The purpose of this website is to be a place for learning and discussion. The website and each tutorial topics do not encourage anyone to participate in trading or investment of any kind.
Any information shown in any part of this website do not promise any movement, gains, or profit for any trader or non-trader.

.

Author Topic: Daily Market Analysis from NordFX  (Read 24021 times)

Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #255 on: September 21, 2022, 03:16:42 PM
CryptoNews of the Week


- Analytical software provider MicroStrategy purchased an additional 301 BTC for $6 million. This is stated in the report submitted to the SEC. Michael Saylor, founder and ex-CEO of the company, said that purchases were made between August 2 and September 19 at an average price of $19,851 per BTC. MicroStrategy's previous investment in the first cryptocurrency took place in June: the firm purchased 480 BTC worth about $10 million.
MicroStrategy and its subsidiaries currently own 130,000 BTC, purchased at an average exchange rate of $30,638 per coin. Thus, unrealized losses on this investment exceed $1.5 billion.

- The monetary policy of the US Federal Reserve has led to the emergence of "tumors" like bitcoin. This was stated by the philosopher and author of the cult work “Black Swan” Nassim Taleb. “I believe we had 15 years […] of Disneyland which basically destroyed the economic structure. The Fed missed the mark by cutting interest rates too much. Zero interest for a long period of time damages the economy, bubbles are created, tumors like bitcoin are created,” he said, calling for a return to “normal economic life.”

- Willy Woo, a well-known bitcoin investor and analyst, believes that the BTC rate is being held back for political reasons. As he noted, it is currently theoretically possible to sell unlimited amounts of BTC due to futures contracts, although in reality the offer is limited to 21 million coins. “Futures markets can control the BTC rate,” the investor says. “CME (Chicago Mercantile Exchange) has set up a kind of bitcoin stabilizing speculation where you can play in US dollars. Wall Street hedge funds loved it. What are the current restrictions on the sale of bitcoin? None, because fiat has no restrictions.”
Woo believes that due to the structure of the futures market, major players can suppress BTC by exerting pressure in the form of selling an asset: “Bitcoin should not be killed. Just the ability to short BTC is enough to suppress the exchange rate. Bitcoin will not be able to make a global impact without a high price. The SEC's policy is now aimed at increasing liquidity and the predominance of futures by approving futures ETFs, while spot ETFs are being rejected. Everything has turned into a political game now.”

- Nicholas Merten, an analyst and founder of DataDash, believes that after BTC's unsuccessful attempt to stay above $19,000, it will fall to $14,000. In his opinion, this is influenced by both technical and macroeconomic factors.
Thus, BTC's 200-week moving average (WMA) has become a resistance level, not a support level. Bitcoin has almost always remained above this indicator throughout its existence, with rare breakdowns to the downside, marking the bottom of the cycle. Currently, the 200-week WMA is around $23,250, and bitcoin is struggling to rise above this level.
Merten concluded that BTC's recent exchange rate movement could signal the end of a 10-year bull market, and it can no longer be a leading asset compared to other commodities and stocks. According to the analyst, the next bottom of BTC could be around $14,000, which would mean an 80% correction from the all-time high, as in the case of previous bear markets. “$14,000 is a potential low at the moment. However, investors should consider an even sharper fall to $10,000.”
As for ethereum, Merten expects the asset to retest the $800-$1,000 range, although he doesn't rule out a move lower.
The decline is facilitated by the actions of the Fed, whose hawkish monetary policy caused the collapse of the cryptocurrency and stock markets in 2022. Despite the potential dangers to the economy, Merten does not expect the US Central Bank to stop raising rates until a confident victory over inflation.

- An analyst with the nickname DonAlt believes that BTC will update the lows of 2022 against the backdrop of weak stock market performance. He predicts a fall below the $18,000-20,000 range and a new cycle low. “It often happens with such ranges that after it is broken, an increase occurs. And now there is a good chance to break through the $18,000-20,000 range and then form a bullish momentum. The only question is how low bitcoin can go because it can easily go all the way to $15,000.” “My forecast is based on the S&P 500 and looks terrible,” DonAlt writes. “It looks like this index is in for a serious drop and a return to support at 3680.”

- The ongoing cryptocurrency bear market is unlike any before it as the Fed is running the ship this time around. Ethereum has fallen by about 15% since September 15, the completion date for The Merge update. Bitcoin has fallen by about 3% over the same period.
Ethereum’s price had roughly doubled from its yearly lows in June, by far outpacing bitcoin’s rise, ahead of the network upgrade. And Vijay Ayyar, vice president of the Luno crypto exchange, believes that the Merger had already been “factored into the price” of ETH, and “the actual event has become a “news selling” situation.
Traders are now moving investments from ethereum and other altcoins back to bitcoin, Ayyar said, “as bitcoin is expected to do better in a few months.” At the same time, the specialist believes that any “change in the macroeconomic environment in terms of inflation or unexpected interest rates” could lead BTC to fall below $18,000, and the coin will test levels up to $14,000.

- Investors are wondering if ethereum’s regulatory status could change after the Merge. The reason for concern was the words of Gary Gensler, Chairman of the US Securities and Exchange Commission. This official said last week that cryptocurrencies operating under the Proof-of-Stake model that applies to ETH can be classified as securities. Thus, these assets fall under the competence of the regulatory authorities. Gensler did not specifically name ethereum, but it is clear that in this case, the coin will attract close attention of the SEC.

- Takis Georgakopoulos, head of the payments division at JPMorgan investment bank, said that customer demand for cryptocurrencies has plummeted over the past six months. Most likely, the situation is related to the fall of the crypto market, which dragged on for several months. More than $2 trillion has disappeared from the market. Well-known companies working with digital assets are on the verge of bankruptcy. For example, Celsius and Voyager Digital filed for bankruptcy in July due to lack of liquidity.
Recall that JPMorgan strategists recommended at the end of August that investors focus not on cryptocurrencies, but on stocks and long-term bonds until the economic situation stabilizes.

- Bloomberg Senior Analyst Mike McGlone is convinced that market signals indicate that the value of bitcoin is growing. The expert compared the current fall in cryptocurrency quotes with the fall of the NASDAQ index in 2002 and subsequent stable growth over a long period of time. Mike McGlone argues that bitcoin will benefit from a "new chapter in the economy" in which speculation is driven by more than just how much money the Fed is printing. “The days when unsustainable companies could exist are over. Now, if a business doesn't work, it's sinking. And this is good, because now that the market has cleared after a wave of bankruptcies, it is open to solid business,” he said.

- Central Bank Governor Patrick Njoroge complained at a meeting of the Kenyan Parliament that even in his inner circle there are many people who are trying to convince him to convert reserves countries into bitcoins. The official called the idea insane. And he added that if the country takes the path of legalizing bitcoin, he will oppose it, even under the threat of going to jail. “Can cryptocurrencies be called the best means for making settlements and payments? Are cryptocurrencies safer than a bank account? The answer is no," the governor of the Kenyan Central Bank said.
It is worth noting here that many Central Banks like to keep their reserves in gold bars. And according to a survey conducted by Paxos among regular buyers of physical gold, almost a third of respondents consider BTC as the best alternative to the precious metal. So the idea under discussion might not be that crazy.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #256 on: September 25, 2022, 07:48:46 AM
Forex and Cryptocurrencies Forecast for September 26 - 30, 2022


EUR/USD: In Search of a New Bottom

Last week, all the attention of the markets was focused on the FOMC meeting of the US Federal Reserve, which took place on September 21. The probability of another rate hike by 75 basis points (bp) had been estimated at 74%, and by 100 bps at 26%. The first forecast turned out to be correct: the rate was increased from 2.50% to 3.25%. But this was enough for the DXY dollar index to fly up and exceed 113.00 points, updating another 20-year high. Accordingly, as expected by the majority (75%) of experts, EUR/USD has renewed another 20-year low, reaching the bottom at 0.9667.

Russian President Vladimir Putin contributed to the weakening of the euro and the fall of the pair, announcing the mobilization of part of the military reserve to reinforce the Russian troops that invaded Ukraine. Mr. Putin also repeated the threat to use nuclear weapons, which further increased tension in the region. In addition, the heating season begins in Europe, and Russia continues to put pressure on it, using problems with energy supplies as a "weapon".

At the last meeting, the Fed gave the markets a clear hawkish signal about its next steps. It will continue its quantitative tightening (QT) policy, including reducing its balance sheet, and the interest rate will remain high in 2023. As for the current year, 2022, according to CME Group estimates, the probability that it will exceed 4.00% by the end of Q4 is almost 60%.

According to US Central bank officials, defeating inflation is now a priority. To implement it, the regulator is ready to accept the threat of a recession, including a drop in production and consumption, as well as problems in the labor market.

Investors fleeing risks on side with the dollar as a safe haven. US stock indices have been going down for the second week in a row. The S&P500 fell below its July lows, and the Dow Jones reached its June lowest values.

The last chord of the week for EUR/USD sounded at 0.9693. At the time of writing the review, Friday evening, September 23, the votes of the experts are distributed as follows. 55% of analysts say that the pair will continue to move south in the near future, while the remaining 45% expect a correction to the north. As for the trend indicators on D1, 100% is colored red, the picture is the same among the oscillators, while 25% signal that the pair is oversold.

The pair's immediate support is the September 23 low at 0.9667, with bears targeting 0.9500. The resistance levels and targets of the bulls look like this: 0.9700-0.9735, 0.9800-0.9825, 0.9900, the immediate task is to return to the range of 0.9950-1.0020, the next target area is 1.0130-1.0200.

We are in for a lot of macro-economic statistics this week. The week will be opened by data on GDP (Q3) and IFO business climate in Germany, which will be released on Monday September 26. Data from the US consumer market will be received the next day, and the US GDP (Q2) will become known on Thursday, September 29. Statistics on sales and the labor market in Germany, as well as on the consumer markets of the Eurozone (CPI) and the United States, will be published in turn on the last day of the five-day period and the month, September 30. In addition, ECB President Christine Lagarde will deliver a speech this week on September 26, and Federal Reserve Chairman Jerome Powell will speak on September 27.

GBP/USD: Back to the Past: Return to 1985

The Bank of England raised the pound rate by 50 bp up to 2.25% the day after the Fed meeting, on Thursday September 22. However, as expected, this did not help the British currency much. More precisely, given the current macroeconomic situation, it did not help at all. In just 10 days, from September 13 to 23, GBP/USD flew about 900 points, falling to its lowest level in 37 years. The bottom was found on Friday at 1.0838, which was in line with 1985 levels.

Disappointing economic data from the United Kingdom continues to weigh heavily on the pound. Business activity in the private sector continued to fall. The Preliminary Composite PMI, with a forecast of 49.0 points, actually fell from 49.6 to 48.4 over the month. In addition, a survey by the Confederation of British Industry (CBI), which speaks on behalf of 190,000 businesses, showed that the balance of retail sales fell to -20 in September from +37 in August.

According to the Bank of England's own forecasts, the country is close to a deep recession. And according to the estimates of the British Chamber of Commerce (BCC), the recession is already in full swing, and inflation will reach 14% by the end of the year. Next year also does not bode well: according to strategists at Goldman Sachs, inflation could reach 22% by the end of 2023.

To combat it, the Bank of England has moved to more aggressive rate hikes. But the tightening of monetary policy takes place simultaneously with an increase in budget spending. Moreover, the government will most likely not have enough of its own funds to pay businesses and households the announced partial compensation of electricity bills. Therefore, it will have to take large loans, which will not benefit the national currency either. (We have already reported that British energy regulator Ofgem announced that average annual bills will rise by 80% from October, and the number of households in fuel poverty could reach 12 million people in January).

The pair closed last week at 1.0867. But the range 1.0800-1.0838 is unlikely to become a strong enough support. Having broken it, the bears will rush to the historical low of 1985 of 1.0520, to which there are only about 300 points left. Given the pace of the fall of the pair, it can reach this goal in one to two weeks. Of course, a correction is not ruled out due to the oversold pound. If the pair turns north, it will meet resistance in the zones and at the levels of 1.1000-1.1020, 1.1100, 1.1215, 1.1350, 1.1475, 1.1535, 1.1600, 1.1650, 1.1710-1.1740. The return of the pair to the heights around 1.1800-1.2000 seems unlikely in the coming weeks.

Experts' forecast for the coming week looks quite unique: all 100% side with the British currency. As for the indicators on D1, all 100% point exactly in the opposite direction. However, 50% of the oscillators are in the deep oversold zone, which confirms experts' expectations regarding a correction to the north.

The event calendar can mark Friday, September 30, when UK GDP (Q2) data will be released.

USD/JPY: Miracle from the Ministry of Finance and the Bank of Japan



As we predicted, the Bank of Japan (BOJ) remained true to itself at its meeting on September 22 and kept its interest rate at a negative, ultra-dove level of -0.1%. However, we still have to admit our mistake. We wrote last week that the Japanese financial authorities should not expect a miracle. But a miracle did happen. As USD/JPY crept up to 146.00, the Treasury's seemingly steely nerves snapped and it ordered the BOJ to intervene in support of the yen.

As a result, the pair avalanched 550 pips, showing the most volatility since the start of the COVID-19 pandemic in March 2020. Then the shock passed, the situation calmed down a bit, and the pair returned to the values of the beginning of the working week, ending it at the level of 143.30.

This pullback confirms some analysts' view that the yen's strength is unlikely to be long-term and that USD/JPY will return to storm the 146.00 high again. “In the absence of major changes in fundamentals or (unlikely) concerted action against the US dollar, the chances of a sustained rebound in the Japanese yen are limited,” Scotiabank macro strategists say. “The key issue here, of course, is the divergence in monetary policy settings between the US and Japan, which has caused the Japanese yen to plummet since the Fed first began raising interest rates in earnest in the spring.”

Scotiabank believes that markets are likely to retest the 146.00 level to test the resolve of the Bank of Japan. And the Japanese Central Bank will have to spend billions of USD to protect this level. Moreover, it may even ask the ECB, the Bank of England and the Fed to act as their agent outside of business hours in Tokyo. However, it is likely that the Bank of Japan will try to fight off the strong dollar alone.

Experts' median forecast for the near future is as follows. 45% of experts side with the bulls, 45% have taken the opposite position, the remaining 10% remain neutral. Oscillators on D1 have 40% on the green side, 10% on the red side, and 50% are colored neutral gray. Among the trend indicators, the ratio is 9 to 1 in favor of the green ones.

The nearest resistance for the pair, as in the last two weeks, is 143.75. The objectives of bulls No. 1 and No. 2 are to gain a foothold above 145.00 and then storm the height of 146.00. This is followed by 146.78, the level reached before the joint actions of Japan and the US to support the yen in 1998. Supports for the pair are located at the levels and in the zones 143.00, 142.60, 142.00-142.20, 140.60, 140.00, 138.35-139.05, 137.50, 135.60-136.00, 134.40, 132.80, 131.70.

No important statistics on the state of the Japanese economy are expected to be released this week. However, there are two events that are of particular interest in the light of the decision to intervene. A press conference by BOJ Chairman Haruhiko Kuroda is scheduled for Monday, September 26, and the report on the last meeting of the Bank of Japan's Monetary Policy Committee will be published on Wednesday, September 28. In both cases, the market will try to understand how serious the regulator is about supporting its national currency.

CRYPTOCURRENCIES: Bearish Sentiment Persists

So is bitcoin digital gold after all? According to a survey conducted by Paxos among regular buyers of physical gold, almost a third of respondents consider BTC as the best alternative to the precious metal. However, judging by how both of these assets have been behaving lately, the best alternative for both of them is the US dollar. Physical gold peaked at $2,070 on March 08, 2022, after which it went down, having lost about 20% of its value so far. As for its digital counterpart, the all-time high of $67,273 occurred on November 10, 2021, and the loss is now approximately 71%. If we compare these figures, it turns out that XAU/USD was falling by 0.10% daily, while BTC/USD was falling twice as fast, by 0.22% per day. Draw your own conclusions. We only note that it is not gold and bitcoin that are to blame for what is happening, but the gaining strength of the dollar, which is growing along with the increase in the interest rate of the US Federal Reserve. So, another rate hike led to a fall in cryptocurrency quotes last week. Gold, on the other hand, although made a couple of jumps, returned to its previous price this time. After all, unlike BTC, it is a protective asset, not a risky one. Although, it is also receding step by step under the pressure of the American currency.

When it comes to precious metals, few people use derogatory epithets. Even though their price is falling as well. But in relation to cryptocurrencies, as much as you like. So, for example, the philosopher and author of the cult work "The Black Swan" Nassim Taleb called bitcoin a "tumor" that appeared due to the wrong policy of the Fed. “I believe we had 15 years […] of Disneyland which basically destroyed the economic structure. The Fed missed the mark by cutting interest rates too much. Zero interest for a long period of time damages the economy, bubbles are created, tumors like bitcoin are created,” he said, calling for a return to “normal economic life.”

Well-known bitcoin investor and analyst Willy Woo agrees that it is the US government that is now running the “ship”. True, on the contrary, he would like this “tumor” to be larger, but its growth is held back for political reasons. As he noted, it is currently theoretically possible to sell unlimited amounts of BTC due to futures contracts, although in reality the offer is limited to 21 million coins. “Futures markets can control the BTC rate,” the investor says. “CME (Chicago Mercantile Exchange) has set up a kind of bitcoin stabilizing speculation where you can play in US dollars. Wall Street hedge funds loved it. What are the current restrictions on the sale of bitcoin? None, because fiat has no restrictions.”

Willy Woo believes that due to the structure of the futures market, major players can suppress BTC by exerting pressure in the form of selling an asset: “Bitcoin should not be killed. Just the ability to short BTC is enough to suppress the exchange rate. Bitcoin will not be able to make a global impact without a high price. The SEC's policy is now aimed at increasing liquidity and the predominance of futures by approving futures ETFs, while spot ETFs are being rejected. Everything has turned into a political game now,” the investor sighs sadly.

DataDash analyst and founder Nicholas Merten expects the US Central bank to continue raising interest rates until it achieves a solid victory over inflation. And this, in turn, will push the quotes of digital assets further down. According to Merten, this is influenced not only by macroeconomic, but also by technical factors.

Thus, BTC's 200-week moving average (WMA) has become a resistance level, not a support level. Bitcoin has almost always remained above this indicator throughout its existence, with rare breakdowns to the downside, marking the bottom of the cycle. Currently, the 200-week WMA is around $23,250, and bitcoin is failing to rise above this level.

Merten concluded that BTC's recent exchange rate movement could signal the end of a 10-year bull market, and it can no longer be a leading asset compared to other commodities and stocks. According to the analyst, the next bottom of BTC could be around $14,000, which would mean an 80% correction from the all-time high, as in the case of previous bear markets. “$14,000 is a potential low at the moment. However, investors should consider an even sharper fall to $10,000.”

An analyst with the nickname DonAlt agrees with Merten, he believes that BTC will update the 2022 lows amid weak stock market performance. DonAlt predicts the coin will fall below the $18,000-20,000 range and form a new cycle low. “It often happens with such ranges that after it is broken, an increase occurs. And now there is a good chance to break through the $18,000-20,000 range and then form a bullish momentum. The only question is how low bitcoin can go because it can easily go all the way to $15,000.” “My forecast is based on the S&P 500 and looks terrible,” DonAlt writes. “It looks like this index is in for a big drop.”

We paid a lot of attention to the main competitor of bitcoin, ethereum, in the previous review. This was due to a very important event: the global update The Merge took place in the ETH network on September 15, including the transition of the altcoin from the Proof-of-Work protocol to Proof-of-Stake (PoS). Ethereum has fallen by about 20% since then. And we have repeatedly warned about this possibility, citing the opinions of various experts.

The coin’s price had roughly doubled from its yearly lows in June, by far outpacing bitcoin’s rise, ahead of the network upgrade. And Vijay Ayyar, vice president of the Luno crypto exchange, believes that the Merger had already been “factored into the price” of ETH, and “the actual event has become a “news selling” situation. According to Ayyar, traders are now moving investments from ethereum and other altcoins back to bitcoin, Ayyar said, “as bitcoin is expected to do better in a few months.” At the same time, the specialist believes that any “change in the macroeconomic environment in terms of inflation or unexpected interest rates” could lead BTC to fall below $18,000, and the coin will test levels up to $14,000.

However, inflation and rising rates are not the only factors that may affect the quotes of digital assets. So now investors are wondering if ethereum's regulatory status could change after the Merge. The reason for concern was the words of Gary Gensler, Chairman of the US Securities and Exchange Commission. This official said last week that cryptocurrencies operating under the Proof-of-Stake model that applies to ETH can be classified as securities. Thus, these assets fall under the competence of the regulatory authorities. Gensler did not specifically name ethereum, but it is clear that in this case the coin will attract the close attention of the SEC, and it is unknown how this may end. For example, DataDash's Nicholas Merten expects the asset to retest the $800-$1,000 range, although he doesn't rule out a move lower.

At the time of this writing (Friday evening, September 23), bitcoin and ethereum have partially recouped the fall caused by the Fed's decision. BTC/USDis trading at $18,900 ( ETH/USD is $1,320). The total capitalization of the crypto market is $0.929 trillion ($0.959 trillion a week ago). Like seven days ago, Crypto Fear & Greed Index is 20 points and is still in the Extreme Fear 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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #257 on: October 05, 2022, 04:40:43 PM
CryptoNews of the Week


- Analysts have estimated the “painful” breakeven threshold for miners at $18,300. According to Glassnode's calculations, 78,400 BTC could be at risk of liquidation if the price of bitcoin goes below this price, which follows from the mining difficulty regression model. This value is slightly higher than the June low of $17,840.
Against the background of price stability, mining metrics are improving, which is a signal that the situation will improve in the coming months. In particular, the hash rate reached a record 242 EH/s. The growth of computing power is due to the introduction of the most efficient ASIC devices. This confirms the dynamics of revenue per EH/s (4.06 BTC). In dollar terms, it ranges from $78,000-$88,000. The last time such values were observed was after the halving in October 2020, when bitcoin was worth half what it is now (~$10,000).
The balances of miners, which account for 96% of the current hash rate, have 78,400 BTC, the maximum number of coins that can increase sales in case of stress for this category of market participants. At the moment, most of the sales are carried out by miners associated with the Poolin pool. In September, representatives of this company admitted that there were problems with liquidity.
Glassnode experts also noted a growing likelihood of increased volatility after a long period of consolidation in the $18,000-20,000 range.

- McDonald's restaurant chain has started accepting BTC payments in Lugano, Switzerland. Back in March, Lugano authorities announced that they would make digital gold, USDT, and the city's LVGA token "de facto" legal tender. The decision was the development of an initiative to turn the city into the “Bitcoin Capital of Europe”.

- Robert Kiyosaki, the author of the bestseller Rich Dad, Poor Dad, called the strengthening of the US dollar an excellent opportunity to buy the first cryptocurrency and other digital assets. “Buy more. When the Fed turns around and cuts interest rates, you will smile while others cry,” he said.

- George Soros' former Quantum associate, billionaire Stanley Druckenmiller, predicted a revival of digital assets amid the collapse of the fiat-based economy. He said this at the CNBC conference. The financier expects a "hard landing" of the economy in 2023 against the backdrop of an aggressive tightening of the Fed's monetary policy.
In his opinion, quantitative easing and low rates led to bubbles in financial markets. These factors have not only been stopped now, but reversed. The Fed has begun cutting its $9 trillion balance and has already managed to raise the key rate five times to 3.25%, expecting its peak at 4.60%. “You don’t even need to talk about black swans to start worrying,” the billionaire said. In his opinion, if confidence in the actions of central banks is lost, cryptocurrencies “will play a big role in the revival”.

- Unlike global investors, ordinary people look at what is happening a little differently. The collapse in the crypto assets market forced not only the older generation, but also Newbie trader people to reconsider their attitude towards them. The financial company Bankrate conducted a survey, according to which, the number of Americans who were comfortable investing in digital money has dropped sharply.
Millennials, who had previously been considered most open to new technologies, have lost confidence in cryptocurrencies more than others. The percentage of Newbie trader people for whom cryptocurrencies were a convenient investment method fell from 49% in 2021 to 29% in 2022. People between the ages of 40 and 55 are losing trust in digital assets as well. Over the year, this figure fell from 37% to 21%. Among the older generation, the figure fell from 21% to 11%.
“It's much easier to invest enthusiastically in something when you see its value constantly increasing,” says Greg McBride, Chief Financial Analyst at Bankrate. “A real test of the faith happens when the market falls, and what you fervently believed until recently ceases to be profitable. Recent movements have forced many to reconsider their attitude towards the digital asset market radically.”

- Some different data was provided by The Block. According to their calculations, despite the global bearish trend, the number of active investors in the bitcoin network continues to grow. This trend is due to the serious economic crisis in Europe, against the background of which retailers are increasingly investing in the main cryptocurrency in order to diversify risks. According to The Block, the number of investors in the bitcoin ecosystem has grown by 4.5 million since January 1, 2022.
It is noteworthy that the number of bitcoin addresses with a balance of at least 0.01 BTC reached an all-time high of 10.7 million this month. About 47% of holders remain in profit, despite the flagship cryptocurrency's prolonged drawdown relative to its historical maximum.

- Galaxy Digital CEO Mike Novogratz suggested that a reversal could form in the stock market in October. The expert also stressed that the Fed's policy is likely to remain aggressive. And there are no clear signs so far that the US department is ready to cut interest rates, as such a drastic move would harm efforts to combat inflation. However, the expert did not rule out that the regulator may re-initiate the quantitative easing procedure at some point in order to stabilize the market situation.
The head of Galaxy Digital believes that bitcoin looks quite stable in the current macroeconomic conditions, and that BTC will still be able to reach $500,000 within a few years.

- Unlike many optimists, cryptocurrency strategist and trader Cantering Clarke expects BTC to crash to five-year lows amid stock market weakness. According to his calculations, bitcoin could fall by almost 40% from current levels if the S&P 500 stock index resumes its bearish trend. “If the S&P 500 drops to the next major area between 3,200-3,400 [pips], I think the correct assumption is that the crypto crash will be 2-3 times greater. This means at least that BTC will re-test the largest protrusion in five years: about $12,000-13,000,” the trader warns.
However, in the short term, he believes bitcoin bulls could bring back some confidence to the market if they manage to gain a foothold above $20,000. “If we can break these local highs, I think BTC will see some momentum,” Cantering Clark predicts.

- Social media users are vigorously discussing the fact that October 7 will be a key day for the cryptocurrency market this week. The fact is that the US authorities will announce updated data on unemployment and wages in the non-agricultural sector of the country this Friday. Employment and CPI data will signal how much the Fed will raise interest rates at its next meeting in November.
Experts are clearly divided on the future of the industry. Some of them predict a rapid growth in the exchange rate of the flagship cryptocurrency and altcoins due to the geopolitical situation in the world. Others, on the contrary, predict a protracted crisis. In their opinion, the industry will face a crypto winter in the next few years, so there is no point in waiting for prices to rise.

- According to US Treasury Secretary Janet Yellen, failure to regulate cryptocurrencies could harm the entire US financial system. According to her, this industry, left without regulation, is fraught with risks, although they do not pose a “real threat” to financial stability so far.
A true cascade of defaults and bankruptcies in the crypto industry has led firms like Celsius, Voyager, and Three Arrows to file for bankruptcy and prevent clients from withdrawing funds. We can recall the fall of the Luna token and the Terra stablecoin associated with it. All this led to the US Securities and Exchange Commission (SEC) deciding to increase its focus on the digital asset market by doubling its crypto division staff in May. And SEC chief Gary Gensler even called this entire industry the “ Earnings-price ratio West”.

- Increased regulation of cryptocurrencies is often frowned upon by crypto investors, and the threat of such increased regulation has often been a bearish factor for bitcoin and other cryptocurrencies. However, the Commodity Futures Trading Commission (CFTC), which oversees the US futures market, believes that proper regulation could have a powerful bullish effect on the price of BTC.
CFTC chief Rostin Behnam explained that a clear regulatory framework could help increase the number of institutional investors. According to him, “these incumbent institutions in the crypto space see a huge opportunity for an institutional influx that will only happen if a regulatory structure is put in place around this market.” Behnam also noted that the bill submitted to the US Senate would make the CFTC the main regulator of the crypto industry, expanding the commission's powers and requiring crypto firms to register with the CFTC.

- The founder and CEO of The Birb Nest brand Ardian Zdunczyk shared his thoughts on bitcoin and what cryptocurrency can expect in the last quarter of the year. He noted that historically the fourth quarter was successful for BTC, and it would be interesting to see if the leader of the crypto market can repeat the previous successes. Zdunczyk cited historical data, proving that investors can expect good returns over the next two months. True, he made a reservation that no one would give guarantees.
Another argument in favor of the pre-New Year rally is the fact that the coins have risen slightly compared to their 200-day trends. Unlike fiat currencies that show roller coasters, bitcoin is stable in the range of $19,000 to $20,000. And now all markets are waiting for stability. They are already tired of the recession, the fall in company shares, the IMF's gloomy forecasts, and the ill-conceived policies of the Central Banks. Therefore, against such a background, bitcoin is becoming more and more attractive.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #258 on: October 09, 2022, 03:19:11 PM
Results of September 2022: Gold Is Still Valuable at NordFX


NordFX Brokerage company has summed up the performance of its clients' trade transactions in September 2022. The services of social trading, PAMM and CopyTrading, as well as the profit received by the company's IB-partners have also been assessed.

Gold, or rather the XAU/USD pair, remains one of the most popular instruments among traders of the NordFX brokerage company. So, it was this precious metal that helped them take all three steps of the podium in September.

- The highest profit in the first month of autumn was received by a client from West Asia, account No. 1634XXX. Trading on the XAU/USD pair, this trader managed to earn 34,551 USD.
- The second step on the September podium went to the representative of East Asia (account No.1646XXX), whose result of 24,154 USD was also achieved thanks to transactions with gold.
- This precious metal helped another trader from West Asia as well (account No.1632XXX) enter the September TOP-3 with a profit of 22,735 USD.

The situation in NordFX's passive investment services is as follows:

- At CopyTrading, we highlighted a number of startups a month ago. That's what we call them because of their short lifespan, which is an additional risk factor. Three such signals continued to work in September, still attracting attention. These are Andy EU250 (profit 372%/maximum drawdown 26%/75 days of life), JANUNGFX (261%/48%/75) and PT_bot Scalping (51%/8%/99) signals. Here, as usual, we recall that, in addition to a short lifespan, aggressive trading is a serious risk factor. Therefore, we urge you to be extremely cautious when working on financial markets.

- As for “veteran” signals, the first of them, KennyFXPro, Prismo 2K, has increased profits to 208% in 522 days with a maximum drawdown of about 45%. The readings of the second, KennyFXPro - The Cannon Ball, are slightly lower in all respects: a lifespan of 190 days, a profit of 61%, a drawdown of slightly less than 13%.
   
- The TOP-3 in thePAMM service has undergone certain changes over the past month. The leader is still the same manager under the nickname KennyFXPRO. The capital on his KennyFXPRO-The Multi 3000 EA account has been increased by 155% in 621 days. The account TranquilityFX-The Genesis v3 also remained among the leaders, showing a profit of 117% in 553 days. Both of these accounts have a very moderate maximum drawdown, about 20%. KennyFXPro - The Multi 3000 v2, closes the top three, which showed a return of 32% in 103 days of life with a drawdown of less than 14%.

TOP 3 NordFX IB Partners in September are as follows:
- the largest commission amount, 15,684 USD was accrued to the partner with account No.1645ХXХ;
- the second place went to the owner of account No.1507ХХХ, who received 8,394 USD;
- and, finally, the partner with account No.1633XXX, who received 7,178 USD as a reward, closes the top three.
 

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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #259 on: October 09, 2022, 03:42:50 PM
Forex and Cryptocurrency Forecast for October 10 - 14, 2022


EUR/USD: It's Getting Worse in the EU, It's Getting Better in the US

EUR/USD updated another 20-year low on September 28, bottoming at 0.9535. This was followed by a correction, and the pair came close to the parity level on Tuesday, October 04, rising to 0.9999. However, the happiness of the bulls was short-lived, followed by another reversal to the south and the finish line at 0.9737.

Judging by the economic macro statistics, the advantage will remain on the side of the bears for a long time to come. According to the latest data, the index of business activity in the services sector (ISM) of the Eurozone fell from 49.8 to 48.8 points. A similar indicator in the US decreased as well, but much less: from 56.9 to 56.7, and at the same time it turned out to be higher than the forecast of 56.0 points.

Things are even worse in Germany: this locomotive of the region's economy, instead of pushing the pan-European train forward, began to pull it back. The service sector activity index sank from 47.7 to 45.0 points, while the Composite Index fell from 46.9 to 45.7 points.

The August data on trade in Germany also indicate serious problems. Imports increased by 3.4%, more than three times the forecast of 1.1%. As a result, the country's trade surplus fell from €3.4 billion to €1.2 billion.

This depressed state of the economy against the background of continuing inflation suggests the threat of stagflation in the Eurozone. The increase in energy prices adds to the negative. And it is likely to continue, as the OPEC + countries decided to seriously reduce oil production. Recall that these prices were one of the most powerful triggers for the global wave of inflation. Another negative factor is the proximity of the EU countries to the theater of Russian-Ukrainian military operations, especially since Russian President V. Putin constantly threatens to use nuclear weapons.

The situation in the US is much better, which contributes to the strengthening of the US currency across the board. The country is far from the Russian-Ukrainian front, and the oil and gas crisis does not threaten it. According to ADP, private sector employment rose by 208K in September, above market expectations of 200K. The number of new jobs outside the agricultural sector of the country (NFP) also turned out to be higher than expected: 263K against 250K, and unemployment in the US decreased from 3.7% to 3.5% over the month.

This situation in the labor market allows the Fed to continue to fight inflation, using the policy of quantitative tightening (QT) and raising the interest rate on the dollar. Atlanta Fed chief Rafael Bostic said the tightening cycle is "still at the very beginning" and warned against Currency carry trade on a "reversal" soon. Similar statements were made by his colleague Mary Daly from San Francisco. What will actually happen to the rate will be known on November 2, when the next meeting of the FOMC (Federal Open Market Committee) of the US Central Bank will take place.

At the time of writing this review, on the evening of Friday October 07, the votes of the experts were distributed as follows. 50% of analysts say that the pair will continue to move south in the near future, another 30% expect it to move north, and the remaining 20% vote for a sideways trend. Among the trend indicators on D1, 40% are red, 25% are green and 35% are neutral gray. The picture is completely different among the oscillators: all 100% advise to sell the pair.

The immediate support for EUR/USD is at 0.9700-0.9725, followed by 0.9645, 0.9580 and finally the Sep 28 low at 0.9535. The next target of the bears is 0.9500. The resistance levels and targets of the bulls look like this: 0.9800-0.9825, 0.9900, the immediate task is to return to the range of 0.9950-1.0020, the next target area is 1.0130-1.0200.

As for the upcoming week, the publication of the minutes of the last FOMC meeting, as well as the speech of the head of the ECB, Christine Lagarde, will give food for forecasts on Wednesday, October 12. The following day, Thursday 13 October, will see data from the consumer market (CPI) in Germany, as well as from the consumer market and the US labour market. US retail sales, as well as the University of Michigan Consumer Confidence Index, will become known at the very end of the working week, on Friday, October 14.

GBP/USD: A Disservice for the British Pound

As a result of the shock collapse on September 23-26, the British pound almost reached parity with the dollar. After flying 860 pips, the pair landed at 1.0350, below the 1985 low.

Such a record head-down throw was provoked by British Finance Minister Kwasi Kwarteng, who, instead of the planned increase, announced a program to reduce the tax burden for citizens and legal entities of the country. That is, in the context of inflation, which exceeded 10% in July, and could rise to 14% by the end of the year, in the face of growing public debt and the problems that have accumulated since Brexit, the government decided to turn around and return to quantitative easing (QE) . Alas for a while, this was enough to knock down the national currency.

The Office of Budget Responsibility (OBR) estimates that this decision, along with previous support programs for the population and continued high energy prices, will lead to an increase in public debt from the current 96% to 320% of GDP over the next 50 years. The Parliament of the United Kingdom immediately talked about a vote of no confidence in the government of the country. Even the IMF flinched in surprise and lashed out at the British Cabinet. There is no need to talk about citizens: in anticipation of a further fall in the pound, they began to actively buy up gold and cryptocurrencies. New account openings have more than doubled, according to Bullion Vault, the London Bullion Market Association. A twofold increase in trading volumes for the BTC/GBP pair was also registered on crypto exchanges. In other words, what has been called a “disservice” since ancient times has happened.

The final chord of the week was set at 1.1079. According to strategists at ING, the largest banking group in the Netherlands, the current levels of the pound are unstable, given the instability of the bond market, the deterioration of the fiscal situation and the state of the UK current operations account. Therefore, they predict a return of GBP/USD below 1.1000. Their colleagues from MUFG Bank expect it to fall again to the lows of the last ten days of September. As for the median forecast, here the majority of analysts (55%) side with the bears as well. 15% expect the pound to strengthen, and 30% have taken a neutral position. All 100% of the oscillators on D1 point exactly south. But the picture is mixed among the trend indicators: 35% are colored red, the same amount is green, and the remaining 30% are gray. The nearest levels and support zones are 1.0985-1.1000, 1.0500-1.0740 and the September 26 low of 1.0350. In case the pair reverses to the north, the bulls will meet resistance at the levels of 1.1230, 1.1400, 1.1470, 1.1720, 1.1800 1.1960.

The event calendar can mark Tuesday, October 11, when UK unemployment data will be released. The head of the Bank of England, Andrew Bailey, will make a speech by the end of the same day.

USD/JPY: “Sharp Yen Movements Are Undesirable”


Recall that the experts' median forecast for USD/JPY looked more than uncertain two weeks ago. Then 45% of the experts sided with the bulls, 45% took the opposite position, the remaining 10% remained neutral. And this uncertainty has been fully confirmed: the pair has been moving in the side channel 143.50-145.30 since September 26, spending most of the time in an even narrower trading range of 144.00-144.85. The assault on the height of 146.00 has not happened. The strengthening of the yen, which bears hoped for after the Japanese Ministry of Finance ordered the Central Bank (BOJ), for the first time in 24 years, to intervene in support national currency, has not happened either.

A record amount of 2.8 trillion yen ($19.3 billion) was allocated for this purpose last month. As a result of this move, Japan's foreign exchange reserves fell by 4.2% to $1.238 trillion. The country's total foreign exchange reserves were $1.409 trillion a year ago. Japan's deposits in other countries' Central Banks, the volume of foreign securities, and gold reserves have also decreased.

It looks like the country's leadership is quite satisfied with the lull in USD/JPY quotes. Thus, the Japanese Prime Minister Fumio Kishida, commenting on the last intervention on October 7, stated that "the recent sharp, one-sided movements of the yen are undesirable." And this raises the question: did the Ministry of Finance and the Central Bank take such a step contrary to the Prime Minister's position? Or did they not expect such an increase in volatility?

At the same time, the fact remains that, as we predicted, there was no long-term strengthening of the Japanese currency, and USD/JPY finished last week at 145.30 Supports are located in zones and at levels 144.85, 144.20, 143.50, 142.60, 141.80-142.20 and 140.25-140.60. The bulls' task No. 1 is to prevent the pair from falling below 145.00, and task No. 2 is to storm the height of 146.00. This is followed by 146.78, the level reached before the joint actions of Japan and the US to support the yen in 1998. Trend indicators and oscillators on D1 are 100% on the green side, although among the latter, one third signal that the pair is overbought.

No important statistics on the state of the Japanese economy are expected to be released this week. In addition, traders should keep in mind that Monday, October 10, is a day off in the country, National Sports Day.

CRYPTOCURRENCIES: Bitcoin Is Still Gold. Although Digital One.

According to The Block, despite the global bearish trend, the number of active investors in the bitcoin network has increased by 4.5 million since January 01, 2022. The number of bitcoin addresses with a balance of at least 0.01 BTC has reached an all-time high of 10.7 million in the last few weeks alone (At the same time, about 47% of holders remain in profit, despite the flagship cryptocurrency’s long drawdown relative to the all-time high).

This dynamic is due to a serious economic crisis in Europe, against which retail holders are increasingly investing in the main cryptocurrency in order to diversify risks. It suffices to cite the UK as an example, where, due to the loss of confidence in the government's fiscal policy, the pound went into a peak on September 23-26. As a result, panic-stricken investors began to convert the British currency into physical gold and crypto-assets. We wondered in the last forecast if BTC is digital gold. In the case of the UK, the answer is yes.

What happened suggests that the destabilization of traditional financial markets can benefit the crypto market. And this is not just our opinion. Billionaire Stanley Druckenmiller, a former associate of George Soros at Quantum, predicted a resurgence of digital assets amid the collapse of the fiat-based economy. He stated this at the CNBC conference. The financier expects a "hard landing" of the economy in 2023 against the backdrop of an aggressive tightening of the Fed's monetary policy.

In his opinion, quantitative easing and low rates led to bubbles in financial markets. These factors have not only been stopped now, but reversed. The Fed has begun cutting its $9 trillion balance and has already managed to raise the key rate five times to 3.25%, expecting its peak at 4.60%. “You don’t even need to talk about black swans to start worrying,” the billionaire said. In his opinion, if confidence in the actions of central banks is lost, cryptocurrencies “will play a big role in the revival”.

Not only Stanley Druckenmiller, but the market as a whole fear that the economy will not be able to withstand such monetary tightening. In addition to the rate hike, the monthly rate of contraction in the global money supply, according to Morgan Stanley, has reached $750 billion in dollar terms. This is leading to a deepening recession. it is only the Fed that can change the situation if it retreats from its plans to combat inflation. Looking to the future, Rich Dad Poor Dad bestselling author Robert Kiyosaki called the current situation a great opportunity to buy the first cryptocurrency and other digital assets. “Buy more. When the Fed turns around and cuts interest rates, you will smile while others cry,” he said.

Mike Novogratz, CEO of Galaxy Digital, gave a similar forecast. This expert did not rule out that the regulator may re-initiate the quantitative easing procedure at some point in order to stabilize the market situation. In his opinion, bitcoin looks quite stable even in the current macroeconomic conditions. And in the event of a change in the policy of the Fed, BTC will still be able to reach $500,000 within a few years.

As for the near future, Ardian Zdunczyk, founder and CEO of The Birb Nest, shared his forecast here. He referred to historical data, according to which the fourth quarter has always been successful for BTC. Based on this, investors can expect good returns over the next two months. True, Zdunczyk made a reservation straight away that no one would give guarantees on this score.

Another argument in favor of the pre-New Year rally, according to the specialist, is the fact that the coins rose slightly compared to their 200-day trends. Unlike fiat currencies that are on a rollercoaster ride, bitcoin is holding steady around $20,000. And now all markets are waiting for stability. They are already tired of the recession, the fall in company stocks, the gloomy forecasts of the IMF and the ill-conceived policies of the Central Banks, says Ardian Zdunczyk. Therefore, against such a background, bitcoin is becoming more and more attractive.

Against the backdrop of BTC price stability, mining-related metrics are also improving. In particular, the hash rate reached a record 242 EH/s. Analysts have estimated the “painful” breakeven threshold for miners at $18,300. According to Glassnode's calculations, 78,400 BTC could be at risk of liquidation if bitcoin goes below this price, which is derived from a mining difficulty regression model. This value is slightly higher than the June low of $17,840.

The balances of miners have 78,400 BTC, the maximum number of coins that can increase sales in case of stress for this category of market participants. At the moment, most of the sales are carried out by miners associated with the Poolin pool. In September, representatives of this company admitted that there were problems with liquidity.

Cryptocurrency strategist and trader Cantering Clark also warns that BTC could plunge to five-year lows amid weak stock markets. According to his calculations, bitcoin could fall by almost 40% from current levels if the S&P 500 stock index resumes its bearish trend. “If the S&P 500 drops to the next major area between 3,200-3,400 [pips], I think the correct assumption is that the crypto crash will be 2-3 times greater. This means at least that BTC will re-test the largest protrusion in five years: about $12,000-13,000,” the trader predicts.

However, in the short term, he believes bitcoin bulls could bring back some confidence to the market if they manage to gain a foothold above $20,000. “If we can break these local highs, I think BTC will see some momentum,” Cantering Clark thinks.

Social media users had been recently discussing vigorously the fact that October 07 will be a key day for the cryptocurrency market last week. The reason for this is the release of data on the US labor market that day. Together with CPI, these statistics allow us to predict how much the Fed can raise interest rates at its next meeting in November. And this, in turn, will certainly affect the value of risky assets, such as stocks and cryptocurrencies.

The market reacted to the release of these data by lowering the quotations of risky assets: at the time of writing the review (Friday evening, October 07), BTC/USD went below $20,000 and is trading at $19,610. The total capitalization of the crypto market is $0.946 trillion ($0.935 trillion a week ago). The Crypto Fear & Greed Index has risen only 1 point in seven days, from 22 to 23, and is still in the Extreme Fear zone.

And at the end of the review, as usual, we will try to give everyone a boost of optimism. According to US Treasury Secretary Janet Yellen, the crypto industry, left unregulated, is fraught with risks and could harm the entire US financial system. Usually, such statements were perceived by the market as a threat, and became a bearish factor for bitcoin and other cryptocurrencies. However, the Commodity Futures Trading Commission (CFTC), which oversees the US futures market, believes that proper regulation could have a powerful bullish effect on the price of BTC. CFTC chief Rostin Behnam explained that a clear regulatory framework would help boost the number of institutional investors.

There is no doubt that the US government agencies will soon squeeze the crypto industry into their regulatory “embrace”. But what if that's when Mike Novogratz's predictions come true, and we see bitcoin at around $500,000?


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #260 on: October 12, 2022, 06:58:04 PM
CryptoNews of the Week


- Paul Tudor Jones, a trader and founder of the Tudor Investment Hedge Fund, said in an interview with CNBC that he continues to hold a position in the first cryptocurrency. “I still have a small bitcoin investment,” Jones noted. According to this Wall Street King, the first and second most capitalized cryptocurrencies will be valuable “at some point” because of too much money.
Jones pointed to the monetary policy of the US Federal Reserve. It was quite simple until 2018, but the regulator “went too far with quantitative easing” two years later to support the economy, and then changed its strategy drastically. “Inflation is a bit like toothpaste,” the famous trader explained. "Once you squeeze it out of the tube, it will be difficult to put it back. The Fed is furiously trying to wash that taste out of their mouths. […] If we go into a recession, it will have a really negative impact on a range of assets.”

- Mike McGlone, senior strategist at Bloomberg Intelligence, predicted a rise in the bitcoin price by the end of 2022. Digital gold and ethereum tend to outperform most major assets during economic downturns. Therefore, McGlone called the increase in interest rates by Central banks “a strong tailwind.”
He noted that October has been the best month for bitcoin since 2014. At the same time, the analyst believes that ethereum's transition to the Proof-of-Stake consensus algorithm can help ETH and BTC gain a foothold above the $1,000 and $20,000 levels, respectively.

- A popular crypto analyst known as Dave the Wave accurately predicted the bitcoin crash in May 2021. He believes now that if bitcoin equals gold in the long term in market capitalization, this will be equal to an increase in its price by about 40 times. According to the expert, this global goal can be achieved within two decades.
Dave the Wave also notes that the MACD momentum indicator may indicate soon if BTC has hit the market bottom. “The recent local downtrend is now equal to the previous uptrend. A monthly closure with a strength/contraction histogram will contribute to a significant assumption [if not confirmation] of the bottom.”

- Google has announced that it will soon start accepting payments for subscriptions to its own cloud services in cryptocurrency. This was reported by the CNBC news agency. The partner of the IT giant is the Coinbase crypto exchange. It is noted that Google will accept 10 types of cryptocurrencies, including bitcoin, Ethereum, Litecoin, Bitcoin Cash and even Dogecoin. The feature will become available in early 2023. At the first stages, only “a few corporate clients in the world” will be able to pay Google with cryptocurrency. However, a much larger number of Google users will later access it.
According to CNBC, Coinbase will receive a commission on each transaction, the amount of which has not yet been disclosed. However, it is noted that as part of the partnership, Coinbase will abandon Amazon's cloud infrastructure in favor of a similar solution from Google.

- Amsterdam Stock Exchange trader Michael van de Poppe believes that bitcoin's current low price volatility will begin to increase in the second half of October, after US inflation data is released. Together with the latest data on retail sales and labor market dynamics, it will have a strong impact on both Wall Street and the cryptocurrency market.
The next important point is early November, when the Fed is likely to raise the benchmark interest rate by 0.75%. The probability of this is estimated above 90% at the Chicago CME Group. If so, according to JP Morgan, the S&P 500 index, which has lost 24.21% since the start of the year, faces a new collapse of about 20%. Thus, investors will be able to receive less than $56 out of the $100 dollars that they invested in the shares of the 500 largest US companies.
Bitcoin's price is sure to react to such a move in the US stock market, but how? Opinions differ here. Wall Street stock prices, like any other risky asset measured in USD, are under pressure that the dollar DXY index is rising and is now reaching its highest level since May 2002 (113 points). However, the correlation of cryptocurrencies with the stock market is not stable: it either rises or falls. And it will become clear in the foreseeable future whether bitcoin can become a hedge asset against the risk of unwinding global inflation at this stage.

- Real Vision founder and former Goldman Sachs CEO Raoul Pal said that the macroeconomic background is beginning to look attractive for investing in cryptocurrencies. Many investors are now in a state of extreme fear, fearing that the global financial system will soon collapse. And this could be a growth catalyst for risky assets like bitcoin and altcoins.
According to the businessman, investors are very negative and are playing it safe. Previously, the market had incredibly high amounts of investments, but the market does not work now, as sellers predominate over buyers. This situation may encourage the Fed to relax its monetary policy.
“There is currently no liquidity on the market, as only sellers are left there. I think this will cause huge problems in the future. Ultimately, businesses will demand more money to be issued and the situation on the market to be changed,” said Raul Pal. So once Central banks start printing money again, assets like bitcoin and altcoins will rise. “This is a sad state of affairs, but this is the real situation,” says the financier. “You will be able to see when the shift comes and use it to your advantage by investing in cryptocurrencies.”

- An experienced cryptocurrency market expert Zack Voell, who is a mining analyst at Braiins, shared a model that reflects the dynamics of bitcoin (BTC) prices in previous bear cycles. He studied the behavior of quotes in all past periods between highs and lows, on the basis of which he predicted a fall in the BTC rate to $13,800.
The analyst emphasized that he studied the behavior of the bitcoin price in 2011, then in 2013-2015 and 2017-2018, as well as during the current cycle, which began in November 2021. According to him, the value of the cryptocurrency lost more than 80% of its peak values the last two times. If history repeats, the rate will fall to at least this mark and may even go lower.
He noted among other things that the bearish cycle of 2011 led to a drop in the value of BTC by as much as 95%. However, this happened when the cryptocurrency was practically unknown to anyone and was not on the way to mass adoption.
Voell also noted that despite the negative sentiment, bitcoin was the most profitable asset in Q3 2022. Digital gold has shown extreme stability over the past months. In addition to BTC, according to statistics published by NYDIG, only precious metals and fiat USD turned out to be profitable in Q3.

- According to the analytical cryptocurrency platform Santiment, large bitcoin holders have increased their BTC savings by 46.173 coins (about $929 million) since September 27.
The list of so-called whales includes owners of addresses that store between 100 and 10,000 bitcoins. Analysts stressed that such activity by large coin holders is very rare this year. Apparently, bitcoins were bought with USDT stablecoins: the the latter's stocks in whales' wallets have fallen significantly.
It is quite possible that large holders expect the crypto market to grow. Indeed, bitcoin has been trading along the Power Point $20,000 for several weeks now, and this is an accumulation phase that should give way to an up phase. At the same time, 45.72% of all available bitcoins were stored on whale wallets at the end of September: this is the lowest figure in the last 29 months.
It has been repeatedly said that the fall in digital and other risky assets is associated with an increase in base rates by regulators in the United States and other world leading economies. However, financial analysts expect the Central banks of these countries to start cutting rates to combat the economic recession. This should push the price of bitcoin up.

- The bitcoin consolidation near the $20,000 level continues, and one of the tools used to determine the possible movement of the price of BTC is the Blockchain Center’s rainbow price chart. It shows how past price statistics can help predict the future behavior of an asset.
In the long term, the chart indicates that bitcoin could hit six figures at $626,383 by October 9, 2024. The flagship cryptocurrency will reach the “maximum bubble territory” then, marked in dark red.
Additionally, the chart indicates that the current crypto winter may have bottomed out. It is noteworthy that bitcoin's current price of about $19,500 is estimated to be in the “Main Sale” zone (marked in blue). Ahead of another bull run, the rainbow chart also shows that bitcoin’s “HODL” status will take effect at the end of the year when the asset trades at $86,151.
The color bars follow a purely logarithmic regression, which has no scientific basis. In addition, the bands have been adjusted to match past periods in the better way. However, the chart creators note that this is at least an interesting way to look at the potential future profitability of the main cryptocurrency.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #261 on: October 16, 2022, 02:14:08 PM
Forex and Cryptocurrency Forecast for October 17 - 21, 2022


EUR/USD: Market, Are You Crazy?

Throughout the first half of the week, EUR/USD moved sideways along the 0.9700 horizon as markets waited for the release of US inflation data. And it was on Thursday, October 14 that the Department of Labor Statistics of the country published fresh values of the Consumer Price Index (CPI), which exceeded the forecast values. In monthly terms, the September CPI reached 0.6% against the forecast of 0.5%, in annual terms - 6.6% against the forecast of 6.5% and the previous value of 6.3%.

The first reaction of the markets was quite expected. The DXY dollar index soared to 113.94 points (the highest value since September 28, when a 20-year high of 114.79 points was reached), the yield of 10-year treasuries updated a 14-year high, reaching 4.08%, and EUR/USD reached the level 0.9630. Risky asset quotes associated with the dollar by reverse correlation went down. The S&P500 index fell by 2.4% and updated its 2-year low. Dow Jones, Nasdaq and crypto assets behaved in a similar way.

But something extraordinary happened in less than one hour: all the markets, as if going crazy, turned 180 degrees all of a sudden. Moreover, for no apparent reason.

The dollar began to lose its positions rapidly: DXY fell to 112.46, and EUR/USD broke through 0.9800. On the contrary, the S&P500 was positive by the end of Thursday and grew by 2.6%. Analysts cite the strong oversold stock market as the main reason for this change in sentiment and the sharp increase in risk appetites. It is believed that stocks lose about 30% during recessions. At this stage, the S&P500 is down 27.5% during 2022. Therefore, some investors have decided that the bottom has already been reached or will be reached soon, and it is time to start buying. A large number of put options have recently been bought in the US market, on which profit-taking took place, and the freed fiat was used to purchase risky assets.

Despite the events of the past week, market opinion regarding the further increase in interest rates by the US Federal Reserve has not changed. Billionaire investor Ray Dalio has warned that the US will face a "perfect storm" of problems: a combination of debt, political infighting, and conflict abroad. But at the same time, despite the threat of a recession, the Fed will have no other choice to beat inflation.

The market has no doubts that the key rate will be increased by 75 basis points (bp) at the next meeting of the FOMC (Federal Open Market Committee) on November 2. The largest North American financial derivatives market, CME Group, estimates the probability of this at over 90%. Moreover, it is possible that the rate will also increase to 75 bp in December (or, alternatively, by 50 bp in December and another 50 bp in Q1 2023). The peak of the rise is predicted at the level of 4.93-5.00% per annum, and this rate may remain until 2024.

As for Europe, the ECB representative and head of the Slovak Central Bank, Peter Kazimir, recently said that “raising the rate by 75 bps in October is appropriate”. However, this had almost no impression on the market. Economists at Commerzbank still expect the European regulator to raise the rate to only 3.0% by March next year. Thus, it will still be far behind the USD rate.

In addition, the energy crisis and the problems associated with sanctions against Russia due to its invasion of Ukraine will also continue to put pressure on the common European currency. According to analysts at Commerzbank, the euro will start to recover only when investors bet more and more on the end of the crisis next year. In the meantime, they write, “a decisive tightening of monetary policy and a remarkably strong US economy make the US dollar the favorite currency of international investors.”

Thus, EUR/USD in the short term is still aimed south. And according to the forecasts of DBS Bank strategists, if it breaks through the important support level just below 0.9600, it may fall into the range of 0.8270-0.9500, which was observed in 2000-2002.

Following the release of September US Retail Sales and the University of Michigan Consumer Sentiment Index, the EUR/USD pair was trading in the 0.9750 zone at the time of writing the forecast on Friday evening, October 14. 55% of analysts support the fact that it will continue to move south in the near future, another 35% expect it to move north, and the remaining 10% vote for a sideways trend. Among the trend indicators on D1, 90% are red and 10% are green. The picture is quite different among the oscillators: only 40% of them advise selling the pair, 15% are in favor of buying, and 55% have taken a neutral position.

The immediate support for the EUR/USD is at 0.9700, followed by 0.9670, 0.9630, 0.9580 and finally the September 28 low at 0.9535. The next target of the bears is 0.9500. The resistance levels and targets of the bulls look like this: 0.9800-0.9825, 0.9900, the immediate task is to return to the range of 0.9950-1.0020, the next target area is 1.0130-1.0200.

The upcoming week's calendar highlights Tuesday October 18, when the German ZEW Economic Sentiment Index is released. The Consumer Price Index (CPI) of the Eurozone will be known. And there will be data on manufacturing activity and the housing market in the US on Thursday, October 20.

GBP/USD: UK Changes Course

In general, the GBP/USD chart was similar to the EUR/USD chart last week, except for the volatility. The local minimum was fixed at the level of 1.0922, the maximum - 1.1380, thus the range of fluctuations for the five-day period amounted to more than 450 points.

The statistics on the UK economy released this week looked mixed. Friday, October 14, was the key day, when Prime Minister Liz Truss fired Treasury Secretary Quasi Kwarteng. Now, after this event, the markets are awaiting details about the country's upcoming mini budget. Former British Foreign Secretary Jeremy Hunt has been appointed as the new Chancellor of the Exchequer, and Liz Truss has announced a dramatic change in fiscal policy. However, this has not helped the British currency much so far: it was in the 1.1200 area at the end of the working week.

As for the median forecast, here the majority of analysts (75%) side with the bears, 25% have taken a neutral position, while the number of supporters of the strengthening of the pound is 0. Among the oscillators on D1, the ratio is 60% to 40% in favor of the reds. Among the trend indicators, only 15% are colored red, 40% are green, and the remaining 45% are neutral gray.

The nearest levels and support zones are 1.1100, 1.1055, 1.0985-1.1000, 1.0925. This is followed by 1.0500-1.0740 and the September 26 low of 1.0350. When the pair moves north, the bulls will meet resistance at the levels of 1.1300, 1.1350, 1.1400, 1.1470, 1.1500, 1.1610, 1.1720, 1.1800 and 1.1960.

Regarding the release of UK macro statistics, the Consumer Price Index (CPI) will be released on Wednesday, October 19, as in the Eurozone, and UK retail sales for September will be announced on Friday, October 21.

CRYPTOCURRENCIES: How Much Will BTC Be Worth on October 9, 2024?


The crypto market was relatively quiet until Thursday October 13. The BTC/USD pair, despite the downward pressure, looked quite stable, holding positions around $19,000. However, it flew down  after the values of the US Consumer Price Index (CPI) became known, following the stock indices S&P500, Dow Jones and Nasdaq. However, it never reached the June 19 low of $17,940, and having found a local bottom at $18,155, it then went up sharply, following the stock indices. At the time of writing this review, on the evening of Friday, October 14, the pair is trading in the $19.375 zone.

According to Amsterdam Stock Exchange trader Michael van de Poppe, bitcoin price volatility will increase in the second half of October. The US inflation data, along with the latest data on retail sales and labor market dynamics, will have a strong impact on both Wall Street and the cryptocurrency market. The next important point will be early November, when the Fed is likely to raise the benchmark interest rate by 0.75%. Based on this, JP Morgan strategists predict a new collapse of the S&P500 index, by about another 20%. Thus, the unrealized loss of those who invested in the shares of the 500 largest US companies at the beginning of 2022 could exceed 44%. However, many crypto investors hope that, as in the case of the recent crisis in the UK, bitcoin will play the role of digital gold this time and will not collapse after other assets. It will become clear in the foreseeable future whether these hopes will come true.

If we look at the latest analysts' forecasts by color, the palette is as follows: short-term forecasts are dark black, medium-term forecasts are gray, and long-term forecasts are sky blue.

Among the dark blacks, this time, let's highlight the scenario of Zack Voell, who is a mining analyst at Braiins. He has recently shared a model that reflects BTC's price performance in previous bearish cycles. Zach Voell studied the behavior of quotes in all past periods between highs and lows, on the basis of which he predicted a fall in the BTC rate to $13,800.

The analyst emphasized that he studied the behavior of the bitcoin price in 2011, then in 2013-2015 and 2017-2018, as well as during the current cycle, which began in November 2021. According to him, the value of the cryptocurrency lost more than 80% of its peak values the last two times. If history repeats, the rate will fall to at least this mark and may even go lower. He noted among other things that the bearish cycle of 2011 led to a drop in the value of BTC by as much as 95%. However, this happened when the cryptocurrency was practically unknown to anyone and was not on the way to mass adoption.

Voell also noted that despite the negative sentiment, bitcoin was the most profitable asset in Q3 2022. Digital gold has shown extreme stability in the past months. (Apart from BTC, according to statistics published by NYDIG, only precious metals and fiat USD turned out to be profitable in Q3).

Now let's talk about what may happen in the last, Q4 2022. Mike McGlone, senior strategist at Bloomberg Intelligence, predicted a rise in the bitcoin price by the end of 2022. Digital gold and ethereum tend to outperform most major assets during economic downturns. Therefore, McGlone called the increase in interest rates by Central banks “a strong tailwind.” He noted that October has been the best month for bitcoin since 2014. At the same time, the analyst believes that ethereum's transition to the Proof-of-Stake consensus algorithm can help ETH and BTC gain a foothold above the $1,000 and $20,000 levels, respectively.

Such levels for ethereum and bitcoin will certainly not impress investors. Therefore, this forecast of the Bloomberg Intelligence strategist can be classified as neutral gray. Then move on to sky blue scenarios.

Paul Tudor Jones, a trader and founder of the Tudor Investment Hedge Fund, said in an interview with CNBC that he continues to hold a position in the first cryptocurrency. According to the influencer, the first and second most capitalized cryptocurrencies will be valuable “at some point” because of too much money.

That moment, according to Raoul Pal, could come when the Fed retreats from its plans to fight inflation by tightening monetary policy. This Real Vision founder and former Goldman Sachs chief executive said that the macroeconomic background is beginning to look attractive for investing in cryptocurrencies. Many investors are now in a state of extreme fear, fearing that the global financial system will soon collapse. And this could be a growth catalyst for risky assets like bitcoin and altcoins.

According to the businessman, investors are very negative and are playing it safe. Previously, the market had incredibly high amounts of investments, but the market does not work now, as sellers predominate over buyers. This situation may encourage the Fed to relax its monetary policy.

“There is currently no liquidity on the market, as only sellers are left there. I think this will cause huge problems in the future. Ultimately, businesses will demand more money to be issued and the situation on the market to be changed,” said Raul Pal. So once Central banks start printing money again, assets like bitcoin and altcoins will rise. “This is a sad state of affairs, but this is the real situation,” says the financier. “You will be able to see when the shift comes and use it to your advantage by investing in cryptocurrencies.”

A popular crypto analyst known as Dave the Wave accurately predicted the bitcoin crash in May 2021. He believes now that if bitcoin equals gold in the long term in market capitalization, this will be equal to an increase in its price by about 40 times. According to the expert, this global goal can be achieved within two decades.

The rainbow price chart of the Blockchain Center looks no less optimistic. (It differs somewhat from our forecast). It shows how past price statistics can help predict the future behavior of an asset. In the long term, the graph indicates that bitcoin could reach a six-figure value of $626,383 by October 9, 2024. The flagship cryptocurrency will reach the “maximum bubble territory” then, marked in dark red.

Additionally, the chart indicates that the current crypto winter may have bottomed out. It is noteworthy that bitcoin's current price is estimated to be in the “Main Sale” zone (marked in blue). Ahead of another bull run, the rainbow chart also shows that bitcoin’s “HODL” status will take effect at the end of the year when the asset trades at $86,151.

The color bars follow a purely logarithmic regression, which has no scientific basis. In addition, the bands have been adjusted to match past periods in the better way. However, the chart creators note that this is at least an interesting way to look at the potential future profitability of the main cryptocurrency.

At the time of writing, the total crypto market capitalization is $0.927 trillion ($0.946 trillion a week ago). The Crypto Fear & Greed Index has climbed 1 point in seven days from 23 to 24 and is still in the Extreme Fear 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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #262 on: October 26, 2022, 02:30:36 PM
CryptoNews of the Week


- Most of the 564 crypto investors surveyed by MLIV Pulse think that bitcoin will continue to trade in the $17,600-25,000 price range until the end of 2022. Almost two-thirds (65%) of retail investors said that the regulation of the crypto industry was more attractive than a repulsive factor for buying digital assets. The figure was 56% among professionals.
Only a third of respondents admitted the possibility of flipping: the superiority of ethereum over bitcoin in terms of market capitalization in the next two years. After being asked to choose one word to describe the crypto industry, investors were almost evenly divided between opposite options: “Ponzi” and “future.”

- Katie Wood, the head of ARK Invest management company, shared her opinion on the capitalization of the first cryptocurrency. She predicted a rise to $4.5 trillion even when bitcoin was trading at $250. It was then that Wood asked Arthur Laffer, a well-known economist, and member of the US President Reagan's Advisory Board, to study the digital gold white paper. ARK Invest CEO was interested in the prospects of bitcoin as a unit of account, a means of preserving value and circulation. Laffer spoke positively about the first cryptocurrency. “I've been looking for this ever since we dropped the gold standard. Bitcoin is a rules-based monetary system,” he said. Laffer also compared the prospects for capitalization of digital gold with the size of the US monetary base.
Wood added that it was this conversation that prompted her to immediately invest more than $100,000 in bitcoin, which was 400 BTC at that time (about $8.0 million at the time of writing).

- The quotes of the first cryptocurrency will reach $100,000 next year, against the background of the approaching halving. This was stated by well-known trader Ton Weiss in an interview with Kitco. He also warned that the price of digital gold could fall to $14.000 before the bull market sets in.
According to Weiss, capital flows from Europe to the United States and the syndrome of lost profits can become the engine of growth. “They missed their chance to catch the low in 2018. This is another possibility. If bitcoin ever drops below $10,000, investors will immediately take advantage of this,” the trader explained.
He also noted the decentralization and resistance to censorship of the first cryptocurrency. According to Weiss, these characteristics will provide the asset with mass adoption. “We are seeing how governments, the Central Bank and ordinary banks freeze accounts. This year alone, we have seen how the West and the US confiscate funds from people because of their Russian passports,” he said.

- One of the events that could significantly push the price of BTC up is the halving, which is due to take place in 2024. This opinion is also shared by a well-known crypto trading specialist under the nickname PlanB. He provided an analysis of previous bitcoin price movements and made predictions for the future using a Stock-to-Flow (S2F) model. His colleague was supported by another trader and analyst, Josh Rager, who also expects bitcoin to grow significantly after the halving in 2024. At the same time, in his opinion, growth should not be expected before this event.
As we know, the last bitcoin halving took place on May 11, 2020, when the reward for each created block was halved to 6.25 BTC. This reward will again be halved to 3.125 BTC per block during the fourth halving, which is expected to take place in May 2024.

- The legendary trader and analyst Peter Brandt has a slightly different opinion. He said that bitcoin would reach a new all-time high in about 32 months, but it would first fall to $13,000. The expert believes that the first cryptocurrency will find this bottom at the beginning of 2023 and will not show “impressive” performance over the next year and a half.
According to Brandt, the US Federal Reserve is not going to ease monetary policy. He assumes that the regulator will raise interest rates by another 75 basis points at least twice more by the end of 2022 in order to combat inflation.
However, the analyst expects that the value of the first cryptocurrency will no longer depend on other markets at some point. “Bitcoin will eventually correlate with bitcoin,” Brandt explained. The expert also noted that the cryptocurrency will become the “main store of value” in the next 10 years.
Recall that Peter Brandt has been working in the financial markets for more than 40 years, he is the creator of the Factor Trading service, which provides expert reports and analysis of asset value charts. Brandt has repeatedly noted that bitcoin is one of the largest parts of his investment portfolio.

- According to an October survey conducted by the financial company Finder, the median forecast of analysts is that the price of BTC will reach $270,722 by 2030. They also think that the first cryptocurrency will be traded at $21,344 by the end of this year.

- His Majesty's former Treasury Chief, Rishi Sunak, became the new British Prime Minister on October 25. He was remembered for his benevolent attitude towards cryptocurrencies in his previous position. In his opinion, innovations can make payments cheaper and faster.
His department began developing regulation for stablecoins in 2020 and announced research on Central bank digital currencies (CBDCs).  The future Prime Minister stated in April 2022 that he aimed to turn the UK into a "global hub for crypto-assets technologies." Sunak instructed the Royal Mint then to issue NFTs, and the Treasury announced plans to legalize stablecoins.
However, the agency ruled out the use of algorithmic stablecoins as payment mechanisms in May, amid the collapse of Terra. The Treasury has also considered additional measures to protect against “stable coin” disasters like UST.
Twitter users recalled that Sunak is easy to navigate popular NFT collections, and when taken a blitz survey, he chose both bitcoin and ethereum from the two leading cryptocurrencies.

- The bitcoin community is divided over whether BTC will rise or fall next year. There is reason to believe that BTC is likely to collapse sharply in the coming months but will then rise in middle to late 2023. Most analysts and technical indicators suggest that it could drop to $12,000-$16,000 in the coming months. This correlates with a volatile macro environment, stock prices, inflation, Fed data, and (at least according to Elon Musk) a possible recession that could last until 2024.
On the other hand, influencers, BTC maximalists and a number of other fanatical barkers claim that the price of the first cryptocurrency can soar to $80,000 and more. According to trader and analyst Kevin Swenson, we may see an 80-week bear market turn into a bull market around April. The deflationary nature of BTC, thanks to the halving, will contribute to this price increase.
Michael van de Poppe, CEO of trading firm Eight, has joined the cohort of analysts anticipating the rise of the first cryptocurrency. He believes that bitcoin has been consolidating around $20,000 for too long and should soon get out of the corridor to shake things up. “Bitcoin will break through all levels within two to three weeks. And I think it will be up. I think we'll get to $30,000."
The outflow of BTC from centralized exchanges also speaks in favor of a possible growth: this indicates that investors are withdrawing funds to cold wallets in anticipation of the growth of the first cryptocurrency.

- Other experts, on the contrary, believe that we will not see a surge either in the near future or in 2023. Gareth Soloway of InTheMoneyStocks has pointed out that there is a small chance that the coin could even crash to $3,500. “I think we will see a small bounce in the near future, then a wave down to $12,000-13,000, and then, I am afraid, we will move to $8,000-10,000, maybe even see a drop to $3,500,” he says. At the same time, Gareth Soloway warns that if BTC falls to $12,000 or below, it may not be profitable for miners to manage the ecosystem. This would mean that transactions are no longer being processed. And this, in turn, can not only damage the industry, but also destroy the bitcoin market.

- Frank Giustra, a billionaire who built his fortune on investments in the mining industry, believes that the US authorities will destroy cryptocurrencies sooner or later. He suggested that the US government plans to develop a jurisdiction for its own blockchain. “I think the US authorities really want to be ahead of the rest of the planet in terms of blockchain, not in bitcoin, but in a state-owned digital currency that they can fully control. Like all other countries, they don't need bitcoin competition. Therefore, I see BTC as a game against sovereign fiat money.” Giustra added that bitcoin has no chance of standing up to world governments.
The billionaire tried to convince crypto investors to invest in real gold. “If you invest in precious metals, the government will not be able to take them away from you when it destroys all assets not controlled by them in the digital world.”

- The correlation between the prices of bitcoin and gold over the past 40 days has reached a significant value of 0.5, which is a strong increase after it was almost zero in mid-August. At the same time, the volatility of bitcoin turned out to be less than that of the S&P 500 and Dow Jones. Accordingly, the price of the coin began to fluctuate less following the change in these two main indicators of the world's largest capital market.
Bank of America, in a letter to investors, expressed the opinion that “the decrease in bitcoin's positive correlation with the S&P 500 and the rapidly growing relationship with gold indicate that investors may be considering bitcoins as a relatively “safe haven” in a situation where there remains macroeconomic uncertainty in the world, and the “bottom” of the market may eventually be fixed.”

- As the most frightening holiday of the year approaches, there is another factor to consider when investing during this period: the “Halloween effect”. This is a popular sign among traders, which suggests that bitcoin and the stock market tend to perform well from the end of October to the end of May.
According to Finbold, BTC's price has only increased year-on-year over the past three Halloweens. However, it would be too reckless currently to assume that a digital asset could show growth for the fourth year in a row. But even stranger things happen in the world. According to estimates by 28,488 members of the CoinMarketCap community, the average implied BTC price on Halloween, October 31, 2022, will be $21,248, which is 65.17% lower than on the same day last year. Bitcoin was trading at $61,300 on October 31, 2021, with a market capitalization of $1.156 trillion, up 344.39% from BTC’s Halloween 2020 price of $13,794.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #263 on: October 30, 2022, 03:45:25 PM
Forex and Cryptocurrency Forecast for October 31 - November 04, 2022


EUR/USD: Is the Interest Rate Race Close to Its End?

EUR/USD grew until Thursday, October 27, and even rose above the landmark level of 1.0000, reaching 1.0092. The reason for this, most likely, was the hope of a number of investors that the ECB would raise the rate not by 0.75, but by 1.0 or even more basis points (bp) at its meeting. However, their dreams remained dreams. There happened exactly what most market participants expected: the European regulator raised the rate by 0.75 bp, from 1.25% to 2.0%. (Although this figure is the highest over the past 10 years).

The final statement of the Central Bank says that the ECB Governing Council has already made significant progress in abandoning the stimulating monetary policy (QE). There is not a single word in the text either that the interest rate will be raised regularly at the next meetings. The head of the ECB, Christine Lagarde, also noted at a press conference that economic activity in the Eurozone is likely to slow down significantly in Q3 2022. Based on all this, market participants concluded that the ECB is counting on the recession in Europe to help it cope with inflation without a further sharp increase in rates. If the regulator acts as aggressively as the US Federal Reserve, such steps, along with rising energy prices, could simply plunge the European economy into the abyss.

Many analysts believe that the ECB will raise the rate not by 75 bp, but by only 50 bp at its next meeting on December 15. There is no January meeting in the calendar, and the rate will be increased by some "pathetic" 25 bp in February, reaching 2.75%. where it all will end.

Against this backdrop, EUR/USD went below the 1.0000 horizon once again. The growth of US GDP helped strengthen the dollar. With a forecast of +2.4%, this indicator increased by +2.6% q/q in Q3 2022, breaking a series of falls: -1.6% in Q1 and -0.6% in Q2.

On the one hand, this economic growth shows that it is able to withstand even greater monetary tightening by the Fed. On the other hand, it turned out that such an important component as the real estate market is actively shrinking. Investments here have fallen by more than 26%, and rates on 30-year mortgages have reached 7% per annum, which has sharply reduced demand for housing.

Of course, this is unlikely to stop the Fed from fighting inflation. But it may force it to act more cautiously. As for the next meeting of the regulator on November 02, the market is still confident that the rate will be increased by 0.75 bp, from 3.25% to 4.0%. However, regarding the Fed's next move in December, the federal funds futures market is inclined to a more moderate rise by 50 bps. But even if this forecast turns out to be correct, the difference between rates on the euro and the dollar will remain, which will support the US currency.

EUR/USD closed last week at 0.9964. 50% of analysts support the fact that it will continue to move south in the near future, another 20% expect a correction to the north, and the remaining 30% vote for a sideways trend. It should be noted here that when moving to the forecast by the end of the year, 80% of experts vote for the bearish scenario. Among the trend indicators on D1, only 40% are red, 60% are green. Among the oscillators, all 100% advise to buy the pair.

The immediate support for EUR/USD is at 0.9900, followed by 0.9765, 0.9700, 0.9645, 0.9580 and finally the September 28 low at 0.9535. The next target of the bears is 0.9500. For the bulls, the first priority will be to break the 1.0000 barrier. Then they will meet resistance at the levels of 1.0100, 1.0250, 1.030 and 1.0370.

The most important event of the upcoming week will certainly be the meeting of the FOMC (Federal Open Market Committee) of the US Federal Reserve on Wednesday, November 02, and the subsequent press conference of the regulator's management. In addition, the economic calendar can mark Monday October 31, when the data on GDP and the consumer market (CPI) of the Eurozone, as well as on the volume of retail sales in Germany, will be released. The value of the ISM Business Activity Index (PMI) in the manufacturing sector will become known the next day, on Tuesday, November 01, and that of the US services sector on Thursday, November 03. In addition, we are traditionally waiting for a portion of statistics from the US labor market on November 02 and 04, including the unemployment rate and the number of new jobs created outside the agricultural sector (NFP) of the country.

GBP/USD: Stake Larger Than Life

In general, the dynamics of GBP/USD followed the dynamics of the EUR/USD last week. The five-day low was recorded at 1.1257, the high was 1.1645, and the finish was at 1.1615. The coming week, or rather its second half, is expected to be much more turbulent, since in addition to the FOMC meeting of the US Federal Reserve, a meeting of the Bank of England is also due on Thursday, November 03.

There was such an old Polish adventure series called Stake Larger Than Life. In our case, the decision of the British Central Bank on the interest rate will determine how the pound will continue to live. And the fact that it will face numerous “adventures” is for sure.

At the height of the fiscal policy fiasco, the market briefly predicted that the pound rate would reach 3.90% after the November meeting. However, investors' appetites have subsided considerably, and they would like it to rise from the current 2.25% to at least 3.0%, that is, by 75 bp. However, strategists at ING, the largest banking group in the Netherlands, believe that the chances of a 50 bp rate hike are now higher, and this is a negative factor for the pound. Therefore, its further growth will be difficult. “The GBP/USD correction may continue to the 1.1750 area, but we doubt that this increase will last long,” ING says.

The opposite view is shared by their colleagues at Scotiabank. In their opinion, although the pound failed to break above 1.1650 on October 27, the pair will maintain a positive trend in the next few weeks. And the main support for it will be the level of 1.1400.

As for the median forecast, here the majority of analysts (50%) side with the bears, 15% have taken a neutral position, while the number of supporters of the strengthening of the pound is 35%. Among the oscillators on D1, 100% are on the green side, but a quarter of them are in the overbought zone. Among trend indicators, only 35% are red, 65% are green. The levels and zones of support for the British currency are 1.1550, 1.1475-1.1500, 1.1400, 1.1350, 1.1230, 1.1100, 1.0985-1.1000, 1.0750, 1.0500 and the September 26 low at 1.0350. When the pair moves north, the bulls will meet resistance at the levels of 1.1645, 1.1720, 1.1830, 1.1900, 1.1960, 1.2135 and 1.2200.

Of the events of the upcoming week, in addition to the mentioned meeting of the Bank of England, we can note the publication of the Business Activity Index (PMI) in the construction sector of the United Kingdom on Friday, November 04.

USD/JPY: The Mystery of the Pair's Collapse Is Revealed


As we predicted back in May, USD/JPY reached 115.00 in autumn, and it reached 151.94 on Friday, October 21, hitting a 32-year high this time. However, everything was clear in advance as for the growth of the pair. But what came as a shock was its subsequent massive collapse. The pair collapsed by more than 500 points within a few minutes: from 151.63 to 146.24. According to the Financial Times, the Bank of Japan (BOJ) sold at least $30 billion at that moment, in an attempt to support the yen. The pair turned around and soared again after this intervention: apparently, $30 billion was not enough. Another intervention followed on Monday, October 24, causing the pair to fall to 145.48. And then, a bounce up again. Last week's low was fixed at 145.10, while the last chord sounded much higher at 147.40. It is curious that all these jumps in the Japanese currency occurred against the backdrop of recent statements by Japanese Prime Minister Fumio Kishida that "sharp, one-sided movements of the yen are undesirable."

Such over-volatility in USD/JPY suggests that the Ministry of Finance and the Bank of Japan will have to work hard to stop demand for the dollar against the troubled yen. “The Japanese authorities are really in a quandary,” ING analysts comment. “We can easily understand their interest in not drawing the 150.00 line, given the market is very volatile, but by allowing the yen to break higher, they risk causing a sharp sell-off of the currency that Tokyo would like to contain in the first place.”

"Unless the BoJ moves to a less dovish stance, foreign exchange intervention remains the most viable option," ING adds. But, apparently, BoJ is not going to tighten its monetary policy. The regulator remained true to itself at its last meeting last Friday, October 28 and kept the interest rate at a negative, ultra-dove level of -0.1%. So now the pair's dynamics depends on whether the BoJ has enough money to intervene to withstand a rise in rates by the US Federal Reserve.

At the moment, half of the analysts believe that there will be enough money. And therefore, they vote for the downtrend of the pair. 30% have taken a neutral position and 20% are waiting for another victory for the dollar. The oscillators on D1 have a mixed picture: 50% are looking north, 30% are looking south, and 20% are gray neutral. Among the trend indicators, 85% are on the green side and 15% are on the red side. The nearest support level is 146.90, then 145.30, 143.75, 140.60, 140.00, 138.35-139.05 and 137.40. Resistance levels are 148.45, 149.45, 150.00, 151.55. The purpose of the bulls is to rise and gain a foothold above 152.00. Next are the 1990 highs around 158.00.

No important statistics on the state of the Japanese economy are expected to be released this week. The only interest is the publication of the report on the meeting of the Bank of Japan Monetary Policy Committee on Wednesday, November 02, in which market participants will try to catch at least hints of a possible change in the regulator's position.  In addition, traders should keep in mind that the country has a day off on Thursday, November 03, the National Day of Culture. And of course, one should not forget about possible “surprises” in the form of BoJ interventions in support of the yen.

CRYPTOCURRENCIES: Just a Rise? Or a Rise Before a Fall?

Following the growth of US stock indices (S&P500, Dow Jones and Nasdaq) last week, bitcoin and ethereum went up, bringing joy to investors. Against the background of the fact that BTC/USD has not been able to gain a foothold above the $20,400 mark since September 13, the bulls can consider what is happening to be their success. However, it should be noted that the pair has been migrating along the $20,000 Pivot Point in the medium-term $18,100-25,000 side corridor for 19 weeks, since mid-June. So, the rise to the last seven-day high of $21.015 can only be considered a local micro-success, but not a reversal of the bearish trend.

Intense tightening of the Fed's monetary policy has already put the US economy on the brink of a recession. One more step, and recession will become inevitable. Some experts believe that the economic downturn could force the US Central Bank to abandon quantitative tightening (QT), at least for a while, without curbing inflation to the end. Against this background, the correlation between the prices of bitcoin and gold over the past 40 days has reached a significant value of 0.5, which is a strong increase after this indicator was almost zero in mid-August. Bank of America opined that "the rapidly growing relationship with gold indicates that investors may view bitcoin as a relatively safe haven in a situation where there remains macroeconomic uncertainty in the world, and the market bottom may eventually be fixed".

The bitcoin community is divided over whether BTC will rise or fall next year. There is reason to believe that BTC is likely to collapse sharply in the coming months but will then rise in middle to late 2023. Most analysts and technical indicators suggest that bitcoin could drop to $12,000-$16,000 in the coming months. This correlates with a volatile macro environment, stock prices, inflation, Fed data, and (at least according to Elon Musk) a possible recession that could last until 2024.

For example, the well-known trader Ton Weiss believes that against the backdrop of the upcoming halving-2024, the quotes of the first cryptocurrency will reach $100,000 next year. But at the same time, he does not exclude the possibility of a fall in the price of digital gold to the level of $10,000-14,000 before the onset of the bull market. According to Weiss, capital flows from Europe to the United States and the syndrome of lost profits can become the engine of growth. “They missed their chance to catch the low in 2018. This is another possibility. If bitcoin ever drops below $10,000, investors will immediately take advantage of this,” the trader explained.

Many experts say that the upcoming halving could significantly push the BTC price up. This opinion is also shared by a well-known specialist aka PlanB, who predicts the price movement of the main cryptocurrency based on the Stock-to-Flow (S2F) model. He is supported by fellow trader and analyst Josh Rager, who also expects a significant increase in bitcoin, but only after halving in 2024. In his opinion, growth should not be expected before this event.

As you know, the last bitcoin halving occurred on May 11, 2020, when the reward for each created block was halved to 6.25 BTC. This reward will again be halved to 3.125 BTC per block during the fourth halving, which is expected to take place in May 2024.

The legendary trader and analyst Peter Brandt is of the same opinion. He said that bitcoin would reach a new all-time high in about 32 months, but it would first fall to $13,000. The expert believes that the first cryptocurrency will find this bottom at the beginning of 2023 and will not show “impressive” performance over the next year and a half.

According to Brandt, the US Federal Reserve is not going to ease monetary policy. He assumes that the regulator will raise interest rates by another 75 basis points at least twice more by the end of 2022 in order to combat inflation. However, the analyst expects that the value of the first cryptocurrency will no longer depend on other markets at some point. “Bitcoin will eventually correlate with bitcoin,” Brandt explained. The expert also noted that the cryptocurrency will become the “main store of value” in the next 10 years.

Recall that Peter Brandt has been working in the financial markets for more than 40 years, he is the creator of the Factor Trading service, which provides expert reports and analysis of asset value charts. Brandt has repeatedly noted that bitcoin is one of the largest parts of his investment portfolio.

Now more details about the forecast for the next 2 months. Most of the 564 crypto investors surveyed by MLIV Pulse think that bitcoin will continue to trade in the $17,600-25,000 price range. According to an October survey conducted by financial company Finder, the first cryptocurrency will be trading at $21,344 by the end of this year.

The forecast of Eight trading firm CEO Michael van de Poppe is a little more optimistic. He believes that bitcoin has been consolidating around $20,000 for too long and should soon get out of the corridor to shake things up. “Bitcoin will break through all levels within two to three weeks. And I think it will be up. I think we'll get to $30,000." This growth is evidenced by the outflow of BTC from centralized exchanges: investors withdraw funds to cold wallets in anticipation of the strengthening of the first cryptocurrency.

Other experts, on the contrary, believe that we will not see a surge either in the near future or in 2023. Gareth Soloway of InTheMoneyStocks has pointed out that there is a small chance that the coin could even crash to $3,500. “I think we will see a small bounce in the near future, then a wave down to $12,000-13,000, and then, I am afraid, we will move to $8,000-10,000, maybe even see a drop to $3,500,” he says. At the same time, Gareth Soloway warns that if BTC falls to $12,000 or below, it may not be profitable for miners to manage the ecosystem. This would mean that transactions are no longer being processed. And this, in turn, can not only damage the industry, but also destroy the bitcoin market.

According to billionaire Frank Giustra, the end of the bitcoin era will be actively promoted by the US authorities, who will destroy cryptocurrencies sooner or later. “I think the US authorities really want to be ahead of the rest of the planet in terms of blockchain, not in bitcoin, but in a state-owned digital currency that they can fully control. Like all other countries, they don't need bitcoin competition. Therefore, I see BTC as a game against sovereign fiat money,” Giustra said, adding that bitcoin has no chance of standing up to world governments.

Of course, such statements are alarming. But we wouldn't be us if we hadn't finished our review on an optimistic note. According to the mentioned survey conducted by the financial company Finder, the median forecast of analysts is that the price of BTC will reach $270,722 by 2030.

In the meantime, at the time of writing the review, on the evening of Friday October 28, the BTC/USD pair is trading in the $20,600 zone, the total capitalization of the crypto market is $1.005 trillion ($0.913 trillion a week ago). The Crypto Fear & Greed Index rose 7 points in seven days from 23 to 30 and moved from the Extreme Fear zone to the Fear zone. According to the creators of the Index, it is worth thinking about opening long positions at this point. Although, in our opinion, the situation is very shaky, and traders need to act as carefully and cautiously as possible.


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #264 on: November 01, 2022, 03:42:50 PM
AllForexRating Portal Visitors Name NordFX Best Crypto Broker 2022


The NordFX brokerage company has received numerous professional awards for achievements and innovations in the field of crypto trading starting from 2017. The title of Best Cryptocurrency Broker 2019 according to the authoritative international online portal FxDailyinfo is among them. NordFX was again named the Best Crypto Broker of this year already, 2022, at the very end of October. This award is the result of a vote on the AllForexRating.com portal, which forms a single conglomerate together with FxDailyinfo and ForexAllnews.

The winners in the AllForexRating Awards nominations were determined by an open vote of the online portal visitors, which makes this award especially valuable, as it reflects the opinion of the professional community most objectively. And we are sincerely grateful to all those who have voted for NordFX, for such a high appreciation of our work.

The possibilities of margin trading in cryptocurrencies were especially noted during the voting. Thus, for example, traders only need $150 to open a trade with a volume of 1 bitcoin, only $15 for a transaction in 1 Ethereum, $0.02 for a trade of 1 Ripple and $0.001 for a trade of 1 Doge. Thus, even with limited funds (the minimum deposit is only $10 on the Fix account), a trader can use various trading strategies or form their own investment crypto portfolio.

Traders and investors also pointed out the benefits of the new Savings Account from NordFX, which represents a unique know-how developed by the company's specialists, based on DeFi technology. The world's most popular stablecoin, Tether (USDT), the rate of which is secured by real US dollars in a ratio of 1:1, is used as the account currency. DeFi benefits allow account holders not only receive passive income up to 30% per annum, but also increase their profits by trading independently in the financial markets. It is just enough to take an instant trade loan at only 3% secured by the funds placed on the Savings Account.
 

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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #265 on: November 02, 2022, 03:35:47 PM
CryptoNews of the Week


- October 31, 2022, marks 14 years since Satoshi Nakamoto published the bitcoin white paper. The white paper described how the peer-to-peer payment system worked that would revolutionize the financial technology world.
The bitcoin network was launched in January 2009. Satoshi Nakamoto disappeared two years later, and the public has never been able to find out who wrote the document that underpins the multibillion-dollar industry. It is unknown as well whether it was one person or a group of people.

- UN Secretary-General António Guterres has noted that new technologies have “unsurpassed potential to improve the lives of people” but are also used to finance terrorism. “Terrorists are abusing new technologies to spread disinformation, foment discord, recruit and radicalize, mobilize resources and carry out attacks,” he said.
The UN plans to involve states in regulating the industry, to combat abuse of digital assets. Few countries, however, have begun work on regulation, and even fewer have “successfully applied it” to curb illicit activity. At the same time, cash and hawala, an informal financial settlement system used mainly in the Middle East, remain the predominant methods of financing terrorism.

- According to the Coin ATM Radar center, after the failure in September (minus 459 devices), the number of bitcoin ATMs in the world increased in October by more than 200 units and reached 38,823.
Robocoin installed the world's first such ATM in a coffee shop in Vancouver (Canada) on October 29, 2013. 348 transactions worth more than $100,000 were made through the device during the first week. This operator no longer exists, and the focus of distribution has shifted to the United States: the country accounts for 88% of the total number of bitcoin ATMs. Canada retains the second line of the world ranking with a share of 6.6%. Spain came in third on October 22, 2022, with 215 bitcoin ATMs, or 0.6% of the total. Recall that analysts at Grand View Research predict that the bitcoin ATM market will reach $1.88 billion by 2028.

- Former Goldman Sachs CEO and macro investor Raoul Pal has allowed the digital asset market capitalization to rise to $300 trillion in the next 10-15 years. According to him, the capitalization of almost all financial markets ranges from $200 trillion to $300 trillion. Pal believes that cryptocurrencies will also reach this level in the future as part of the “fastest and most massive growth” in history.
The expert's forecast is based on the amount of activity around the digital asset industry and Web3. Pal also noted an influx of $60 billion in venture capital investments over the past 18 months. He is confident that the market capitalization of cryptocurrencies will soar immediately after the end of the macroeconomic turmoil.

- The author of popular comics and books, American cartoonist Zach Weinersmith said that the only meaningful argument he heard from cryptocurrency supporters is that they do not want centralized power over money.” According to Weinersmith, gold can be used in this paradigm. Vitalik Buterin joined the discussion of his tweet and gave three arguments in favor of cryptocurrencies as money: 1. Gold is incredibly inconvenient and difficult to use, especially when dealing with unreliable parties. 2. It does not support secure storage options such as multi-signature. 3. Today, gold is less common than digital assets.
“So, cryptocurrencies are the best choice,” concluded the ethereum co-founder.

- Blockchain security firm Peckshield shared some horrifying statistics on digital asset theft on Halloween night. As of October 31, 2022, $2.98 billion worth of digital assets have been stolen, according to published data, nearly double the $1.55 billion lost in all of 2021.
October has broken all records, fitting its new nickname "Haktober". During this month alone, the attackers stole assets worth a whopping $760 million (although $100 million was recovered). After October, the second largest amount of stolen funds was in March, during which just under $710 million was stolen. Most of the losses were related to the hacking of the Ronin bridge used in the Axie Infinity sidechain, as a result of which $625 million worth of crypto assets were stolen.

- BNY Mellon, America's oldest bank, said that 70% of institutional investors would increase investment in crypto, albeit under certain conditions, such as "custody and execution that would be available in recognized, reliable institutions."
The BNY Mellon report notes that "nearly all institutional investors (91%) are interested in investing in tokenized products." But at the same time, they are looking for ways to enter the cryptocurrency market safely, and not invest recklessly in the hope of high profits.

- Grayscale Investment has released the results of its survey. Experts planned to find out how ordinary Americans feel about the cryptocurrency industry. Only 52% of those surveyed agreed that cryptocurrencies are the financial future. And only 44% of respondents said they were considering investing in digital assets. At the same time, the majority of respondents (81%) agreed that cryptocurrencies need clear regulation rules.

- Coinbase CEO Brian Armstrong predicts that bitcoin will become a reliable asset over the next 5-10 years that can provide investors with security in difficult times. The billionaire believes that the market capitalization of BTC is not yet large enough for the first cryptocurrency to act as a serious hedge asset. However, according to the businessman, everything can change around 2030, when the crypto market will grow and “take a large share of the global economy.” Bitcoin can be then treated as digital gold, investments in which can protect during a crisis.
The head of Coinbase admitted that he has now overestimated the chances of bitcoin to act as insurance against inflation. “I thought that the situation in the economy could draw more attention to BTC, but it looks like it’s too early,” the billionaire said.
Cathie Wood, manager of ARK Invest, shares a similar opinion. In her opinion, the capitalization of bitcoin will grow to $4.5 trillion, and it can become more valuable than most fiat currencies, including the US dollar.

- The cryptocurrency market flagship continues to trade above the $20,000 key level. Kitco News analyst Jim Wyckoff noted that bulls are technically dominating bears. The specialist does not rule out that consolidation may form on the market in the near future before the quotes move into a phase of stable growth. Wyckoff has not ruled out either that bitcoin could experience increased volatility in the coming weeks.

- An analyst aka Plan B believes that bitcoin is on the verge of a new cycle. The expert predicts an uptrend for two reasons. First, thanks to the recent rise in the value of bitcoin, investors who collectively own more than 60% of the available coins have made profits. According to Plan B, this factor indicates the upcoming BTC price pump. Secondly, the RSI index speaks in favor of the increase in the value of bitcoin. The value of this technical indicator has recently dropped to its all-time low, that is, the market has fallen into an extreme oversold zone, so a reversal is inevitable.
Researchers at Glassnode agree with Plan B. Their latest report says that the bitcoin market is currently in an accumulation phase, leading up to a massive bull run. There is a trend at the moment, similar to what happened at the beginning of 2019 before the rapid increase in bitcoin's value more than threefold.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #266 on: November 03, 2022, 10:47:19 AM
October Results: NordFX Traders Prioritize Gold and Pound Once Again, NASDAQ 100 Among Newcomers


NordFX Brokerage company has summed up the performance of its clients' trade transactions in October 2022. The services of social trading, PAMM and CopyTrading, as well as the profit received by the company's IB-partners have also been assessed.

- The absolute leader at the end of the month was a trader from Western Asia, account No. 1659XXX, whose profit amounted to 45,518 USD. This impressive result was achieved in trades with gold (XAU/USD), the British pound (GBP/USD) and with a fairly rare tool in the arsenal of traders: the NASDAQ 100 stock index (USTEC.C).

- The second step of the podium was taken by the representative of South Asia, account No. 1615XXX, with the result of 34,621 USD.Their profit was also received mainly through transactions with gold (XAU/USD).

- The same gold (XAU/USD), British pound (GBP/USD) as well as euro (EUR/USD) allowed another trader from Western Asia, account No. 1652XXX, to earn 30,501 USD and enter the top three.

The passive investment services:

- The long dormant signal of the MasterForex-V Trading Academy MF989923 became active in CopyTrading this month. This signal is a real long-liver, and has brought subscribers a profit of 546% in almost 8 years of its existence. Another "veteran", KennyFXPRO - Prismo 2K, continues to increase its pace, it has brought profit to 239% in 546 days with a maximum drawdown of about 45%. The second signal from the same provider, ­­KennyFXPro - The Cannon Ball, looks like this: a lifespan of 214 days, a profit of 73%, a drawdown of just under 13%.

Among startups, we note the auto 250 signal (47% profit/18% max drawdown/20 days of lifespan). Here, as usual, we recall that, in addition to a short lifespan, aggressive trading is a serious risk factor. Therefore, we urge you to exercise maximum caution when choosing signals for a subscription.

- In the PAMM service, the situation with the leaders remained the same over the past month. The same manager under the nickname KennyFXPRO is on the first line. The capital on his KennyFXPRO-The Multi 3000 EA account has been increased by 170% in 645 days. The TranquilityFX-The Genesis v3 account was also among the leaders, showing a 130% profit in 576 days. Both of these accounts have a very moderate maximum drawdown, about 20%.

Among the IB partners, NordFX TOP-3 is as follows:
- the largest commission, 10,261USD, was credited in October to a partner from Western Asia, account No. 1645ХXХ;
- next is a partner from Southeast Asia, account No. 1654XXX, who earned 5,202 USD during the month;
- and, finally, a partner from Southern Asia, account No.1660ХХХ, who received 3,932 USD as a reward, closes the top three.

***

Summing up the results of the month, it should be reminded that traders have received another great opportunity to earn money. NordFX has a Super Lottery for NordFX clients this year, where many cash prizes ranging from 250 USD to 10,000 USD will soon be drawn.

It is very easy to take part in the lottery and get a chance to win one or even several of these prizes. All the details are available on the NordFX website.
 

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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #267 on: November 06, 2022, 09:57:24 AM
Forex and Cryptocurrency Forecast for November 07 - 11, 2022


EUR/USD: Slower, Longer, Higher

Overall, last week passed, as predicted, without any majorsurprises. The main event was the FOMC (Federal Open Market Committee) meeting of the US Federal Reserve on Wednesday, November 2, at which it was unanimously decided to raise the key rate by 75 basis points (bp) to 4.00%. This is the highest level since 2008. Such a move was quite expected. Therefore, the subsequent press conference of the regulator's management was of greater interest to market participants. Fed Chairman Jerome Powell said at the meeting that although inflation must be reduced "drastically", monetary policy parameters can be changed as needed. The hint was that the pace of rate hikes could slow down from December, but the final rate level would likely be higher than previously thought.

The market received this message from the head of the Federal Reserve in different ways. Some decided that the US Central Bank kept the opportunity for further tightening of its monetary policy. Some believed that we in for the next, fifth in a row, rate hike by 75 bp in December. And some, on the contrary, took Powell's words as a signal that the basic step will no longer be 75, but 50 bp. That is, the vector of fighting inflation will change direction from “raising rates faster” to “raising rates more slowly, but longer.” Although, in this case, this is just a change of route, and the ultimate goal in both cases is the same.

Moreover, the market decided that the keywords here are not only “slower” and “longer”, but “higher” as well. Back in late October, the futures market predicted that the highest rate would reach 4.85% in March 2023. Now the peak of expectations has shifted to June, having risen to 5.1%. And the median rate forecast for the end of next year rose from 4.46% to 4.8%.

Many analysts believe that a slowdown in the Fed's monetary tightening (QT) will allow rival currencies to counter the oncoming dollar more effectively. Now the central banks of other countries are catching up, not having time to raise their rates at the same pace as in the US. If the Fed moves more slowly, they will be able, if not to overtake their American counterpart, at least to close the gap or catch up with it.

Following the FOMC meeting, the DXY Dollar Index moved up, hitting 113.00. The US currency strengthened against all G10 currencies, except for the Japanese yen. Then a reversal followed, and before the release of the data on unemployment in the US on Friday, November 04, it fell to 112.35, and EUR/USD consolidated around 0.9800.

Labor market data showed that non-farm payrolls in the US (NFP) stood at 261K in October, up from the 200K forecast but below September's 361K. The unemployment rate in the country rose from 3.5% to 3.7% over the month, while the forecast was 3.6%. The market took this as a negative signal for the dollar, DXY fell to 110.80, and EUR/USD went up and ended the week at 0.9958.

Overwhelming majority of analysts, 90%, support the fact that it will continue to move south in the near future, and only 10% expect a correction to the north. Among the oscillators on D1, 40% are green, the same number are red, and 20% are neutral. Among the trend indicators, the advantage is on the side of the green ones. 65% advise buying the pair and 35% selling.

The immediate support for EUR/USD is at 0.9865-0.9885, followed by 0.9825, 0.9765, 0.9700, 0.9645, 0.9580 and finally the Sep 28 low at 0.9535. The next target of the bears is 0.9500. For the bulls, the first priority will be to break the 1.0000 barrier. Then they will meet resistance at the levels of 1.0100, 1.0250, 1.030 and 1.0370.

Of the notable events of the upcoming week, first of all, we should note the data on retail sales in the Eurozone, which will be published on Tuesday November 08. There will be data on the consumer market (CPI) and the US labor market on Thursday, November 10. And on Friday, November 11, we will find out the value of the German CPI and the US University of Michigan Consumer Confidence Index.

GBP/USD: BoE Failed to Help the Pound

If a slowdown in US QT is going to help certain currencies, the pound doesn't seem to be one of them. The Bank of England (BoE), as well as the Fed, raised the key rate by 0.75% at its meeting on Thursday, November 03, from 2.25% to 3.00%. This move was the strongest one-time rate hike since the late 1980s. However, this did not help the British currency, and it continued to fall, fixing the weekly low at around 1.1144.

It would seem that the new Prime Minister has been elected, tax cuts have been abandoned, and the rate has been raised. What else do investors need? First of all, they need confidence that the rate will continue to grow at the same pace. But there is no such certainty.

Following Jerome Powell, BoE chief Andrew Bailey hinted that the pace of rate hikes could be slowed down in the future. That is, the dollar will remain in the lead in this parameter. Although, according to Mr. Bailey, a repeat of the 1970s crisis is unlikely, the threat of a prolonged recession forces the regulator to act very carefully. It is important not to strangle the economy in the rush to defeat inflation and not to bring down the labor market. According to the forecasts of the Bank's economists, the country's GDP will decrease by about 0.75% in the second half of this year. At the same time, the decline will last until mid-2024.

Investors were also disappointed by the Retail Price Index published last week by the British Retail Consortium (BRC). Thus, the average prices in stores in October, with a forecast of 5.5%, in reality grew by 6.6%. Most of all, prices for food products rose, by 11.6%, and the “food basket” rose by 9.4%. According to the BRC, the reasons for the next jump in inflation are still the same as before: the energy supply crisis caused by anti-Russian sanctions and the lack of skilled labor, in the struggle for which employers are forced to constantly raise wages.

In such a difficult environment, the Bank of England will most likely not be able to stick to a certain line and will toss between tightening (QT) and easing (QE) its monetary policy, trying to find a balance. However, there is no guarantee that it will be able to do this, and such throws will cause increased volatility in the British currency quotes.

Against the backdrop of weak data from the US labor market, GBP/USD corrected to the north at the very end of last week and set the last chord at 1.1373. However, strategists at ING, the largest banking group in the Netherlands, believe that it may soon retest the 1.1000 level. At the same time, when moving to a long-term forecast, one can hope for some positive things. For example, economists at the Australian bank Westpac predict that the pound will trade at 1.2000 by the end of 2023, and it will reach 1.2700 by the end of 2024.

As for the median forecast of analysts for the near future, the advantage of bears over bulls is insignificant here: 55% to 45%. Among the D1 oscillators, 25% are on the green side, 40% are on the red side, and 35% are comfortably settled in the neutral gray zone. Among trend indicators, 65% are red, 35% are green. The levels and zones of support for the British currency are 1.1350, 1.1230, 1.1150, 1.1100, 1.1060, 1.0985-1.1000, 1.0750, 1.0500 and the September 26 low at 1.0350. When the pair moves north, the bulls will meet resistance at the levels of 1.1435, 1.1475-1.1500, 1.1560, 1.1600-1.1625 1.1645, 1.1720, 1.1830, 1.1900, 1.1960, 1.2135 and 1.2200.

Of the events of the upcoming  week, attention is drawn to the data on the GDP of the United Kingdom, which will be published on Friday November 11. The forecast looks disappointing and foreshadows a fall in Q3 2022. by -0.1% (+0.2% in Q2).

USD/JPY: Intervention from BoJ: Yes or No

FX interventions by the Bank of Japan (BoJ) at the end of October helped stabilize the yen, and USD/JPY ended the five-day period at 146.64, in the middle of the 145.30-148.85 channel. At the same time, the country's finance minister, Shunichi Suzuki, said on Friday, November 04 that the government has no intention of directing the currency to certain levels through interventions. And that the exchange rate should move steadily, reflecting fundamental indicators, and monetary policy is up to BoJ.

Such a statement may put downward pressure on the Japanese currency, as there may not be new interventions, and the Bank of Japan is not going to leave the ultra-dove rate and will keep the rate at the negative level of -0.1%.

Recall that USD/JPY reached the height of 151.94 on October 21, having renewed its 32-year high. But then, within just a few minutes, it collapsed by more than 500 points, from 151.63 to 146.24. According to the Financial Times, at that moment, the Bank of Japan sold at least $30 billion in an attempt to support the yen. After this intervention, the pair turned around and soared again: apparently, $30 billion was not enough. And another intervention followed on Monday, October 24, causing the pair to fall to 145.48. The last chord sounded at 147.40 on October 28. A week later, on November 4, the pair finished less than 100 points from this zone, at 146.64.

65% of analysts do not exclude that USD/JPY will try to test the 150.00 level again, and if successful, to rise above 152.00. 25% believe that the Japanese Central Bank will decide on one or more interventions, and therefore vote for the pair's downtrend. 10% expect further movement in the side channel. The oscillators on D1 have a mixed picture: 20% are looking north, 40% are looking south, and 40% are gray neutral. Among trend indicators, the ratio of green and red is 50% to 50%.

The nearest support level is 146.40, then 145.30, 143.75, 140.60, 140.00, 138.35-139.05 and 137.40. Resistance levels are 146.85, 147.50, 147.90-148.00, 148.45-148.85, 149.45, 150.00, 151.55. The purpose of the bulls is to rise and gain a foothold above the height of 152.00. Then there are the 1990 highs around 158.00.

No important statistics on the state of the Japanese economy are expected to be released this week.

CRYPTOCURRENCIES: BTC/ETH – Who Wins?


Let's start with the birthday. Monday, October 31, 2022 marks the 14th anniversary of the birth of the flagship cryptocurrency. Satoshi Nakamoto published the bitcoin white paper on this day in 2008. The white paper described how the peer-to-peer payment system worked that would revolutionize the financial technology world. The bitcoin network was launched in January 2009. Satoshi Nakamoto disappeared two years later, and the public has never been able to find out who wrote the document that underpins the huge industry. It is unknown as well whether it was one person or a group of people.

Bitcoin has lived a very turbulent life during these 14 years. It rose and fell, then got back on its feet and fell again. It climbed onto the crest of the wave and fell into the abyss. Starting from scratch, it came close to $70,000 on November 07, 2021. And now it is trading in the $20,000 zone, having fallen in price by 70% in a year.

Of course, it is important to know what happened before. But we are much more concerned about what the future holds for us. And here the forecasts of experts are volatile as well as the quotes of bitcoin itself are volatile. Some predict the inevitable death of the crypto market for the umpteenth time, while others expect a take off to unprecedented heights. For example, ARK Invest fund manager Cathie Wood believes that the capitalization of bitcoin will grow to $4.5 trillion (currently about $0.39 billion), and it will be able to become more valuable than most fiat currencies, including the US dollar.

Coinbase CEO Brian Armstrong shares this opinion, predicting that bitcoin will become a reliable asset over the next 5-10 years that can provide investors with security in difficult times. The billionaire believes that the market capitalization of BTC is not yet large enough for the first cryptocurrency to act as a serious hedge asset. However, according to the businessman, everything can change around 2030, when the crypto market will grow and “take a large share of the global economy.” Bitcoin can be then treated as digital gold, investments in which can protect during a crisis.

Former Goldman Sachs executive and macro investor Raoul Pal is also looking ahead, allowing the digital asset market capitalization to rise to $300 trillion in the next 10-15 years. According to him, the capitalization of almost all financial markets ranges from $200 trillion to $300 trillion. Pal believes that cryptocurrencies will also reach this level in the future as part of the “fastest and most massive growth” in history. He is confident that the market capitalization of cryptocurrencies will soar immediately after the end of the macroeconomic turmoil.

After the Fed's decision to raise interest rates again, risky assets sank down. However, poor data from the US labor market came to their aid. As a result, at the time of writing the forecast, on the evening of Friday, November 04, BTC/USD, together with the S&P500, Dow Jones and Nasdaq stock indices, turned north and is trading at $21,180, trying to gain a foothold above $21,000. However, it is not at all certain that it will succeed. And if the main risky assets start to fall again, the main cryptocurrencies may follow them.

Kitco News analyst Jim Wyckoff believes that the crypto market's flagship will succeed. In his opinion, in technical terms, the bulls now dominate the bears. The specialist does not rule out that consolidation may form on the market in the near future before the quotes move into a phase of stable growth. Wyckoff has not ruled out either that bitcoin could experience increased volatility in the coming weeks.

A well-known analyst aka Plan B also believes that bitcoin is on the verge of a new upward cycle. The expert predicts the growth of the coin for two reasons. First, thanks to the recent rise in the value of bitcoin, investors who collectively own more than 60% of the available coins have made profits. According to Plan B, this factor indicates the upcoming BTC price pump. Secondly, the RSI index speaks in favor of the increase in the value of bitcoin. The value of this technical indicator has recently dropped to its all-time low, that is, the market has fallen into an extreme oversold zone, so a reversal is inevitable.

Researchers at Glassnode agree with Plan B. Their latest report says that the bitcoin market is currently in an accumulation phase, leading up to a massive bull run. There is a trend At the moment, similar to what happened at the beginning of 2019 before the rapid increase in bitcoin's value more than threefold.

However, for the crypto market to go up, institutional investors must move from sell-off or hibernation to accumulation. The mood of the general public (the so-called shrimps) is of course important, but the mood of the whales is much more important.

BNY Mellon, America's oldest bank, said that 70% of institutional investors would increase investment in crypto, albeit under certain conditions, such as "custody and execution that would be available in recognized, reliable institutions." The BNY Mellon report notes that "nearly all institutional investors (91%) are interested in investing in tokenized products." But at the same time, they are looking for ways to enter the cryptocurrency market safely, and not invest recklessly in the hope of high profits.

As for ordinary people, we can cite the results of another survey conducted by Grayscale Investment. Only 52% of ordinary Americans surveyed agreed that cryptocurrencies are the financial future. And only 44% of respondents said they were considering investing in digital assets. At the same time, the majority of respondents (81%) agreed that cryptocurrencies need clear regulation rules.

The question of whether the regulation of the crypto market is good or bad is still open. For example, many experts consider the threat of increased attention to Ethereum from the SEC (U.S. Securities and Exchange Commission) as negative factors.

It has been a month and a half since the leading altcoin moved from the PoW algorithm to PoS, after which the responsibility for building blocks has passed from miners to validators. The developers consider the main advantage of this change in the algorithm to be the reduction in network energy consumption from peak 112 TWh/year to 0.01 TWh/year. With regard to ETH, this practically nullified all the claims of environmentalists related to environmental pollution by miners. However, as a result of this step, the coin is increasingly moving away from what Satoshi Nakamoto introduced to the concept of cryptocurrency: the network has become more centralized and the SEC's desire to deprive ethereum of its cryptocurrency status has increased, replacing it with the status of a security and subjecting it to stricter regulation. SEC Chairman Gary Gensler hinted at this on the day of the transition to PoS.

At the same time, it would be naive to think that only ethereum will be in the clutches of financial regulators. Certainly, bitcoin will also be subject to sanctions. So both cryptocurrencies are on an equal footing in this regard. But in terms of network development and its prospects, ethereum has clearly overtaken its older colleague in the past few months. This is clearly seen on the chart of BTC/ETH. Since mid-June, it fell from a high of 20.3 to 13.0 and returned to the values of the beginning of the year.

At the time of writing this review, on the evening of Friday November 04, BTC/USD is trading in the $21,180 area, ETH/USD - $1,650. The total capitalization of the crypto market is $1.055 trillion ($1.005 trillion a week ago). The Crypto Fear & Greed Index has not changed in seven days and is in the Fear zone, at the level of 30 points. According to the index developers, one can think about opening long positions at such a moment. Although, in our opinion, the situation is very shaky, and traders need to act as carefully and cautiously as possible.


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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #268 on: November 09, 2022, 02:26:58 PM
CryptoNews of the Week


- The bankruptcy of the FTX exchange collapsed the crypto market. After it became known about the liquidity crisis of Alameda Research, a crypto trading company owned by FTX CEO Sam Bankman-Fried, Binance CEO Chang Peng Zhao published a message about selling FTT tokens. The relationship between Binance and FTX is a complex and long story, starting with Binance receiving $2.1 billion for withdrawing from FTX investments.
Recall that FTT is a token created by the FTX team, and Chang Peng Zhao’s actions immediately led to a rapid drop in its value. FTX users began to massively try to withdraw their savings. During the day, all BTC (about 20,000 units) were withdrawn from the exchange, and the exchange's balance is currently negative. In addition to FTT, the price of Sol and other tokens of the Solana project, which is linked to both FTX and Alameda, fell sharply as well. Other cryptocurrencies have also been affected by the decline.
Binance CEO Chang Peng Zhao announced on Tuesday, November 08 that his exchange is going to buy FTX, which is facing a liquidity crisis. However, this is currently just an intention that is not binding.
Against the background of all these events, bitcoin fell significantly in price, falling by 14.2% on November 8: from $20,701 to $17,756. Ethereum “shrunk” by 28%, it fell from $1,577 to $1,135. The total capitalization of the crypto market has decreased from $1.040 trillion to $0.853 trillion. As experts explained, “investors don't like to see any disruptions in any risky asset.”

- Nigerian presidential candidate Adewole Adebayo said that the introduction of the latest technology will help reduce unemployment in the country and promised to use blockchain and digital currencies to create 30 million jobs. His future administration intends to join forces with 2,000 local cryptocurrency companies to do this.
Residents of another country, Lebanon, whose national currency has fallen by 96% against the US dollar, see salvation in cryptocurrencies as well. Inflation has hit triple digits since August 2019, and the minimum wage has been cut from $450 to $17, according to CNBC. As a result, mining has replaced full-time jobs for some of the country's citizens.

- The total volume of lost bitcoins, as well as digital gold in the wallets of long-term crypto investors, has reached a five-year high. This means that the active market supply of cryptocurrency is decreasing, promising optimistic prospects for prices, provided that demand increases or remains constant.
Cumberland, the cryptocurrency arm of venture capital firm DRW, also believes that a “promising uptrend” is forming in the volatile digital asset market. “The dollar's seemingly inexorable rally ended up killing sentiment in all major risk asset classes earlier this year,” the firm said. “This rally seems to have peaked, probably as a result of expectations that the Fed will change course by mid-2023.” Another tailwind for digital assets, according to Cumberland, is the easing of geopolitical turmoil, namely the armed conflict between Russia and Ukraine, and the resolution of problems in supply chains.

- Many on-chain metrics, including Pewell's multiplier, RHODL Ratio, and Reserve Risk, signal that bitcoin is deeply oversold and is likely to reach the bottom of the bearish market. This is stated in October analytical report by ForkLog. At the same time, some indicators point to the risk of a new wave of redistribution and price consolidation in the range of $16,500-21,100.

- Having analyzed bitcoin’s previous price action, including its upper highs and lower lows since November 2021, crypto analyst Moustache concluded that the cryptocurrency has displayed a “bullish megaphone pattern.” In his opinion, the expanding model, which looks like a megaphone or an inverted symmetric triangle, indicates that bitcoin could reach $80,000 around the summer of 2023.
As for the shorter-term outlook, some analysts believe that bitcoin could regain a critical support level by the end of 2022 and possibly even regain its $25,000 high.

- Speaking at Web Summit 2022, billionaire Tim Draper predicted that the price of the first cryptocurrency would rise to $250,000 by mid-2023. However, this prediction is not new at all. Back in 2018, Draper predicted bitcoin at $250,000 by 2022, moved the forecast to early 2023 in the summer of 2021, and extended it now for another six months.
Draper is confident that women will be the main driver of the next bull market, as they control about 80% of retail spending. “You can’t buy food, clothing, and housing with bitcoin just yet, but once you can, there will be no reason to hold on to fiat currency,” the billionaire added.
He also called digital gold an insurance against mismanagement and noted that cryptocurrencies prevent the government from controlling the population. “You saw speculators get out of bitcoin. Only hodlers remain, they're into it. They say it creates a freer and more trusting world. [Bitcoin] is an honest currency, not tied to banks and governments. It is decentralized,” Tim Draper explained.

- Mastercard Chief product officer Michael Miebach believes that it will take longer than expected for cryptocurrency to become mainstream. In his opinion, this asset class will become much more attractive to people as soon as the supervisory authorities introduce the appropriate rules. Many people want but do not know how to enter the crypto industry and how to get the maximum protection for their assets.
Like Tim Draper, Miebach sees a future world where the majority of consumers around the world use bitcoin in their daily transactions and settlements. However, he believes that this will not happen in the coming months: “I think there is a long way to go before cryptocurrency becomes mainstream.”

- The Australian Securities and Investments Commission (ASIC) has determined that cryptocurrency fraud falls into three categories. The first relates to fraud, where the victim believes they are investing in a legitimate asset. However, the crypto app, exchange, or website turns out to be fake. The second category of scams involves fake crypto tokens used to facilitate money laundering activities. The third type of fraud involves the use of cryptocurrencies to make fraudulent payments.
ASIC says the top signs of a crypto scam include “getting an offer out of the blue,” “fake celebrity ads,” and asking a “Put option partner you only know online” to send money in crypto.
Other red flags include asking to pay for financial services in crypto, asking to pay more money to access funds, withholding investment profits "for tax purposes" or offering "free money" or "guaranteed" investment income.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market



Stan NordFX

  • Sr. Member
  • ****
  • Posts: 268
    • View Profile
Reply #269 on: November 11, 2022, 02:26:00 PM
NordFX Is Named Most Reliable Forex Broker Asia 2022 by Finance Derivative Awards


Finance Derivative magazine announced the Awards 2022. The overall winners for Sustainable Banks, Internet, Retail, SME, Innovative Banks and Forex Broker and Asset Management Company were announced. NordFX brokerage company is among the winners.

This year, nearly 500 individual companies & banks from around the world entered the competition. The Awards judging panel was comprised of representatives from global leaders in consulting, technology, and outsourcing solutions. Based on the judge’s panel evaluations, Finance Derivative’s Editor made the final selections.

“We would like to congratulate you and offer special recognition and appreciation for your outstanding performance and dedication to excellence, honoring your outstanding performance", the editorial letter reads. “We are delighted to announce that NordFX is the Winner for the Category Most Reliable Forex Broker Asia 2022”.

Finance Derivative is a global finance and business analysis magazine, published by FM. Publishing, Netherlands. Being one of prime print and online magazines providing broad coverage and analysis of the Finance industry, International Business and the global economy empowering the businesses and Corporate Companies around the world. The leadership articles are read by industry professionals at all levels of banking, financial services, payment solutions and insurance as well as technology and consulting executives.
 

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.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market



 

Related Topics

  Subject / Started by Replies Last post
2 Replies
4999 Views
Last post October 11, 2018, 09:20:58 AM
by Dunfolo


-

Discussion Forum / 论坛 / منتدى للنقاش/ Diễn đàn thảo luận/

-
Disclaimer : The purpose of this website is to be a place for learning and discussion. The website and each tutorial topics do not encourage anyone to participate in trading or investment of any kind. Any information shown in any part of this website do not promise any movement, gains, or profit for any trader or non-trader.

By viewing any material or using the information within this site, you agree that it is general educational material whether it is about learning trading online or not and you will not hold anybody responsible for loss or damages resulting from the content provided here. It doesn't matter if this website contain a materials related to any trading. Investing in financial product is subject to market risk. Financial products, such as stock, forex, commodity, and cryptocurrency, are known to be very speculative and any investment or something related in them should done carefully, desirably with a good personal risk management.

Prices movement in the past and past performance of certain traders are by no means an assurance of future performance or any stock, forex, commodity, or cryptocurrency market movement. This website is for informative and discussion purpose in this website only. Whether newbie in trading, part-time traders, or full time traders. No one here can makes no warranties or guarantees in respect of the content, whether it is about the trading or not. Discussion content reflects the views of individual people only. The website bears no responsibility for the accuracy of forum member’s comments whether about learning forex online or not and will bear no responsibility or legal liability for discussion postings.

Any tutorial, opinions and comments presented on this website do not represent the opinions on who should buy, sell or hold particular investments, stock, forex currency pairs, commodity, or any products or courses. Everyone should conduct their own independent research before making any decision.

The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. You should obtain individual trading advice based on your own particular circumstances before making an investment decision on the basis of information about trading and other matter on this website.

As a user, you should agree, through acceptance of these terms and conditions, that you should not use this forum to post any content which is abusive, vulgar, hateful, and harassing to any traders and non-traders.