feedback
Alexander Kuptsikevich

FxPro Forex Analysis: Downward Trend Prevails on the Crypto Market

Bitcoin has fallen below $8,000. The major altcoins followed the “benchmark” cryptocurrency, losing between 5% and 10% of their value. Throughout the year, each time market participants have expected growth, the trend has reversed into a decline. Bitcoin in particular, after having experienced growth for 3 weeks and attempted to move above $10,000, is now in a downward trend that has already lasted for two weeks. The positive start to the week was partially attributed to Consensus, the world’s ...

Alexander Kuptsikevich

FxPro Forex Analysis: Cryptocurrencies Have a Positive Start to the Week

Cryptocurrencies have had a positive start to the week, after last week’s correction when the market cap dropped to $367 bln. The sell-off was provoked by BTC moves from Mt. Gox cold wallets and investigations into the largest crypto exchanges in South Korea. Currently, the total market cap sits at around the $400bln mark, with Bitcoin trading near $8,700 (+4%) over the latest 24 hours. Zcash (ZEC) has become a new bright spot in the market, increasing by more than 50% to $372 over the last 24 ...

Alexander Kuptsikevich

FxPro Forex Analysis: Crypto Investors Uncertain if Bitcoin Will Rally Further

The cryptocurrency market is attempting to recover after a major sell-off which started on Wednesday. Bitcoin has risen 5% and is currently trading around $9,350. The sell-off began at around the $9,700 mark. In 24 hours, BTC had fallen by 10% to $8,700. The leading altcoins also followed suit. It’s worth noting that the sell-off began once Bitcoin had started to approach $10,000. It seems that a large portion of investors had rushed to lock-in their profits once the price had reached the ...

Alexander Kuptsikevich

FxPro Forex Analysis: The Crypto Market Rally May Lead to Profit Taking

The total crypto market cap has exceeded the $400 billion mark for the first time since March 8. This time, the major altcoins are leading the growth, while Bitcoin has demonstrated a moderate dynamic. It is likely that recent optimism has inspired investors, who see altcoins as a cheaper and more comfortable way to invest in the market. Nevertheless, the market’s growth has once again become speculative in nature, with no fundamental basis. According to CoinMarketCap, BTC has gained over 5% in ...

Alexander Kuptsikevich

FxPro Forex Analysis: The Cryptocurrency Spring Rally Has Begun

Since the end of last week, the whole market has been in the ‘green zone’. According to CoinMarketCap, Bitcoin has gained 3.5% in the last 24 hours and reached the $8,500 mark. Today, it easily surpassed $8,300, which had been considered an important level of resistance. Since the beginning of the week, the crypto market had shown signs of bullishly breaking out of its sideways trend. This was interrupted by news about the launch of an investigation into major cryptocurrency exchanges ...

Alexander Kuptsikevich

FxPro Forex Analysis: The Demand for Risk is Encountering Problems

The recovery of the stock market and the overall demand for risk are having a bumpy ride. Yesterday, the stocks of U.S. companies were put under pressure by weak quarterly reports. The poor performance of tech stocks has dragged down the whole market, however, weak reports from traditional goods manufacturers, Procter & Gamble and Phillip Morris, are adding to the uncertainty. The markets had been expecting strong earnings and forecasts, however, these seem hard to come by. It is worth noting ...

Alexander Kuptsikevich

FxPro Forex Analysis: Saudi Arabia ‘Pumps’ Oil Prices Higher

The main focus today is on oil prices, which, since late 2014, have continued to rise to new heights. Saudi Arabia announced their desire to see the prices reach $80-100 per barrel on Wednesday, causing oil to jump $2 (3%) to $73.40. Saudi Arabia’s comments were seen as an intent to continue limiting oil production, although oil stores are currently close to the 5-year average. It’s worth mentioning that Saudi Arabia plans to sell a 5% stake in their largest oil company, Saudi Aramco, and ...

Alexander Kuptsikevich

FxPro Forex Analysis: Online Rebellion Against Government Control

Telegram founder Pavel Durov has refused to hand over encryption keys to Russian authorities, showing his willingness to sacrifice the app’s Russian users to maintain the integrity of the project as a whole. This move will likely lead to further growth for the app’s user base and an increase in value for the platform’s coin, TON. In some cases, attempts to avoid state control are made for less romantic reasons. Former offshore banks have rebranded into offshore crypto exchanges. Recently, ...

Alexander Kuptsikevich

FxPro Forex Analysis: Trump Imposing Sanctions to Corner New Markets

The U.S. continues to increase its oil production and, over the past year, has grown its daily supply by over 16%, constantly setting new records. The U.S. is already the second largest producer and continues to increase its drilling activity. In light of this, it is essential for the U.S. to find new markets to export to, and Europe seems to be a promising option. Currently, Russia is a key player in this market. As such, economic sanctions appear to be a very effective tool for challenging ...