Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Mon Aug 24, 2020 3:54 pm

is this legit at all?
Specify your question? What exactly did you mean?

Stan NordFX
Nickel Bitcoiner
Nickel Bitcoiner
Posts: 198
Joined: Sat Apr 27, 2019 3:07 pm

Re: Nordfx broker: news, weekly Analytics

Mon Aug 24, 2020 3:56 pm

Forex and Cryptocurrency Forecast for August 24 - 28, 2020


First, a review of last week’s events:

- EUR/USD. We noted in the previous forecast that only a clear breakdown of the channel 1.1700-1.1910 in one direction or another can give a clear idea of the dominant trend in conditions of subsiding activity. It is in this range that the pair has been moving for four weeks. But the breakdown never happened: after all it is August, holidays, and no extra events capable of stirring up markets, have not yet happened. The situation shows that investors are ready to buy back even very small drawdowns and close positions with very moderate profits. As a result, the breakthrough to 1.1965 did not bring success to the bulls, and the pair returned to the sidelines1.1700-1.1910, having finished the week not far from its central line, in the 1.1795 zone;

- GBP/USD. The British currency has also moved into a side trend, where it has stayed for the third week in a row. The main difference in the last five-day period was some dominance of bullish sentiment, caused rather by a general weakening of the dollar rather than a strengthening of the pound. And if the 1.3075 horizon could be viewed as Pivot Point in the first half of August, it has now turned into a level of support. Pushing off from it, the bulls raised the GBP/USD pair twice to aеру height of 1.3265, and twice it returned to the indicated support, near which, at the level of 1.3090, it put the final point;

— USD/JPY. The 106.00-108.10 zone is the range in which the pair has been trading 75% of the time over the past 20 weeks. And all the experts were sure that it would stay within these limits last week, moreover, that it would rise to its upper limit. However, the expected strengthening of the dollar did not happen, and those oscillators that warned against opening long positions, giving signals of overbought, turned out to be right. As a result, the pair, having broken through support 106.00, groped the local bottom of 100 points lower. Then, after the rebound, it could not overcome the level of 106.00, which has now become resistance, and completed the trading session at 105.80;

– cryptocurrencies. Bitcoin has gone from $4,000 to $12,000 over the past five months. Many experts believe that the main reason is the huge dollar mass that the US Federal Reserve has thrown into the market to overcome the crisis caused by the COVID-19 pandemic. By diversifying their portfolios, investors invested some of this money in real gold and digital gold, which have shown steady growth in recent months. Another part went where it was intended, to the stock market. But if bitcoin showed an increase of 200%, the gold rose in price by a little more than 30%, and the S&P500 index barely crossed the 50% mark.
In the United States, according to the financial analytical portal TradingView, the main cryptocurrency has surpassed the shares of leading American companies in popularity, losing only to Tesla Elon Musk. Boeing took the third place in views.
The data from another survey conducted by a well-known analyst under the nickname Plan B is Interesting as well, it was attended by 22.6 thousand Twitter users. When asked “At what price will you get rid of bitcoin if it does not rise sharply in the next few years?” 5.8% of respondents named the price below $1000, about the same amount - the range of $1000- $3000. 16.2% of those surveyed would have sold the coins at around $6,000. The remaining 72% of the survey participants said that they would continue to hold bitcoin even if its price approached zero.
In the meantime, the quotes of the leading cryptocurrency are very far from the "zero" level. Bitcoin is swinging on the scales against the dollar - when the USD (DXY) index goes down, BTC goes up, and vice versa. As most of our experts assumed, when at the beginning of last week, the DXY dropped from 93.1 to 92.16, the BTC/USD pair jumped upward, broke through the resistance of $12,000 and reached the height of $12.470. The dollar then returned to levels above 93, and bitcoin dipped to a new, fairly strong, support level, $11,600.
The total capitalization of the crypto market changed slightly over the week, falling from ¬$370 billion to $366 billion. The Bitcoin Fear & Greed Index is in the last quarter of the scale for the fourth week and has even grown slightly — from 78 to 81 points. This suggests that the decline in the pair from $ 12,470 to $ 11,600 did not satisfy the market and it remains overbought.
And a few words about altcoins. Lately, a lot of attention - and rightly so - has been paid to ethereum. The Block analyst Larry Cermak believes that while the trend continues, ethereum could become the most sought-after asset in the corporate environment. “The commission revenues of Monero, Bitcoin Cash and BSV miners remain negligible. I think that there will be two big players in this game soon, bitcoin and ethereum. In his opinion, the difference in their indicators will become so obvious soon that the altcoin will be officially recognized as the leader.
However, at the moment it was not ETH which was the most profitable acquisition on the market, but yearn. finance (YFI). It was this coin that showed twenty-fold growth in a month and outstripped even bitcoin in value, reaching the height of $15,400. By the way, the YFI developers decided to follow the path of the leading cryptocurrency, limiting its circulation to only 30,000 coins, which led to such a jump in value. It is not at all a fact that the YFI price will hold at this level or go further up. It is possible that we will soon witness its equally rapid downfall. The aforementioned fact only suggests that, in addition to coins from the TOP-10, instruments have appeared, appear and will still appear on the crypto market that can bring hundreds and thousands of percent of profit due to short-term speculation.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The number of initial claims for unemployment benefits again exceeded 1 million in the United States last week. The statistics on manufacturing activity in New York and Philadelphia were also quite sad. Against this backdrop, the bulls made an attempt to renew multi-month highs and raise the pair above 1.2000. The attempt ended in failure, the pair returned to the limits of the channel 1.1700-1.1910, and the main benchmark for the market still remains the prospects of another, autumn round of the pandemic COVID-19.
At first glance, the better epidemiological situation in Europe should convince investors that the eurozone economy will recover faster than the US economy. But the situation is getting worse every day. In Germany, the rate of infected with COVID-19 exceeded the highs in May, in France, the number of cases increased by 50% in a week, jumping over 1,500, in Spain, about 4,800 cases of infections are recorded daily, which, in terms of 1 million people, is only 25% less than in the USA. So, it is quite possible that quarantine measures in the EU will be tightened again, causing another blow to the economy, and the ECB will be forced to expand its quantitative easing (QE) program. This, in turn, will push the EUR/USD pair down.
On the other hand, the dollar, apart from doubts about the pace of recovery of the US economy, continues to be pressured by the growth of money supply from the Fed, the growth of national debt, the decline in government bond yields, tug-of-war in the confrontation with China, and uncertainty about the upcoming presidential election. As a result, the USD (DXY) index, which shows the ratio of the dollar to 6 major currencies, fell from the highs of mid-March (104 points) to the lows of May 2018 around 92-93 points.
Today, the preferences of most analysts are still on the side of the dollar. 60% of them believe that the EUR/USD pair is able to break the support of 1.1700 and fall at least another 100 points lower. According to the remaining 40%, the pair will still remain within the trading range of 1.1700-1.1910, with which the graphical analysis on D1 agrees.
The indicators on H4, working out the trend of the second half of the last week, are naturally colored red. But on D1 there is a complete color confusion, which confirms the forecast of sideways movement.
And now positive information for those who, in the medium term, are betting on the victory of the euro over the dollar. If you look at the options market, it does not exclude the growth of the EUR/USD pair to the levels of 1.2200-1.2500. However, it is necessary to keep in mind that COVID-19 will surely put everything in its place this autumn. And one of the decisive factors here may be the emergence of a vaccine against this scourge and the speed and scale of vaccination in different countries.
EURUSD 24.08.jpg
- GBP/USD. “As the euro, so the pound” — this is how the forecast for the GBP/USD pair sounds for the third week in a row. As with EUR/USD, 60% of experts vote for the turn of the pair down. They are supported by 75% of oscillators, 80% of indicators and graphical analysis on H4. The closest strong support is at 1.3000. In case of its breakout, the bears will try to move the pair to echelon 1.2665-1.2765.
But on D1 there is still a slight advantage for the “green” ones among the indicators. In addition, signals about the pair being oversold are also signaled by 25% oscillators on H4. According to 40% of analysts, two side channels can be drawn for the pair. The first, narrow one - 1.3075-1.3185, and the second, wider in case of increased volatility - 1.3000-1.3265. The goal of bulls to update the 2019 high of 1.3515 is hardly achievable in the coming days;

— USD/JPY. 50% of experts believe that the pair will again try to test the strength of the support in the 105.00 zone and reach the low of July 31, 104.18. This scenario is supported by 60% of oscillators and 100% of trend indicators on D1. The rest of the indicators on both timeframes are colored neutral gray. 15% of analysts have also taken a neutral position. As for the remaining 35% of experts, they predict the pair will return to the trading range 106.00-108.10;

– cryptocurrencies. The news feed, as usual, is full of optimistic crypto-guru statements.
Anthony Pompliano, CEO of Morgan Creek Investment Company: “I think bitcoin will surpass gold in capitalization by 2029. Then most of the financial institutions will stop being afraid of cryptocurrency and start investing large amounts in it. The dollar and other currencies this year have shown weakness in the face of geopolitical fluctuations and even pandemics. Bitcoin has not only resisted, but also increased its potential”, Pompliano said.
Jason Williams, co-founder of venture capital firm Morgan Creek Digital, is confident that legendary investor and adversary of cryptocurrencies Warren Buffett will eventually see bitcoin in the investment portfolio of his holding company Berkshire Hathaway. And it can happen even without his knowledge. 'These are young managers and analysts who are pushing gold trading and BTC trading. He won't even know when it happens," Williams explained.
Bitcoin price will reach $100,000 next summer, to be exact, on August 16, 2021. This forecast was published by an analyst under the pseudonym Bit Harrington, based on the popular Stock-to-Flow (S2F) model used in the gold market. He added that the value seems too high to him for such a period but noted that bitcoin has always gone against bearish sentiment.
Analyst and entrepreneur Mark Van Der Chase explained why this forecast could well come true. “A lot of people think it's impossible,” he wrote, “but I've seen 1,000% growth in less than a year at least twice in BTC history (in 2013 and 2017). S2F holds up pretty well after the halving. If the fear of lost profits resumes, anything is possible. "
- The head of Galaxy Digital holding Mike Novogratz has once again stated that the value of bitcoin should increase to at least 20 thousand dollars by the end of this year. And the analyst Plan B, who was the first to apply S2F to bitcoin, presented a chart according to which this cryptocurrency may, for the first time since 2017, reach the level of $ 14,000 in the next week or two.
It is interesting that, despite such optimistic statements, most experts look at the prospects for BTC quite calmly. They do not exclude that bitcoin, as an alternative to fiat currencies, will receive a new growth impetus during the second wave of the pandemic. If, of course, it happens this fall. But so far 70% of analysts expect that in the first half of autumn the BTC/USD pair will move along the Pivot Point of $11,000 with one-time emissions up to $9,500 to the south and to $13,000 to the north. And only 30% of experts believe that in the coming weeks the pair will be able to steadily gain a foothold above $12,000.


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 #forex #cryptocurrencies #bitcoin #stock_market

Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Thu Aug 27, 2020 12:33 pm

CryptoNews
CryptoNews 26.08.jpg
- A new report by the cryptocurrency fund Grayscale Investments states that the current structure of the BTC market is similar to that of early 2016 before the historic bullish growth began. Fund analysts predict that demand for bitcoin will rise significantly as inflation accelerates. At the same time, their report provides readings of several network indicators indicating the growing interest in this cryptocurrency. This is confirmed by the number of active addresses, which is at the highest level after the record highs of 2017. Also, against the background of historical lows in the number of bitcoins stored in the "reserves" of cryptocurrency exchanges, the number of long-term investors has increased. This suggests that the demand for bitcoin is not just growing, but at some point, may even seriously exceed the supply.

- A hacker stole the personal data of users of the CryptoTrader.Tax service, which is intended for tax accounting when making transactions with digital currencies. This was reported by the CoinDesk news agency. At least 1,082 clients became victims of the attacker. The hacker gained access to the resource base through the account of a support employee. This allowed him to steal clients' user data, including names, email addresses, part of cryptocurrency transaction revenue details and profile information in payment systems. CryptoTrader.tax confirmed the leak. However, according to co-founder David Kemmerer, user accounts have not been compromised.
After stealing the data, the hacker posted ads on the darknet forums for the sale of the stolen client base.

- Recall that the popularity of BTC in Hong Kong increased amid protests last year. And now, after the arrest on August 10 of the well-known critic of the Chinese government billionaire Jimmy Lai, his popular Hong Kong newspaper Apple Daily decided to vex the Chinese authorities by placing a bitcoin ad on the front page. Apple Daily, which is read by more than half a million people every day, has criticized traditional banks by proposing the mainstream cryptocurrency as an alternative. “Bitcoin will never leave you. Banks, it is not you who are leaving me today, it is me who is leaving you,” reads the text on the front page of the publication. And then the key advantages of cryptocurrency over traditional financial instruments are cited:
“Bitcoin is digital money. It is not issued or controlled by banks or corporations. No one can stop you from carrying out a transaction on the network, and it can't be turned off. Bitcoin is available to everyone regardless of nationality, gender, or belief. Bitcoin started with a genesis block during the 2009 financial crisis. Now is its time,” Apple Daily writes.

- The cybercriminals who created the ransomware Ryuk withdrew about $1 million of the ransom funds through the Binance bitcoin exchange. This is reported by Forbes with reference to cybersecurity specialists who wished to remain anonymous. In response to a request from the publication, security experts at Binance said that "fighting money laundering, ransomware and other malicious activities is their daily work." And they added that their arsenal has a lot of tools to detect suspicious activity. In total, according to the FBI, the victims of the ransomware transferred $61 million to the creators of Ryuk.

- The author of the legendary book “Rich Dad Poor Dad” entrepreneur and investor Robert Kiyosaki declared the inevitability of a new global banking crisis. Moreover, the coming shock will be more widespread than in previous financial crises. Investors need to accelerate the transition to "safe havens," Kiyosaki wrote on Twitter. He also stressed that the proof of the approaching crisis was the fact that such big financiers as Warren Buffett are already selling their assets related to the banking sector. “Probably, these people feel that the crisis is impending and will affect, first of all, the traditional financial system,” - said Kiyosaki. In his opinion, it is necessary now to transfer your capital into more reliable instruments, such as bitcoin, gold and silver.

- Trade in cryptocurrencies through mobile apps has grown by 81% compared to last August. According to the latest report from analyst firm Apptopia, cryptocurrency trading via mobile apps is becoming more and more popular: each new month surpasses the previous one in terms of the number of active users and new registrations. According to some experts, this is due to the COVID-19 coronavirus pandemic, as well as the rise in the cost of crypto assets.
Among the most popular mobile cryptocurrency trading apps are Coinbase, Blockchain Wallet, and Binance. According to Apptopia, Coinbase and Crypto.com mobile apps recorded a record number of active users per day on August 20 - 969,000 and 576,000, respectively. “July is the highest performing month for mobile cryptocurrency apps in the history of the market, but August has the potential to surpass it,” says the analyst firm's blog.

- Uber's former security chief, Joseph Sullivan, is accused of paying hackers $100,000 in BTC for concealing information about the theft of personal data. In 2016, hackers hacked into the database of Uber, an international company providing taxi search services, according to the U.S. Department of Justice. Attackers gained access to the data of 57 million users, as well as to the driver's license numbers of about 600,000 drivers.
Despite the anonymity of the hackers, Sullivan entered into a non-disclosure agreement with them, under which they were required to keep the hacking of the company's database secret and not to store the received data. Even after Uber employees identified the hackers, it is believed that Sullivan demanded that the attackers re-sign the agreement, providing their real names this time.
Law enforcement agencies became aware of the event only in November 2017, when the management of the company changed. The hackers have already been arrested. As for Sullivan, if found guilty, he could face up to five years in prison for obstructing the enforcement of the law and up to three years in prison for harbouring a crime.


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

Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Sun Aug 30, 2020 5:23 pm

Forex and Cryptocurrency Forecast for August 31 - September 04, 2020


First, a review of last week’s events:

– EUR/USD. 60% of analysts once again tried to give priority to the dollar last week, hoping that the EUR/USD pair will still break the support of 1.1700. In the opinion of the remaining 40%, it should have stayed within the side channel 1.1700-1.1910, which actually happened. Moreover, its finish took place near the upper border of this corridor.
The growth of the pair and the weakening of the dollar were blamed on the statement by the head of the US Federal Reserve Jerome Powell at a symposium in Jackson Hole which some analysts even called historical. The Fed decided to take the most serious step in monetary policy starting in 2012, announcing its plans to aim for an “average inflation rate of 2%.” This means that the regulator will not tighten its monetary policy even if the inflation rate exceeds these very two percent.
These changes suggest a softer monetary policy in the coming months and even years. And even more so, investors should not expect an increase in the interest rate on the dollar. As Jerome Powell noted, the country's economy, which is recovering from the recession, needs low rates.
As a result, the dollar went down, giving a signal to a sell-off of the US debt. There was a dumping of not only long-term, but also short-term government bonds. Together, this forms a kind of vicious circle, since the loss of interest in these securities can, in turn, put pressure on the dollar, which may lead to its further weakening against competing currencies.
The market's awareness of this situation led to the fact that on Thursday-Friday the EUR/USD pair rose to the upper boundary of the corridor 1.1700-1.1910, ending the week session at 1.1900;

– GBP/USD. The pound continues to climb to the 2019 high of 1.3515, and it got very close to this target last week, making a 280-point break and reaching 1.3350. The British currency is supported not only by the constantly weakening dollar, but also by the weakening British Prime Minister.
According to The Times newspaper, Boris Johnson is struggling with the consequences of the illness caused by COVID-19, and for this reason can resign at the end of the Brexit transition period, that is, by end of the year. Since Johnson will be interested in ending his prime minister career on a high positive note, the UK's parting with the EU could go smoothly, without losing its access to the European single market and customs union. And this, naturally, will further strengthen the pound;

– USD/JPY. The pair has been trading in the range of 105.10-107.00 for the last four weeks. However, its volatility has increased significantly in recent days. And the main reason for this is not the speech of the head of the Fed, Jerome Powell, but the news that Japanese Prime Minister Shinzo Abe intends to step down for health reasons.
That message allowed the yen to strengthen by 175 points. Why? The question is quite complex. As some analysts explain, Abe served as Prime Minister for the longest time since the end of World War II, and together with the head of the Bank of Japan, Haruhiko Kuroda, did everything to prevent the strengthening of the national currency by any means, including negative interest rates. Such a policy has been called “Abenomics”, although many believe it is more correct to refer to it as “Kurodanomics”.
Shinzo Abe is leaving now, and the era of "abenomics" may pass with him, which will entail a loosening of tight fiscal policies and a strengthening of the national currency.
In the meantime, as mentioned above, nothing super serious has happened, the yen has kept within the August corridor and completed the five-day period at 105.35;

– cryptocurrencies. Even though bitcoin, like about a year ago, was unable to gain a foothold above $ 12,000, the situation remains generally favourable for it. First, it is the soft monetary policy of the main regulators, the end of which is not yet expected. Secondly, we have seen a continuous growth in the number of companies and services that have started to accept cryptocurrencies as means of payment. The attitude towards digital assets and a number of central banks has become more loyal. Here, according to analysts, the COVID-19 pandemic played a large role, due to which a significant part of our life went online. It seems that even the FATF (Financial Action Task Force) has come to terms with the existence of the crypto industry.
Cryptocurrency trading through mobile apps is up 81% compared to August last year. According to the latest report from the analytical company Apptopia, this type of transactions each new month surpasses the previous one in terms of the number of active users and new registrations. The mobile apps Coinbase and Crypto.com recorded a record number of daily active users, 969,000 and 576,000, respectively, on August 20.
The number of large long-term investors continues to grow as well. So, according to Glassnode, there are currently 2,190 wallets with 1,000 or more BTC coins. All in all, these wallets store almost 8 million bitcoins for a total of more than $90 billion. And this is a very strong incentive for the future growth of BTC/USD.
In the meantime, bitcoin found a new Pivot Point last week - $11,500, along which it has been moving all this time. The BTC/USD pair was above this line for the first part of the seven-day period, then it went down to the support of $11,100. But soon it returned $400 higher. This happened largely thanks to the statement of the head of the Federal Reserve J. Powell at a symposium in Jackson Hole, which led to some weakening of the dollar and the growth of alternative assets, including gold and bitcoin.
The total cryptocurrency market capitalization decreased in seven days, but not by much - from $ 366 billion to $ 360 billion. The Crypto Fear & Greed Index came out of the last quarter, dropping from 81 points to 74. According to the developers of the indicator, this suggests that BTC being overbought is gradually fading away, so it can now be dangerous to open short positions.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

– EUR/USD. Speaking at Jackson Hole, Jerome Powell, in fact, clipped the dollar's wings. The head of the Fed has made it clear that the interest rate will remain at a record low even in case of increasing inflationary pressures. This is clearly a bearish signal for the US currency, which amplifies the likelihood of the euro and other major currencies rising against the dollar.
On the other hand, the Fed has no plans to lower the rate below zero, which is a moderate-positive factor for the USD rate. In addition, it should be borne in mind that other central banks can follow the path of the Fed, not reducing, but continuing and expanding the quantitative easing (QE) policy. So, for example, the ECB may take a position similar to the Fed. Already now, the head of the Bank of France, Francois Villeroy de Galhau, has spoken about a similar inflation target. Central banks of other countries of the Eurozone, in which the number of coronavirus cases is on the rise, can also join his voice. So the coming dollar drawdown is not as clear as it seems at first glance.
So far, if you look at the indicators, the situation is not in its favour. 85% of oscillators on H4 and D1 are painted green, 15% are in the overbought zone. Among the trend indicators, there are even more supporters of the EUR/USD pair growth: 100% on H4 and 95% on D1.
But the picture is radically different among experts. 60% of them believe that the pair will remain in the 1.1700-1.1910 price range. And since it finished the last week at its upper border, this means a trend reversal and a return of the pair to the level of 1.1700. The remaining 40% of analysts vote for the breakdown of the upper boundary of the channel, further weakening of the dollar and the rise of the pair first to the height of 1.1950, and then to the iconic level of 1.2000.
It also makes sense to pay attention to the graphical analysis readings. On the D1, its forecast for September is as follows: first a drop to 1.1700, then a jerk up to 1.2035, followed by side movement in the channel 1.1900-1.2035.
And a few words on the macroeconomic developments of the coming week. On Tuesday September 01, we will see data on the consumer market of the Eurozone, the US ISM business activity indices will be published on September 01 and 03, and on Friday September 04, we will traditionally learn about the state of the US labor market, including the number of new jobs created outside the agricultural sector (NFP);

– GBP/USD. It is clear that 100% of the trend indicators at the end of the past week are looking north. But as for the oscillators on H4 and D1, 25% are already giving signals that the pound is overbought. 55% of experts also support bearish sentiment. Moreover, when moving from weekly to monthly forecast, their number increases to 80%. Support zones are 1.3275, 1.3155 and 1.3050.
The GBP/USD pair closed the last trading session at 1.3350 - this is a fairly strong resistance level, which it had stormed unsuccessfully both in July 2018 and March 2019, so there are a lot of chances for a rebound from it and a downward correction. On the other hand, the desire of the bulls to renew the 2019 high at 1.3515 is also a strong stimulus that supports the losing dollar.
As in the case of EUR/USD, graphical analysis on D1 is of interest. According to its readings, the pair may reach a height of 1.3515 in the coming days, after which a rebound will follow, and it will first return to support 1.3275, and then drop to the level of 1.3050.
Certain adjustments to the dynamics of the pair can be made on Wednesday September 02 hearing of the Inflation Report prepared by the Bank of England and the speech of its head Andrew Bailey on Thursday September 03;
GBPUSD 31.08.jpg
– USD/JPY. The forecast for this pair is similar to that given above for the euro and pound. Most of the indicators point to a further weakening of the dollar, most experts, on the contrary, to its strengthening.
100% of trend indicators and 75% of oscillators are painted red. The remaining 25% of oscillators on both timeframes, H4 and D1, signal that the pair is oversold.
65% of analysts believe that the USD/JPY pair will not leave the 105.10-107.00 corridor limits, and only 35% consider the possibility of reducing it to the July 31 low of 104.18;

– cryptocurrencies. The crypto market capitalization is only $360bn now, which is about 25 -30% of the capitalization of Microsoft, Apple or Amazon. But cryptocurrencies are not one corporation, but a whole financial and technological industry that unites thousands of companies around the world. And this gives reason to say that the digital asset market is greatly underestimated.
A new report by the cryptocurrency fund Grayscale Investments states that the current structure of the BTC market is similar to that of early 2016 before the historic bullish growth began. Fund analysts predict that demand for bitcoin will rise significantly as inflation accelerates.
The growth of bitcoin due to the inevitability of a new global banking crisis was also announced by the author of the legendary book "Rich Dad Poor Dad", entrepreneur and investor Robert Kiyosaki. Moreover, the coming shock in his opinion will be more widespread than in previous financial crises. Investors need to accelerate the transition to "safe havens," Kiyosaki wrote on Twitter. He also stressed that the proof of the approaching crisis was the fact that such big financiers as Warren Buffett are already selling their assets related to the banking sector. “Probably, these people feel that the crisis is impending and will affect, first of all, the traditional financial system,” - said Kiyosaki. In his opinion, it is necessary now to transfer your capital into more reliable instruments, such as bitcoin, gold and silver.
Analysts currently call the coronavirus pandemic one of the main growth drivers for the BTC/USD pair. It is thanks to it that many investors turned their views to the main cryptocurrency and other digital coins. And then Jerome Powell said that the Fed is not going to tighten monetary policy, which in the long term can also lead to the growth of bitcoin.
Some experts in technical analysis also see the prospects for a breakdown of the $12,000 level and a rise of the pair to $40-45 thousand on the W1 and MN time frames. However, in the near future, 65% of analysts expect the BTC/USD pair to move along the $11,000 Pivot Point with one-off emissions up to $9,500 south and up to $12,800 north. Moreover, only 20% of experts believe that bitcoin will be able to at least touch the $14,000 mark in September.


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 #forex #cryptocurrencies #bitcoin #stock_market

Stan NordFX
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Nickel Bitcoiner
Posts: 198
Joined: Sat Apr 27, 2019 3:07 pm

Re: Nordfx broker: news, weekly Analytics

Mon Aug 31, 2020 5:56 pm

Number of Accounts Opened in NоrdFX Exceed 1.500.000


Since its foundation in 2008, NоrdFX brokerage company has become one of the recognized leaders in the international forex industry, as evidenced by the trust of clients from more than 190 countries. And this August, the number of trading accounts opened in the company has reached 1 million 500 thousand.
1 500 000.jpg
NоrdFX's leading positions are indicated not only by broker ratings published by specialized resources. The company is regularly included in the TOP-10 of many reputable analytical publications that assess the quality of financial services provided. It should be especially noted that among more than 50 of its professional awards there are victories, which directly testify to the trust of the trading community.

Among them:
- Most Reliable Broker 2016, 2017 (The Forex Awards and ShowFX World),
- Most Trusted Cryptocurrency Broker 2018 (Global Brands Awards),
- Traders' Choice World Best Broker (Masterforex-V Academy).

One cannot but recall the multiple victories in various nominations of the IAFT Awards - an award founded by the International Union of Forex Traders, which is more than 200,000 traders from various countries. So, in 2012, NоrdFX won the Best Broker for Trading with Advisors nomination, in 2017 it won the IAFT Awards as The Best Broker to Work with Cryptocurrencies, and in 2015, 2018 and 2019 it was recognized as the Best Broker in Asia.

Evaluating the work of NordFX, the company's clients note its reliability, excellent trading conditions for both beginners and experienced traders, a wide selection of financial instruments, high quality dealing, but most importantly, trust-based business relationships that exist between employees and partners of NordFX and its clients.


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Thu Sep 03, 2020 9:34 am

CryptoNews
r8RrabV.jpg
- Many experts are inclined to believe that bitcoin may roll back to values below $10,000 in the near future. Now the main coin is doing quite well, however, with a possible restoration of investor interest in fiat and, first of all, in the dollar, the situation risks changing quickly. It is also possible that fees on the Ethereum network, which recently negatively affected the value of the second largest coin, will begin to fall again, due to which ETH will regain its popularity.
“The main cryptocurrency could not hold on to values above 12 thousand dollars, while it clearly lacks support. Its fall will mark a new major drawdown. Most likely, miners who have only recently been able to recover from halving will suffer from it. In this case, we will again have to hope for the arrival of new investors who will stabilize the situation,” said Teddy Cleps, a well-known trader.
Analysts from the Crypterium financial company team do not rule out a drawdown of the main coin to the lowest values since the beginning of August either. And it can happen very soon. If bitcoin breaks the barrier of $10,000, the rollback can take months. As a rule, in early autumn, the main coin feels insecure, however, a drawdown gives a chance for a new large-scale rally to start closer to the New Year.

- Atupri Health Insurance, a large Swiss insurance company, has started accepting payments in bitcoin and Ethereum. More specifically, it will receive fiat money after exchanging digital assets through the Bitcoin Suisse crypto exchange. “Our company does not own bitcoins. The payment in Swiss francs will be calculated in real time. Thanks to Bitcoin Suisse, we are not exposed to financial risks,” explains Caroline Meli, head of marketing and sales at Atupri. “As digital pioneers in the healthcare sector, we anticipate social trends and offer insurance solutions with a long-term perspective. Among them are blockchain and cryptocurrencies," Meli said. For reference: 200 thousand customers use Atupri Health Insurance every year. The company's sales for 2019 amounted to almost $887 million.

- Authorities in the Malaysian state of Johor have detained miners suspected of a major power theft. This is reported by the local news portal The Star. Searches of two clandestine mining farms in the town of Iskandar Puteri were conducted by representatives of the Malaysian Energy Commission (ST), the Tenaga Nasional Berhad energy company and local officials. They found 148 pieces of mining equipment in two rooms. Its owners stole energy bypassing the electricity meters, as a result of which they paid $7-14 per month for it, while the real amount reached $20 thousand. The cumulative damage for the entire operation of the clandestine farms exceeded $600 thousand. According to the newspaper, the suspects face up to 10 years in prison.

- Self-proclaimed Satoshi Nakamoto, Australian computer scientist and businessman Craig Wright has already been marked by a number of lawsuits to protect his honour and dignity against members of the bitcoin community. The list includes the co-founder of Ethereum Vitalik Buterin, the CEO of the Blockstream blockchain technology company Adam Back, the host of the podcast What Bitcoin Did Peter McCormack, and the popular Twitter bitcoin investor Hodlonaut. And now, as CoingEek reports, Craig Wright's lawyers have filed a lawsuit in the Antigua and Barbuda High Court in a defamation case against the founder of Bitcoin.com cryptocurrency company Roger Ver. The occasion was a YouTube video in which Ver called Wright a “liar and a con man” for claiming to create Bitcoin. It should be noted that Ver subsequently removed the video, but Wright, apparently, did not find it enough.

- Hackers stole 1.4 thousand bitcoins (about 16.3 million dollars) from an investor who held the coins in his wallet since 2017. The victim told the GitHub portal that he kept the cryptocurrency on Electrum wallet, which he had not visited since the purchase. To transfer funds, he installed an old version of the application, but was unable to complete the transaction. In a pop-up window, he was asked for security reasons to update the wallet to the latest version. As a result, after such a "update" all of its assets were moved to the address of the attackers.

- The consequences of the activities of the US Federal Reserve System were so serious that even the leaders of such payment giants as Visa started talking about Bitcoin. On August 28, after the announcement of the head of the Fed, Jerome Powell, about the plans of his department, the DXY dollar index fell to a critically low level of 92.28. In response, Visa's Public Policy Director Andy Yee tweeted: “Jerome Powell's speech today will go down in history books. This is the first time I've seen such a small group steal so much from so many people. Save yourself with bitcoin."

- Commissioned by P2P platform Paxful, cryptocurrency website Cripto 247 conducted an online survey of 1,113 Argentines from 18 to 55 years old. According to its results, 74% of respondents believe that given the current economic and political situation, crypto assets are the best option to protect savings. At the same time, 68% of respondents note that investments in cryptocurrency are “quite safe”.

- Renowned bitcoin critic and gold advocate, President of brokerage company Euro Pacific Capital Peter Schiff is not against cryptocurrency if it is presented as a gift to his son. “Since you guys are making fun of me about my son buying bitcoin, why don't you remind me of this by giving him some more coins for his birthday. He turned 18 yesterday," the golden beetle said. His call seems to have resonated: at the time of publication, 0.106 BTC, or about $1,200 at current exchange rates, had been sent to the gift address.
Like his father, eighteen-year-old Spencer Schiff likes to speculate on financial topics on Twitter. By his own admission, he invested $450 in bitcoin a few weeks ago, but the cryptocurrency is still only a small part of his portfolio. “I have much more money in shares of gold mining companies, although I am thinking about investing in bitcoin,” the young Spencer told readers.

- The volume of bitcoins held in miners' wallets has reached 1.82 million BTC, which is the highest value in the last two years. Ex-director of leading mining pool F2Pool Thomas Heller believes that the reluctance of miners to sell bitcoins is a positive signal for the price of the coin. In a comment to news agency CoinDesk, he noted that they are now biding their time for better selling levels.
However, there are other versions as well. For example, the vice-president of the GRIID mining company Harry Sudock admitted that the decrease in sales rates is due to the transition of miners to new equipment. According to him, this period takes about six months, during which time miners sell cryptocurrency only to cover running costs.


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

Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Sun Sep 06, 2020 4:25 pm

Forex and Cryptocurrency Forecast for September 07 - 11, 2020


First, a review of last week’s events:

- EUR/USD. The statement of the head of the US Federal Reserve Jerome Powell at the symposium in Jackson Hole is still the most discussed among investors and experts. The Fed decided to take the most serious step in monetary policy starting in 2012, announcing its plans to aim for an “average inflation rate of 2%.” This means that the regulator will not tighten its monetary policy even if the inflation rate exceeds these very two percent.
With his speech, Powell dealt another blow to the dollar, which has surrendered one position after another since March 20. The printing press launched by the Federal Reserve during the pandemic and the decrease in interest rates led to the fact that, starting from 1.0635, the pair EUR/USD rose above 1.2000 last week. During this period, the euro appreciated against the US currency by 13%, which is bad enough for the European economy.
Back in 2015-16, the then head of the ECB Mario Draghi introduced a policy of negative interest rates. This made it possible to lower the quotes of the single European currency to 1.0500, that is, almost to parity with the dollar. The weak euro contributed to higher inflation and economic growth in the EU, bolstered the eurozone's export potential, making its goods cheaper for the overseas consumer. However, in 2018, the euro went up again, rising to about 1.2000. Then, with great difficulty, it was lowered down again. And now we see 1.2000 again.
It is clear that in order to reverse the trend southward, the European regulator will have to resort to a very aggressive monetary policy. The importance of the exchange rate for the health of the Eurozone was announced this week by ECB Chief Economist Philip Lane. His remark allowed the dollar to strengthen a bit. However, we can expect the main events next week on Thursday, September 10, when the next meeting of the European Central Bank will take place. More on this in the second part of this article.
And now about the forecast given by experts for the past week. 60% of them felt that the pair EUR/USD would hold in the price range of 1.1700-1.1910. The remaining 40% voted for the breakdown of the upper border of the channel and the growth of the pair to the symbolic level of 1.2000. If you look at the chart, it becomes clear that both of them were right: the pair really reached the 1.2000 height. However, it could not gain a foothold there and quickly dropped to the 1.1780 horizon. The last chord of the five-day period was set at 1.1840. That is, the pair has been in a smoothly ascending channel with a width of about 200 points for the fifth week already, which allows us to say that the final trend reversal in favor of the dollar has not yet occurred;

- GBP/USD. In general, the weekly chart of this pair follows the EUR/USD chart. The difference is that if the European currency eventually returned to the central part of the ascending medium-term channel, the pound did not do this, and ended the week near its upper border - at around 1.3275. However, the bulls did not manage to update the 2019 high of 1.3515. Their upward spurt was stopped at 1.3482;

- USD/JPY. Markets are still ruled by risk sentiment rather than macroeconomic indicators. Many investors expected that the publication of data on the US labor market on Friday, September 04, could affect the dynamics of the USD/JPY pair, however, nothing extraordinary happened: first, a slight increase by 30 points, and then a return to its original positions.
The forecast given by the majority of analysts (65%) spoke of the strengthening of the dollar and that the pair would not leave the corridor of 105.10-107.00. This is exactly what happened. Starting from Monday, the dollar rushed upward, reaching a height of 106.55 on Thursday and showing an increase of 120 points. As for the end of the trading session, the pair completed it at the level of 106.22;

- cryptocurrencies. One of the richest people on the planet, Warren Buffett, has invested $6 billion dollars in shares of Japanese companies. Commenting on this move, renowned crypto enthusiast and TV presenter Max Kaiser said that Buffett is fleeing the dollar in this way, the depreciation of which will lead to a sharp rise in quotations of alternative assets such as gold and bitcoin.
Perhaps there is some logic in Kaiser's statement, however, gold, on the contrary, has fallen in price by 7%, and Bitcoin has not been able to overcome the $ 12,000 milestone over the past month, starting from August 7.
Our analysts predicted that the BTC/USD pair would move along Pivot Point $11,000 with one-off emissions up to $9,500 south and up to $12,800 north. It is this scenario that starts to come true. At the beginning of the week, the bulls went on another assault, but could hardly get to the height of $12,050. Miners, who, in anticipation of further growth, kept a record amount of cryptocurrency in their wallets, worth more than $ 20 billion (1.82 million BTC), began to sell it. The outflow of bitcoins from their wallets, according to CryptoQuant, amounted to over 1,500 BTC during the day from Wednesday to Thursday. Of course, this is not so much, but, as it turned out, it is quite enough for the bears to completely take over the market. As a result, the main cryptocurrency lost almost 17% in price, reaching $ 10,000, on Friday September 04. The dollar, growing contrary to Max Kaiser's forecasts, affected the collapse as well.
The total capitalization of the cryptocurrency market decreased from $ 360 billion to $ 334 billion in seven days. Moreover, it reached $ 393 billion at its peak on August 2, that is, the drop was 15% in just two days. The Bitcoin Fear & Greed Index dropped from 74 points to 40, and just like the RSI, it came out of the overbought zone.
The dominance of the main cryptocurrency in the market continues to decrease. If at the beginning of the year its capitalization was about 70%, now it has dropped to 58%. But the share of ethereum, on the contrary, is constantly growing, rising from 7.29% to 12.90%. ETH miners earned a record $17 million on September 01 due to the high demand for the blockchain of this project. Recall that the creator of ethereum, Vitalik Buterin, announced his blockchain as the basis for the operation of other cryptoservices this year, which aroused increased interest in this altcoin. However, returning to the events of the end of the last week, it should be noted that if the pair BTC/USD lost “only” 17%, the fall of ETH/USD at its peak exceeded 27%.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. As noted above, the ECB will need to start almost a war with the Fed in the area of monetary and fiscal policy in order to turn the pair down. Its outcome will depend on how far the EU and the US are prepared to go in their combat operations.
The forthcoming meeting of the ECB on Thursday, September 10, and the subsequent press conference of its head Christine Lagarde may give the market an idea of what potential the European regulator is ready to use in this war. Analysts at Bloomberg believe that the ECB could increase the program of emergency asset purchases by €350 billion by the end of 2020, and the volumes of other programs - by another €220 billion. Such expansion of European quantitative easing (QE), according to experts, is unlikely to benefit the banking system of the Old World (full of unclaimed money as is), but will be able to weaken the euro. The lower the cost of interbank borrowing goes, the greater the pressure on the common European currency will be.
However, it is not at all certain that the victory in this currency war will be on the side of Europe. According to a number of Reuters analysts, if the Fed continues to keep the interest rate close to zero, and the recovery of the Eurozone economy outstrips the recovery of the US economy, the EUR/USD rate may well rise to 1.2100.
In the meantime, the balance of power in the discussion of experts is the following: 50% of them expect that the pair will still be able to break through the support in the 1.1700 zone and go down at least another 100 points below. Another 30% of analysts believe it will move in the 1.1700-1.2010 trading range. And finally, the remaining 20%, supported by graphical analysis on D1, hope to see the pair storm the 1.2100 high by mid-September;
EURUSD 07.09.jpg
- GBP/USD. Just like the neighbors to the west and east - the US and the EU - one of the determining factors for the UK economy is overcoming the consequences of the COVID-19 crisis, and the measures that are being taken for this. The new Chancellor of the Exchequer, Rishi Sunak, who took office only this year, plans to roll back a series of stimulus measures as early as September, such as subsidies to restaurants. However, most likely, it will not have any strong influence on the British currency quotes. Moreover, the government intends to stick to plans for other QE programs for now.
The curtailment of the program for retaining employees on unpaid leave on October 31 may be much more significant for the market. Another important event is the EU Brexit Summit. But it will also take place only in mid-October, and a lot can change until then.
The majority of experts (60%) believe that the pound is already exhausted in its drive to the north, and the pair is waiting for a turn to the south. And, when moving from weekly to monthly forecast, the number of supporters of bears increases to 70%. The closest strong support is in the 1.3000 zone.
There is a red-gray-green multicolor among the technical indicators on H4, as in the case of EUR/USD. However, there is a noticeable advantage of the “green” ones on D1: there are 55% of those among oscillators and 80% among trend indicators.
As for the graphical analysis, it shows first the lateral movement of the pair in the corridor 1.3065-1.3385, then its drop to the zone 1.2900 and return to the level 1.3275. All of this can happen within the next 14 days. Further targets for the pair are 1.3480 and the 2019 high of 1.3515;

- USD/JPY. If you look at the chart, you can see that, starting from the last ten days of February, the pair has been gradually consolidating around 106.00. Experts do not see any serious reasons for its going beyond the trading range of 105.10-107.00 at the moment. However, when switching to the monthly forecast, 65% of analysts are inclined to favor the bears. And if their prediction turns out to be correct, the pair could drop to the July 31 low of 104.18. In case of breakdown of the upper border of the channel, the nearest resistance will be the level of 107.50, the next one - 108.15;

- cryptocurrencies. The consequences of the activities of the US Federal Reserve System were so serious that even the leaders of such payment giants as Visa started talking about Bitcoin. At the end of August, after the statement of the head of the Fed, Jerome Powell, about the plans of his department, the DXY dollar index fell to a critically low level of 92.14. In response, Visa's Public Policy Director Andy Yee tweeted: “Jerome Powell's speech today will go down in history books. This is the first time I've seen such a small group steal so much from so many people. Save yourself with bitcoin."
However, it looks like the market is not yet ready to follow Mr. Yee's call. Most experts (60%) are inclined to believe that bitcoin may roll back to values below $10,000 in the near future. And, first of all, this will be associated with the restoration of investor interest in the dollar.
If bitcoin breaks through the $10,000 barrier, the pullback could drag on for months, according to analysts at financial company Crypterium. As a rule, the main coin feels uncertain in early autumn, but the drawdown gives a chance to start a new large-scale rally closer to the New Year.
The main forecast for the next week remains almost the same, with amendments of 500 points downwards: the BTC/USD pair will move along Pivot Point $10,500 with one-off emissions up to $9,000 south and up to $12,300 north.


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.

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Re: Nordfx broker: news, weekly Analytics

Tue Sep 08, 2020 11:13 pm

Thanks for the updates, Nordfx

Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Thu Sep 10, 2020 5:00 am

CryptoNews
CryptoNews 09.09.2020.jpg
- The head of investment companies 10T Holdings and Gold Bullion International Dan Tapiero said that Bitcoin and gold can safely survive the next collapse of the stock market.
“I think that in the near future, as it often happened, the situation will turn around, which will lead to critical consequences for the stock market,” the expert said. "In the short term, the rise in the S&P 500 may seem like a positive signal, but I do not think the stock markets will resist the pressure from outside."
Tapiero also stressed that before the US presidential elections, the situation is changing in almost all financial sectors. If Donald Trump is unable to stay for a second term, the companies under his control will lose share value. And this will affect the quotes of the largest indices. “The market for such investments will not die, but it will be more difficult to get investors there,” he explained.
As for the possible appearance of negative interest rates in the US, according to Tapiero, they will make the dollar much weaker and become a "mega-bull" incentive for bitcoin.

- The Just Eat network, 15,000 food delivery outlets across France, started accepting bitcoins. The corresponding option appeared in the payment options for the order. Just Eat does not charge fees for payments in cryptocurrency but has warned customers that for this form of payment, you need to create a digital wallet by downloading "special software or application." The payment provider is BitPay, a cryptocurrency processing service.
It was reported earlier that more than 25,000 French retailers plan to accept the main cryptocurrency for payment.

- One of the three largest banks in Chile - BancoEstado was forced to shut down its branches after a ransomware attack. “Our branches are closed today and will not work in the coming days,” the bank announced on Twitter on September 7th. At the same time, the bank's management assured the clients that their funds were safe. According to a source close to the investigation, the ransomware REvil (Sodinokibi) infiltrated the internal network of this financial institution after one of the employees opened an infected document in the Office program. The presence of the virus was detected on Saturday, September 05, when bank employees were unable to access their work files. BancoEstado estimates the damage from the attack as significant - the ransomware affected most of the internal servers and work computers of employees. The bank's website, banking portal, mobile applications and ATMs remained intact.
Recall that earlier the developers of the Sodinokibi virus refused to receive the ransom in bitcoins, preferring the Monero cryptocurrency due to its increased anonymity.

- Еhe BTC rate has significantly decreased over the past week and dropped below $10,000 several times. However, this did not stop the number of transactions and hashrate from setting new highs. According to the analytical platform Glassnode, on September 8, the Bitcoin hash rate was 156 Eh/s - this is a new all-time high. The previous hashrate record was recorded on 11 May, before the third halving. Then it reached 152 Eh/s, but soon dropped to 90 Eh/s. In addition, there was a noticeable increase in the average daily transaction volume, which reached 130,110 BTC, setting an annual high.
In July, Chainalysis reported that miners had significantly reduced sales of mined BTC. Perhaps the current decline in the rate of this cryptocurrency is due to the fact that miners put on sale the previously mined coins in order to fix profits or cover the need for fiat.

- The son of the president of brokerage company Euro Pacific Capital, Peter Schiff, Spencer, continues to buy bitcoins, contrary to his father's opinion. Recall that the gold fan Peter Schiff is in the camp of ardent opponents of the largest digital currency. He periodically posts on Twitter criticizing BTC, calling it a pyramid scheme. On the other hand, Schiff Jr. is actively buying up bitcoins. His father commented on his son's behaviour: “Against my advice, he just bought even more bitcoins.” "Whose advice are you going to follow: a 57-year-old seasoned investor and business owner who has been investing professionally for over 30 years, or an 18-year-old college freshman who doesn't even have a job?" Peter Schiff asks his readers.

- The creator of the popular stock-to-flow ratio (S2F) model, analyst PlanB predicts that Bitcoin will not only reach $288,000 but will also show a further threefold growth. This will result in it costing about $864,000 by the end of 2024. Notably, PlanB is insanely optimistic about his model, believing that the price of BTC is still moving in line with his forecasts. Understanding the reaction of crypto community participants, he added that all this is possible since bitcoin has done something similar in previous stages.

- Employees of the Blockchain Research Lab released an article in which they talked about an increasingly popular method of money laundering through cryptocurrency. The mechanism was called “exclusive mining”. According to the researchers, attackers are asking miners to confirm transactions made through private channels in exchange for a reward. Such a transaction remains unaccounted for by many analytical systems, as it looks like a reward from mining cryptocurrency. “Disguising money transfers as transaction costs allows to evade taxes or launder money,” the authors of the article say, “and it is very difficult to detect cases of such “exclusive mining” and to prove criminal intent.”

- The new parameter of estimating investor sentiment presented by the analytical resource CryptoQuant indicates that bitcoin is “experiencing strong demand from buyers” at $10,000.
In early September, CryptoQuant founder Ki Young Ju introduced a new tool to track BTC investor sentiment, which he called Potential BUY/SELL Pressure. Its principle of operation is to calculate the ratio of exchange-traded deposits of bitcoin to deposits of stablecoins. The estimation is based on the hypothesis that the resulting number is inversely proportional to the appetites of traders. This parameter is currently biased towards the bullish side. “Bitcoin is still under strong pressure from buyers. Exchanges are holding more stablecoins and fewer bitcoins than at the beginning of this year,” wrote Ki Yang Joo, and summed up: “ I think a bullish trend in bitcoin is still possible. ”

- According to the information of the analytical platform Santiment, in three days after the Ethereum price collapse by 30%, 68 new "whales" appeared, which hold from 1,000 to 10,000 ETH ($350,000 - $3,500,000) and added millions of dollars to the coin's capitalization. Ethereum still remains the second largest cryptocurrency (12.9% of the market) and number 1 among altcoins by market capitalization — about $40 billion.


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

Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Mon Sep 14, 2020 10:36 am

Forex and Cryptocurrency Forecast for September 14 - 18, 2020


First, a review of last week’s events:

- EUR/USD. Following the ECB meeting on September 11, the Euro tried to fly up and even reached 1.1920, but literally an hour later the market decided that all this was not so important, and the quotes of the EUR/USD pair quickly returned to their original positions. As a result, as one third of the experts expected, the pair could not break out of the 1.1700-1.2010 channel, along which it has been moving for seven weeks. Moreover, its trading range narrowed to 1.1750-1.1920, returning to the values of the last decade of August.
So, what actually happened?
On the one hand, the tone of the European regulator's statement turned out to be even more hawkish than investors had expected. The ECB has taken a very optimistic position on the prospects for the eurozone economy. During a press conference, its head, Christine Lagarde, said that macro statistics indicate a rapid recovery in domestic demand and activity in the manufacturing sector. However, she urged not to overreact to the growth of the euro over the past five months. According to her, the regulator focuses not on the exchange rate of the European currency itself but monitors its impact on inflation.
After such statements, the rate went up and even rose above the 1.1900 horizon. However, investors were quick to remember the sharp reversal of the US stock market, the dollar strengthening against this background and the day by day increasing probability of a "hard" Brexit , from which the economy of not only the UK, but also the EU could suffer seriously. As a result, a sharp reversal followed, quotes fell down, and the pair ended the week in the same place where it began, at 1.1840;

- GBP/USD. The beneficiaries this week were traders who opened short positions on this pair. As expected by most analysts, the pound continued its decline, losing 480 points over the week and ending the five-day period at 1.2797.
The reason for the massive sale of the pound was the latest move of the British Prime Minister Boris Johnson, who introduced a bill on the internal market to Parliament. If approved, this document could derail the already agreed agreements on the country's withdrawal from the EU. In response to this move, Brussels issued an ultimatum to the British side demanding that the plans to revise the Agreement be abandoned by the end of September. But London is standing its ground, and there is no way out of this stalemate, which makes the scenario of a "hard" Brexit quite likely.
The United States also joined the skirmish. Speaker of the House of Representatives of Congress Nancy Pelosi said that America would not support a trade deal with Britain if it violated the EU Withdrawal Agreement.
Added to all this is the slow pace of the British economy's recovery and the not-so-encouraging situation with the coronavirus pandemic. The combination of all these factors puts a lot of pressure on the pound, not booming anything good for it in the near future;

- USD/JPY. Since the last ten days of February this year, the pair has been gradually consolidating around 106.00. And, as the experts expected, it was never able to leave the channel 105.10-107.00. Against the backdrop of falling stock markets, both currencies of this pair continued to act in tandem as protective assets, which ensured their synchronization and further narrowing of the trading range to 60 points within 105.80-106.40. The final chord of the five-day was set at 196.10;

- cryptocurrencies. After another unsuccessful attempt to gain a foothold above $12,000 and the subsequent collapse on September 02-04, Bitcoin rested on the psychologically important support in the $10,000 zone. The BTC/USD pair has been trading in an extremely narrow range of $10,000-10,350 over the past week. Both bears and bulls ran out of strength: the former have already fixed short-term profits, and the latter have already opened long positions with a 20% discount from the levels of the end of August. Of course, both sides made weak attempts to turn things around in their favour, increasing volatility to $9,850-10,500, however they all ended in nothing. On Friday evening, September 11, when this review was written, the main cryptocurrency was trading in the $10,300 zone. Of course, one can expect sharp price increases on weekends, especially on the night from Sunday to Monday. However, as practice shows, such trends are only short-term.
It should be noted that the movement of bitcoin in a very narrow channel did not prevent the number of transactions and hash rate from setting new highs. According to the analytical platform Glassnode, on September 8, the Bitcoin hash rate was 156 Eh/s - this is a new all-time high. The previous hashrate record was recorded on 11 May, before the third halving. It reached 152 EH/s then, but it fell soon to 90 EH/s.
The number of monthly transactions exceeded 600 thousand. In addition, there was also a marked increase in average daily transaction volume, which reached 130.110 BTC, setting an annual high. According to Chainalysis, small and medium-sized transfers, up to $10,000 in size, have grown to more than $300 million.
The Crypto Fear & Greed Index has remained largely unchanged and is now at 41 points (40 weeks ago). The total capitalization of the crypto market remains at about the same level, $334 billion.
Recall that at the minimum of this year, March 16, it amounted to only $ 134 billion. That is, over the last 6 months, the increase has been 150%. At the same time, bitcoin continues to lose ground. Its dominance index has fallen from 63.75% to 57.45% over the same period. Ethereum, on the other hand, is doing much better, showing a rise from 10.40% to 12.04%.
Note that high transaction fees make this leading altcoin virtually inaccessible to smaller retail players. But it attracts a lot of attention from the "whales". So, according to the information of the analytical platform Santiment, only three days after the collapse of the price of ethereum by 30% there were 68 new large investors holding from 1000 to 10000 ETH ($350,000 - $3,500,000) and added millions of dollars to the coin's capitalization. Thus, ethereum still remains the second largest cryptocurrency and number 1 among altcoins by market capitalization, about $40 billion.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. Let us start with the fact that neither trend indicators nor oscillators can give any intelligible signals after seven weeks of sideways movement in the 1.1700-1.2010 channel and the finish in its center at 1.1840. The experts' votes are also equally divided. And even graphic analysis draws the fluctuations of the pair in this range until the end of September. However, judging by the chart, the bears should gain the upper hand finally, and the beginning of October will be marked by a strengthening dollar and a decline in EUR/USD quotes to 1.1600.
Due to the fall in demand for risky assets and fears of a "hard" Brexit, many analysts expect that the Euro will strengthen its position against the British pound, retreat against the Japanese yen and will fight the dollar with varying success, without stable trends.
Contrary to Christine Lagarde's statements, Reuters sources claim that the ECB is not at all indifferent to the exchange rate, although the bank does not want to start a war with the US Federal Reserve because of it. In their opinion, the rate of 1.2000 is close to equilibrium and suits both sides at the moment. At the same time, Citigroup analysts believe that if the EUR/USD quotes grow by another 5%, the ECB will nevertheless begin to take steps to weaken the euro. Moreover, according to Reuters, the southern countries of the Eurozone are already quite nervous about the strengthening of their currency.
In the meantime, leading indicators from Bloomberg indicate further growth in EUR/USD. The reason lies in the faster recovery of the Old-World economy compared to the United States. It goes fastest in Germany and Norway, followed by France, Italy, and Spain. But the United States and Great Britain are among the outsiders.
Certain adjustments to the expectations of experts may be made by the meeting of the US Fed and the subsequent press conference of its management on Wednesday 16 September. And there is a very small likelihood that the regulator will reduce the current interest rate by 0.25%. But if this suddenly happens, the balance of power and the market situation will change in the most radical way;

- GBP/USD. The reasons why the pound can continue its flight south were described in the first part of our review. The British currency will be able to stop the fall, turn around and start moving upwards if any warming is outlined in the current tense relations between London and Brussels. The situation is actually very serious, as the future of the UK depends on it. And the EU economy, in the case of a "hard" Brexit, will also receive a tangible blow.
At the moment, most experts (60%) expect the pair to fall further. They are supported by 100% of trend indicators on H4 and 80% on D1, as well as 85% of oscillators on both time frames. As for 40% of the bulls' supporters, graphical analysis on D1, the remaining trend indicators and 15% of oscillators that give signals that the pair is oversold, side with them. This may indicate, if not a trend reversal, at least an upcoming correction.
It should be noted that with the transition from weekly to monthly forecasts, the number of analysts who vote for the pair's reversal to the north increases from 40% to 70% (hopes for a resolution of the conflict with the EU affect).
Support levels are 1.2650, 1.2465 and 1.2250, resistance is 1.3000, 1.3050, 1.3185, 1.3265. The target is the September 01 high,1.3480.
As for the important economic events, and they will fill almost the entire next week, Monday, September 14 should be noted, when Parliament will vote on the Brexit terms and hear the inflation report. UK labour market data will appear on Tuesday September 15, followed by the consumer market data on September 16. Increased volatility should be expected on Thursday, September 17, as the Bank of England meeting will be held on this day, at which issues on the interest rate and the volume of asset purchases under the QE program will be resolved;

- USD/JPY. Also, on September 17, a meeting of the Bank of Japan will take place, which with a high degree of probability will leave the interest rate unchanged. In terms of the speed of recovery from the COVID-19 pandemic, Japan is among the leaders. So, there is no need for the regulator to make sharp movements, and, most likely, this event will pass without surprises and will not have any impact on the market.
It is impossible to predict any movement of the pair based on technical analysis. With the narrowing of the maximum weekly volatility to 60 points and the ongoing consolidation of the pair around 106.00, no recommendations can be expected from the indicators.
But the majority of experts (60%) expect the Japanese currency to strengthen and the pair to drop to the level of 105.10, and then, possibly, 100 points lower. The remaining 40% are looking at 107.00. However, everything that will happen to the USD/JPY pair in the near future, including the direction of trends and volatility, depends not so much on the yen as on the dollar and on what happens at a distance of 11.000 km from Tokyo - in New York and Washington;
USDJPY 14.09.2020.jpg
- cryptocurrencies. As for the “best” forecasts last week, the first place is undoubtedly taken by the creator of the popular stock to flow ratio model (S2F) under the nickname PlanB. According to his calculations, bitcoin will not only reach $288 thousand, but will also show a further threefold growth. This will lead, the analyst says, to the fact that 1 BTC will be worth about $ 864,000 by the end of 2024. Understanding the reaction of crypto community participants to such astronomical numbers, PlanB adds that all this is possible, as bitcoin has already done something similar in previous stages.
If you rewind the time machine and travel back from 2024 to November 2020, you can see a serious blow to the stock market that the US presidential election can inflict. This is exactly what the head of investment companies 10T Holdings and Gold Bullion International Dan Tapiero thinks. “If Donald Trump can't stay on for a second term,” he explains his point, “the companies under his control will lose stock value. And this will affect the quotes of the largest indices. As for gold and bitcoin, they will be able to calmly weather the stock market crash. And if at that moment the US Federal Reserve lowers interest rates to negative values, the dollar will weaken sharply and this, according to Dan Tapiero, will become a "mega-bull" incentive for bitcoin.
And now about the forecast for the second half of September. The new indicator of BTC investor sentiment, presented by the analytical resource CryptoQuant, shows that bitcoin “is experiencing strong demand from buyers» at $10,000. This tool is called “Potential BUY/SELL Pressure”. Its principle of operation is to calculate the ratio of exchange-traded deposits of bitcoin to deposits of stablecoins, and it is based on the hypothesis that the resulting number is inversely proportional to the appetites of traders.
This parameter is currently biased towards the bullish side. Exchanges are holding more stablecoins and fewer bitcoins than at the beginning of this year,” wrote Ki Yang Joo, and summed up: “I think a bullish trend in bitcoin is still possible.”
60% of experts agree with the possibility of a moderate growth of the BTC/USD pair to the $10,700-11,200 zone. The remaining 40% see it in the range of $ 9,500-10,350 in the near future.


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.

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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Thu Sep 17, 2020 8:52 am

CryptoNews
1Iq2WF4.jpg
- Bitcoin transactions grew by over 75% in August, according to The Block news agency. This fact may indicate a return to the industry of small miners who dropped out due to halving in May. Now they have the opportunity to start earning again thanks to the growth in the value of the main coin. Their revenues, compared to July, increased by 23% in August, while the revenues of Ethereum miners increased by 98% over the month, The Block notes.
Not only the number of transactions, but their volume has increased markedly. "According to more or less reliable data, the volume of transactions amounted to more than $191 billion. In July, the same figure was at the level of $85 billion. Some exchanges could not cope with the growth of traffic for several days, which is why they were temporarily shut down for technical work," The Block said in a statement.
The dominant market share remains with the Binance trading platform. It accounts for approximately 65 percent of the total cryptocurrency trading volume. It is followed by Coinbase, which has about 10 percent. Kraken and LMAX Digital have 4.8 percent, respectively. The lowest increase in activity was demonstrated by the Bitstamp platform, which now accounts for about 2.8 percent of transactions.

- DBS Bank specialists from Singapore are confident that the COVID-19 pandemic has accelerated the adoption of cryptocurrencies by the financial community. The bank's quarterly report shows an increase in the number of institutional investors in digital assets. According to the chief economist of DBS Bank Taimur Baig, the demand for this type of assets can already be clearly divided into two separate phases - before and after the pandemic. Now cryptocurrencies have started to be used as an asset-shelter, because people are concerned about the state of the dollar, and the question is whether to keep their funds in the fiat, Baig commented on the report of the bank.

- Aviatrade, an aircraft sales company, offered gulfstream G650ER customers the opportunity to pay in cryptocurrency. According to Aviatrade, the rapid adoption of cryptocurrencies is evident, especially in developing countries with high inflation. As a result, more and more wealthy people are turning to decentralized banking in order to hedge financial risks and to make high-value purchases. And now bitcoin millionaires can purchase a super-fast private jet with cryptocurrency.
The G650ER aircraft was created six years ago by the American company Gulfstream. Its flight range is 7,500 nautical miles, which facilitates frequent intercontinental flights. In May 2020, the G650ER was voted the best private jet for international flights after the Global 6000 and Boeing VIP Dreamliner. About 400 liners have been sold so far, and Jeff Bezos and Elon Musk are among the buyers.

- The board of directors of analytics software provider MicroStrategy, which previously invested $250 million in bitcoin, has adopted a new asset management policy. The published document confirms the company's readiness to further increase its investments in the first cryptocurrency, using it as the main reserve asset on an ongoing basis. Thus, CEO of MicroStrategy Michael Sailor called the investment in bitcoin a reliable alternative to the devalued US dollar and said that on September 14, the company additionally acquired 16,796 BTC for $175 million, bringing the total volume of this asset to $425 million.
MicroStrategy thus became the first public company listed on Nasdaq to invest some of the capital in cryptocurrency.

- According to Dan Tapiero, co-founder of the investment company DTAP Capital, the market has developed conditions for long-term strengthening of bitcoin. There are several macroeconomic factors that will drive increased demand for cryptocurrency. The main culprit is the US Fed, which is pouring money into the economy, thereby devaluing it.
“We are on the verge of economic turmoil; the situation will be similar to the crisis of the late 1980s. The value of American assets will fall by about half, which will cause a massive transition of capital from state securities to gold and bitcoin,” Tapiero said, stressing that during the last two and a half years we have seen consolidation of BTC and that now, most likely, we are waiting for an explosive growth in the value of the largest cryptocurrency. Investors just need to be patient.

- The Nigeria Securities and Exchange Commission ruled that all crypto assets will now be treated as securities. According to the regulator, cryptocurrencies are alternative investment opportunities that fall under the same requirements as stock exchanges and their transactions. Curiously, if an issuer wants to avoid such classification of their instruments, they must file a relevant request and prove that their crypto asset is not a security and therefore does not fall under the jurisdiction of the department. However, the Commission's notification did not explain how the evidence process would look in practice.

- Former hedge fund manager and host of CNBC's “Mad Money” show Jim Cramer, previously sceptical of Bitcoin, has now called it a good choice for investment. Previously, Kramer preferred investments in gold, stocks, and other assets, and considered bitcoin an "incomprehensible" asset, the rate of which could quickly collapse to zero. However, as the US government was issuing huge amounts of money to ease the economic crisis, he changed his mind.
During a conversation with renowned bitcoin enthusiast Anthony Pompliano, Kramer stated that if he does not invest in the first cryptocurrency, his children simply will not understand this step in the future. "These $3 trillion that the U.S. has printed have completely changed my mind," he said. "We will not be able to buy back our national debt. We just cannot. So, what can you do? Either move to another country, or hedge. I plan to buy bitcoin in stages and invest for at least 10 years. That is, my children won't be able to sell these coins until 2030.”

- Cryptanalyst firm Weiss Crypto Ratings decided to reassure bitcoin users who fear the downtrend that took over the market in the early days of September. According to their experts, the bearish trend will quickly subside, and in general it is not strong enough to drive the coin value below the support of $10,000 in the near future. As for Ethereum, Weiss Crypto Ratings considers the level of $ 350 to be a powerful support for this altcoin.

- According to CoinDesk, users of the Deribit crypto derivatives exchange are actively betting on bitcoin options, hoping that the price will rise to $32-36 thousand by the end of the year. These options were the most popular on this platform last Sunday. According to the company, new December contracts with a settlement price of $36,000 are in the lead in terms of the volume of transactions, 752 of which were counted. They are followed by 462 contracts with a strike price of $32,000. December contracts, priced at $28,000, attracted relatively small volumes.
Such trading results are difficult to explain, given that, in general, market participants estimate the chance of Bitcoin's rise to at least $20,000 by the end of December as very low. The estimated probability of exceeding $20,000 is 5%, and $28,000 is only 2%.


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Sat Sep 19, 2020 3:12 pm

Forex Forecast and Cryptocurrencies Forecast for September 21 - 25, 2020


First, a review of last week’s events:

- EUR/USD. According to Reuters sources, the rate close to 1.2000 currently suits both sides, the US Federal Reserve and the ECB. Looking at the chart, one could clarify: not 1.2000, but 1.1850. After all, it is along this horizon the pair has been moving for seven weeks. But, in fact, the difference of 150 points has no fundamental significance here.
It would seem that the "dovish" rhetoric that sounded at the end of the Fed meeting on Wednesday, September 16, should have reduced the attractiveness of the American currency. Moreover, the regulator announced its readiness to keep low interest rates until 2023. However, nothing of the kind happened. The reason is that no less “dovish” statements are constantly being heard from the ECB side.
On the contrary, the dollar tried to go up against the background of the fall in the stock market, but this attempt failed as well. Investors believe in the prospects of the euro and begin to actively open long positions as soon as the pair approaches the lower border of the 1.5-month channel 1.1700-1.2010. As a result, the pair returned to its equilibrium state by the end of the week and finished at 1.1845;

- GBP/USD. The pound has been growing throughout the past week. And this despite the problems with the UK labor market, the worsening situation with COVID-19 and the still unsettled situation with Brexit. The initial vote in Parliament on the scandalous bill, the adoption of which will sharply increase the likelihood of a "hard" Brexit, did not add clarity to the order of parting with the EU.
Taking into account the above, the Bank of England at its meeting on September 17 did not begin to adjust the monetary policy, but decided, having taken a wait and see attitude, to leave everything as it is for the time being.
And despite all this, the pound managed to win back from the dollar more than 200 points and reach the iconic level of 1.3000 by midweek. This was followed by a rebound downward, and the pair completed the five-day period at 1.2921;

- USD/JPY. Like other regulators, the Bank of Japan decided to leave the interest rate unchanged. This decision was not a surprise to anyone. Markets associate much higher expectations with the departure of Prime Minister Shinzo Abe. Although his successor, Yushihide Suga, has vowed to continue his policy, certain changes will not take long.
Most experts last week voted in favour of the strengthening of the Japanese yen and the pair decrease to the level of 105.10 and then 100 points lower. And this prediction turned out to be 100% correct: the pair found the local bottom at 104.25, and placed the final chord in the 104.55 zone;

- cryptocurrencies. Last week, we talked about a new indicator for assessing BTC investor sentiment, which was presented by the analytical resource CryptoQuant. At the $10,000 level, bitcoin is "experiencing strong demand from buyers," according to the instrument. The majority (60%) of experts agreed with the possibility of a rebound of the BTC/USD pair from this support and its moderate growth to the $10,700-11,200 zone, and they were right: having fixed the weekly low at $10,200, the pair reached a strong medium-term level of $11,100 by midweek, around which it has been revolving for eight weeks.
The increase in bitcoin transactions was more than 75% in August, according to The Block news agency. This fact may indicate a return to the industry of small miners who dropped out due to halving in May. Now they have the opportunity to start earning again thanks to the growth in the value of the main coin. And this is a good factor for the main cryptocurrency. Moreover, not only the number of transactions increased significantly, but their volume, which amounted to more than $191 billion. In July, the same figure was around $85 billion.
On the other hand, according to Glassnode analysis, almost 10% of the reward to miners is spent on transactions to place BTC coins on centralized exchanges, which is why this cryptocurrency is facing strong pressure from sellers when trying to rise above $11,100.
The Bitcoin Fear and Greed Index has risen slightly and is almost in the middle of the scale at 49 (41 weeks ago). The total cryptocurrency market capitalization has also grown in seven days, rising from $334 billion to $355 billion.
And one more interesting observation of The Block, now about Ethereum. While in August, compared to July, the income of bitcoin manners increased by 23%, the income of the miners of ethereum almost doubled - by 98%. According to some analysts, this may be due to the growing interest in this altcoin from large investors.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. As for the technical analysis, it is clear that after a month and a half of the pair's movement in the 1700-1.2010 corridor and the finish at its center at 1.1845, neither trend indicators nor oscillators can give any intelligible signals. Graphical analysis on D1 also draws the continuation of the sideways trend. However, given the fact that the pair finished the last week near the 1.1900 resistance and that 15% of oscillators indicate it is overbought, we can expect its correction to the south. Most experts agree with this (75%). However, only global economic policy will be able to give a confident command for the EUR/USD pair to break through the boundaries of the specified channel in one direction or another.
There are plenty of arguments about the euro strengthening. We have already written that Bloomberg's outperforming indicators indicate further growth of EUR/USD. The reason lies in the faster recovery of the Old-World economy compared to the United States. The diversification of gold and foreign exchange reserves by the central banks of leading countries is also developing in favour of the European currency. And then there is China, the main export partner of the Eurozone, despite the COVID-19 pandemic, showed GDP growth in the second quarter.
And, finally, one cannot ignore the intention of the Federal Reserve to reduce the price of the dollar, and the unwillingness of the head of the ECB, Christine Lagarde, to start a currency war with her overseas colleagues because of this.
We will be listening to Fed Chief Jerome Powell's speeches for most of the coming week. It will start right on Monday September 21st, followed by a speech in Congress on Wednesday and Thursday. And on September 24, he will be accompanied by US Treasury Secretary Stephen Mnuchin. Will they say something fundamentally new or repeat just what Powell talked about on September 16? Most likely the second. But their speeches will surely be able to cause an increase in volatility;

- GBP/USD. The situation with the indicator readings here resembles the discord in the British Parliament during the Brexit vote. The only ones that give more or less clear signals are the oscillators on D1 - 75% of them are coloured red. But here the remaining 25% is already signaling that the pair is oversold. There is no consensus among the experts either, their opinions were equally divided: a third - for the growth of the pair, a third - for its fall, and a third turned their eyes to the east.
The graphic analysis was not clear either. Unlike most oscillators on D1, it indicates that the pair will first rise to 1.3000, and in case of a breakout, the next target will be 1.3185. The ultimate goal of the bulls is to retest the September 01 high at 1.3480. Support levels are 1.2760, 1.2650, 1.2500.
Moving from technical to fundamental analysis, it is necessary to recall the details of the last meeting of the Bank of England. Despite the absence of any decisions, the regulator's management did not hide that discussed the possibility of introducing negative rates as early as this November. And if such a decision is made, it can send the pound into a deep knockout. In the meantime, investors hope to be able to gain greater clarity on this issue from Bank of England Governor Andrew Bailey's speech on Tuesday 22 September;

- USD/JPY. Although the Bank of Japan has raised its assessment of the state of the economy, the government has no intention of altering the volume of the stimulus program. Therefore, in this case, investors are more guided by the “dovish” statements of the Fed. Undoubtedly, the fall of US stock markets also plays a role. As a result, just like a week ago, the majority of experts (60%) side with the bears, who expect the pair to continue downtrend and further strengthen the Japanese currency. At the same time, they do not exclude that it can reach first the low of 09 March 101.17, and then the psychologically important level of 100.00 in the coming weeks. The closest support is located in the 104.20 zone.
The remaining 40% of analysts, supported by graphical analysis on D1, expect that the pair will not be able to break through the 104.20 level and will rebound upward and return to the 105.80-106.30 zone. 15% of the oscillators on H4 and D1, signaling that the pair is oversold, agree with this scenario. It should be noted here that with the transition to the mid-term forecast, the number of supporters of the growth of the pair increases to 70%;
USDJPY 21.09.jpg
- cryptocurrencies. According to Dan Tapiero, co-founder of investment company DTAP Capital, the market has developed conditions for long-term strengthening of bitcoin. There are several macroeconomic factors that will drive increased demand for cryptocurrency. The main culprit is the US Fed, which is pouring money into the economy, thereby devaluing it.
“We are on the verge of economic turmoil; the situation will be similar to the crisis of the late 1980s. The value of American assets will fall by about half, which will cause a massive transition of capital from state securities to gold and bitcoin,” Tapiero said, stressing that during the last two and a half years we have seen consolidation of BTC and that now, most likely, we are waiting for an explosive growth in the value of the largest cryptocurrency. Investors just need to be patient.
Well-known writer and investor Robert Kiyosaki, who also considers bitcoin to be one of the best long-term investments, agrees with Tapiero. True, he warns that the invention of a valid coronavirus vaccine could lead to a collapse in the price of bitcoin and gold, which Kiyosaki sees as safe haven assets. But it is at this point that investors will have a great opportunity to acquire these assets.
The opposite point of view was expressed by analysts from Weiss Crypto Ratings, who believe that the Bitcoin downtrend that took over the market in the early days of September is not strong enough to drive the coin value below $10,000 in the near future. (For Ethereum, Weiss Crypto Ratings consider the $350 level to be strong support.)
Interesting results were also shown by recent trading on the Deribit crypto derivatives exchange. Their participants actively bet on bitcoin options with the expectation that the price will rise to $32-36 thousand by the end of the year. According to the company, December contracts with a settlement price of $36,000 are in the lead, 752 of which were counted. They are followed by 462 contracts with a strike price of $32,000. December contracts, priced at $28,000, attracted relatively small volumes.
Such trading results are difficult to explain, given that, in general, market participants estimate the chance of Bitcoin's rise to at least $20,000 by the end of December as very low. The estimated probability of exceeding $20,000 is 5%, and $ 28,000 is only 2%. Most experts (65%) believe that the BTC/USD pair will meet 2021 in the $9,000-10,000 range, 10% believe that it will continue to move along $11,000, and only 25% expect to see it above $12,000.


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
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Re: Nordfx broker: news, weekly Analytics

Wed Sep 23, 2020 4:46 pm

CryptoNews
CryptoNews 23.09.jpg
- 45 of 50 UK and US pension funds and insurance companies with assets of about $80 billion will increase investments in cryptocurrencies in the next five years. This follows from a survey conducted by crypto insurance provider Evertas in conjunction with the analytical company Pureprofile. 84% of respondents believe that the expected improvement in market regulation will contribute to the growth of institutional investors' interest in cryptocurrencies, 80% cited increased liquidity as the reason. 64% of survey participants are confident in the positive dynamics of investments in cryptocurrencies, and 26% expect their radical growth.
Negative interest rates on traditional financial instruments can become a serious impetus for the transition to the cryptocurrency space. The barrier for the active growth of crypto investments is the lack of a suitable option for their insurance coverage. This was stated by representatives of 28 out of 50 companies.

- The head of the blockchain centre CryptoQuant Kim Yong-ju believes that the next sale of bitcoins by miners will not be able to have a strong impact on the cryptocurrency market. Now, block miners are still trying to get rid of their accumulations, but not on the same scale as it was about a month ago. “The consequence of the last sale was a sharp decline in the value of the main coin. Since then, the cryptocurrency market has been trying to regain lost ground. The main asset is trying now to overcome the barrier of $11,000, but so far it is hampered by periodic corrections. Most likely, in the long term, the large number of bitcoins that miners have put up for sale will have a positive impact on the market, as it will increase activity, but now their actions are putting pressure on the industry,” the head of CryptoQuant explains.

- Well-known analyst Willie Wu also spoke about the current situation in the cryptocurrency market. According to him, miners now represent only one of two factors that put serious pressure on bitcoin. The second strong factor, according to Wu, is the exchanges. Commissions on them are a kind of tax for the market. Because of this, miners are forced to go to the exchanges to sell their assets as quickly as possible, trying to pay lowest fees for transactions. "This intersection of basic factors prevents bitcoin from getting out of a narrow frame between 10 and 11 thousand dollars," the analyst said.

- There was another recalculation of the complexity of mining in the bitcoin network last Sunday, as a result of which the value reached a new historical high. According to BTC.com, the complexity increased by 11.35% to 19.31T on block 649,152. The previous record was set on August 24 at 17.56T. The increase in complexity is a result of the high speed of adding blocks to the blockchain - over the past two weeks, one block was added on average every 8 minutes 59 seconds, with a target of 10 minutes.

- Encryption viruses disappeared from the TOP threats in the first half of 2020: they accounted for only 1% of the total number of hacker attacks. This was reported by experts from Group-IB. And this despite the fact that bitcoin ransomware was in every second malicious mailing list at the end of 2019. Now, however, fraudsters have shifted the focus of their attacks from individual users to large corporate networks. “Hackers focused on targeted attacks, choosing large victims and demanding significantly large sums of money from them. Probably, the desire of encryption operators to hit a big jackpot will gradually lead to an increase in targeted attacks, while email will continue to be the main source of their distribution,” the experts explain.
The leader among the threats of the first half of 2020. was phishing disguised as various online services. Amid the pandemic and the transition of businesses online, the number of fake web pages has risen to a record 46%.

- According to Bloomberg Chief Commodity Strategist Mike McGlone, the limited number of BTC coins and the growing level of adoption will lead to a gradual steady increase in its value. “I don't see what could stop Bitcoin from doing what it has been doing successfully over the past 10 years, namely, grow,” McGlone said. Bitcoin's fixed supply, according to the strategist, makes it a better means of saving than gold, the total number of which remains unknown. McGlone named the growing number of active bitcoin addresses and the increasing flow of BTC to regulated exchanges as two main factors proving the growing demand for the main cryptocurrency. Another indicator pointing to the growing maturity of bitcoin as an asset class is the decrease in its volatility compared to the Nasdaq index.
VanEck strategist Gabor Gurbax approached the assessment of the prospects for bitcoin more carefully. “Bitcoin is better than gold in some respects and worse in others. The free market will decide itself which of them wins,” he wrote. For reference: the advantage is clearly still on the side of gold at present, its capitalization is about $9 trillion, while the cost of all BTC coins is about $205 billion, that is, 44 times lower.

- Caffe Barbera, which is positioned as the “oldest roasting plant in Italy”, has started accepting payments in cryptocurrencies. For this company, this is the fourth generation of currencies: first, payments were accepted in the lira of the Kingdom of Italy, then in the lira of the Republic, then in euros. And now, Caffe Barbera celebrated its 150th anniversary by joining the digital revolution. Today the company has a presence in 55 countries, and its e-commerce site operates on five continents. According to the management of the “coffee empire”, thanks to the use of BTC, ETH and XRP, the number of geographical regions can be increased. “The cryptocurrency market is full of charm and fits with our philosophy,” the move is explained at Caffe Barbera.

- Analytical agency Cane Island Digital Research has published the results of a study according to which the total number of bitcoins in circulation will be significantly less than the planned emission volume. In particular, analysts have come to the conclusion that since 2010, about 4% of the total amount of available assets has been lost in the bitcoin blockchain every year. So, the report says, the current available supply will be around 13.9 million, well below the expected total supply of 18.3 million. At the same time, for the first time since May 2020, the irrecoverable losses of this cryptocurrency exceed the rate of production of new coins. Most of this dramatic change is due to the May halving, which reduced the miner reward of 12.5 BTC to 6.25 BTC per block.

- On September 17, the management of the Bank of England held a discussion of the current issues of monetary policy. From the published transcript of the unfolding discussion, it became clear that the UK may very soon move to negative interest rates. The emergence of such a news message has not gone unnoticed in the crypto community. Billionaire and bitcoin investor Tyler Winklevoss stated immediately that “if the Bank of England decides to move to negative interest rates, they will pay extra if you borrow money from them. It is difficult to imagine a better motive for investors to start taking out such loans and investing in bitcoins for a long time."


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Sun Sep 27, 2020 8:48 am

Forex Forecast and Cryptocurrency Forecast for September 28 - October 02, 2020


First, a review of last week’s events:

- EUR/USD. The overwhelming majority of experts (75%), supported by the oscillators indicating that this pair is overbought, expected its correction to the south. The argument was that the pair ended the week near the strong resistance zone of 1.1900 on Friday, September 18. The above scenario came true 100%, and finally breaking through the mid-term support at 1.1700, the EUR/USD pair flew downward last week, finding the local bottom at 1.1610.
There are several macro-reasons for the growth of the dollar and the fall of the euro. First, it is the deterioration of the epidemiological situation in the EU countries. Secondly, skepticism about the prospects for the recovery of the American economy. Fed Chairman Robert Powell has once again urged the government to discuss the issue of additional incentives in the framework of QE. We must not lose sight of the situation with the growth of the yield on US government bonds. All this made investors once again turn their backs on the stock market and commodities and think of the dollar as a protective asset. As a result, active buying of the American currency followed, the DXY index, reflecting the value of the USD against a basket of major currencies, went up sharply, reaching the height of 94.70, and the EUR/USD pair finished at 1.1625;

- GBP/USD. First, a few words about a non-standard pair, BTC/GBP. Rather, about what will happen to bitcoin if the Bank of England decides to lower the interest rate to negative values. Recall that at the last meeting, on September 17, the Bank's management did not adjust this rate, but it became clear from the published transcript that this is not excluded and could happen in the foreseeable future.
The appearance of such a news report has not been overlooked in the crypto sphere. Billionaire and bitcoin investor Tyler Winklevoss stated immediately that “if the Bank of England decides to move to negative interest rates, they will pay extra if you borrow money from them. It is difficult to imagine a better motive for investors to start taking out such loans and investing in bitcoins for a long time."
Great prospect for Winklevoss and the core cryptocurrency. But so far this has not happened, let's return to the GBP/USD chart. On Monday-Tuesday, the pound was retreating facing the American currency onslaught, however, the pair moved to a sideways movement in the second half of the week. Despite the fact that the UK, like France, reported a record increase in the number of infected with the coronavirus, the new government employment program helped, unlike the euro, to keep the British currency from further falling, allowing it to complete the five-day period at 1.2745;

- USD/JPY. As expected by 40% of analysts, the pair was unable to gain a foothold in the 104.00 zone, after which it went up 155 points. The week's results showed that investors at this stage decided to consider the dollar as the main protective asset, not gold or yen. Evidence of this is the sharp change in the correlation of the Japanese currency with the volatility of US stock indices, which determine the rise or fall of risk sentiment. The result of the last five-day period was the return of the pair within the two-month channel 105.20-106.55 and the final chord at 105.57;

- cryptocurrencies. Another attempt of bitcoin to gain a foothold above the $11,000 mark ended in another failure. As is often the case, the leap was taken over the weekend when the world's major exchanges were closed. But as soon as the traditional markets opened, the BTC/USD pair went down. Moreover, it is not entirely clear with what bitcoin correlates more, with risky stock assets or with such a defensive asset as gold. Everything was falling last week, but only the dollar rose in price. Therefore, it would probably be more correct to talk about the inverse correlation between the main cryptocurrency and the main world currency. (Although, it is clear anyway).
By the evening of Friday, September 25, gold dipped 5%, the S&P500 index lost 2.5%, the Dow Jones - 3.5%, and BTC - 3.2%. Moreover, on Wednesday, at its low, bitcoin fell to the level of $10.125, losing 7.5%.
According to the proponents of correlation with the stock market, the reason for the fall in the BTC/USD rate was a decline in share prices due to the Fed's statement that the US economy is still in a deep crisis, and because of another jump in the incidence of COVID-19. The news from China that the People's Bank of China may block the accounts of traders related to OTC trade for 5 years as part of the fight against money laundering cryptocurrencies, played its role as well.
Naturally, bitcoin is also under pressure from the ongoing sale of this cryptocurrency by miners. Block miners are still trying to get rid of savings, although not on the same scale as they were at the end of August. Moreover, according to a number of experts, miners now represent only one of two factors that put serious pressure on bitcoin. The second strong factor is the exchanges. Commissions on them are a kind of tax for the market, which is why miners rush to sell their assets as quickly as possible, trying to pay as low commission fees for transactions as possible. Such an intersection of basic factors, according to renowned analyst Willy Wu, does not allow bitcoin to get out of the narrow framework between 10 and 11 thousand dollars.
The total capitalization of the crypto market, having fallen in a seven-day period from $355 billion, returned to the level of two weeks ago in the area from $335 billion. The Crypto Fear & Greed Index is almost the same as before, at 46 (49 a week ago). But the bitcoin dominance index rose by 1.4%, and this despite the fall in the value of this coin. This fact only indicates that the sale of altcoins is going even faster. So, for example, if the BTC/USD pair lost 3.2% in seven days, ethereum (ETH/USD) fell by as much as 10%.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. It is difficult to predict whether the correction of this pair last week will develop into a long-term trend, or it will return to the limits of channel 1.1700-1.2010. But it is clear that a further sell-off of the European currency and a rise in the US dollar as a protective asset could cause the stock and commodities markets to collapse. This will be facilitated by an increase in the yield of US government bonds as well. Some forecasts suggest it could rise from the current 1.2% to 1.5%.
On the other hand, the largest multinational corporations in the United States do not need a strong dollar at all, since this will lead to higher prices for their goods and, as a result, decrease in sales and profits.
The upcoming presidential elections are catching up even more fog, since their results could radically affect the monetary policy of the US government, as well as Washington's relations with Brussels and Beijing.
In general, the situation is more than ambiguous. Therefore, the experts' votes were distributed as follows: 30% - for the fall of the EUR/USD pair, 30% - for its growth, and 40% took a neutral position.
As for technical analysis, the dollar wins with a clear advantage. Graphical analysis, 100% of trend indicators on H4, 80% on D1, and 85% of oscillators on both timeframes have voted for its growth and further decline in the pair. The remaining 15% of the oscillators give signals that the pair is oversold. Support at levels 1.1400, 1.1285, 1.1240 and 1.1165. Resistance levels are 1.1700, 1.1765, 1.1900 and 1.2010.
As for the macro events of the coming week, it is worth paying attention to data on the consumer market of the US, Germany, and Eurozone, which will be released on Wednesday 30 September. It will become known on the same day how much the US GDP fell in the second quarter of 2020. And of course, do not forget that traditionally on the first Friday of the month, October 02, the data on the US labor market will become known, including the number of new jobs created outside the agricultural sector of this country (NFP);

- GBP/USD. Against the backdrop of the pandemic, unsettled Brexit conditions, weak economic data and the prospect of negative interest rates, the British currency can hardly boast of strong, impenetrable support. That is why 65% of experts believe that after a temporary respite, the pound will go down again. 85% of oscillators and 90% of trend indicators on D1 fully agree with this. The nearest target of the bears is the 1.2500 zone.
An alternative point of view is supported by 35% of analysts, graphical analysis and 15% of oscillators, signaling that the pair is oversold. The bulls' task is to break through the resistance at 1.3000 and return the pair to the echelon 1.3000-1.3200;
GBPUSD 28.09.jpg
- USD/JPY. 60% of analysts, as well as the graphical analysis on D1, still hope that the yen will be able to play back the last week's losses and return the pair to the level of 104.00. At the same time, they, as before, do not exclude that it can reach first the low of 09 March 101.17, and then the psychologically important level of 100.00 in the medium term.
As for the remaining 40% of experts, supported by technical and graphical analysis on H4, they expect the pair to at least rise to the upper border of the 105.20-106.55 corridor, and possibly test the 107.00 height;

- cryptocurrencies. First a few words about long-term forecasts. So, according to Reuters, the EU authorities are preparing to introduce new rules for regulating the crypto sector by 2024. And, most likely, they will be formulated in such a way as to provide carte blanche to the new "crypto-euro", and the advantages of the existing digital assets will be reduced to zero. Financial officials will try to take full control of the crypto market, which was created precisely in order to avoid their iron grip. And his supporters will now have to look for ways to get around the traps of regulators. The main problem is the withdrawal of crypto coins to fiat. It is at this stage that the owner of the capital is identified. And here, according to forecasts of a number of experts, the newly created crypto-offshore companies in the face of developing African and Asian countries will be included in the transaction chain.
And a little more about the distant future. Unlike Reuters, some analysts are painting a much brighter outlook for bitcoin. According to Bloomberg Chief Commodity Strategist Mike McGlone, the limited number of BTC coins and the growing level of adoption will lead to a gradual steady increase in its value. “I don't see what could stop bitcoin from doing what it has been doing successfully over the past 10 years, namely, grow,” McGlone said. Bitcoin's fixed supply, according to the strategist, makes it a better means of saving than gold, the total number of which remains unknown. McGlone named the growing number of active bitcoin addresses and the increasing flow of BTC to regulated exchanges as two main factors proving the growing demand for the main cryptocurrency. Another indicator pointing to the growing maturity of bitcoin as an asset class is the decrease in its volatility compared to the Nasdaq index.
The results of a study conducted by Cane Island Digital Research also play in favor of this Bloomberg forecast. So, according to estimates of its analysts, the total number of bitcoins in circulation is actually much less than the planned emission volume. Analysts of the agency concluded that since 2010, about 4% of the total amount of available assets are lost annually in the bitcoin blockchain. “So,” their report said, “the current available offer will be about 13.9 million coins, far below the expected total offer of 18.3 million.” Thus, for the first time since May 2020, irretrievable losses of this cryptocurrency exceed the rate of production of new coins. Most of this dramatic change is due to the May halving, which reduced the miner reward of 12.5 BTC to 6.25 BTC per block.
As for the current forecast, the lower bar of the trading range for the BTC/USD pair remains unchanged at $9,500, with the main support at $10,000. At the same time, 65% of experts believe that the bulls will make another attempt to break through the resistance of $11,000. However, only 20% of experts agree that the pair will be able to reach the height of $12,000 in the coming week.


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.

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Re: Nordfx broker: news, weekly Analytics

Thu Oct 01, 2020 11:48 am

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- Bitcoin never managed to fall below $10,000. Cryptocurrency “whales” have re-activated after the main cryptocurrency approached this zone last week. The fall lasted only a few hours, and experts of the analytical service WhaleMap believe that large investors were simply waiting for the optimal moment for new investments. “It should be understood that for those who want to buy one coin, a downward correction may mean savings of several hundred dollars, but if we talk about 100 or more BTC, then the amounts become more significant. Large investors decided to take advantage of this and quickly replenished their stocks,” WhaleMap said in a statement.

- In the United States, a woman ordered the murder of her husband, offering to pay the killer in bitcoins. Judging by the ad, the customer was going to pay 12 coins for criminal services. She posted an ad on the search for the killer on the darknet, stating that she wanted to take the life of her husband, but could not do it on her own. A few days later, a man responded to the ad, who agreed to fulfill the order.
All this happened back in 2016, when the cost of 12 BTC coins was approximately $5,000. The woman transferred the funds, but her criminal order was never fulfilled. Before an in-person meeting with the killer, she asked several times why her husband was still alive, which is why the killer constantly had to look for explanations.
The killer turned out to be an undercover policeman, and, as a result, in January 2019, law enforcement officers found out about the woman's whereabouts and detained her.
The most interesting thing is that information about the correspondence of the customer with the alleged killer was recently released by a hacker who hacked the law enforcement authority’s resource.

- Bitcoin finished last week in the $10,750 zone. According to analyst portal Messari, this is the first time that daily bitcoin candles close above $10,000 for 63 consecutive days. The previous longest series was 62 days and was registered from December 1, 2017 to January 31, 2018, when bitcoin reached an all-time high near $20,000, having risen in price by 100% in two weeks. At the same time, the cryptocurrency was held above $11,000 for 50 days, and above $12,000 for 41 days.

- Bitcoin miners expect a repeat of the rally of the main coin of three years ago. Many market representatives are confident that there are all conditions for the cryptocurrency market to move into a stage of active growth now. It is about snatching the main coin to $20,000.
The head of the Crypto Quant trading platform, Ki Yong Joo, noted that signals for a return of bullish sentiment to the market began to appear in mid-summer, but strong external factors opposed the rise in the value of the coin then. The correlation with the stock market and gold was constantly changing, which is why the positive trend did not develop. Roughly the same situation was observed in the first half of 2017. Then the main coin was at values lower than the current ones, but from the middle of autumn it began to grow.
“There is no denying that mining pools are having a major impact on the cryptocurrency market. It is worth remembering the consequences of the halving this May, when the hashrate of the main coin dropped for a while. Growth in such conditions became impossible, so investors and holders of the asset moved to wait-and-see tactics. The situation is completely different now. Miner Position Index (MPI) continues to strengthen. They try to mine as many blocks as possible for maximum rewards. The hashrate of bitcoin is also stable at high rates," Joo said.

- US Fortune-500 medical services company Universal Health Services (UHS) became the victim of a ransomware attack. This is reported by the news site ZDNet. Some UHS hospitals were forced to switch to work without using computer systems, employees said. The problems affected UHS medical centers in North Carolina and Texas. Reddit users have also reported similar incidents in Arizona, Florida, and California.
According to some unconfirmed reports, UHS systems were attacked by the Ryuk virus, which, according to one version, is developed by Russian crypto hackers.

- The number of bitcoins mined exceeded 18.5 million units. A little less than 12% of the total issue, or less than 2.5 million coins, remains available for mining, most of which can be mined in the next four years.
Recall that according to the algorithm established by the creator of bitcoin Satoshi Nakamoto, the total amount of coins is 21 million, and halving occurs every four years - the reward for miners is halved. The main task of halving is to control the issue of cryptocurrency and its inflation. Thus, according to calculations, the last coin could be issued in 2140.

- Galaxy Digital Capital Management, an investment firm, notes in its September report that bitcoin could rise 60 times, becoming a more attractive asset than gold. Analysts draw attention to the fact that companies, whose shares are traded on the Wall Street stock exchange, and such legendary investors as billionaire Paul Tudor Jones, have already begun to invest in this cryptocurrency.
Experts at Galaxy Digital Capital Management draw attention to the fact that institutional players are beginning to perceive bitcoin as an inflationary hedge, that is, as a kind of "insurance" in case the US dollar loses the status of the world reserve currency.
Comparing the capitalization of gold (more than $12 trillion) and bitcoins (about $200 billion), analysts come to the conclusion that “the situation will level out towards the main cryptocurrency, into which there will be an outflow of investments from the precious metal.

- A study by the Cambridge Center for Alternative Finance says that around 100 million people in the world already own cryptocurrencies. In 2018, when a similar study was conducted, about 35 million people owned bitcoin and other coins, that is, three times less.
As of the end of the third quarter of 2020, up to 191 million addresses were registered on cryptocurrency exchanges. At the same time, analysts are not able to establish the number of anonymous wallets, which they pointed out in their report.
But it was found that up to 40% of cryptocurrency holders show periodic activity. The lion's share of BTC and other coin holders live in North America and Europe, followed by Latin America and the Asia-Pacific region.

- Bloomberg Intelligence Chief Commodities Strategist Mike McGlone believes the first cryptocurrency should be valued at $15,000. He came to such conclusions based on the dynamics of growth in the number of active addresses since 2017, writes the Cointelegraph agency. The analyst continues to be optimistic about the outlook for Bitcoin and believes that the first cryptocurrency is leading the "paradigm shift towards digital money and means of savings." At the same time, he estimates the likelihood of alternative scenarios as low.
Recall that at the end of June McGlone predicted a spurt of the first cryptocurrency to the resistance level of $13,000, and a little earlier he announced the inevitability of overcoming the level of $20,000 by the end of this year.


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Re: Nordfx broker: news, weekly Analytics

Sun Oct 04, 2020 2:30 pm

On the website of the best online broker and trading partner of FC Barcelona FBS you can always read the latest Forex news.
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Re: Nordfx broker: news, weekly Analytics

Sun Oct 04, 2020 3:50 pm

Forex Forecast and Cryptocurrencies Forecast for October 05 - 09, 2020


First, a review of last week’s events:

- EUR/USD. The question that we tried to resolve last week was whether this pair will continue its fall or return again to channel 1.1700-1.2010. Experts couldn't give any clear answer then. Their votes were divided as follows: 30% favored the fall of the pair, 30% favored its rise and 40% took a neutral position. As a result, the pair surely did not continue to fall, but it is also difficult to call its movement returning to the channel: having reached the local high at 1.1700 on Thursday, October 01, the pair turned around and completed the five-day period at 1.1715.
Investors were not particularly impressed by the fact that the Democrats in the US House of Representatives passed legislation on a new package of economic stimulus worth $2.2 trillion, especially since it was previously about $3 trillion-plus. The US labour market data didn't have much impact on anything either. ADP's September Private Sector Employment Report showed an increase to 749K, up from 481K a month ago and a 650K forecast. The number of new jobs created outside the agricultural sector (NFP), on the contrary, turned out to be less than both the August and forecast values: 661K in September, 1489K in August against the forecast for September 850K.
Investors were much more impressed by the news of the infection of US President Trump and the first lady with coronavirus. When this information appeared, the US dollar and the Japanese yen went up, but then the question arose, how serious this disease is and how it could affect the economic situation in the United States and in the world. And before at least some clarity appeared, the market paused, and the EUR/USD pair moved to a sideways movement in a narrow range of $ 1.1685-1.1770, within which, as already mentioned, it came to the end of the weekly trading session;

- GBP/USD. Against the background of Brexit uncertainty, the pair returned to the range where it was already trading on September 15-21 - 1.2805-1.3000, thus confirming the forecast given last week by 35% of analysts, graphical analysis and 15% of oscillators that signaled the pair was oversold. After a jerk up by 230 points, the strength of the bulls dried up, they could not break through the resistance of 1.3000, and the pair completed the five-day period in the area of 1.2935;

- USD/JPY. The last week cannot be called remarkable for the Japanese currency. Until Friday, the pair moved in a very narrow channel 105.30-105.75, and it was only on the news of the positive test for coronavirus by Donald and Melania Trump that the pair jumped down, reaching 104.95. This movement showed that, in such a critical situation, investors are likely to intuitively prefer yen, considering it a safer protective asset than the dollar. Although, a 70-point drop in the dollar could hardly be considered a major loss. Moreover, later the situation stabilized, the pair went up, and its final chord sounded at the level of 105.35;

- cryptocurrencies. We started our previous analytical review of the digital market with the phrase: "Another attempt by bitcoin to gain a foothold above the $11,000 mark ended in another failure." the same can be said about the outgoing week. Having bumped their heads against the ceiling of $10,940-10,970, the bulls gave up and the BTC/USD pair rolled back to the $10,400-10,500 zone, which fully confirmed the forecast, which was voted for by the majority of experts (65%). As for the Crypto Fear & Greed Index, it has dropped slightly over the past seven days, from 46 to 41, and is still in the neutral zone.
According to analyst portal Messari, this is the first time that daily bitcoin candles close above $10,000 for 63 consecutive days. The previous longest series was 62 days and was registered from December 1, 2017 to January 31, 2018, when bitcoin reached an all-time high near $20,000, having risen in price by 100% in two weeks. At the same time, the cryptocurrency was held above $11,000 for 50 days, and above $12,000 for 41 days.
According to the experts of the WhaleMap analytical service, bitcoin is now prevented from falling below $10,000 by large investors who begin to replenish their reserves as soon as the value of BTC approaches this level. It is for this reason that at the week high, the total capitalization of the crypto market, despite the drop in quotations, grew to $350 billion. However, on October 01-02, another sale of coins dropped it to $330 billion once again.
The dynamics of the cryptocurrency market is increasingly dependent on the mood in the traditional markets and is subject to changes in the risk appetite of investors. The latter in turn depend on the situation with the coronavirus and the reaction of regulators to it.
According to experts of Galaxy Digital Capital Management, bitcoin is beginning to be perceived by institutional players as an inflation hedge, that is, as a kind of “insurance” in case the US dollar loses the status of the world reserve currency. Comparing the capitalization of gold (more than 12 trillion dollars) and bitcoins (about 200 billion dollars), analysts of this company conclude that “the situation will level out towards the main cryptocurrency, into which there will be an outflow of investments from the precious metal, which may raise its value 60 times in the future.
If you look at the results of the first 9 months of 2020, it becomes obvious that the COVID-19 pandemic has already benefited bitcoin. Even despite the panic of late February - early March, the coin has risen in price by about 40% (gold - by 25%). If we take March 13 as the starting point, then during this period the main cryptocurrency has grown 2.75 times (gold - 1.3 times).
This situation also contributed to the growth of cryptocurrency fans. A study by the Cambridge Center for Alternative Finance says about 100 million people already own bitcoin and other coins in the world. In 2018, there were about 35 million of them, that is, three times less. The lion's share of BTC and other coin holders live in North America and Europe, followed by Latin America and the Asia-Pacific region. As of the end of the third quarter of 2020, up to 191 million addresses were registered on cryptocurrency exchanges.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. 65% of analysts supported by graphical analysis on H4 expect that the dollar will be able to strengthen its position somewhat in the coming days, and the pair will once again test support of 1.1600. This is opposed, respectively, by 35% of experts and graphical analysis on D1, according to which the EUR/USD pair, having returned to the 1.1700-1.2010 range, will continue to move towards its central part and will consolidate in the 1.1800-1.1900 range in the second half of the week.
Oscillators and trend indicators do not give any signals that are more or less suitable for forecasting. Particularly important macro statistics are not expected these days either. Interest may be caused by the speeches of the head of the US Federal Reserve Jerome Powell on Tuesday October 6 and his European counterpart Christine Lagarde on Wednesday October 7. The minutes of the US Fed Open Market Committee meeting will be published on the same day.
However, the main intrigue of the week will undoubtedly remain the health of the Trump presidential couple. If the old enough president of the United States quickly returns to full-time work, it will become a good trump card in his election race. Thus, he will be able to show that he assessed the degree of danger of coronavirus correctly and took adequate measures to combat the pandemic in the United States. If the symptoms of the disease turn out to be severe, this will not only force Trump to curtail the election campaign, but, showing the seriousness of the threat, will turn many doubting voters against him;

- GBP/USD. Due to the growth of the pair last week, the overwhelming majority of indicators (85%) are colored green. But will this trend continue in the future?
It is clearly not worth looking for the answer to this question in the readings of the indicators. As of Friday evening October 02, when this forecast is being written, Brexit news remains more than contradictory. British Prime Minister Boris Johnson is due to meet European Commission President Ursula von der Leyen on Saturday 03 October. How this meeting will end is anyone's guess so far. And then another factor of uncertainty arrived in time - the infection of Donald and Melania Trump with the COVID-19 virus. That is why the analysts' opinions are distributed as follows: 40% support the growth of the pair, 40% are for its fall and 20% have taken a neutral position. The nearest target of the bears is 1.2675, followed by support in the 1.2500 zone. The bulls' task is to break through the resistance at 1.3000 and return the pair to the echelon 1.3000-1.3200;

- USD/JPY. Graphic analysis both on H4 and D1 shows the pair's decline to the lowest of the past week in the 105.00 zone, and then another 100 points lower, where it already visited on July 31 and September 21. Resistance in this case will be the level of 105.80.
After completing this trip to the south, according to the graphical analysis on D1, the pair should return to the zone 105.00-106.00, and go further north by the end of October, to 107.00.
The bearish sentiment is also supported by 85% of the experts, as well as about 70% of the indicators. Analysts' forecasts are largely influenced by the situation with the coronavirus pandemic in the United States, which has now directly affected the Trump couple. And that's just a month before this country's presidential election. However, this situation can change very quickly, and then the scenario will be realized, for which only 15% of experts have now voted, according to which the pair will go up and quickly reach the zone 106.55-107.00;
USDJPY 05.10.jpg
- cryptocurrencies. The number of bitcoins mined exceeded 18.5 million units. Just under 12% of the total issue or less than 2.5 million coins remain available for production, most of which could be mined in the next four years and the last coin in 2140.
Recall that according to the algorithm established by the creator of bitcoin Satoshi Nakamoto, the total amount of coins is 21 million, and halving occurs every four years - the reward for miners is halved. The main task of halving is to control the issue of cryptocurrency and its inflation.
Bitcoin miners expect a repeat of the rally of the main coin of three years ago. Many market representatives are confident that there are all conditions for the cryptocurrency market to move into a stage of active growth now. It is about snatching the main coin to $20,000.
The head of the Crypto Quant trading platform, Ki Yong Joo, noted that signals for a return of bullish sentiment to the market began to appear in mid summer, but strong external factors opposed the rise in the value of the coin then. “There is no denying that mining pools are having a major impact on the cryptocurrency market. It is worth remembering the consequences of the halving this May, when the hashrate of the main coin dropped for a while. Growth in such conditions became impossible, so investors and holders of the asset moved to wait-and-see tactics. The situation is completely different now. Miner Position Index (MPI) continues to strengthen. They try to mine as many blocks as possible for maximum rewards. The hashrate of bitcoin is also stable at high rates," Joo said.
Bloomberg Intelligence chief commodities strategist Mike McGlone expects growth as well. He believes that the first cryptocurrency should be valued at $15,000. He came to such conclusions based on the dynamics of growth in the number of active addresses since 2017. At the same time, he estimates the likelihood of alternative scenarios as low.
As for the current forecast, almost everything is the same here: the lower bar of the trading range for the BTC/USD pair is $9,500, the main support is $10,000, the main resistance is $11,000. At the same time, the probability of the next attack of bulls to this height, according to experts, is close to 70%, and the probability of consolidation above this level is twice lower.


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

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Re: Nordfx broker: news, weekly Analytics

Wed Oct 07, 2020 5:25 pm

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- The creator of the well-known McAfee antivirus has been detained in Spain and is now to be extradited to the United States. In addition to tax evasion, the US authorities also accuse John McAfee of intentionally failing to file tax returns from 2014 to 2018. The indictment alleges that the businessman received millions of dollars in revenue from cryptocurrency promotion, consulting services, speeches and the sale of the rights to a documentary about himself.
The US authorities are confident that McAfee evaded tax in many ways, channeling money into bank and cryptocurrency accounts, investing in real estate, yachts and other luxury goods registered in other people. And the businessman himself, being the candidate for the US presidency from the Libertarian Party, admitted in his election video that he had not paid taxes for many years. Now he faces a prison sentence of up to 5 years on each of the charges of tax evasion and another year in prison for each of the five episodes of failure to file a tax return.
Recall that John McAfee became famous in the field of cryptocurrencies after he made a bet in the summer of 2017 that the price of bitcoin will reach $500 thousand by 2020.

- Bitcoin capitalization could exceed $5 trillion. According to experts from one of the shareholders of Tesla, the ARK Invest fund, this will take еру coin up to 10 years, but massive investments may begin earlier.
The ARK Invest report says that over the next five years, the capitalization of bitcoin will approach $1 trillion. After that, growth will occur at a faster pace, which will be reflected in the value of the asset. So, according to Bobby Lee, a member of the board of directors of the Bitcoin Foundation Foundation, by 2028 the price of the main coin can reach $500 thousand.
Еhe capitalization of bitcoin is about $ 200 billion now. According to the analytical service CoinGecko, it has remained practically unchanged over the past two months, although there were prerequisites for this. “Some investors still doubt the prospects and merits of bitcoin. Because of this, the main coin cannot exit the narrow frame. This has a particularly negative impact on the activities of traders who cannot open long-term positions, fearing serious drawdowns of the coin,” CoinGecko experts explain.

- The American Chamber of Digital Commerce has launched the Crypto for Congress campaign, under which it will donate $50 in bitcoins to each of the election campaigns of the members of the US Congress. This educational initiative should increase the attention of the people's representatives to blockchain and digital assets. In addition to bitcoins, congressmen will have the opportunity to complete relevant online training.
At the same time, overseas, British politician Godfrey Bloom added bitcoins to his investment portfolio for the first time in his life. At the same time, the 70-year-old aspiring crypto-investor admitted that he would like to learn more about digital assets. Godfrey Bloom was an MEP from 2004 to 2014. During this time, he distinguished himself with harsh statements against the traditional financial system, claiming that the banking structure is built on fraud.

- According to Chainalysis data, Latin America's share of the global cryptocurrency economy is about 7%. The largest activity is in the remittance sector, where Mexico leads (11% of total transfers).
According to Daniel Cartolin, a spokesman for Chainalysis, traditionally the volume of remittances between this country and the United States is very large. And cryptocurrency allows to reduce transaction costs and facilitate the process of sending and receiving funds. "One doesn't need to go to websites like Western Union or Moneygram to carry out a transaction. It can be done over the phone,” said the expert in an interview for El Economista.

- Bloomberg analyst Mike McGlone said In the monthly issue of the cryptocurrency market digest that the bitcoin rate could exceed $100 thousand within 5 years. Judging by the document, the logic of analytics is very simple: in 2011 BTC was worth about $10, in 2013 - $1,000, and it took four years to reach the $10,000 mark in 2017. That is, the growth rates are slowing down, and it will take not four, but eight years to conquer the next peak. Given that three of them have already passed, BTC will reach $100K by 2025.
Mike McGlone also expects BTC to return to 2019 highs of $14,000 by the end of this year.

- Another scam is unfolding on Twitter, aimed at siphoning bitcoins and ethereums from gullible users. The protagonist of the deception was again Elon Musk. Although it is clear that neither he nor his company have anything to do with this scam.
The message being circulated states that any registered user can receive bitcoins or ethereums by leaving their address. In addition, the one who sends a certain amount of cryptocurrency to Musk's company will become a participant in the draw with the main prize — the Tesla Model S car.

- A report from the CoinMeitrcs analytical service team says that against the background of weak volatility in the crypto market, investors prefer to keep coins, rather than sell them. The build-up intensified after the March collapse. Investors have been transferring bitcoins from exchanges to so-called cold wallets in recent months, reflecting their desire to switch to long-term storage of cryptocurrency.
The researchers found that the number of addresses holding BTC for more than one year reached its highest level in a decade last month - 63.5% of bitcoins have not moved anywhere since the autumn of 2019.

- The CEO of the venture capital company Social Capital, Chamat Palihapitiya, gave an interview to CNBC, during which the topic of cryptocurrencies was raised. He said he has held investments in bitcoin since 2012 and continues to build them up. When asked what he thinks about bitcoin, given the increased interconnection of the cryptocurrency market with the stock market, the investor replied that he still sees bitcoin as a hedge against the modern financial system.
“At a fundamental level, BTC does not correlate with traditional markets because it is based on a set of beliefs that are exactly the opposite of the attitudes that govern the modern world. This is the insurance I use to sleep well at night, in case the central banks and world authorities come across a bomb,” Palihapitiya said.


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Re: Nordfx broker: news, weekly Analytics

Sun Oct 11, 2020 11:25 am

Forex Forecast and Cryptocurrencies Forecast for October 12 - 16, 2020


First, a review of last week’s events:

- EUR/USD. We have repeatedly written about the ECB's fear of strengthening the euro as it poses a threat to the recovery of the Eurozone economy. However, neither the head of the ECB Christine Lagarde nor her colleagues want to start a currency war with the US Federal Reserve. Therefore, try to turn the market around not by actions, but by words.
The minutes of the September meeting of the ECB were to convince investors that, saving the economy from the second wave of COVID-19, the regulator could in the near future expand the quantitative easing (QE) program, and even reduce interest rates. And, judging by the quotes, at first the market believed in all this: EUR/USD pair went down, and the dollar went into growth. But all this did not last long: having lost about 80 points and reaching the 1.1725 zone, the pair turned around and went north again, ending the five-day period at 1.1825. As a result, it returned to the central zone of the side channel 1710-1.1920, the boundaries of which were outlined at the very beginning of August.
Most likely, such a change in trend is associated with forecasts regarding the results of the US presidential elections on November 3. Expectations of Joe Biden's victory pulled up the stock market and triggered another fall in the American currency. So, the S&P500 rose by 265 points in a week and a half, and the dollar shrunk by 210 points in two weeks. Although, it's likely that everything is built on emotions. And it is unlikely that anyone can explain why Biden will be better and more useful for the U.S. economy than Trump;

- GBP/USD. In general, the dynamics of this pair repeats the movements of EUR / USD, which suggests that everything depends not on the behavior of the common European or British currencies, but on the US dollar at the moment.
Macro statistics characterizing the state of the British economy turned all red. Data from the construction sector, industrial production, GDP - everything went into negative territory. There has been no particular progress in the Brexit negotiations. But the market did not react to these data in any way. And, if we look at the results of the week, the pound, albeit a little, bypassed the dollar, having strengthened by over 100 points. This is due to the growth of the US stock market, which caused a general weakening of the American currency (the DXY index fell from 94.64 on September 25 to 93.06 on October 09). The GBP/USD pair placed the finishing chord at the1.3045, in the Pivot Point zone of the last ten weeks;

- USD/JPY. Only 15% of analysts voted for the growth of this pair in the previous forecast. However, at the beginning of the week it listened to them and went north to the zone 106.00. Apparently, investors did not want to seek refuge in the quiet Japanese harbor and preferred risky sentiments. However, the situation calmed down a bit, the pair switched to a sideways trend, and it returned to the area where it had repeatedly stayed from September 25 to October 07 at the end of the week - to the zone 105.60. So the result of the last two weeks can be safely called zero;

- cryptocurrencies. Maybe bitcoin has already become a full-fledged protective asset? Many experts and investors ask this question. Indeed, it cannot jump over the $11,000 mark for the fifth week in a row, but it does not go down either, forming an "ascending triangle" pattern.
Its quotes were not affected either by the infection of the family of President Trump with the coronavirus, or hacker attacks, or attacks by regulators. How did Bitcoin react to the fact that the American CFTC regulator, together with the federal prosecutor's office, accused one of the largest cryptocurrency exchanges BitMEX of financial fraud? It didn't! Or here's the news of the theft of $200-350 million worth of crypto assets from the KuCoin Hong Kong exchange. Previously, it would have caused the effect of an exploding bomb. And now there is silence.
There is no need to talk about the arrest of the creator of the well-known antivirus McAfee, who became famous in the crypto world for his scandalous predictions and bets. Well, John McAfee (by the way, a former US presidential candidate from the Libertarian Party) avoided paying taxes with the help of cryptocurrencies. So what? The news is curious of course. But this is not a reason to drop the bitcoin rate.
The volatility of the main cryptocurrency has reached its lowest level in the last two years. A report from the CoinMeitrcs analytical service team says that against this backdrop, investors prefer to keep coins rather than sell them. The build-up intensified after the March collapse. Investors have been transferring bitcoins from exchanges to so-called cold wallets in recent months, reflecting their desire to switch to long-term storage of cryptocurrency. The number of addresses holding BTC for more than one year reached its highest level in a decade last month - 63.5% of bitcoins have not moved anywhere since the autumn of 2019.
Last week, BTC/USD pair, not falling below $10,500, made another attempt to break the resistance of $11,000, which is generally consistent with the scenario proposed by our experts. At the time of writing this forecast, the main cryptocurrency is quoted at $11,100. However, it is unclear whether it will be able to gain a foothold in this zone, since Saturday and Sunday are ahead, when strong price movements can occur in the thin market.
The total cryptocurrency market capitalization grew from $330 billion to $349 billion in seven days. Moreover, this chart is very similar to the BTC/USD chart, which once again reminds of which coin dominates this market. As for the Crypto Fear & Greed Index, it is at 48, almost in the very center of the scale. Note that, since the first days of September, this index has never gone beyond the central zone, staying in the range from 40 to 50, which is fully consistent with the current low volatility of the BTC/USD pair and confirms the close correlation of these two indicators.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. So, the next election of the President of the United States is getting closer, hour X is scheduled for November 03. But what can it change radically? In theory, we are talking about the normalization of monetary policy, which should strengthen the US currency. But in practice, the Fed's capabilities are already severely limited.
The Wall Street Journal estimates that most analysts (57%) believe that no matter who ends up in the White House, the labor market will not be able to return to full employment until 2023 at the earliest. And this increases the likelihood of a weakening dollar and further growth of the pair EUR/USD. And here it is again just right to start talking about the currency conflict between the Fed and the ECB.
As already mentioned, the European Central Bank does not like a weak dollar and a strong euro at all, and it would be glad if the pair turned south. Among the arguments that can convince investors to do this, experts most often refer to the serious deterioration of the epidemiological situation with COVID-19 in Europe, as well as negative forecasts on the state of the Old World economy, which could lead to an expansion of stimulus measures by the ECB, including an interest rate cut and a build-up to the QE program.
And another strongest factor is the growth of the US stock market. As long as it grows. But if suddenly, on the eve of or following the results of the presidential election, investors begin to massively fix profits, this will lead to a sharp rise in the dollar and a fall in the euro and other currencies.
Among the most important and interesting events of the coming week, one can note the speeches of the head of the ECB Christine Lagarde on October 12 and 13, the publication of macro statistics on the US consumer market on October 13 and 16, as well as the debate of the candidates for the President of the United States, which will be held at the end of the working week, on Friday October 16
- EUR/USD. 100% of the trend indicators on H4 and D1 are colored green. Among the oscillators, the majority (75%) also point north, but 25% are already giving signals that the pair is overbought. Graphical analysis indicates that the pair will move in the 1710-1.1920 channel for the next few days, after which it will drop to the lows of September 25-28 in the 1.1600 zone. As for the experts, most of them (60%) believe that the pair, before going down, will first rise to the upper boundary of the specified channel. The remaining 40% expect it to fall sharply to 1.1600;

- GBP/USD. Here, as in the case of other currencies, the forecast is based on the growth and fall of investors' risk appetites. GBR100 was able to grow following the American indices. And if the US stock markets continue to rise and the dollar to fall, then the GBP/USD pair will continue to grow. If mass profit-taking starts on stock markets in the run-up to the presidential election in America, then we can expect a downward turn. A lull, accordingly, will cause a lull.
As for technical and graphic analyses, their readings also coincide with those of their “colleagues” in the EUR/USD pair. The cancellation of the correlation of these two pairs can occur only for two reasons: 1) if something extraordinary happens in the negotiations between the EU and the UK on Brexit, or 2) if the ECB nevertheless decides to take decisive new steps to support the Eurozone economy, and the Bank of England, as they say , "remain as is", that is, does not take any additional incentive measures. The next speech by the head of this regulator, Andrew Bailey, is scheduled for Monday, October 12, and it is not excluded that he will outline the priorities of the Bank of England for the next period.
As was said, the pair finished last week in the medium-term Pivot Point zone at the 1.3045 horizon. The nearest support is 1.3000, the next ones are 1.2840, 1.2760 and 1.2675. Resistance levels are 1.3120, 1.3185 and 1.3265;

- USD/JPY. Considering the result of the past two weeks, there is no clarity with the near future for this pair, and the opinion of experts (50% to 50%) does not allow any conclusions to be drawn. Although, if you look at the readings of graphical analysis and oscillators on D1, the advantage is still with the bulls, and there is an opportunity for the pair to rise first to the resistance of 106.00, then to 106.40, and finally to the height of 107.20.
If we go from the weekly scenario to the monthly one, then there is a clear advantage among analysts, on the contrary, on the side of the bears. 70% of them expect the yen to strengthen and the pair to decline to the September 21 low at 104.00. Supports are 105.00 and 104.45;

- cryptocurrencies. Stock indexes rose and the BTC/USD pair grew last week, which gave the reason to once again talk about the correlation of bitcoin with S&P500 and Dow Jones. However, some reputable experts believe that this dependence is temporary.
So, the CEO of the venture capital company Social Capital Chamat Palihapitiya said in an interview with CNBC that he still sees bitcoin as a hedge against the modern financial system. “At a fundamental level, BTC does not correlate with traditional markets because it is based on a set of beliefs that are exactly the opposite of the attitudes that govern the modern world. This is the insurance I use to sleep well at night in case the central banks and world authorities come across a bomb,” Palihapitiya said.
According to experts from one of the shareholders of Tesla, the ARK Invest fund, the capitalization of bitcoin may exceed $5 trillion. This will take the coin up to 10 years, but massive investments can start earlier. This figure could reach $1 trillion in the next 5 years, after which growth will occur at a faster rate. This will also affect the value of the asset. So, according to Bobby Lee, a member of the board of directors of the Bitcoin Foundation, the price of the main coin can reach $500 thousand by 2028.
The forecast of Bloomberg analyst Mike McGlone is also interesting. In his opinion, the rate of bitcoin can exceed $100k within 5 years. The logic here is simple: in 2011 BTC was worth about $10, in 2013 - $1,000, and it took four years to reach the $10,000 mark in 2017. That is, the growth rates are slowing down, and it will take not four, but eight years to conquer the next peak. Given that three of them have already passed, BTC will reach $100K by 2025. Mike McGlone also expects BTC to return to 2019 highs of $14,000 by the end of this year.
As for the generalized forecast for the coming week, compared to the previous one, it shifted 500 points higher: the main support is expected at $10,500, the resistance at $11,500. The probability of a confident breakout of the $ 12,000 level is still estimated by analysts at only 10%.
BTCUSD 12.jpg

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.

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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Wed Oct 14, 2020 5:22 pm

CryptoNews
CryptoNews 14.10.jpg
- There has been a wave of calls in Japan about the mining of educational institutions and rural administrations from scammers who demanded a ransom in cryptocurrencies. The corresponding incidents have been recorded in at least 18 prefectures of the country. “Bitcoin was the most popular choice for criminals,” said Japan Today. "But in none of the cases has the information about the explosives been confirmed."
One of the incidents occurred in the town of Yamagata. Criminals demanded 40 bitcoins for clearing the building there. The authorities have already raised 450 thousand dollars and were going to transfer them into cryptocurrency for ransom. But when police and deminers went to the scene, no explosive devices were found. As a result, in none of the cases the demining ransom was transferred.

- Ethereum mining revenues have grown by about 40 percent over the past month. According to the analytical platform Glassnode, the main source of new earnings was the increased commissions. The popularization of the DeFi market was also reflected in the income of miners, which significantly increased the number of operations performed on the Ethereum blockchain.
However, the situation could change dramatically if Joe Biden wins the presidential election. This will cause a new wave of inspections and tightening of control over the financial market, due to which some of the DeFi projects will be closed. In this case, the industry will sag again, although the fall will not be as noticeable.
But Bitcoin, according to Bloomberg experts, will only win if Joe Biden wins. Under Donald Trump, the emphasis was on strengthening the dollar and all industries associated with it. Analysts are confident that the new American administration will think more progressively in financial matters, as a result of which the adoption of cryptocurrencies by regulators will accelerate significantly, while other assets will simply lose their relevance.

- Founded by Binance, the Blockchain Charity Foundation (BCF) continues to raise donations for the purchase of personal protective equipment against coronavirus infection. More than $4 million in cryptocurrency has been raised as of now.
The organization has already provided aid to 20 countries around the world, purchasing more than 450 million masks and other protective equipment for their medical facilities.

- A sheep farmer from Lincolnshire has been sentenced to 14 years in prison for extorting ?1.4m worth of bitcoins from supermarket chain Tesco, the Daily Mail reports.
For two years, 45-year-old Nigel Wright put cans of Heinz and Cow & Gate baby food brands on the shelves of the chain stores, which he stuffed with metal fragments, including shards of a stationery knife. After which he demanded ransom in exchange for a promise to reveal the location of the dangerous cans.
The sheep breeder was detained after a detective posing as a Tesco employee transferred ?100,000 in cryptocurrency to him. Two women testified in court, who almost fed the children with food containing metal fragments. According to one of them, her husband found a piece of a knife blade at the bottom of the can.
As a result of Wright's threats, Tesco had to recall from stores a total of 140 thousand cans of baby food, 42 thousand of them were destroyed. It cost the trading network ?2.7 million in losses.

- The manager of the investment company Cane Island Alternative Advisors, Timothy Peterson, is convinced that the price of bitcoin with a 90% probability will not fall below $11,000. The strength of support at this level is due to "long-term, fundamental trends."
According to the expert, Metcalfe's Law Value Approach has already helped him to successfully forecast the BTC price in late 2018 and into 2019. Let us clarify that this law states that the utility of a network is proportional to the square of the number of its users. In this context, the value of bitcoin depends entirely on the number of people using it.
According to Peterson's calculations, on November 30, 2020, the price of bitcoin will be above $12,000 with a 90% probability.

- CryptoQuant CEO Ki Young Ju said that since no Bitcoin inflow has been recorded, the coin will continue to rise.
To assess the volume of BTC transfers to exchanges, CryptoQuant has created its own indicator All Exchanges Inflow Mean, and now it remains in the “safe” zone: the “whales” are in no hurry to get rid of their reserves. And it looks like bitcoin's rise above $11,500 won't lead to its massive sell-off.

- Swiss luxury watch maker Franck Muller has created an exclusive line of bitcoin-themed watches called The King, which is available in two versions, each with just 10 pieces. The name correlates with the status of bitcoin, which is considered the king of cryptocurrencies.
You need to be a real bitcoin fan and a wealthy person to buy this watch. Although the price of these exclusive accessories is not yet known, there is still a benchmark: the Encrypto watches of this company cost from 10,000 to 54,000 euros.
A feature of The King model, like the Encrypto lines, is a set of QR codes on the digital dial. By scanning it, the owner of the jewelry can verify their personal bitcoin accounts.


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Mon Oct 19, 2020 8:43 am

Forex Forecast and Cryptocurrencies Forecast for October 19 - 23, 2020


First, a review of last week’s events:

- EUR/USD. The market is now ruled by two main factors: the second wave of the COVID-19 pandemic and the upcoming November 3 presidential election in the United States.
A rise of nearly 900,000 in applications for unemployment benefits showed that the labor market and the U.S. economy need more stimulus measures. And although, according to US Treasury Secretary Stephen Mnuchin, an agreement on such measures between Democrats and Republicans before the election is unlikely, negative statistics have tempered greatly the market risk appetite and pushed down stock indices such as the S&P500. This clearly benefited the US currency: by Thursday, the dollar gained 135 points, and the EUR/USD pair reached a local bottom at 1.1685. This was followed by a rebound downward, and the pair completed the five-day period at 1.1715;
It is possible that the “American” would continue to strengthen its position, but the “European” is actively helped by the confident development of the economy of China and the ECB, which is clearly not going to increase the volumes of its quantitative easing (QE) program.
The number of COVID-19 cases in Europe is growing, which could provoke the introduction of new strict quarantine measures that restrict economic activity. However, after the adoption of a program to support the European economy in the amount of €1.8 trillion at the end of July, the European Central Bank does not want to boost developments and expand its monetary stimulus program. At the moment, less than half of the funds have been spent within the framework of the already operating QE program, therefore, it simply does not make sense to talk about new incentives, according to the Vice President of the ECB Luis de Guindos;

- GBP/USD. The uptrend of the first 12 days of October is over, and the pair has moved to the sideways movement in the range 1.2860-1.3080. Moreover, the end of the week was left to the bears, who managed to put the final point at the level of 1.2915. An obstacle to the growth of the pound was the introduction of additional restrictions due to the coronavirus in London, as well as the statement of the EU leadership that the bloc, although it seeks a fair partnership with the UK, will not compromise at any cost;

- USD/JPY. This pair ended the weekly session at 105.40, in a zone of a very strong mid-term support, which has stopped its decline many times over the past 12 weeks. And now the question of what a safer haven for investors is, the dollar or the yen, remains open. The competition continues;

- cryptocurrencies. We often start our review of cryptocurrencies with criminal news. Nothing particularly outstanding in this area happened last week. Although police reports had information about attempts to blackmail and extortion of cryptocurrency now and then.
So, there was a wave of calls about mining buildings in at least 18 prefectures in Japan. Scammers demanded a ransom in cryptocurrencies. “Bitcoin was the most popular choice for criminals,” said Japan Today. "But in none of the cases has the information about the explosives been confirmed." As a result, the criminals did not receive money, but they have not yet been caught, unlike a sheep farmer from Lincolnshire (England), who has already been sentenced to 14 years in prison for extorting ?1.4 million worth of bitcoins from Tesco supermarket chain.
According to the Daily Mail, 45-year-old Nigel Wright put cans of Heinz and Cow & Gate baby food brands on the shelves of the chain stores, which he stuffed with metal fragments, including shards of a stationery knife, for two years, After which he demanded ransom in exchange for a promise to reveal the location of the dangerous cans. The sheep breeder was detained after a detective posing as a Tesco employee transferred ?100,000 in cryptocurrency to him.
As a result of Wright's threats, Tesco had to recall from stores a total of 140 thousand cans of baby food, 42 thousand of them were destroyed. It cost the trading network ?2.7 million in losses.
If Tesco has suffered losses, bitcoin holders continue to profit: the price of the main cryptocurrency has increased by about 3% over the past 7 days. As we predicted, the BTC/USD pair, despite several attempts, failed to overcome the resistance of $11,500 and marked a new consolidation zone in the area of $11,300-11,400.
The total capitalization of the crypto market during this time has also grown slightly and is at $357 billion. As for the Crypto Fear & Greed Index, it is still in the neutral yellow zone at the heart of the scale ¬— at 52 (it was 48 a week ago).
Bitcoin has risen by 8.5% in the last 6 weeks. But the results of such top altcoins as litecoin (LTC/USD), ripple (XRP/USD) and ethereum (ETH/USD) are almost zero. Ethereum mining revenues have grown by about 40 percent over the past month. According to the analytical platform Glassnode, the main source of new earnings was the increased commissions. The popularization of the DeFi market was also reflected in the income of miners, which significantly increased the number of operations performed on the Ethereum blockchain.
Its protocol and the ability to create smart contracts allowed to create decentralized financial instruments within the framework of DeFi and DAO projects that allow you to borrow or lend cryptocurrency, and also earn on its simple retention (staking). As a result, the number of daily active wallets in the Ethereum network quadrupled - from 12.8 thousand in the second quarter to 50.2 thousand in the third quarter of 2020. The Ethereum blockchain accounted for 96% of all transactions related to decentralized applications (dapps), for a total of almost $120 billion.
Such activity of competitors could not but excite the holders of the main cryptocurrency - bitcoin. And as a result of the joint work of the Kyber network, the Ren ecosystem and BitGo, a similar project was implemented - DAO WBTC. The results of the 4th quarter will show how effective and popular it will be.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. When looking at the chart of this pair, it becomes clear to the experienced trader that oscillators either on H4 or on D1 are unable to give any accurate predictions now. Among trend indicators, a certain advantage is on the red side - 70% on both timeframes. However, even despite the support of graphical analysis on D1, technical analysis cannot guarantee the continuation of the downtrend. The key word, as usual, is with fundamental analysis. Or rather, with those factors that were mentioned at the very beginning of the review.
Of course, it may be that we will hear something new next week. It seems that the main goal of the heads of regulators is to achieve their goals solely with words. Speeches by the head of the ECB Christine Lagarde are scheduled for October 18, 19 and 21, while the speech of the head of the US Federal Reserve Jerome Powell will be heard on Monday, October 19. But that's not all — a debate is due to be held by US presidential candidates Donald Trump and Joe Biden on Friday October 23. Only 10 days are left until the “X” hour, so the duel of politicians promises to be unusually hot.
Both Lagarde and Powell's speeches and the White House contenders’ debate could have a heavy impact on investor sentiment. And if the fall in stock indices continues, it will cause further strengthening of the dollar and further movement of the EUR/USD pair to the south. 60% of analysts agree with such a development, pointing out September lows around 1.1610 as a target. The remaining 40% believe that, having bounced off the level of 1.1715, the pair will go up. The nearest resistance levels are 1.1755 and 1.1825. The following barrier is located in zone 1.1900;

- GBP/USD. Not only the heads of the ECB and the Fed, but also the Governor of the Bank of England Andrew Bailey will talk a lot in the near future. His speeches are scheduled for October 18 and 22. However, he will not be the main newsmaker. The pound still has potential for further growth, but this requires a real breakthrough in the negotiations between the UK and the European Union on Brexit terms. And they, apparently, will drag on for another two weeks, or even longer. The fact that the Prime Minister of the United Kingdom Boris Johnson is not going to move away from the negotiation process is a good signal and gives us hope that an agreement with the EU can still be reached. But not in the coming days. Therefore, 70% of experts, supported by graphical analysis on H4 and D1, as well as 80% of oscillators and 90% of trend indicators on H4, believe that the GBP/USD pair may well fall to the 1.2700 zone in the coming week. Supports are 1.2845 and 1.2770.
The remaining 30% of analysts hope that the pair will remain within the boundaries of the channel 1.2845-1.3035 and will soon return to its upper border. The next resistance level is 1.3080;

- USD/JPY. Currently, the Japanese currency is supported by falling risk sentiments and rising yields on safe bonds. However, the yen is close to the key support at 105.00, breaking through which is a very difficult task. Just look at the chart for the last 12 weeks. And the battles for this level in 2018-19 left many memorable, non-healing scars on the bodies of bears.
The majority of experts (70%), supported by 75% percent of oscillators and 90% of trend indicators on D1, believe that the pair will still be able to overcome this barrier within two to three weeks and approach the September 21 low 104.00 at least for a time. Supports are 105.00 and 104.45.
As for the remaining 30% of analysts and graphical analysis, they forecast that the dollar will grow, and the USD/JPY pair is expected to break from the horizon of 105.00 and rise first to resistance of 106.00, then to 106.40, and finally to a height of 107.20;
USDJPY 19.10.2020.jpg
- cryptocurrencies. We noted in the first part of the review that the development of the DeFi market has significantly increased the popularity of ethereum. However, the situation could change dramatically if Joe Biden wins the presidential election. This will cause a new wave of inspections and tightening of control over the financial market, due to which some of the DeFi projects will be closed.
But Bitcoin, according to Bloomberg experts, will only win if Joe Biden wins. Under Donald Trump, the emphasis was on strengthening the dollar and all industries associated with it. Analysts are confident that the new American administration will think more progressively in matters of finance, in view of which the adoption of bitcoin by regulators will accelerate significantly.
The main task of this coin at the moment is to break through the important resistance of $12,000 and gain a foothold above it. It is at this level both in August 2020 and in 2019 that there was an activation of bears and a downward trend reversal. And if the bulls manage to overcome the resistance of sellers, BTC/USD pair have chances to reach the highs of last summer around $13,000-13,750.
According to the calculations of Timothy Peterson, manager of the investment company Cane Island Alternative Advisors, who uses Metclough's law for forecasts, the price of bitcoin with a 90% probability will not fall below $11,000. Moreover, with the same probability it should exceed the $12,000 mark by November 30, 2020.
Metclough's law in application to the crypto market states that the value of bitcoin depends entirely on the number of people using it. And according to Peterson, this approach helped him to successfully forecast the price of BTC at the end of 2018 and in 2019.
Another expert, CEO of analyst firm CryptoQuant, Ki Yong Joo, also believes that the coin will continue to grow, citing the absence of an influx of bitcoins on exchanges as an argument. To assess the volume of BTC transfers to exchanges, CryptoQuant has created its own indicator All Exchanges Inflow Mean, and now it remains in the “safe” zone: the “whales” are in no hurry to get rid of their reserves. And according to Ki Yong Joo's forecasts, bitcoin's rise above $11,500 will not lead to a massive sell-off.
Today, according to chain.info, the five largest cryptocurrency exchanges alone hold almost 2 million BTC coins, which is almost 11% of the total emission. These exchanges can be subjected not only to hacking attacks, but also to attacks by regulators and law enforcement agencies, which will result in the loss or blocking of significant volumes of the main cryptocurrencies. And this, as some experts believe, will cause a shortage of bitcoins in the market and an increase in its price. Although, almost no one believes now that the BTC/USD pair will be able to reach an all-time high of $20,000 by the end of the year. Even the probability of it pinning above the $13,000 horizon is only 25%. The probability of falling to $9,000 is exactly the same.


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.

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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Wed Oct 21, 2020 4:49 pm

CryptoNews
CryptoNews 21.10.jpg
- The Darkside Hackers hacker group donated $10 thousand each in cryptocurrency to two charities. According to the BBC, the hackers received this money by attacking several large companies with a ransomware virus. At the same time, the hackers released a message that says: “We believe it would be fair to send some of these companies' money to charity. It does not matter how bad you feel about our work. But we are pleased to know that we have helped change someone's life."

- According to the analytical service Glassnode, the number of addresses that store more than 100 BTC has grown to 16,159, reaching the maximum value in six months. The total number of addresses with a non-zero balance is approaching 32 million.
According to another analytical agency, The Block, in addition to the growth in the number of wallets, the number of transactions and the volume of commissions in the BTC blockchain are also growing. Over the past quarter, transactions worth $225 billion were made on this network. That is, on average, users were conducting transactions for $2.4 billion per day.

- Anton Kravchenko, CEO of the investment company Xena Financial Systems, advised keeping bitcoin for the long term: in his opinion, the rate could reach $14 thousand by the end of the year, and there are no obvious reasons to sell BTC now. Maxim Keidun, CEO of the HodlHodl trading platform, agrees with his colleague. “Bitcoin is trading well below the historic high of $20K,” he says, “and the likelihood of repeating the record is high. Among the reasons are the pandemic, the money printing press and the growing popularity of bitcoin with large companies."

- A well-known Hungarian politician resigned after being accused of illegal mining. This is reported by AMB Crypto with reference to local media. Tamás Borka-Sás chaired the Finance and Development Committee and was a member of the Hungarian Socialist Party. As a result of a police visit to his office, several computers were confiscated, presumably for mining bitcoin and ethereum, which were powered by stolen electricity paid from the state budget. In addition, this mining “farm” was hidden in a makeshift wooden container, causing the risk of ignition and endangering the lives of employees working in the building.

- Co-founder of Morgan Creek Digital investment firm Anthony Pompliano increased accumulations in the main cryptocurrency from 50% to 80%. He spoke about this in the Pomp Podcast. The remaining 20% of its assets are in real estate, fiat currencies and investments in startups.
Citing investments in Tesla stock and Bitcoin as examples, Anthony Pompliano noted that “the target market for Bitcoin is much larger than the target market for Tesla. There is also a non-economic argument: if Bitcoin becomes a global reserve currency or gains global acceptance, it will create a much fairer world. I think this is an important aspect, "the investor said, adding that he has no plans to sell BTC, even if its price reaches $100 thousand by the end of 2020.
Earlier, the head of Morgan Creek Digital said that with the base forecast, bitcoin will rise to $100,000 in 2021, but if the conditions are more favourable, the rate can grow to $250,000.

- Entrepreneur Jörg Platzer has closed his Room 77 bar, which accepted bitcoin since 2011. As a result, this establishment has become a cult destination for the crypto community. Bitcoin Core developer Eric Lombroso noted that his visit to Berlin was never complete without a visit to Room 77. “This place will forever remain part of bitcoin history,” he wrote. The owner did not give a reason for the bar's closing. He thanked customers for the tips and stressed that “no one else will stop bitcoin.”

- Popular TV presenter and long-time bitcoin supporter Max Kaiser believes that at current levels, bitcoin futures traders are suppressing the price of BTC to give institutional players a chance to "load the boat." However, once the asset reaches the $28,000 mark (the interim benchmark set by Kaiser), the number of coins for sale will go zero, and governments and institutions will buy cryptocurrency directly from the miners.
“For the poor of this world, the current price and availability of BTC,” says Kaiser, “is the only opportunity in life to purchase non-forfeitable hard money before the price of it rises to 40-80 times, and prices will soar to the level of golden parity by around $400,000.”

- According to the well-known bitcoin supporter Mark Yusko, representing Morgan Creek, over the next 30 years, cryptocurrencies will finally replace fiat money. The businessman sounded his forecast on the air of Dash Dinheiro Digital channel. Yusko said interest in cryptocurrencies is growing around the world. In parallel, there has been a decline in cash use. However, it cannot be guaranteed that Bitcoin alone will benefit from declining interest in traditional payment instruments. People can start using other cryptocurrencies more widely.
But BTC has its flaws as well, Yusko noted. For example, compared to the Visa payment system, transactions on the bitcoin network take longer to process.

- "Crypto Baron" and the inventor of the famous antivirus, John McAfee published the first tweets from a Spanish prison in his account, where he ended up after being arrested at the request of the US authorities, who accused him of tax evasion using cryptocurrencies.
“I'm happy here. I have friends. Good food. Everything is fine,” he wrote. McAfee, awaiting extradition, issued a warning to his fans: "You know, if I hang myself like Epstein, it won't be my fault." In his first prison tweet, McAfee admitted that he misses only his wife in prison: “She was my inspiration, my muse, friend, confidant and lover. She is encouraging and supportive of me, she is the cause of my life.”
Janice McAfee, John's wife, said the day before that her husband got limited access to Twitter behind bars: “Don't ask me how. Just appreciate the riddle.”


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Mon Oct 26, 2020 10:46 am

Forex Forecast and Cryptocurrencies Forecast for October 26 - 30, 2020


First, a review of last week’s events:

- EUR / USD. 40% of analysts predicted the growth of this pair to the 1.1900 zone and were right: the local weekly high was recorded at 1.1880, and the five-day period ended at 1.1860.
Strong macro statistics from the United States, as well as a record increase in the number of COVID-19 infected in the Old World, seemed to reverse the pair's trend south on October 21. But then Europe, together with Germany, showed an increase in business activity. This reduced the chances of a build-up of the European quantitative easing (QE) program and further growth in bond prices, which allowed the pair to return to its weekly highs;

- GBP/USD. The hope of a third of analysts that the uptrend was over and the pair shifted to a sideways movement did not come true: it moved north again, turning the upper border of the sideways channel 1.2845-1.3035 from resistance to support.
The UK and the EU continued negotiations, breaking the deadlock in which they stood since the end of last week. But then... they hit it again. As a result, the pair rushed upwards, but having reached a height of 1.3175, it turned in the opposite direction. Contributing to the decline was the Markit PMI in the UK services sector, which fell from 56.1 to 52.3.
The last chord of the week sounded at 1.3045. This means that the pound still gained 130 points in 5 days, and investors still hope that the UK and the EU can come to an agreement on Brexit. Although the main reason, of course, is not the strengthening of the pound, but the weakening of the dollar;

- USD/JPY. Recall that 30% of analysts, along with graphical analysis, expected the pair to rebound from the horizon at 105.00 and rise to the resistance of 106.00. And they turned out to be right: the pair reached a height of 105.75 by Tuesday October 20.
The remaining 70% of experts, supported by 75% of oscillators and 90% of trend indicators on D1, claimed that the USD/JPY pair will be able to approach the September 21 low of 104.00 at least for a while. And they were not mistaken either: - on Wednesday, October 21, the pair recorded a local low at 104.33, followed by a rebound and a finish at 104.70.
According to experts, such a sharp reversal and a fall from a height of 105.75 to 104.33 were a reaction to the general weakening of the dollar and, first of all, its depreciation against the Chinese yuan. The massive triggering of Stop-Loss orders when the support broke out in the 105.00 zone added fuel to the fire;

- cryptocurrencies. Finally! Bitcoin broke the $12,000 level and even hit the $13,200 high. And, as the CEO of analyst firm CryptoQuant, Ki Yong Joo, predicted, this growth has not led to a massive sell-off of the coin. This gives reason to hope that the main cryptocurrency will be able to gain a foothold in this zone.
Bitcoin has grown by almost 80% since the beginning of 2020. According to the analytical service Glassnode, the number of addresses that store more than 100 BTC has grown to 16,159, reaching the maximum value in six months. The total number of addresses with a non-zero balance is approaching 32 million.
According to another analytical agency, The Block, in addition to the growth in the number of wallets, the number of transactions and the volume of commissions in the BTC blockchain are also growing. Over the past quarter, transactions worth $225 billion were made on this network. That is, on average, users were conducting transactions for $2.4 billion per day. Four months ago, the average transaction was about $25,000, but it jumped 6 times by October 20, reaching $150,000.
Over the past week, bitcoin's gains have been driven by a very positive news background. Large institutional investors such as Square, MicroStrategy, Stoneridge and Mode Global Holdings have turned to Bitcoin. And the news that the payment giant PayPal is adding to its line of services the ability to buy and sell cryptocurrencies, including Bitcoin, Ethereum, Litecoin and Bitcoin Cash, came as a "cherry on the cake".
As a result, the benchmark coin rose 13.5% in seven days, pulling the entire crypto market with it, the total capitalization of which increased from $357 to $390 billion.The Crypto Fear & Greed Index rose from the neutral yellow zone to the border of the last quarter of the scale reaching the value of 74. Recall that the range from 75 to 100 is designated by the developers of the index as “Extreme Greed”, which corresponds to the pair BTC/USD being strongly overbought and foreshadows its correction.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. If you follow the textbooks on fundamental analysis, macroeconomic statistics is of basic, fundamental importance. However, there was no coronavirus pandemic when these books were written. And now it's here. And it is capable of destroying any predictions.
On the one hand, the incidence schedule in Europe is bursting upward, Germany and France set a new "anti-record" for the number of infected people on Thursday, October 22. Spain has become the first European country to see the number of people falling ill above 1m, putting pressure on the euro. But COVID-19 has hit supply as well as demand.
The situation is similar in the US. The number of coronavirus patients is approaching record levels. But at the same time, the country's authorities do not want to introduce new quarantine restrictions in order to support economic activity. Much, including the mood of the markets, depends on the outcome of the US presidential election on November 3.
According to Deutsche Bank, Morgan Stanley and JP Morgan, Democrat Joe Biden's victory will reduce the likelihood of a new wave of protectionist US policies and allow the pair to reach the 1.2000 mark. If Donald Trump wins again, the dollar, in anticipation of a new round of trade war, is likely to go into growth, and the EUR/USD pair will fall to the lows of September in the 1.1600 zone.
In the meantime, despite the fact that Biden's ratings are higher, investors are in no hurry to get rid of the dollar, because they remember how, unexpectedly for many, Donald Trump became the resident of the White House in 2016. And this can happen again.
The intrigue with the election results will continue after November 3, because they may be challenged, especially those of voting by mail, and the electoral college will meet only on December 14.
Now about the forecast for the coming week. The listed uncertainties prevent analysts from unambiguously pointing in one direction or another. However, 75% of them do not exclude a slight rise in the EUR/USD pair at least to the level of 1.1900. Also, 100% of indicators and 85% of oscillators on H4 and D1 are colored green.
The remaining 15% of the oscillators give signals that the pair is overbought. Its fall is also supported by 25% of experts, supported by graphical analysis on both timeframes. Support levels are 1.1800, 1.1760 and 1.1700. The ultimate goal, as already stated, is 1.1600.
As for the events of the coming week, special attention should be paid to the meeting of the European Central Bank on Thursday, October 29, and especially to the final press conference of its lmanagement, which will be held in the afternoon of the same day. The data on US GDP, which will be released on October 29, and the Eurozone GDP, which will be released a day later, on Friday, October 30, can also influence the formation of local trends;

- GBP/USD. The overwhelming majority (90%) of experts, supported by graphical analysis and trend indicators on D1, believe that the pair changed the echelon 1.2845-1.3035 to a higher one - 1.3000-1.3175. However, this forecast is very short-term, and its further behavior will be determined by the result of the presidential election in the United States, the epidemiological situation on both sides of the Atlantic Ocean and the course of negotiations between the EU and the UK on the terms of Brexit. If the parties show that there will be no withdrawal from the Agreement, this will have a beneficial effect on the pound rate. The situation on this issue should be clarified by mid-November. In the meantime, COVID-19 will continue to play the main role, having the most serious impact on the British economy and especially on finances.
It should be noted that when switching from a weekly to a monthly forecast, the picture changes radically, and here already the majority of experts (60%) and graphical analysis on D1 expect the pair to fall rather than rise: first to the level of 1.2860, and then by another 100 points below;
GBPUSD 26.10.jpg
- USD/JPY. We are waiting for the Bank of Japan's interest rate decision and its management's comment on monetary policy next week, on October 29. But, as usual, we do not expect any surprises from them, and the rate is highly likely to remain at the same negative level, minus 0.1%.
More interesting is the tug of war between the dollar and the yen as safe haven currencies. And here, given the pre-election and pandemic chaos in the US, 75% of experts prefer the Japanese currency as more stable. This scenario is supported by 90% of oscillators and 100% of trend indicators on D1.
Note that, starting in 2016, the USD/JPY pair has fallen below 105.00 for the seventh time. However, it usually lingers there only for a very short time, after which it returns above this mark. The question is still open as to what will happen this time. However, in the medium term, 60% of experts do not exclude that the pair may break through the support of 104.00 and even go down to the zone 102.00-103.00.
As for the graphical analysis, on D1 it draws a sideways movement in the 104.00-105.55 channel within the next three weeks;

- cryptocurrencies. On Friday evening, October 23, the BTC/USD pair is in the $12.860 zone - a new local support/resistance level. If bitcoin holds above $12,800, it promises to be the highest weekly rise in 2.5 years and offers hope for growth to historic highs around $20,000. The immediate challenge is testing the July 2019 high of $13,760.
Bitcoin's rise right now is driven by the pandemic, the monetary printing press that trillions of fiats are coming out of, and the growing popularity of cryptocurrency with large institutional investors. Thus, co-founder of Morgan Creek Digital investment firm Anthony Pompliano increased accumulations in the main cryptocurrency from 50% to 80%.
The number of contracts to buy BTC accumulated in the hands of institutional investors has reached an all-time high, according to the Chicago Mercantile Exchange (CME). However, according to the Commitment of traders (COT) reports, hedge funds hold no fewer contracts to sell bitcoin. A number of experts believe that hedge funds do this in order to provide sufficient liquidity for institutional investors.
Popular TV host and long-time bitcoin supporter Max Kaiser agrees with this version. He believes that at current levels, bitcoin futures traders are slowing the price of BTC to give institutional players a chance to "load the boat." However, once the asset reaches the $28,000 mark (the intermediate benchmark set by Kaiser), the number of coins for sale will go zero, and thanks to the deficit, their price will burst up to the cosmic heights.
“For the poor of this world, the current price and availability of BTC,” says Kaiser, “is the only opportunity in life to purchase non-forfeitable hard money before the price of it rises to 40-80 times, and prices will soar to the level of golden parity by around $400,000.”
Turning to the forecast for the coming months, we will cite the opinion of Anton Kravchenko, CEO of the investment company Xena Financial Systems, according to which the rate of the BTC/USD pair may reach $14,000 by the end of the year. 65% of experts agree with this forecast. The fact that the pair could fall to $9,000 was mentioned by 25% of analysts a week ago, now their number has fallen to 15%. The remaining 10% have taken a neutral position.


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
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Re: Nordfx broker: news, weekly Analytics

Wed Oct 28, 2020 5:32 pm

CryptoNews
CryptoNews 28.10.jpg
- The number of cryptocurrency whales has started to increase amid the recent rally in bitcoin. This is evidenced by the CoinMetrics data service. According to the company's specialists, the number of wallets containing more than 1000 coins reached 2.2 thousand on October 25. There were less than 2 thousand of them at the beginning of the year, and their number began to decline at a rapid pace before the May halving.
Based on the current rate, each of the cryptocurrency “whales” is the owner of a fortune of at least 13 million dollars. It is noteworthy that many of them invested in bitcoin during periods when it was very cheap, which speaks of the record profitability of the main coin for its "early" owners.

- One of the leading bitcoin ATM operators LibertyX has added the option to sell bitcoin for cash to 5000 devices located in the United States. This function avoids delays associated with bank transfers. Anyone who wants to sell bitcoins just needs to use an application or a website to enter the number of coins they want to sell and choose a convenient ATM that will give them cash in dollars after specifying the order number. The commission for such an operation is quite large: 8%.

- Bitcoin outperforms gold as an alternative currency and has a significantly better chance of continued growth, according to a new report by the US investment bank JPMorgan. At the same time, the bank's analysts draw attention to the low capitalization of bitcoin, which, in their opinion, is explained by the fact that mainly millennials choose the cryptocurrency. The older generation prefers to keep assets in tangible form, in particular, in gold. Despite this, however, bitcoin has significant potential for long-term growth as millennials will become "an increasingly important component of the investment space" over time.
JPMorgan estimates that the physical gold market, including ETF backed by it, is $2.6 trillion. Bitcoin needs to raise its current value of around $13,000 10 times to equal the precious metal in this respect.

- Hackers broke into the database of the Vastaamo Psychotherapy Centre in Finland. After gaining access to information on thousands of patients at the centre, they demanded a ransom in the amount of 450 thousand euros in bitcoins. The cybercriminals threatened to publish the stolen data and have already begun to implement the threat by uploading the personal data of at least 300 people to the web. The information included the patient's name, telephone number, email address, residential address, diagnosis, and the content of the therapy sessions.
The hackers also offered individual patients to delete their data for a ransom of up to 540 euros in bitcoins.

- After the payment giant PayPal announced the start of support for bitcoin and a number of other cryptocurrencies, Visa, Mastercard and American Express will follow its example. This opinion was expressed in an interview with Bloomberg by the CEO of the Galaxy Investment cryptocurrency fund Mike Novogratz.
However, speaking of bitcoin, Novogratz sees in it only a way to preserve capital and doubts that the first cryptocurrency will become widespread as a means of payment. “I don't think this will happen within the next five years. Bitcoin is used as a means of accumulation. Therefore, as digital gold, it will simply continue to rise in value, and more and more people will include it in their portfolios,” explained Novogratz.
As a reminder, PayPal announced the launch of the function of buying, selling and storing bitcoin, Bitcoin Cash, Ethereum and Litecoin on Wednesday, October 21. The company expects that the new feature will stimulate the global use of cryptocurrencies and prepare the web for digital currencies of central banks.

- According to analysts at Glassnode, the rate of bitcoin has not increased much so far. They conclude from this that the asset will have every chance to take on new barriers in the future. Investors are still only trying to figure out the new policy of bitcoin, since it is more focused on the internal environment now. Stock markets and other external factors have practically ceased to influence it.

- American programmer, US presidential candidate, "crypto baron" John McAfee, arrested in Spain at the request of the US and accused of tax evasion, gave an interview to Cointelegraph right from his prison cell.
The eccentric millionaire shared his thoughts on the latest developments in the cryptocurrency industry, praised the news of the addition of cryptocurrencies to PayPal's arsenal, and could not resist advertising his own cryptocurrency. “Very soon, we will be faced with a new direction in using cryptocurrencies to execute transactions, rather than as a quick get-rich scheme. That's why I developed the privacy-focused stablecoin Ghost,” McAfee said.

- The founders of the Gemini cryptocurrency exchange, the Winklevoss brothers, confirmed their previous prediction, saying that bitcoin will be worth $500,000 sooner or later.
'The question isn't whether bitcoin will cost $500,000 or not, the question is how quickly it will happen. In fact, even this assessment seems to me very conservative - the game has not really even started, "- said Cameron Winklevoss.
Tyler Winklevoss added that he and his brother started buying cryptocurrency back in 2012 and expressed confidence that bitcoin outperforms gold, oil and the US dollar as a store of value and is the only long-term inflation hedge.

- The CEO of MicroStrategy, Michael Saylor, who was prophesying the imminent decline of cryptocurrency in the past, claims that he is ready to hold bitcoin for 100 years and does not plan to sell it. Led by Saylor, the company has invested $425 million in bitcoin over the past months. “And this is not speculation or hedge. This is a targeted corporate strategy for the adoption of the bitcoin standard,” Saylor explained. According to him, having considered the available options for preserving capital amid the economic uncertainty in the world, MicroStrategy has come to the conclusion that bitcoin is the best long-term store of value. Taxes and commissions make investments in other assets meaningless, and if not, then they are flawed, because they are controlled by a company management or the state. Bitcoin, on the other hand, is evolving and only gets harder and stronger over time.
Sailor believes that gold cannot be compared to bitcoin. In his opinion, people who hold $100 million in fiat will lose 99% of the value of their assets in 100 years, and investments in gold will, at best, bring 85% of the loss.

- On Wednesday October 28, Donald Trump's campaign website was hacked. As a result, the content of the "About Us" page was changed to accommodate the addresses of the Monero cryptocurrency and the accompanying text. Cybercriminals claim in it to have hacked many devices and gained full access to information about Trump and his relatives. They also claim that they had information at their disposal, allegedly indicating the involvement of the Trump administration in the emergence of the coronavirus, as well as his personal involvement in criminal activity and cooperation with foreigners to manipulate the upcoming election.


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Wed Nov 04, 2020 4:51 pm

CryptoNews
CryptoNews 04.11.jpg
- According to the founder of the investment fund Off The Chain Capital Brian Estes, the attitude towards cryptocurrencies will change dramatically over the next ten years. This is especially true of the American market, which is still showing loyalty to digital assets. Roughly 90 percent of U.S. households will use bitcoin by 2030. Asia will be ahead in this industry, but China and other countries will focus on sovereign coins.

- Well-known analyst Willie Wu believes that bitcoin has entered the "safe haven" stage. He already predicted a similar development of events In early autumn. According to the cryptocurrency expert, the main coin is now showing relative stability, which is why it is not worth waiting for a repeat of the 2017 rally. In addition, even if Bitcoin does go into aggressive growth, it will be in for constant corrections.
“Correlation of the main cryptocurrency by other market industries is gradually decreasing. This ensures the stability of the asset but prevents it from moving to growth. It is because of stability that there is a certain stagnation now,” said Wu. Judging by the trend of recent days, the main coin may be between $13,000 and $14,000 for a long time to come.

- An unknown user withdrew 69,370 BTC (approximately $960 million) from a wallet that hackers have been trying to hack for several years. At the time of the transfer, this address was the world fourth largest holder of bitcoin. And, perhaps, the owner of the wallet simply transferred the coins to a new, more secure address. As noted by the Telegram channel Goldfoundinshit, the forums claimed that the wallet is associated with the founder of the anonymous trading platform Silk Road Ross Ulbricht, who is serving a life sentence in an American prison.

- Known as the "king of bonds," Jeffrey Gundlach, CEO of DoubleLine Capital, recommended the first cryptocurrency and gold as insurance against the dollar's depreciation. Interestingly, Gundlach was saying until recently that he was not ready to participate in the hype around bitcoin. In an interview with Business Insider, he had called the first cryptocurrency a "lie", doubting it was impossible to hack it. “I don't believe in bitcoin. I think it's well tracked. I don’t think it is anonymous,” he had said then. And now the businessman, who manages $141bn in assets, has offered his listeners to hedge the risks of inflation by adding gold and bitcoin to the investment portfolio.

- Residents of Cuba have become much more interested in bitcoin Over the past month. According to Google Trends, in terms of the number of searches related to the first cryptocurrency, the country came in second place, and is now second only to Nigeria. Bitcoin's rise in popularity in the island nation is due to tougher American sanctions, as well as restrictions on the use of PayPal and Stripe payment platforms.
South Africa, Cameroon and Ghana are also among the top five countries with a high interest in bitcoin. Residents of Taiwan, Kazakhstan and Japan turn to the search engine with such a request less often than others.

- Bitcoin showed a negative correlation with the Dow Jones index last week. While stock markets were declining all over the world, the rate of bitcoin rose by 5% and even exceeded the 2019 high. That's not yet the limit, according to some analysts. A new impetus for the growth of BTC may be given by the US presidential election. “Trump's victory should be well received by participants in the financial markets,” experts say, “and the bitcoin rate will grow along with the rates of other assets. If Biden wins, we will see the stock market fall. However, bitcoin is likely to show growth amid expectations of a depreciation of the dollar. "

- A cryptocurrency user in Canada decided to give kids Halloween gift cards, each with $100 in bitcoin, which is roughly 0.007 BTC. Interestingly, some candy hunters, dressed as ghosts, goblins, and witches, were disappointed to receive an inedible piece of cardboard. But there were also those who were delighted to become the owner of a real cryptocurrency. The information that bitcoins were being distributed in this house quickly spread throughout the area, and whole groups of children began to move there on purpose.
The reaction from the crypto community was positive, with many believing that it was a good way to introduce children to the crypto world. "This is a historic moment," said analyst Billy Wu. "When these children come to power, there will be only 0.002 BTC left for each person."

- According to Rai News, a 41-year-old employee of the airport in the Italian city of Lamezia Terme infected the computers of the airport network with a miner virus. He used their computing power to mine ethereum. In addition, the "crypto-enthusiast" has placed several of his own mining farms in the office premises, having powered them from the airport power grid. CCTV cameras managed to capture this, the records of which ended up in the hands of the city prosecutor's office.

- Several US banks have begun negotiations with major crypto custodians such as Anchorage and Coinbase on potential cooperation. This happened after the regulator officially allowed banks to provide such services. This was stated by the head of the United States Currency Exchange Office (OCC) Brian Brooks. He believes that financial conglomerates around the world will not create their own solutions for storing cryptocurrencies from scratch, but rather will buy market leaders or enter into cooperation with them to meet the needs of their customers.

- Hackers have stolen more than $13.6 billion in cryptocurrency since 2012, committing more than 330 hacks. This is stated in the study of the analytical service Atlas VPN.
Most often, hackers attacked decentralized applications running on the basis of the EOS blockchain platform. There were 117 such cases. Next on the list was the ethereum blockchain platform. The services developed on top of it were attacked 33 times.
As for money, most of all hackers stole it from crypto exchanges and crypto wallets. According to Atlas VPN, there were 87 successful hacks of trading platforms, as a result of which the attackers managed to withdraw $4.8 billion. Wallets suffered even more damage, where the total damage amounted to almost $7.2 billion.


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Sun Nov 08, 2020 1:08 pm

Forex Forecast and Cryptocurrencies Forecast for November 09 - 13, 2020


First, a review of last week’s events:

- EUR/USD. As we expected in the previous forecast, thanks to Joe Biden's victory in the U.S. presidential election, the growth of U.S. stocks and encouraging reports from the front against COVID-19, the euro and other competitors of the dollar can very quickly recover the positions previously lost.
As for the coronavirus, no positive news has yet been received from this front. Moreover, voting in the elections led to a new anti-record in the United States: 100,000 new infection cases in just one day.
Joe Biden, too, is finally yet to win. But the growing likelihood of a change in the owner of the White House has already led to an overflow of investor funds from fiat to the stock market. Investors loved the idea of a Democratic president and the division of Congress into two camps. In this case, there is less risk of tax increases Most likely, due to the relaxation of regulation, life will become easier for technology companies. As a result of such expectations, the dollar went down, while the S& P500, Dow Jones, as well as the euro and other major currencies, went up. So, the Chinese yuan managed to win back more than half of the losses suffered as a result of trade wars unleashed by Donald Trump. The common European currency also showed impressive growth. Starting on November 02 from 1.1645, the EUR/USD pair reached the level of 1.1890 by the evening of Friday 06 November, showing an increase of 245 points. The last chord was placed at 1.1875;

- GBP/USD. The British currency grew not only due to the fall in the dollar, but also thanks to the decision of the Bank of England, which decided to further support the country's economy on Thursday, November 05 by increasing the bond purchase program by ?150 billion and bringing it to ?895 billion. The market had expected increases to just ?845 billion pounds and this additional QE extension pushed the pound up to the October 21 high of 1.3175. The pair ended the week session at 1.3150, showing an increase of 200 points;

- USD/JPY. Recall the forecast that was given last week. We cite:
"Now this pair is sandwiched between two very strong levels - 104.00 and 105.00, and its further movement depends on the risk sentiment of investors. And those, in turn, depend on what will happen in the United States in the coming week. 65% of experts, supported by 85% of indicators and graphical analysis on D1, believe that the pair will make another attempt to break through the support of 104.00. But only 30 per cent are confident that it will be able to reach the 103.00 zone".
And now judge for yourself how accurate it was. The pair did go to break the support 104.00, broke it, but managed to go down only to the horizon 103.17. This was followed by a slight rebound and a finish at 103.30;

- cryptocurrencies. Let us start with statistics. According to Google Trends, according to the number of searches related to the first cryptocurrency, Nigeria, Cuba, South Africa, Cameroon are in the TOP-5 countries with the highest interest in bitcoin, and Ghana closes the top five. Residents of Taiwan, Kazakhstan and Japan turn to the search engine with such a request less often than others.
And, before moving on to the main event of the crypto week, some more statistics, from the world of crime. It has finally become known how many digital assets have been stolen by cybercriminals. According to a study by the analytical service Atlas VPN, since 2012, hackers have stolen more than $13.6 billion in cryptocurrency, making more than 330 hacks. Most often, thefts were carried out from crypto exchanges and crypto wallets. According to Atlas VPN, there were 87 successful hacks of trading platforms, as a result of which the attackers managed to withdraw $4.8 billion. Wallets suffered even more damage, where the total damage amounted to almost $7.2 billion.
And now the main promised news: Bitcoin soared to a height of $15.880 on the night of November 05-6, adding 17.2% over the week. It should be noted that since the last days of October, the main cryptocurrency again correlates with both stock indices Dow Jones, Nasdaq and Standard & Poor's 500 and with gold. Not surprisingly, during the pandemic, the US Federal Reserve printed a huge amount of new money, and many large investors, fearing inflation, included bitcoin in their portfolios as a protective asset. Therefore, a sharp jump in BTC / USD quotes in the second half of the outgoing week was associated with the expectations of Joe Biden's victory in the US presidential election, which caused a sharp weakening of the dollar and a capital flow into risky protective assets.
The total capitalization of the crypto market grew in 7 days by 9%, having risen from $410 billion to $447 billion.The Crypto Fear & Greed Index was at around 90 by the evening of Friday, November 06, in the zone that the developers of the index designated like “Extreme Greed”. This value corresponds to the BTC/USD pair being strongly overbought and portends its correction. Although, it should be noted, a certain correction has already taken place, and the pair rolled back to the $15.150 zone from the highs of the week and completed the seven-day period at $15.510.
Bitcoin's growth has pulled many top altcoins with it. So, Ethereum (ETH/USD) has grown 15% heavier over the week. Additional support for this coin was provided by the news about the imminent launch of the ETH 2.0 branch. However, for this to happen, the developers must raise funds in the amount of 524,288 ETH (about $230 million). Investments should be frozen for a period of one and a half to two years; the expected return is 8-15% per annum. If the necessary funds are raised in November, the launch of the ETH 2.0 genesis block will take place on December 1 at 12:00 UTC.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. Stock markets are growing, investors continue to pour money there, hoping that the wave raised by the hopes for the arrival of a new US President will grow higher and stronger. At the same time, the market forgets that the situation with the coronavirus is only getting worse, that Trump has not gone anywhere yet, and that no one has yet canceled the fiscal burden, and all this remains only at the level of election promises. Trump, if he loses, may well protest the election results. We should also not forget about the weakness of the common European currency.
In general, the flight of investors from the dollar towards stocks, bonds, gold, bitcoin and the euro, while understandable, may be premature. Everything can turn in the opposite direction overnight.
In such a situation, it is quite natural that the opinions of experts are equally divided: one third vote for the growth of the EUR/USD pair, one third - for its fall, and one third take a neutral position. As for technical analysis, 100% of the trend indicators on H4 and D1 are still green, but among the oscillators, 25% are already giving signals that the pair is overbought, which indicates a possible downward trend reversal or a serious correction. The trend reversal is also indicated by graphical analysis on D1.
The pair is in a strong mid-term support/resistance zone 1.1880-1.1900 now. The nearest support levels are 1.1760, 1.1700 and 1.1610. Resistance levels are 1.1965 and the September 01, 2020 high of 1.2010. It should be borne in mind here that this maximum is the highest point at which the pair has been located since May 2018. And if EUR/USD continues its northward movement, its main target is likely to be the zone 1.2200-1.2400;

- GBP/USD. There is a movie, “The King's Speech”, dedicated to George VI, father of Britain's current Queen Elizabeth II. The upcoming week can be called "The Head of the Bank of England' Speech." Moreover, he speaks a lot: Andrew Bailey's speeches are scheduled for November 09, 12 and 13. In addition, the data on the UK labor market will become known on Tuesday, November 10, and the GDP of this country for the III quarter and the consumer price index - on Thursday, November 12. According to forecasts, everything is quite contradictory. On the one hand, GDP can grow from -19.8% to +15.8%. But on the other hand, the growth of applications for unemployment benefits is expected from 28.0K to 78.8K. Now it is worth adding to this the ambiguity with the dollar exchange rate, which now depends on the outcome of the presidential election in the United States, as well as the still unresolved terms of the deal with the EU on Brexit.
As a result, we have rather vague prospects for the GBP/USD pair, although most experts (70%) tend to continue its uptrend - first to 1.3265, and then perhaps to the high of 01 Sept, 1.3480. The nearest resistance is 1.3175.
As for technical analysis, here the situation is completely identical to the readings for the EUR/USD pair: 100% of the trend indicators and 75% of the oscillators on H4 and D1 point to the north, while the graphical analysis looks to the south as well as 25% of the oscillators which are signaling the pair is overbought. Supports are 1.3085, 1.3000, 1.2855. The next target of the bears is 1.2755, but it is unlikely to be reached in the coming week;

- USD/JPY. So, as already mentioned, amid the protracted vote count in the US elections, the dollar dropped to a two-month low against the basket of major currencies last week, and most investors expect it to weaken further. Currency markets are betting that Democrat Joe Biden will be the next president, but Republicans will retain control of the Senate. In this situation, 70% of analysts believe that the Japanese currency will continue to strengthen against the dollar, as a result of which the pair will still break through support in the 103.00 zone and approach the level of 102.00. (Taking into account the backlash, slippage up to 101.75 is possible). It should be noted that it has not fallen so low since the beginning of the panic of March 2020, caused by the onset of the coronavirus pandemic.
In the current situation, one should probably not be surprised that the readings of the indicators for the USD/JPY pair coincide completely with the readings of their "colleagues" for the previous two pairs, with the only difference that the weakening of the dollar corresponds to the movement of this pair down, and not up, as in the case of the euro and the pound.
The remaining 30% of experts side with the bulls and vote for the return of USD first to the resistance of 104.00, and then fixing in the zone 104.00-105.00;

- cryptocurrencies. The COVID-19 pandemic has become a winning card for bitcoin. The more money Central Banks print to support the economies of their countries, the more investors begin to acquire Bitcoin as a protective asset. And not only private but also large institutional investors.
Cryptocurrency is no longer a pariah for financial giants such as JPMorgan and PayPal. The "king of bonds", the head of the management company DoubleLine Capital ($141 billion) Jeffrey Gundlach, who had recently called the first cryptocurrency "a lie", now recommends it as insurance against dollar depreciation.
According to Brian Brooks, head of the US Currency Exchange Office (OCC), some US banks are already actively negotiating with major cryptocurrency custodians such as Anchorage and Coinbase on potential cooperation. Brooks believes that financial conglomerates around the world will not create their own solutions for storing cryptocurrencies from scratch, but rather will buy market leaders or enter into cooperation with them to meet the needs of their customers. According to Off The Chain Capital investment fund founder Brian Estes, roughly 90% of households in the U.S. will use BTC coins by 2030.
As for the near future, according to a number of experts, after overcoming the critical $12,000 mark, there are no serious obstacles for bitcoin on the way to $20,000. At the moment, 60% of analysts agree that the BTC/USD pair will set off for a new assault on the $16,000 height in the near future.
Although, there are other opinions. For example, well-known analyst Willie Wu believes that bitcoin has entered the "safe haven" stage. “Correlation of the main cryptocurrency by other market industries is gradually decreasing. This ensures the stability of the asset, which is why it is not worth waiting for a repeat of the 2017 rally. And even if bitcoin goes to aggressive growth, Willy Wu believes, it will face constant corrections and return to the $14,000-15,000 zone. This point of view is now shared by 40% of analysts, while in the medium term their number increases to 60%. However, it is absolutely clear that the determining factor for the BTC/USD quotes in the foreseeable future will be the success of Donald Trump or Joe Biden in the fight for the presidency of the United States.
BTCUSD 09.11.jpg

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.

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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Wed Nov 11, 2020 6:13 pm

CryptoNews
CryptoNews 11.11.jpg
- Binance cryptocurrency exchange has started blocking the accounts of users from the United States. There are no official explanations for these actions so far. The emails that users received after being blocked say they need to withdraw all the funds from their accounts within 90 days.
According to The Block, previously blocking was carried out only if the user indicated that he or she was a US citizen during the registration process. Now the exchange finds them by IP addresses. For some clients, the administration offers to switch to the Binance US platform or its analogues, since they are not subject to the prohibitions of American law.

- The number of cryptocurrency ATMs has increased by 80% in 2020 compared to their number in 2019. Currently, there are about 11 thousand such devices in the world. An average of 23 new ATMs are installed every day.
According to experts, most often such ATMs are installed by small startups that are trying to make money on the exchange of cryptocurrency for fiat. The devices are installed in large shopping centers mainly in countries where the circulation of digital assets is allowed at the state level. The CoinATMRadar portal has a map of the location of cryptomats around the world. Judging by it, most of the devices are located in the United States and Canada. You can not only get fiat in them, but also buy the cryptocurrencies themselves, at the exchange value. It is not uncommon for the user to choose a platform with an up-to-date rate.

- Many representatives of the cryptosphere are happy with the fact that Joe Biden has most likely won the US presidential election. The crypto community believes that, unlike Donald Trump and his Treasury Secretary Steven Mnuchin, Biden will be more liberal about digital currencies and the blockchain industry in general.
According to Mike Novogratz, CEO of crypto trading bank Galaxy Digital, the new administration will accelerate the launch of the incentive program. In this situation, a further increase in investor interest in bitcoin is inevitable, as the dollar will become less attractive amid inflation.

- Popular blogger PlanB remains true to his forecast that the price of the first cryptocurrency will rise to $100 - $288 thousand by December 2021, which is consistent with the Stock-to-Flow (S2F) model on which his expectations are based.
The expert notes that during periods of market corrections, he observes how the algorithms of bitcoin whales pick up hundreds of portions of 0.01 BTC from "weak hands". Later these coins “disappear” in “deep” cold vaults.
According to the S2F model, this move of bitcoins to wallets for long-term storage leads to a reduction in their sales. This is especially true for the period after the halving, which leads to a supply shock and provokes a bull market for the next 18-20 months. This was the case for the first and second halving of miner awards in 2012 and 2016. According to PlanB, the dynamics of bitcoin after the third halving in May 2020 is developing like clockwork, which once again confirms he is right.

- Former associate of George Soros in the Quantum fund, billionaire Stanley Druckenmiller, said in an interview with CNBC that he had invested part of the capital under his management in the first cryptocurrency. He admitted that bitcoin may be a better instrument for preserving value than gold.
Druckenmiller has noted the growing stabilization of the first cryptocurrency since its launch 13 years ago. “I'm partly a dinosaur, but I've become better aware that bitcoin can become an asset class that will be interesting from the standpoint of a capital preservation tool,” the investor has explained.
In the same interview, the billionaire predicted a fall in the US dollar over the next three to four years.

- The Taiwanese laptop manufacturer Compal Electronics has fallen victim to the DoppelPaymer ransomware virus. For decrypting the files, the hackers demanded 1,100 BTC (almost $17 million at the time of writing), according to Bleeping Computer.
DoppelPaymer is distributed on Windows networks and is known for attacks on corporate networks by gaining access to administrator rights. According to experts from the information security company Group-IB, this virus entered the top three most aggressive and greedy ransomware of 2019.

- Bloomberg analyst Mike McGlone believes that the bitcoin rate will rise to at least $20 thousand in 2021 and renew its all-time high. This is not McGlone's first positive prediction. In early October, he suggested that the first cryptocurrency would rise in price to $100,000 by 2025 and gave several reasons for this. These include the monetary policy of the states, which leads to the depreciation of fiat currencies.
The expert added that the gold will rise in price next year on the same factors as BTC. Its value could rise to $2k an ounce.

- As the publication Unfolded notes, the dependence of Ethereum on bitcoin has been weakening since the end of October. The correlation of the two largest cryptocurrencies decreases amid preparation for the release of the updated version of the Ethereum network (ETH 2.0). It is this factor that has accelerated the separation of the main altcoin from BTC.
Now the correlation is at its lowest level since early 2018. If Ethereum rises in price to $500 in December against the background of weakening bitcoin (now ETH is holding at $460), then it will be able to finally "untie" from its "big brother".

- The market has marked consolidation at two addresses of bitcoins, which have not been in motion for 10 years. According to the data from blockchain.com, the aggregation of coins worth more than $15 million originated from 20 different addresses. Each of them transferred 50 BTC. Until the first halving in 2012, this was the amount miners received as a reward for a successfully mined block.
The situation with early bitcoins of the time of Satoshi Nakamoto always attracts increased attention of the crypto community. Everyone is primarily interested in whether they are really part of the legacy of Satoshi himself. So, more recently, the crypto community enthusiastically discussed the movement of bitcoins worth over $1 billion on the night of the US presidential election. The most fantastic versions were put forward, but later it turned out that this US Department of Justice confiscated almost 70,000 BTC from the purse associated with the Silk Road darkmarket.


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Sun Nov 15, 2020 8:45 am

Forex Forecast and Cryptocurrencies Forecast for November 16 - 20, 2020


First, a review of last week’s events:

- EUR/USD. Last week, we started talking about complete uncertainty in the market, when investors just shrug their shoulders, not knowing what to expect in the near future. Yes, Joe Biden has won the presidential election. It seems to have won. Since Donald Trump's team has already collected a lot of facts about the violations and falsifications and is going to challenge the election results in court. For the time being, a number of state bodies, including even the Office of the Director of National Intelligence (ODNI), refused to support the change of president. The distribution of seats in the US Senate remains questionable, and the priorities in the country's policy, including fiscal measures and programs to support the economy, depend on this.
It is completely unclear in which direction and at what speed the situation with the coronavirus pandemic will develop as well. Will there be a new lockdown and of what scale? The daily number of new cases of COVID-19 infection has exceeded 100 thousand in the United States for almost a week and a half already, which requires the adoption of new restrictions at least in some states. And this is a reduction in production, a decrease in the number of jobs and, as a result, a fall in stock indices.
In general, there are still much more questions than answers. And that is precisely why the forecast that we gave last week turned out to be absolutely correct. recall that the opinions of experts were equally divided then: one third voted for the growth of the EUR/USD pair, one third - for its fall, and one third took a neutral position. The nearest levels were named: support - 1.1760, resistance - 1.1965. The EUR/USD pair spent the whole week around these boundaries, fluctuating in the range from 1.1745 to 1.1920, and eventually returned to the Pivot Point zone, along which it has been moving for 16 consecutive weeks. The final chord sounded at 1.1830;

- GBP/USD. Let us start right away with the results of the week - the long-awaited breakthrough did not happen in the Brexit negotiations. And the storms, when the pound, following the forecasts of 70% of experts, first rushed to the north, reaching a height of 1.3315, and then turned southward, falling by 210 points to 1.3105, ended in complete calm in the middle of this range - near the horizon 1.3200;

- USD/JPY. We can state looking at the chart of this pair that those 30% of experts who had sided with the bulls and voted for the return of USD to the 104.00-105.00 zone were right. Following the yield on long-term American securities, the pair even tried twice to break through the resistance at 105.65, but failed, and eventually completed the five-day period at 104.60, climbing 130 points;

- cryptocurrencies. Let's start with the crime news, which did not differ much last week from what had happened before. For example, hackers have reminded of themselves again. This time, Taiwanese laptop maker Compal Electronics fell victim to the ransomware DoppelPaymer. The hackers demanded 1,100 BTC (almost $17 million at the time of writing) for decrypting the files. According to information security experts from Group-IB, DoppelPaymer spreads on Windows networks, is known for attacks on corporate networks by gaining access to administrator rights and was among the three most aggressive and greedy ransomware of 2019.
One more piece of news. The intrigue with the mysterious transfer of bitcoins worth over $1 billion on the night of the US presidential election ended. The most fantastic versions had been put forward, but it turned out later that it was US Department of Justice that had confiscated almost 70,000 BTC from the wallet associated with the Silk Road darkmarket.
Now some statistics. The number of cryptocurrency ATMs has increased by 80% in 2020 compared to their number in 2019. An average of 23 new ATMs are installed every day. Currently, there are about 11 thousand of them in the world, and most of them are located in the United States and Canada. According to experts, most often such ATMs are installed by small startups that are trying to make money on the exchange of cryptocurrency for fiat.
Last week, exchanging bitcoins for dollars became even more profitable, since, as predicted by most experts, the BTC/USD pair crossed the $16,000 mark. The main cryptocurrency rose to a height of $16,460 at its peak, and it happened on Friday 13 - the so-called "day of trouble", which got its name from numerous superstitions and myths and was immortalized in the famous American horror film.
However, as far as Bitcoin is concerned, this day, on the contrary, has delighted many holders of the reference cryptocurrency. Some began to take profits, hoping then to replenish their BTC wallets on a rollback. And those who were not going to sell their coins just got another dose of optimism in anticipating further growth in their capital.
If you look at the chart of the total capitalization of the cryptocurrency market for the last week, you can clearly see that when the BTC/USD quotes fell, active buying of coins began again. This happened both with the price falling to $14,390 on November 07, and the next pullback two days later. As a result, step by step, the pair rose higher and higher, which indicates an overall positive sentiment, and which allowed the total capitalization, as a result, to grow in seven days from $447 billion to $465 billion.
The Crypto Fear & Greed Index was in the same place as a week ago by the evening of Friday, November 13 - at 90, in a zone that the developers of the index designated as "Extreme Greed". This value corresponds to the BTC/USD pair being strongly overbought and portends its correction. Recall that in a similar situation on November 07, the pair lost about 8%. True, it then took less than a day to restore the quotes to the previous values.
As for ethereum, as the Unfolded notes, its dependence on bitcoin has been weakening since the end of October. The correlation of the two largest cryptocurrencies decreases amid preparation for the release of the updated version of the ETH 2.0 network. It is this factor that has accelerated the separation of the main altcoin from BTC. Now the correlation is at its lowest level since early 2018. If ethereum rises in price to $500 in December against the background of weakening bitcoin (now ETH is holding at $460), then it will be able to finally "untie" from its "big brother".


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. According to 90% of 65 Wall Street Journal experts, uncertainty in financial markets should decrease with clarity regarding the outcome of the US presidential election and news about the COVID-19 vaccine. Moreover, the head of the ECB, Christine Lagarde, believes that much has become clearer to her personally, thanks to Joe Biden's victory, the expected success in the Brexit negotiations and vaccine development. As a result, the more clarity, the less desire to buy up dollars, and the greater the cravings for riskier assets. And this should lead to the growth of the EUR/USD pair.
But Ms. Lagarde's view is not yet the view of the whole market. The second wave of the pandemic is only gaining momentum. How the United States will behave under Biden's presidency is also unknown. So, for example, 58% of Wall Street Journal experts expect that the size of the next economic aid package will be $1-2 trillion, 29% vote for an amount less than $1 trillion, and the remaining 13% call the figure of $2-3 trillion The continuation and scope of the trade and economic war between Washington and Beijing and many other factors remain in question.
Unlike fundamental, technical analysis doesn't know what presidential elections, trade wars or vaccinations are. That is why, despite the uncertainty prevailing in the market, the indicator readings now look much more specific. Thus, 100% of the trend indicators and 75% of the oscillators on H4 and D1 are painted green. They are opposed by only 25% of the oscillators signaling that the pair is overbought.
But as for analysts, although moods similar to Christine Lagarde's expectations prevail, it is still difficult to call them dominant. The bulls have very little priority: 50% of the experts side with them. Bears have 40% of supporters. The remaining 10% have taken a neutral position.
The narrowest trading range for the pair is limited by the channel 1.1740-1.1845, the next one with the increase in volatility is 1.1700-1.1900, and finally, the maximum swing of fluctuations, since August, is 1.1600-1.2000.
Among the most important economic events of the coming week, the publication of macro-statistics on the US consumer market on Tuesday, November 17 should be noted;

- GBP/USD. Bank of England Governor Speaks Marathon continues, albeit with less tension¬ - if last week Andrew Bailey spoke as many as three times, then for the next one only one of his speeches is scheduled, on Tuesday, November 17th. It is possible to predict with a high degree of probability that the purpose of such public activity of the banker is to convince the government and the public that the regulator has its finger on the pulse and that, despite the difficulties, one should look to the future with optimism.
However, the financier's optimism about the prospects of the British currency is shared by only trend indicators on H4 and D1 and oscillators on H4. But on D1, there is already complete turmoil among the oscillators - one third is colored green, one third is red and one third is neutral gray. This color scheme almost coincides with the forecasts of analysts, among whom 30% are in favor of the growth of the pair, 25% are in favor of its fall, and another 45% take a neutral position. As for the graphical analysis on D1, it definitely leans towards the strengthening of the dollar and the fall of the pound. The supports are 1.3100 and 1.3055, the goal is to return the pair to the echelon 1.2850-1.3000. Resistance levels are 1.3315 and 1.3285.

- USD/JPY. It is well known that the dynamics of this pair is greatly influenced by the yield of US securities - where they are, there it is. After falling to the horizon 103.15, the reversal of this pair and the rise to the level of 105.65 looks very impressive. But the result of the week turned out to be not so bright at all, because, after the rise, another fall followed, as a result of which the yen managed to win back more than 40% of its losses.
If you look at the D1 chart, the USD/JPY pair is still within the downlink, which began in the last week of March 2020. And whether it can reverse this trend depends largely on what happens to the real, rather than nominal, yield of 10-year US bonds. And it depends on the policy of the Fed, which, in turn, depends on who will soon be in the White House and what kind of strength awaits us in the Senate of this country.
In the meantime, 60% of analysts, supported by 90% of trend indicators and 70% of oscillators on both timeframes, believe that the pair will keep within the descending channel and will try to test support in the 103.00 zone again. Supports are at 104.35 and 104.00 levels. According to an alternative point of view, the pair is expected to rise first to resistance in the 105.00 zone, and then to a height of 105.65. The next goal is 100 points higher;
USDJPY 16.11.jpg
- cryptocurrencies. We have already written that the COVID-19 pandemic has become a winning card for bitcoin. The more money Central Banks print, the more investors begin to acquire bitcoin as a protective asset. But this card is not the only one. Many representatives of the crypto sphere were encouraged by the results of the US presidential election, where Joe Biden may have won. The crypto community believes that, unlike Donald Trump and his Treasury Secretary Steven Mnuchin, Biden will be more liberal about digital currencies and the blockchain industry in general. However, the issue of Biden's reigning in the White House has not yet been resolved, as Trump intends to prove numerous irregularities during the vote in the courts. So this “Big Game” has not yet ruled out big surprises.
Bloomberg analyst Mike McGlone believes that the bitcoin rate will rise to at least $20 thousand in 2021 and renew its all-time high. This is not McGlone's first positive prediction. In early October, he suggested that the first cryptocurrency would rise in price to $100,000 by 2025 and gave several reasons for this. These include the monetary policy of the states, which leads to the depreciation of fiat currencies.
Former associate of George Soros in the Quantum fund billionaire Stanley Druckenmiller agrees with McGlone, he also expects the dollar to fall on the horizon of three to four years. He revealed in an interview with CNBC that he invested some of the capital in the first cryptocurrency, while admitting that bitcoin may be a better tool for preserving value than gold.
A sharper growth curve for BTC/USD is predicted by a popular blogger under the nickname PlanB. So, if according to Mike McGlone's forecasts, the first cryptocurrency will reach $100 thousand only by 2025, PlanB expects to see it at this height by December 2021. The expert notes that during periods of market corrections, he observes how the algorithms of bitcoin whales pick up hundreds of portions of 0.01 BTC from "weak hands". Later these coins “disappear” in “deep” cold vaults. According to the S2F model, this move of bitcoins to wallets for long-term storage leads to a reduction in their sales. This is especially true for the period after the halving, which leads to a supply shock and provokes a bull market for the next 18-20 months. This was the case for the first and second halving of miner awards in 2012 and 2016. According to PlanB, the dynamics of bitcoin after the third halving in May 2020 is developing like clockwork, which once again confirms he is right.
At the moment, the BTC/USD pair has reached the highs of January 2018. But mass profit-taking is holding back greed in anticipation of its growth to at least $20,000. Especially since there are no serious levels of resistance along the way. However, global factors, such as Trump's victory or mass vaccination against COVID-19, as well as Chinese miners who have relaunched their equipment and need cash money to cover capital expenditures and operating expenses, may reverse the trend.
60% of experts expect the BTC/USD pair to be fixed above the $17,000 level by the end of November. 20% give a neutral forecast, and the remaining 20% expect the pair to fall to the $14,000-15,000 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
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Posts: 198
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Re: Nordfx broker: news, weekly Analytics

Wed Nov 18, 2020 4:26 pm

CryptoNews
CryptoNews 18.11.jpg
- Hackers attacked large companies in Israel, traditionally demanding a ransom in bitcoins to regain access to confidential information. The new ransomware virus was named Pay2Key. It affects corporate programs through which reports on financial transactions and other data are transmitted. According to IT company CheckPoint, if the conditions set by the criminals are not met, they usually simply upload the databases to the darknet or to specialized resources on the Web, where anyone can view the materials or buy them.

- Mike Novogratz's Galaxy Digital cryptocurrency bank, in collaboration with investment company CI Global Asset Management, will launch a new bitcoin fund in Canada. The investment company will act as its manager, and the cryptobank will act as co-manager. The latter will carry out all Bitcoin transactions on behalf of the fund. The asset value will be based on the Bloomberg CFIX Bitcoin Index. The partners have already announced preparations for the IPO, as part of the initiative. The offer consists of $10 Class A and F shares.

- Bloomberg analyst Mike McGlone is confident that the capitalization of the first cryptocurrency will reach $1 trillion in the second half of next year. However, first the price of bitcoin needs to overcome the main obstacle: the all-time high reached in December 2017 at around $20,089. Almost three years have passed since then, during which time the price managed to drop to $3,126, and then grow fivefold, reaching $18,000 at the moment.
“$20,000 is the main obstacle for bitcoin to capitalize at $1 trillion,” McGlone wrote. - The digital version of gold, but with a more limited supply and a history of adding zeros, appears to be in the early stages of pricing and may simply continue to grow in 2021. Its mass acceptance is growing."

- Actress Maisie Williams, who portrays Arya Stark in Game of Thrones, asked her Twitter followers if she should invest in Bitcoin. At the time of this writing, 650,369 users expressed their opinion, of which 50.7% answered in the affirmative, 49.3% - in the negative.
Comments from representatives of the cryptocurrency community appeared under the post. For example, the founder of the investment company Grayscale, Barry Silbert, recommended Williams to get acquainted with his firm. In the message, he stressed that "Game of Thrones" featured a "greyscale" in keeping with the name of his company, Greyscale.

- Thanks to consolidation in the status of digital gold, the rate of the first cryptocurrency can reach $318,000 by the end of 2021. This forecast was presented by Tom Fitzpatrick, Managing Director of one of the largest banks in the world, Citibank. He believes that the bitcoin market is now reminiscent of the 1970s, when dollar inflation led to increased demand for gold. In 1971, US President Richard Nixon carried out a series of reforms, abandoning the Bretton Woods system and pegging the dollar to gold. As a result, the price of this precious metal showed a steady increase over the next 50 years.
In his new report, Bitcoin: Gold for the 21st Century, Fitzpatrick writes: "Bitcoin moved in the aftermath of the Great Financial Crisis of 2008, when new changes in the monetary regime took place and we dropped to zero interest rates." He notes that currently, financial stimulus measures against the backdrop of the coronavirus pandemic are leading to the formation of conditions similar to the 1970s.

- The founder of the Galaxy Digital cryptobank Mike Novogratz admitted that he once bought his first 500,000 ETH at the rate of $0.99 from Vitalik Buterin. According to the billionaire, the Ethereum project team decided that it would be nice for the community to have a buyer from Wall Street.
As for bitcoin, Novogratz learned about it in 2012 and purchased the first 30,001 BTC at $95 per coin. When asked why such a strange amount, the billionaire replied that at that moment the head of the hedge fund Pantera Capital Dan Morehead bought 30,000 coins, and "then we decided that we would buy 30,001 because we could not afford to have more."
Novogratz also admitted that he planned to sell bitcoin at $1,000 to buy a plane, but he was talked out of it by partner Pete Briger.

- New US Senator Cynthia Lummis plans to bring the discussion of the first cryptocurrency to the national level. The politician said this in an interview with ABC News channel. “21 million bitcoins will be mined and that's it, this is a limited emission. Therefore, I am confident that it will become an important player as a store of value over time,” said Lummis.

- The popular American businessman Robert Kiyosaki agrees with the senator. “Bitcoin's rise has outpaced gold and silver,” he wrote. - What does it mean? This means that you need to buy as much bitcoin and precious metal as you can and don't put it off. The train is already leaving. The dollar is dying. When the dollar falls, the price doesn't matter anymore. What matters is how much gold, silver and bitcoins you have.”
It is curious that in addition to his bestseller "Rich Dad Poor Dad," Kiyosaki wrote two more books in collaboration with US President Donald Trump.

- The price of bitcoin broke through the level of $18,000 with a market capitalization of $338 billion. BTC has grown by more than 50% over the past month as its net purchases on crypto exchanges have far exceeded those of miners. Citing data from analyst firm Glassnode, cryptanalyst Will Wu pointed out that hourly purchases of BTC on exchanges are almost 20 times higher than the amounts attributed to miner sales. Another specialist, Lark Davis, also confirmed that 145,000 bitcoins left the exchanges in the last month, and only 27,000 BTC were mined during this time.


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Stan NordFX
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Re: Nordfx broker: news, weekly Analytics

Sun Nov 22, 2020 2:16 pm

Forex Forecast and Cryptocurrencies Forecast for November 23 - 27, 2020


First, a review of last week’s events:

- EUR/USD. Last week, we talked again about complete uncertainty in the market, when investors just shrug their shoulders, not knowing what to expect in the near future. And then the forecast was appropriate: 50% of the experts sided with the bulls, 40% supported the bears, and the remaining 10% took a neutral position. And it turned out to be the most correct: the pair moved in a very narrow range of 1.1815-1.1890 for the whole week and completed the five-day period in its central part, at the level of 1.1858.
The reason for this is the same uncertainty caused by the unclear balance of power after the US election and, as you might guess, by the situation with the second wave of the COVID-19 pandemic.
In addition to the fact that President Donald Trump has already reached the Supreme Court, where he is going to challenge the election results and where the Republicans have strong enough positions, there is now another conflict in the United States, between Treasury Secretary Stephen Mnuchin and the Federal Reserve System.
Mnuchin has said that emergency lending programs have already achieved their goals and that they should be completed this year. The Fed would like to see all of these programs designed to support the economy during the pandemic continue to work in full. 12 of the 13 credit lines through which the Fed is pumping trillions of cheap dollars into the economy are due to close on December 31, and if that happens, the stock market will be under intense pressure. Which will trigger a sell-off in stocks and a rise in the dollar as a haven currency.
According to the head of the Federal Reserve Jerome Powell, the time to complete emergency lending programs will not come soon. He is supported in this by the International Monetary Fund, which believes that the real state of the economy leaves much to be desired and the cessation of funding will lead to another collapse of world GDP.
It was reported on Thursday, November 19 that Republican Majority Leader in the US Senate, Mitch McConnell, seemed to be ready to resume negotiations on a new stimulus package. However, no one can say yet how these negotiations will end.
The situation with measures to counter the spread of COVID-19 also remains unclear. State authorities are trying to prevent a new round of the epidemic. New York has already decided to close schools, and the stock market went down on Thursday on the announcement of Mayor Bill de Blasio about the possible introduction of a ban on eating in public catering establishments. And although in Europe the situation with the pandemic is also quite difficult, it is still better than in the United States: thanks to the restrictive measures adopted in the EU, the virus is spreading more slowly here. But making any predictions is a thankless job in this case as well;

- GBP/USD. At the end of the week, the pound, albeit slightly, but grew up, having risen at the maximum from 1.3200 to 1.3310. And this despite the fact that negotiations on Brexit conditions between the EU and the UK were suspended on Thursday due to the infection of one of the members of the European delegation with the coronavirus. The pound was supported by the information about the resumption of negotiations between the Democrats and the US Republicans on fiscal stimulus, which we described above. Another support was the published data on retail sales in the UK, which increased by 1.2% in October. As a result, the pair closed the trading session closer to two-week highs, at 1.3290;

- USD/JPY. While the economies of the US and the EU are only trying to fight off another coronavirus attack, Japan is showing impressive success. GDP of this country for the third quarter increased to plus 5.0%. And this despite the fact that a quarter earlier it was minus 8.2%. Such indicators allow the yen to maintain its status as a major haven currency, making it more attractive, compared to the US dollar.
As a result, the forecast, which was given by 60% of analysts, supported by 90% of trend indicators and 70% of oscillators, was quite accurate. Recall that they felt that the pair would be kept within the downstream channel and would once again try to test the support in the 103.00 zone. True, the pair did not reach the target horizon and found a local low at 103.65. But its aspiration to the south is beyond doubt: having started the five-day week at 104.60, it finished it at 103.80;

- cryptocurrencies. The forecast we gave the previous week suggested that the BTC/USD pair should consolidate above the $17,000 level by the end of November. At the same time, it was noted that it is hardly worth waiting for a massive profit-taking in the near future, as it will be restrained by greed in anticipation of the price growth at least to $20,000. Especially since there are no serious levels of resistance along the way.
The reality has surpassed forecasts: having broken through the $17,000 and $18,000 levels, the pair soared to a height of $18,780, showing a weekly gain of 15%. In total, the first three weeks of November saw, bitcoin grow by 35%, and the total crypto market capitalization increase from $401 billion to $515 billion, and at the time of writing the forecast, on November 20, it continues to grow. Such volumes were only seen during the historic 2017 rally.
Among the main reasons for the growth, experts cite the increasing adoption of bitcoin by both private investors and large institutional investors. Thus, a survey of 700 millionaires conducted by DeVere Group showed that 73% of them either already own this cryptocurrency or are going to invest in it.
Another reason is the monetary policy of the US Fed. Amid the coronavirus pandemic and interest rate cuts, the US money supply has risen by 22% this year. And that is not the limit, as another stimulus package of about $2 trillion is expected under the QE program.
Finally, there is a third serious reason for the growth of the basic cryptocurrency. Recently, net purchases of bitcoin on crypto exchanges have been significantly larger than the sales of miners. Citing data from analyst firm Glassnode, cryptanalyst Will Wu pointed out that hourly purchases of BTC on exchanges are almost 20 times higher than the amounts attributed to miner sales. Another specialist, Lark Davis, also confirmed that only 27,000 BTC were mined in the last month, and as many as 145,000 coins left the exchanges. Moreover, most of them migrated to "cold wallets" as an object of accumulation.
It should be noted here that, according to experts, the imbalance between BTC supply and demand will only increase, stimulating the growth of the coin. The reason is that the Chinese government has started a fight against the largest community of miners¬: Beijing has banned ICOs, cryptocurrencies are classified as unwanted speculation, and miners' bank accounts have begun to be blocked. This is despite the fact that more than half of bitcoins are mined in China at the moment.
Returning to the results of the week, we note that Bitcoin Fear & Greed Index froze at 86 by the evening of Friday, November 20, in the zone that the developers of the index designated as "Extreme Greed". This value corresponds to the BTC/USD pair being strongly overbought and portends its correction.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. The US problems were described in the first part of this review. Considering scenarios for next year, Goldman Sachs predicts a 6% drop in the USD weighted rate in 2021, Citibank does not rule out that the dollar index could fall by 20%, and Morgan Stanley expects the EUR/USD pair to grow from the current 1.1800-1.1900 to 1.2500.
Looking to the near future, experts also give preference to the European currency. Thus, 65% of them expect that the pair will break the resistance of 1.1900 in the coming weeks and reach the zone of 1.2000-1.2100. Accordingly, 35% of analysts expect a decline to the level of 1.1700-1.1750. The likelihood of a fall to the November 4 low of 1.1600 is estimated so far at only 10%.
On the bulls side, there is a graphical analysis of 90% of trend indicators and 75% of oscillators on D1. The remaining 25% of the oscillators give signals that the pair is overbought. Closest supports are at 1.1740 and 1.1685 levels.
As for the most important economic events of the coming week, one should pay attention to the data on business activity in Germany and the Eurozone, which will be released on Monday 23 November, to macro statistics from the United States, including GDP for the third quarter and data on orders for durable goods on Wednesday 25 November, and to the results of the meeting of the Federal Reserve and on Thursday, November 26;

- GBP/USD. The October growth in consumer activity in the UK was most likely caused by the fact that the population was buying goods for future use before the coming lockdown. Therefore, it is possible that in November this figure will go into negative territory. Sales through online stores will not save it either. We should not forget the increasing likelihood of parting with the EU without a trade agreement. The leaders of European Union member states have already begun preparations for a hard Brexit, according to The Times newspaper.
Analysts' opinion has so far been divided equally. But when switching from a weekly forecast to a monthly one, the scales tilt in favor of the bears, and 65% of experts do not bode well for the pound, expecting the GBP/USD pair to fall by 300-400 points.
But the indications of technical analysis still look quite optimistic. 75% of oscillators, 100% of trend indicators on H4 and D1, as well as graphical analysis on H4 are colored green. An alternative point of view is represented by 25% of oscillators and graphical analysis on D1. Support levels are 1.3200, 1.3165, 1.3100, 1.3035 and 1.2855, resistance - 1.3310, 1.3400 and the August 1 high of 1.3480.
As for macroeconomic indicators, we advise you to pay attention to the November Markit PMI, which will be published on November 23 and, according to forecasts, may fall by more than 15%, from 51.4 to 42.5;

- USD/JPY. Until there is some clarity regarding the further monetary policy of the United States, the preferences of conservative market representatives will remain on the side of the Japanese currency. This is what at least 45% of analysts think, supported by 80% of indicators on both timeframes. 25% of experts have supported the growth of the dollar and the USD/JPY pair, and the remaining 30%, together with graphical analysis on D1, have taken a neutral position. Supports are located at 103.65, 103.15 and 102.00, resistance levels are 104.50, 105.15 and 105.70.
As for the graphical analysis, it draws a rebound upward from the central line of the descending channel in the 103.40 zone on D1, and the pair's return to its upper border in the 105.40-105.65 area;

- cryptocurrencies. Many investors are wondering if it is too late to buy bitcoins now. The Crypto Fear & Greed Index, together with other indicators, have been in the overbought zone for a long time, the pair has almost approached the cherished $20,000, and no serious correction has yet occurred.
Actress Maisie Williams, who portrays Arya Stark in Game of Thrones, asked her Twitter followers if she should invest in bitcoin. More than 650 thousand users expressed their opinion, of which 50.7% answered in the affirmative, 49.3% - in the negative. The result is almost equal, which indicates a possible reversal of the downward trend.
A number of specialists expect the BTC/USD pair to fall to support in the $15,700 zone. But there are also notorious pessimists who recall the catastrophe of 2018, when the price collapsed from an all-time high of $20,000 to $3.125.
However, now the situation is somewhat different than in 2018. Bitcoin has proven not only its survivability during this time, but also its ability to generate colossal profits. Even Jamie Dimon, CEO of banking giant JPMorgan, admitted it. Now his analysts advise investing in this cryptocurrency, which Daimon had called "fraud and stupidity" back in 2017 Another giant is the PayPal payment system, which has only recently introduced a service for investing in cryptocurrencies, due to high demand, it has already doubled the limit, which has now reached $20,000.
A forecast was presented by Tom Fitzpatrick, Managing Director of one of the largest banks in the world, Citibank. According to him, thanks to consolidation in the status of digital gold, the rate of the first cryptocurrency can reach $318,000 by the end of 2021. Fitzpatrick believes that the bitcoin market is now reminiscent of the 1970s, when dollar inflation led to increased demand for gold. In 1971, US President Richard Nixon carried out a series of reforms, abandoning the Bretton Woods system and pegging the dollar to gold. As a result, the price of this precious metal showed a steady increase over the next 50 years.
In his new report, Bitcoin: Gold for the 21st Century, Fitzpatrick writes: "Bitcoin moved in the aftermath of the Great Financial Crisis of 2008, when new changes in the monetary regime took place and we dropped to zero interest rates." He notes that currently, financial stimulus measures against the backdrop of the coronavirus pandemic are leading to the formation of conditions similar to the 1970s.
It seems that legislators in Washington are also turning to cryptocurrencies. While Beijing is putting pressure on its miners, new US Senator Cynthia Lummis plans to bring discussions on the first cryptocurrency to the national level. “21 million bitcoins will be mined and that's it, this is a limited emission. Therefore, I am confident that it will become an important player as a store of value over time” said Lummis.
Robert Kiyosaki, a popular American entrepreneur and author of the bestselling Rich Dad Poor Dad, also agrees with the Senator. “Bitcoin's rise has outpaced gold and silver,” he wrote. - What does it mean? This means that you need to buy as much bitcoin and precious metal as you can and don't put it off. The train is already leaving. The dollar is dying. When the dollar falls, the price doesn't matter anymore. What matters is how much gold, silver and bitcoins you have.”
As for the forecast for the coming days, the overwhelming majority of experts (80%) have supported the sideways movement of the BTC/USD pair in the $18,000-19,000 range. And only 20% expect it to fall below $18,000. No one has voted for the breakdown of the $19,000 resistance in the coming week. However, if we talk about the forecast before the end of the year, 70% of analysts agree that bitcoin can update historical highs.
BTCUSD 23.11.jpg

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.

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