryptocurrency recovered from $30,000 lows but recent gains are now evaporating as $40,000 is proving too strong for the bulls to break. Currently, BTC is changing hands for 36,600 US Dollars per unit but that price may not be available for long and the pair seems prepped for […]
Amid Increased Volatility and Unclear Direction Throughout the past week, there was a burst of volatility yet the direction remained uncertain as the US Dollar struggled against the Euro and the rest of the major counterparts. Fed’s Meeting Minutes released last Wednesday showed no clear intention to taper bond purchases and Fed Chairman Powell commented […]
The Tesla Snowball Keeps On Rolling Since Elon Musk’s tweet “We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions […] cryptocurrency is a good idea on many levels and we believe it has a promising future but this cannot come at great cost to the environment”, Bitcoin has been […]
U.S. Inflation Up, Retail Sales Down, The greenback bounced higher last Wednesday as both the Consumer Price Index and Core CPI posted higher than expected values: a 0.8% change for the former and a 0.9% change for the latter, while the forecast was 0.2% and 0.3% respectively. U.S. Retail Sales and Core Retail Sales (this […]
Bitcoin’s $50K Tug-of-War and the Double Bottom Springboard by Bogdan Giulvezan Since Wednesday’s big drop, Bitcoin has been hugging the $50,000 level in what looks like a tug of war between the bulls and bears. It is currently trading at $49,950, after rebounding from $45,700 lows. The initial drop was mainly caused by the “breakup” […]
Focus Shifts towards Inflation Numbers The Non-Farm Payrolls report released Friday not only disappointed but also shocked the US Dollar bulls by showing that only 266K jobs were created during April, while the anticipated number was 990K. disclaimer – The NFP is a highly flawed data point. It is the difference of two faulty estimates […]
Citi Considers Adding Crypto Services by Bogdan Giulvezan According to a report from the Financial Times, the banking giant Citigroup Inc. is currently weighing the possibility of offering cryptocurrency services to its clients. At the time of writing it is not clear if the bank will add these services but the options on the table […]
NFP Data Could Green Light Additional Gains by Bogdan Giulvezan April was a rough month for the US Dollar, as the DXY finished the month with a 2% decline; the index was facing a 3% monthly drop but the last day of April saw the greenback rejuvenated and making solid gains against most of its […]