feedback
The FxPro Analyst Team

Forex: Will Bitcoin Collapse or Grow to Reach 100K?

Although it may be too early to write Bitcoin’s obituary, technical problems continue to hover over the cryptocurrency. The activation of Segwit and the Lightning Network wasn’t sufficient to cope with the CBOE’s launch of Bitcoin futures, leading to approximately 200K incomplete transactions on the Bitcoin network. In addition, Bitcoin payment fees have increased approximately 100 times, from 20 cents to $20, and companies have started to react to this change. Steam, the digital distribution ...

The FxPro Analyst Team

Forex: Bitcoin Price Surges as Trading Launches on CBOE, Market Displays Caution

The launch of Bitcoin futures on the CBOE on December 10 attracted a lot of market attention, with the exchange’s website going offline due to heavy traffic. The price for Bitcoin futures with a January expiration date went up from $ 15,000 to $ 17,780. The CBOE also decided to introduce “automatic stop cranes” for transactions to face the possibility of sharp movements, with trading to be halted for 2 or 5 minutes if price increases or falls more than 10% or 20% respectively. Prior to the ...

The FxPro Analyst Team

Forex: The $20,000 Mark is Not Optimistic Enough for Bitcoin

On December 8th, Bitcoin reached the $18,300 mark, only to drop by $3,000 after experiencing a major correction. Currently, it is headed back to $16,665.60, according to Сoinmarketcap. It was trading at $10,800 just a week ago. In South Korea, it traded with premiums of around 20%, where previously they hadn’t exceeded 5-10%. Bitcoin has proven to all that it’s able to overcome gravity. Its exponential rise in value, however, isn’t simply due to the impending arrival of institutional ...

The FxPro Analyst Team

Forex: Bitcoin Nears $10K. What’s Next?

Bitcoin price is getting closer and closer to $10K, trading at approximately $9,715. By last summer’s end, big businesses were seen to gain an even greater interest in Bitcoin, likely entering the market on September 15, when the cryptocurrency lost 40%, dropping to $2,990. Since then, any scepticism surrounding Bitcoin, comparing it to the tulip mania and the dot-com bubble, has mostly died out, with media nowadays releasing exceptional forecasts about the bright future of cryptocurrencies, ...

Alexander Kuptsikevich

Forex: U.S. Growth Demand More Important Than OPEC’s Crude Oil Reductions

Crude reached higher highs in the first ten days of November than it had in more than two years, then experiencing a correction of roughly 5%. After that, both Brent and WTI went into recovery mode. Yet, while the European oil benchmark recovered half the correction to reach $63 per barrel approx., the U.S. benchmark has moved beyond previous peaks, rising to 58.37 since last Tuesday. The bulk of oil in Europe and Asia comes from the members of “OPEC Plus”, including Russia and nearly a dozen ...

The FxPro Analyst Team

Forex: SegWit2x HardFork suspended, Bitcoin surges to $7999 before crashing by more than $1,000

As of November 9, Bitcoin is trading above $7,100. Once theSegWit2x fork was suspended, the price of Bitcoin surged to $7,999 on cryptocurrency exchange Bitfinex, before losing more than $1,000 in a matter of minutes. It is worth noting that the recent rally was supported by altcoin sell-off as traders exchanged them with Bitcoin, hoping for “free coins” after the hardfork. Meanwhile, markets seemed to have too high hopes about getting something for free as developers wanted to implement only ...

Alexander Kuptsikevich

Forex: Potential scenarios for Friday’s employment report

The markets are now waiting for Friday’s employment data for the month of October. September’s numbers were shockingly poor, with NFP coming in at -33K, and analysts are suggesting that the labour market will now be attempting to make up for the previous negative figures. Though the least predictable, the employment report is deeply significant and often leads to violent market reaction. Let’s look at several potential scenarios regarding tomorrow’s releases. The average market forecast for ...

The FxPro Analyst Team

Forex: Why is Bitcoin so sensitive to news and speculation?

Since the beginning of January 2017, the price of Bitcoin has increased by an astonishing 650%, up from $1,000 to $6,500. Ethereum entered the scene at $10, now trading at around $300. In all, cryptocurrencies have experienced exponential growth this year, with Ethereum marking a 3,000% rally year to date. Naturally, this has attracted worldwide attention, made particularly evident during the summer months of 2017 when big investors entered the market. It seems clear that the cryptocurrency ...

The FxPro Analyst Team

Forex: Bitcoin Hard Fork Cools Down Investor Demand

A few days ago, Bitcoin underwent another hard fork which resulted in the creation of Bitcoin Gold (BTG). Investors had high hopes for this new cryptocurrency, as community support and exchanges seemed to guarantee receipt of equal amounts of BTG. For this same reason, Bitcoin attracted high demand from investors of all levels, pushing the cryptocurrency above $6,170. Bitcoin price shortly fell to $5,470, now recovering at $5,939, with the former price now emerging as having been a good ...