VISA Boards the Crypto Train Ethereum’s long-anticipated London hard fork, which will introduce the EIP-1559 upgrade, has been deployed on the Rinkeby testnet. This is the final test environment and the full London upgrade is scheduled at block 12965000, which is estimated to be reached on August 4. According to Ethereum developer Tim Beiko “All […]
Potential Influx of 350 Billion Euro into the Bitcoin Pool. Today a German law approved earlier in April this year is coming into effect and could potentially generate a massive influx of capital into the crypto market. The new law allows institutional funds to allocate up to 20% of their holdings into crypto and considering […]
Range-Bound Trading Ahead The EUR/USD pair settled just a few pips below the technical level at 1.1970, which has rejected climbing prices twice in the last few days. The pair is showing signs of indecision, as price action has slowed down and long-wicked candles have appeared. Last week’s softer than expected U.S. inflation numbers didn’t […]
Salvadorans, Rejoice. Free Bitcoin for All! As most of you probably know by now, a bill was recently passed in El Salvador, giving Bitcoin the status of legal tender in the country. The law will come into effect in September and all businesses will have to accept Bitcoin as a form of payment, alongside the […]
Fed Signals Sooner-Than-Expected Tapering The US Dollar Index (DXY) gave back some gains on Monday and slipped to 92.115 from a 92.405 high reached Friday on the back of a surprise hawkish switch by the Fed. The dollar jumped almost 2.0% last week (which marks the biggest gain since March of 2020), as investors rushed […]
El Salvador Was First To Embrace Bitcoin Recently we’ve learned that El Salvador passed legislation that made Bitcoin legal tender in the country, which means that the flagship cryptocurrency will be accepted as a form of payment at all businesses, just like the US Dollar. News surfaced today that Carlitos Antonio Rejala Helman, a Deputy […]
Fed Meeting Eyed for Next Direction Last week’s inflation data gave a surprising boost to the US Dollar, as Thursday’s report showed the CPI and the Core CPI had improved 0.6% (expected 0.4%) and 0.7% (expected 0.5%), respectively. As a result, the US Dollar posted the biggest weekly gain in about a month and EUR/USD […]
Bitcoin – Legal Tender in El Salvador! At the Bitcoin 2021 Conference that took place last weekend, El Salvador’s President Nayib Bukele announced in a pre-recorded video message that he would propose a bill aiming to make Bitcoin legal tender in El Salvador. Tuesday the bill passed with a vast majority (62 votes out of […]
U.S. Jobs Miss the Mark Again The dollar opened the week on the defensive, trading below the resistance at 1.2200 against the Euro. The weakness was mostly due to the disappointing jobs data that came out Friday, as the Non-Farm Payrolls report showed that only 559K new jobs were created during the previous month, while […]
Bitcoin Falls $40K as Musk Fires Ambiguous Tweets 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 pressure on $40,000, […]