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1  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: April 14, 2021, 03:47:29 PM
CryptoNews


- The new episode of the cult animated series "The Simpsons" broadcast on of April 11 predicted an increase in the value of the first cryptocurrency to infinity. This was noticed by Reddit users. A running line with quotes of financial assets appears on the TV screen in the 18th episode of season 32. The bitcoin exchange rate is marked with a green sign of infinity.
Recall that in February 2020, the creators of "The Simpsons" released an episode called Frinkcoin, dedicated to cryptocurrencies and how blockchain technology works. They also mentioned bitcoin in a joint episode with The Griffins and in the mobile game The Simpsons: Tapped Out.

- The emulator of a vintage computer Commodore-64 produced in 1982 was used to mine cryptocurrency. The developer Maciej Vitkoviak has created the C64 Bitcoin Miner software specifically for this PC. He demonstrated a 0.2 H/s hashrate on the VICE emulator. “It will take 337 years and 10 months for the C64 to mine a block,” the developer said.

- Ethereum may surpass Bitcoin in terms of profitability in 2021, and the price of the coin may rise to $10,000. Such a forecast was given by the famous crypto trader and host of the podcast The Wolf of All Streets Scott Melker.
He revealed In an interview with Cointelegraph that he has largely switched his strategy from the first cryptocurrency to this leading altcoin in recent months. “It reminds me of investing in the Internet in the early 1990s,” Melker said. “I don’t understand why this is crazy. In fact, this is just an increase of less than five times the current price. Bitcoin almost tripled last year."

- Analysts of the Kraken exchange admitted the possibility of growth of bitcoin to $90,000. This is stated in the company's latest monthly state-of-the-industry report. Experts noted that March was one of the most successful months for the largest cryptocurrencies in terms of capitalization.
Based on historical data, analysts allowed Bitcoin to rise by 50% in April. Considering that the month began at $59,000, the target of the movement could be the $90,000 mark. However, before the rally resumes, the first cryptocurrency can expect a correction of at least $10,000.
As for Ethereum, Kraken predicts it could rise to $15,000. Exchange analysts noted the important, in their opinion, support and resistance levels for this altcoin: $1,462 and $2,695. Plotting historical patterns of ETH price movement on logarithmic curves, they concluded that the peak of the bullish cycle is still far away. The experts are confident that the price of Ethereum could rise by 700% from the levels of the end of March and reach a high at $15,238.

- The fortune of the bitcoin creator under the pseudonym Satoshi Nakamoto, who, according to various estimates, owns from 750 thousand to 1.1 million BTC coins, has exceeded $60 billion. Thanks to this, according to the Forbes rating, Nakamoto got into the top 20 richest people in the world.
Nakamoto's fortune assessment does not include bitcoin forks belonging to him. For example, the creator of the first cryptocurrency could have over $650 million in Bitcoin Cash, $250 million in Bitcoin SV, $1.1 million in Bitcoin Gold, and a host of other forks.

- According to the analytical service Santiment, large investors, or the so-called "whales", continue to accumulate bitcoins. Analysts found that they have accumulated up to 2.2% of the total cryptocurrency market supply so far, reaching an 11-month high. A similar situation was observed at the beginning of May last year.
These are investors who control 100,000 or more BTC, according to the Santiment report. At the same time, the volume of cryptocurrency on addresses containing from 1,000 to 100,000 coins, on the contrary, decreased from 42.5% to 39.5%.

- An Italian citizen was arrested on suspicion of trying to pay with cryptocurrency for the murder of his ex-girlfriend. According to Europol, the suspect found a website on the darknet that offers such services. After there appeared a contractor ready to fulfill the order, the suspect transferred about 10 thousand euros in bitcoins to him. However, Europol and the Italian police uncovered the criminal plan in time.
Europol also tracked the cryptocurrency transfer. To this end, law enforcement agencies turned to the crypto exchange, where the suspect's virtual currency was originally purchased, and it provided the authorities with the requested information. The name of the exchange is not disclosed.

- Los Angeles-based real estate agency Caruso has partnered with the Gemini cryptocurrency exchange to accept bitcoins in residential and commercial transactions. This fact is interesting because Caruso's long list of tenants includes Tesla CEO Elon Musk. He sells his cars at the large Americana at Brand shopping and entertainment center in Glendale.
Even though Caruso has never discussed bitcoin payments with the well-known entrepreneur, it is believed that Musk may be the very first tenant to pay rent in cryptocurrency. “I didn't tell Elon about this, but he might be a trailblazer who pays rent in bitcoin,” said the company's founder and CEO Rick Caruso.

- Bitcoin miners are accumulating coins for the first time since December 2020, thus containing the downward pressure on the market. The number of bitcoins in miners' wallets has increased to 1.806 million BTC over the past two weeks.
“Miners have switched to accumulating liquid assets, because they have enough cash reserves to support their activities, which they raised during the rise of bitcoin from $20,000 to $40,000. Or, most of them are holding coins in anticipation of further appreciation,” Flex Young, CEO of Hong Kong-based Babel Finance, told CoinDesk.
Miners receive income in cryptocurrency, but they pay fiat to service providers, so they are forced to sell part of the mined coins. The volumes of such sales depend on current market conditions and expectations of the bitcoin price behavior.
Starting from March 31, miners started accumulating BTC reserves again. Whereas for four months before that, they reduced their positions, converting bitcoins to fiat. The largest volumes of cryptocurrency, from 17,000 to 24,000 BTC per day, were sold by them in January 2021.

- CNBC TV presenter Jim Kramer would switch entirely to cryptocurrency, and it would take him several years. He has already reached the point of demanding that his salary be paid in bitcoins. Apparently, he was influenced by the news that the MicroStrategy company began to pay remuneration in bitcoins to its members of the Board of Directors. Kramer named MicroStrategy a leader in Bitcoin adoption in his Mad Money program, predicting that other companies would follow suit.


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

https://nordfx.com/
2  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: April 13, 2021, 05:32:02 PM
New Mobile App from NordFX




The specialists of the NordFX brokerage company have developed a new convenient mobile app that allows you to conduct full-fledged trading in the financial markets without having to switch to other platforms.

The app supports 12 languages and contains all the functionality traders need, which they can use in just a few clicks. The trading platform integrates indicators and other tools for advanced technical analysis. In addition, the application includes an economic calendar, as well as options for opening and verifying an account, depositing and withdrawing funds.

The line of trading instruments includes 33 Forex currency pairs, gold, silver, Crude and Brent oil, as well as the main cryptocurrency pairs: Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD) and Litecoin (LTC/USD).

For all the inquiries, please contact Support support@nordfx.com

You can download the NordFX mobile app from Google Play

as well as from the App Store


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


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

https://nordfx.com/
3  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: April 11, 2021, 04:47:00 PM
Forex Forecast and Cryptocurrencies Forecast for April 12 - 16, 2021


First, a review of last week’s events:

- EUR/USD. The U.S. economy continues to recover vigorously. The S&P500 index renews another high, the value of American Treasuries is growing and, accordingly, their yield is falling. And the dollar is falling along with it.
However, the market, for the most part, is reacting not to real numbers for the last week and a half, but to forecasts and promises. As already mentioned, the US economy is growing. But the head of the US Federal Reserve said that although the March statistics on the labor market is impressive, it is not enough to even start discussions on the curtailment of fiscal stimulus programs. According to Jerome Powell, this requires several more months of such positive results.
His colleagues agree with him. So, the head of the Federal Reserve Bank of San Francisco Mary Daly noted that the US economy is still very far from the recovery, and the Fed will wait until this happens. And the head of the Federal Reserve Bank of St. Louis, James Bullard, said that one should not even think about changes in the US monetary policy until the end of the COVID-19 pandemic.
But as for the other side of the Atlantic Ocean, there are more and more vigorous statements of EU officials about the imminent termination of lockdowns and the unprecedented growth of the Eurozone economy. And in spite of the calls of German Chancellor Angela Merkel for tighter isolation, optimistic data on industrial production in this country are cited.
As a result of all these verbal battles, the scales tipped to the side of the euro. As predicted by most experts, the EUR/USD pair went up, rising to the height of 1.1930 on Thursday, April 08. This was followed by a correction and a finish at 1.1900;

- GBP/USD. Problems after the UK's exit from the EU, an impressive trade deficit and the country's budget deficit continue to put pressure on the pound. And even the dollar, which has weakened against other currencies, does not allow the GBP/USD pair to return to growth. We see how the British currency, step by step, is losing ground starting from February 24. Last week the pair was able to grow only to 1.3920. This was followed by a reversal and, as predicted by graphical analysis, it dropped to the level of 1.3670. As for the final chord, it sounded at the height of 1.3710;

- USD/JPY. It has been repeatedly written that the rate of this pair is greatly influenced by the yield of US Treasuries. Fluctuations in the yield of these securities allowed the yen to straighten its shoulders a little and win back 165 points from the dollar in the first four days of the week, dropping to 109.00. However, then the strength of the bears dried up, and the pair ended the five-day period at the level of 109.65;

- cryptocurrencies. The overwhelming majority of analysts (70%) gave a negative forecast for the BTC/USD pair last week, expecting it to move towards $50,000. This is exactly what happened, and the fall of bitcoin on Wednesday to $55,540 made many talk about the beginning of new "crypto freezes". Fortunately for investors, the panic was premature and the pair returned to the $58,000 zone on Friday. However, the question of why the main cryptocurrency failed to gain a foothold above $60,000 remains open.
One of the versions is a drop in demand from large institutional investors. But, as is clear from the statistics of crypto exchanges, "whales" continue to withdraw cryptocurrency to cold wallets. And therefore, they expect its growth to continue.
The miners' actions are also indicative of their bullish sentiment. They switched to hoarding coins in April, creating a shortage in the market. The movement of cryptocurrency from miners to crypto exchanges has decreased by almost 40%: from 450 bitcoins per day in March to 275 in the first decade of April. Naturally, such a shortage of supply should push the price up. Suffice it to recall that the BTC/USD pair rose from $19,000 to $30,000 in a similar situation the previous time.
In the meantime, just as bitcoin cannot take the $60,000 height by storm, the total market capitalization cannot step over the $2.0 trillion bar either, once approaching it, once moving away. At the time of writing this review, on Friday April 09, it has once again come close to this important psychological level, reaching a volume of $1.990 billion. As for the Crypto Fear & Greed Index, it has changed only by 4 points during the week, having fallen from 74 to 70.
It should be noted that the share of bitcoin in the total crypto market capitalization is continuously decreasing: if it was 62% on March 14, then it was only 55% on April 09. This is undoubtedly due to the lack of positive price dynamics for BTC/USD. Speculators are switching to other instruments, which allow making serious profits at the moment. And here the ripple should be noted.
When the ripple fell to $0.170 at the very end of December 2020 due to the claims of the Securities and Exchange Commission (SEC), many gave up on it. However, on April 7, at the high, the price of this altcoin reached $1.108, showing a 550% gain since the the year started. Its capitalization also grew during this time, rising from 1.40% to 2.42%. The reason for this rally, especially in the last week, was the news that ripple's lawyers have gained access to the SEC documents and are making serious progress in litigation with this powerful regulator.


As for the forecast for the coming week, summarizing the views 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 is said in the first part of the review, the statements of the US Federal Reserve leaders, the growth of the stock market and the fall in the yield of US Treasury bonds are important factors. But they are limited in time. So is the falling dollar. And at some point, everything can turn 180 degrees. The higher the US stock indices soar - Nasdaq, Dow Jones, S&P500, the more frequent talk about “soap bubbles” that are about to burst. Investors borrowed a record $814 billion secured by their own portfolios by the end of February 2021. And this is 49% more than a year ago. A similar situation resulted in the collapse of the stock market and in the economic crisis in 2008.
But until this happens, the attractiveness of the dollar continues to decline, which plays into the hands of low-income currencies and, first of all, the euro. The dollar is not facilitated by the confrontation between Democrats and Republicans in the US Senate over the scale of further fiscal stimulus either.
Of course, a way out of this political stalemate will be found, and there will be more clarity about the results of vaccinations and the speed of recovery of the US and Eurozone economies. But according to forecasts of 65% of experts, the EUR/USD pair will continue its growth in the coming week. This scenario is supported by 75% of oscillators and 85% of trend indicators on H4. The advantage of the “greens” is much weaker on D1, here it is only 65% of technical indicators that point to the growth of the pair. At the same time, 15% of oscillators are painted neutral gray, and 20% already give signals about the pair being overbought.
As for the graphical analysis, it shows movement in the 1.1835-1.1950 trading range on H4, the range is, of course, wider on D1: first, the pair goes down to the lower border in the 1.1700 zone, and then rises to the 1.2000 height. It should be noted that in the transition from weekly to monthly forecast, 55% of analysts vote for the decline of the pair to the horizon of 1.1700.
As for the events of the coming week, we should pay attention to inflation indicators and data on the US consumer market (due out on April 13, 15 and 16), Eurozone (April 12) and Germany (April 15) . Also of interest is the speech of the head of the US Federal Reserve Jerome Powell on Wednesday April 14;

- GBP/USD. At the moment, the absolute advantage for this pair is on the side of the bears. 85% of oscillators and 100% trend indicators on H4 are painted red. On D1 it is 85% and 80%, respectively. 65% of analysts also vote for the further fall of the pair. The nearest support is 1.3670, the target is a transition to the zone 1.3575-1.3610. Graphical analysis on D1 also draws the continuation of the downward trend. However, according to its forecast, the pair may rise to the resistance level of 1.3900 before heading south.
Even though the sell-off of the pound continues, many analysts note that the long-term uptrend, which began on March 20, 2020, has not been affected. And the fall of the last 6 weeks can be considered as a correction, after which the British currency may continue its growth. The pound will regain its attractiveness, especially if large capital that left it due to Brexit begins to return to the country. The pound is also supported by the successes of the early stages of vaccination against COVID-19. In this case, according to 70% of experts, the GBP/USD pair has many chances to regain its lost positions and return first to the 1.4000 zone, and then retest the February 24 high at 1.4240 before the end of spring;

- USD/JPY. Back in early March, the volumes of purchases of futures contracts for the yen exceeded sales. But the fast pace of the US economic recovery has changed everything. According to the Commodity Futures Trading Commission (CFTC), the number of short contracts on Japanese currency began to grow since mid-March, reaching record values since January 2019. 
At the moment, despite the confusion in the indicators' readings, the majority of experts (65%), supported by graphical analysis on H4, expect further weakening of the yen and the return of the USD/JPY pair, first to the level of 111.00, and then its rise another 100 points higher, to the level of 112.00.
The remaining 35% of analysts are looking south, expecting to see how the pair will test 108.40 support. Moreover, when moving to the monthly forecast, the number of bear supporters increases to 60%, and the target shifts to the zone 105.00-106.20.
As for the events of the coming week, one can note the speech of the head of the Bank of Japan Haruhiko Kuroda on Wednesday April 14, from which the market will wait for signals regarding the monetary policy of the regulator for the near future.  Recall that the Bank of Japan has not been able to decide how to respond to rising yields on US securities and what to do with its own. If the yield on 10-year US bonds and commodity prices continue to rise, and the regulator does not respond to this, it could hit the yen even harder. And it has already suffered quite tangible losses, having lost more about 700 points to the dollar over the past three months.

- cryptocurrencies. The news background of the past week was quite versatile. Thus, the investment bank Morgan Stanley has filed an application with the US Securities and Exchange Commission (SEC), according to which 12 funds of the bank will be able to invest in BTC. Each of the funds indicated in the application will be able to place up to 25% of the capital in the first cryptocurrency. And that's good for investors.
On the other hand, the billionaire and founder of PayPal, Peter Thiel, declared out of the sudden that bitcoin has become an instrument of China's policy and is increasingly hitting the dollar. That is why, according to Peter Thiel, the US government should attend to the regulation of this benchmark cryptocurrency. It should be noted that this businessman previously supported bitcoin, and now one needs to understand who or what made him change his mind. And if the wind blows from the White House, this is a very negative signal for the cryptocurrency market.
As for the forecasts, experts of another large world bank, JPMorgan, called the long-term target for the bitcoin rate of $130,000, having lowered the bar from $146,000 due to the fall in gold quotes. Analysts made such a forecast based on the calculation of the theoretical capitalization of the first cryptocurrency in case of an influx of funds from the market of precious metals.
In general, the topic of comparing bitcoin with gold, for which cryptocurrency is becoming a digital alternative, sounds more and more often. Many bitcoin bulls in the expert environment say that BTC will be able to bypass gold in terms of capitalization in the future. In this case, the value of all bitcoins should grow 10 times and exceed the $11 trillion mark. And according to analysts at Ark Invest, that could happen within the next few years. "We believe that bitcoin is better than gold and it's safe to say that it will capture a gold market share or even more."
Billionaire and founder of the crypto bank Galaxy Digital Mike Novogratz agrees with the forecast of Ark Invest. He stated In a comment for CNBC that he was shocked by the pace of digital asset adoption. The investor also admitted his previous forecast of the price of the first cryptocurrency of $60,000 too conservative. “Bitcoin is on the inevitable path to reaching and exceeding the capitalization of gold,” said Novogratz.
Quite an astronomical forecast was given by the author of the book “Rich Dad, Poor Dad”, investor and entrepreneur Robert Kiyosaki. He suggested in a recent interview that the first cryptocurrency could reach a value of $1.2 million in the next five years. Kiyosaki first bought bitcoin last year after the pandemic effectively shackled the global economy. It was then trading at $9,000. “I wish I could buy it for 10 cents, like many people did, but I still look like a genius because today it costs about $55,000. I think that in another five years it will grow to $1.2 million,” the entrepreneur announced.
At the same time, even though Kiyosaki, opposite to Peter Thiel, has turned into a defender of bitcoin, he still prefers gold and silver for main investments, explaining this by the fact that the cryptocurrency is outside the regulatory field.
And finally, at the end of the review, another crypto life hack. This time, it's about how to make money without "mining", without buying or selling cryptocurrency. After all, it turns out that it is enough just to look into the future and register a promising Internet address in time in order to become a millionaire. So, domain name registrar GoDaddy put up Roger Ver's Bitcoin.com domain for sale for $100 million earlier last week. However, this time the deal fell through: upon discovering the ad, the owner declared that it was “100% fake" and demanded to remove the domain from sale. But this does not mean that you will not be able to earn a tidy sum at other addresses. After all, there are still so many promising cryptocurrencies in the world besides bitcoin.


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

https://nordfx.com/
4  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: April 09, 2021, 04:50:43 PM
Super Lottery: NordFX Gives Away 100,000 USD to Traders




The $100,000 Super Lottery was launched by the brokerage company NordFX among its clients on April 1. The name speaks for itself: 100 cash prizes of $500, $1,000, $2,500 and a super prize of $ 20,000 will be drawn by the year end.

It is quite easy to take part in the lottery and get a chance to win one or even several of these prizes. It is enough to have a Pro account in NordFX (and for those who do not have it - register and open a new one), top it up with $200 and... just trade.

Having made a trading turnover of only 2 lots in Forex currency pairs or gold (or 4 lots in silver), the trader will automatically receive a virtual lottery ticket. The number of lottery tickets for one participant is not limited. The more deposits and the greater the turnover, the more lottery tickets the participant will have, and the greater their chances of becoming a winner of the prize money.

Unlike trader contests, there is no need for a lottery participant to show exceptional trading results. In this case, both experienced professionals and beginners have equal chances of winning. And they can either use the received prize money in further trading, or take it out without any restrictions.

70 prizes of $500 each, 20 prizes of $1,000 each, 10 prizes of $2,500 and 1 super prize of $20,000 will be drawn. The draws will be held on July 1, October 1, 2021 and January 3, 2022. For more details, visit the NordFX website.

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


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

https://nordfx.com/
5  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: April 07, 2021, 02:36:02 PM
CryptoNews


- Attackers demanded 5 BTC (about $275,000), threatening to detonate bombs in two business centers of St. Petersburg, the second largest city in Russia. According to local media reports, the Fort Tower and Renaissance Park business centers received ransom threats by e-mail. However, no explosive devices were found after people were evacuated and buildings were inspected. The police are looking for extortionists.

- Investor and TV star Kevin O'Leary said in a comment to CNBC that he would only buy eco-friendly digital gold. According to him, within a year or two, the crypto community will divide bitcoin into two types: "clean", that is, mined using renewable energy, and "dirty" or "bloody" - mined using "dirty energy."
O'Leary added that environmental concerns were coming to the fore with regard to digital gold. “I don’t buy coins if I don’t know where and when they were mined. Not from China. No “bloody” coins,” the investor said. However, he did not specify where he buys "clean" bitcoin and how he determines its origin.
According to analysts' calculations, the annual emissions into the atmosphere from cryptocurrency mining are about 60 million tons of carbon dioxide. In other words, $1 billion worth of bitcoin mining is equivalent to annual carbon emissions from 1.2 million cars.

- According to CoinDesk, the Sacramento Kings NBA basketball club will provide an opportunity for the team and support staff to get paid in the first cryptocurrency. This was stated by its owner. The club plans to give official confirmation this week. The publication believes that such a move will secure the Kings a status as the most crypto-friendly professional sports team in the United States.

- Experts of the JPMorgan bank called the rate of $130,000 as the long-term goal for the first cryptocurrency, having lowered the bar from $146,000 due to the fall in gold quotes, Business Insider reports.
The bank's analysts made such a forecast based on the calculation of the theoretical capitalization of the first cryptocurrency in the event of an inflow of funds from the gold market, for which the cryptocurrency is becoming a digital alternative. According to JPMorgan, the precious metal has outflowed $20 billion since mid-October, while companies have poured $7 billion in bitcoin.
The long-term target for the cryptocurrency rate is based on the idea that its volatility and the volatility of gold will converge. But the bank recalled that this is a long-term process: the realized three-month asset volatility is 86% and 16%, respectively so far.

- The famous American rapper Snoop Dogg said that he is a big bitcoin supporter. “I believe in bitcoin and the technology that makes global interaction possible,” he said.
The rapper has already become familiar with the volatility of the crypto market and understands that the fall in price does not reflect the initial value of the asset. Price is not the main determinant of the reliability of the leading cryptocurrency for him. “I don't follow the coin rate too much, because I've been on the market for a long time and got used to rate jumps. I am sure that bitcoin is for a long time, ”says Snoop Dogg. “The future is happening right before our eyes. I don't think bitcoin is just a consequence of the pandemic. It only adds fuel to the fire. "

- Many "bitcoin bulls" in the expert environment say that the largest digital currency will be able to bypass gold in terms of capitalization in the future. In this case, the value of all bitcoins should grow 10 times and exceed the $11 trillion mark. The authors of the study conducted by Ark Invest, stress that this could happen over the next few years. "We believe that bitcoin is better than gold and it's safe to say that it will capture gold market share or even more."
Commenting on a recent speech by the US Treasury Secretary in which she criticized bitcoin, Ark Invest experts say Janet Yellen used outdated arguments when she said that criminals were using cryptocurrency for money laundering.

- Billionaire and founder of the crypto bank Galaxy Digital Mike Novogratz agrees with the forecast of Ark Invest. He stated In a comment for CNBC that he was shocked by the pace of digital asset adoption. The investor also admitted his previous forecast of the price of the first cryptocurrency of $60,000 too conservative. “Bitcoin is on the inevitable path to reaching and exceeding the capitalization of gold,” said Novogratz.
According to CompaniesMarketCap, the total market value of gold at the time of writing is $10.8 trillion. According to CoinGecko, the capitalization of the first cryptocurrency is around $1.1 trillion.

- Domain name registrar GoDaddy put up Roger Ver's Bitcoin.com domain for sale for $100 million earlier this week. Upon discovering the ad, the owner said it was “100% fake” and contacted GoDaddy with a demand to remove the domain from sale. And that was done. At the same time, there were no official comments and explanations from GoDaddy representatives.

- Rich Dad Poor Dad author, investor and entrepreneur Robert Kiyosaki has suggested in a recent interview that bitcoin could reach a value of $1.2 million over the next five years. Kiyosaki first bought the cryptocurrency last year when it was trading at $9,000 after the pandemic actually shackled the global economy. “I wish I could buy it for 10 cents, like many people did, but I still look like a genius because today it costs about $55,000. I think that in another five years it will grow to $1.2 million,” the entrepreneur announced.
At the same time, even though Kiyosaki has turned into a defender of bitcoin, he still prefers gold and silver for main investments, explaining this by the fact that the cryptocurrency is outside the regulatory field.

- Large investment bank Morgan Stanley has filed an application with the US Securities and Exchange Commission (SEC), according to which 12 funds of the bank will be able to invest in BTC. Each of the funds indicated in the application will be able to place up to 25% of the capital in the first cryptocurrency. “Certain funds can indirectly invest in bitcoin through fiat-settled bitcoin futures or through investments in the Grayscale Bitcoin Trust (GBTC). The investments will go through a subsidiary registered in the Cayman Islands. At the same time, the fund may not have investments in bitcoin at a certain point,” the application says.

- Billionaire Mark Cuban revealed that he has concentrated 60% of his cryptocurrency investment portfolio in bitcoin, 30% in Ethereum, and 10% in other digital assets. Cuban called bitcoin the best alternative to gold, and Ethereum - the most similar to a real currency. “I wish I had bought Ethereum earlier. I started doing this only four years ago,” added Cuban, and compared the growth of Ethereum to the development of the Internet in the late 90s.
According to him, it is this altcoin that matches his ideas about the correct form of money due to its decentralized economy based on smart contracts.


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

https://nordfx.com/
6  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: April 06, 2021, 05:10:52 PM
March 2021 Results: Three Most Successful NordFX Traders Earned Over $100,000




NordFX Brokerage company has summed up the performance of its clients' trade transactions in March. If earlier traders from China, India, Sri Lanka and Vietnam waged an active struggle for leadership, all three steps of the podium were occupied by representatives of China last month.

The highest monthly profit, $66.377, was received by a client, account No. 1179XXX, mainly on transactions with gold (XAU/USD) and bitcoin (BTC/USD).

The second place in the rating of the most successful traders was taken by the owner of account No.1545XXX, who earned $26,142 on transactions with the main cryptocurrency.

And, finally, in third place is a trader, account No.1530XXX, with a profit of $16.977, among whose main trading instruments are the pairs XAU/USD and GBP/USD.

The passive investment services:
- in CopyTrading, the largest increase of 507% in March was shown by the VN.NO1 signal, however, its maximum drawdown was quite impressive, 63.65%. In the “middle” category, we can note the RED DOG signal: a profit of 34.86% with a drawdown of 23.25%. And, finally, among the most non-aggressive signals, Follow Trend attracts attention, it showed quite a good growth of 15.25% in March with a drawdown of only 4.18%.
- in the PAMM service, one should note the manager under the nickname GoodCandles5000: the growth for the month on his account was 26.77%, the maximum drawdown was 9.88%.

Among the IB partners, NordFX TOP-3 is as follows:
- the largest commission, $12,878, was accrued to a partner from Sri Lanka, account No.1483xxx;
- next is a partner from India, account No.1527xxx, who received $6,593;
- and, finally, a partner from India, account No.1491xxx, who received $4,855 as a reward, closes the top three.


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


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7  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: April 04, 2021, 01:04:11 PM
Forex Forecast and Cryptocurrencies Forecast for April 05 - 09, 2021


First, a review of last week’s events:

- EUR/USD. The U.S. economy continues to recover vigorously. This is evidenced by the impressive data from the labor market. Thus, the number of new jobs created outside the agricultural sector (NFP) has almost doubled compared to the previous period (growth from 468K to 916K) and, moreover, has exceeded the forecast (647K) by almost a third. The ISM Manufacturing PMI has risen from 60.8 to 64.7. Also, according to the ADP report, the employment rate in the private sector has increased from 176K to 517K. All this suggests that fiscal stimulation of the economy and the injection of money into it is working. But is it good for the dollar?
Of course, this scheme also includes yields on long-term US government bonds, as well as the prospects for monetary policy for the next few years. Investors are sensitive to statements by Fed Chairman Jerome Powell on the possibility of curtailing the quantitative easing (QE) program and raising the interest rate.
On the one hand, according to the statements of the management, the Federal Reserve System does not intend to raise interest rates until at least 2023. The Fed is not going to change other parameters of the quantitative easing (QE) program either, believing that injecting $1.9 trillion into the economy will be quite enough. But on the other hand, US President Joe Biden presented a massive $2.25 trillion infrastructure spending plan on Wednesday March 31, along with a financing scheme through tax increases. If, indeed, these funds arise not at the expense of the printing press, but at the expense of an increase in the tax load, this will mean the curtailment of QE, and will entail the flow of capital from the stock market to the government bond market.
But while this is all just planning, the market has frozen in anticipation, and the EUR/USD pair has moved into a sideways trend. As predicted by the majority of experts (70%), the dollar continued to strengthen at the beginning of last week, and the pair came close to 1.1700. But then, largely thanks to Biden's new plan, it turned around and went up. However, this rebound can hardly be called a trend change. The pair just returned to where it had been on March 25-30. It completed the trading week in the same zone, at the level of 1.1760;

- GBP/USD. In general, the chart of this pair was similar to the chart of EUR/USD, with only one fundamental difference. If the euro continues to retreat against the dollar, the British pound, albeit with difficulty, is trying to hold the defense. This time, the UK GDP growth for the fourth quarter of 2020 to 1.3%, as well as the revised upward index of business activity came to help it.
Let us remind that, when making a forecast for the previous week, 40% of experts voted for the strengthening of the dollar, 10% for the strengthening of the pound and 50% for the sideways trend. And in general, everyone was right. The pair both fell to 1.3705, and grew to 1.3850, and eventually finished only 40 points above the start. Having started the five-day week at 1.3790, it completed it at 1.3830;

- USD/JPY. Most analysts (60%) had expected this pair to consolidate above the 110.00 horizon. 100% of trend indicators and 75% of oscillators had agreed with this scenario. And it turned out to be absolutely true. The pair has been relentlessly moving north since January 6 and it renewed this year's high on Wednesday March 31, reaching 110.95.  The long-awaited correction to the south did not happen again, and the pair ended the trading session at 110.65;

- cryptocurrencies. Bitcoin is storming the $60,000 threshold again. At the time of writing, the maximum it has reached so far is $60,170. However, as soon as the benchmark cryptocurrency approaches this milestone, another wave of sales follows, causing a pullback. However, these ebbs are not large enough. And this suggests that there are fewer and fewer people willing to part with bitcoin at this level. Investors are waiting for a leap up. And these small corrections just give them the opportunity to replenish their stock of tokens on the pullback.
A huge number of bitcoins are flowing into cold wallets, which indicates that the "whales" institutions are set for the further growth of BTC and see it as an asset for long-term investments. The news background also contributes to this. “We see Square, Tesla, MicroStrategy and others buying bitcoin,” says ARK Invest CEO Catherine Wood. - Now cryptocurrencies determine part of the business of these companies. And the announcement of the sale of Tesla for BTC will allow you to do business in any region without wasting time and money on exchanging fiat currencies." The major payment system, PayPal, has also joined the crypto race. it intends to provide its customers with the opportunity to pay in bitcoins in all stores that are partners of the company, and there are approximately 29 million of them around the world. According to Reuters, in addition to the main cryptocurrency, PayPal also plans to introduce support for payments in Bitcoin Cash, Ethereum and Litecoin.
We can talk about the gradual adoption of cryptocurrencies in various sectors of the economy at the moment. However, large investors are still very worried about the attitude of regulators to this type of assets. And, first and foremost, the US authorities. According to a number of analysts, while bitcoin and the main altcoins act as a store of value and speculation, the American regulator turns a blind eye to it. But as soon as bitcoin begins to compete with the dollar as a means of payment and international payments even a little, the attitude of the authorities can change dramatically. And it is not at all excluded that the initiatives of PayPal and other payment systems will cause a negative reaction from them. An example of this is Facebook's Libra, which was strangled in the bud.
In the meantime, as mentioned, the main cryptocurrency is trying to gain a foothold above $60,000, and the total market capitalization is trying to exceed the most important psychological level of $2.0 trillion. It reached a volume of $1.993 billion on the first day of April, but it rolled back to the level of $1.936 billion on Friday. It is noteworthy that the dominance of bitcoin in the market has slightly decreased over the past 7 days: from 59.56% to 57.88%. Moreover, its share in the crypto market literally fell to 55.50% on April 1. The reason for this is the closure of long positions when the BTC/USD pair reached the horizon of $60,000.
The Crypto Fear & Greed Index has started to rise again. It rose by 20 points over the week, from 54 to 74, and came close to the strongly overbought zone.


As for the forecast for the coming week, summarizing the views 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. Europe is preparing for a new wave of coronavirus. The rate of vaccination, although growing, is slow. Only 16.5% of the EU population has received at least one injection so far, compared to 45.6% in the USA. The situation could be aggravated by another month of lockdowns. Coupled with the absence in the EU of a plan to stimulate an economy similar to the American one, it could provide additional support to the dollar and put pressure on the euro.
Analysts from Japanese bank Daiwa Securities note that dollars are now being bought not only by speculators but also by asset managers. And in their opinion, the USD DXY index will go up while the American economy improves and Treasury yields rise. This scenario is also supported by experts from Nordea Markets, according to whom the EUR/USD pair is expected to decline to the level of 1.1500.
On the other hand, excessive US stimulus measures could overheat the US economy. In addition, according to the WTO estimates, the surplus of dollars in the country will lead to an increase in demand for imports by 11.4%. Most of this demand will be met by exports from Asia and Europe. And if the countries of the Eurozone radically accelerate the rate of vaccination, then the preponderance will be on the side of the European currency.
It is clear that graphical analysis, 75% of oscillators and 95% of trend indicators on D1 are still colored red at the moment. However, the remaining 25% of the oscillators are already signaling that the pair is oversold. The picture is completely different On H4: about half of the indicators have switched to green.
As for the opinion of experts, the pair is expected to grow next week by 55% of them, however, when switching to the monthly forecast, their number grows to 65%. The bears' goals are 1.1700 and the low of November 2020 at 1.1600. The goals of the bulls are 1.1885 and 1.2000.
As for the events of the coming week, we can mention the publication of the ISM index of business activity in the services sector on Monday 05 April, the publication of the minutes of the US Fed's FOMS meeting on Wednesday 07 April and a speech of the head of the organization, Jerome Powell, on Thursday 08 April;

- GBP/USD. The British currency may continue to grow, as it did in the first two months of 2021. Especially so if there is a return to the country of major capital that fled from it due to Brexit. The pound is also supported by the successes of the early stages of vaccination against COVID-19. However, this may not be enough due to the problems after the UK exit from the EU, the impressive trade deficit and the country's budget deficit.
However, the majority of experts (65%) are quite optimistic about the future of the British currency at the moment. 15% predict its weakening, and the remaining 20% insist on a sideways trend.
The 1.3850 level can be designated as the support/resistance zone of the last eight weeks. It is the lateral movement along it that graphical analysis draws. On H4, the borders of the trading range look like 1.3755-1.3850. On D1, they are naturally much wider, 1.3670–1.4000.
85% of oscillators and 70% of trend indicators on D1 look north. Also, the green has an advantage among trend indicators on H4: those are 75%. But as for the oscillators, here 60% are painted in neutral gray, and 20% - in red and green;

- USD/JPY. It has been repeatedly written that the rate of this pair is greatly influenced by the yield of US Treasuries. However, the Bank of Japan has not been able to decide how to respond to rising yields on US securities and what to do with its own. If the yield on 10-year US bonds and commodity prices continue to rise, and the Japanese regulator does not respond to this, it could hit the yen hard. And it has already suffered quite tangible losses, having lost more than 800 points to the dollar over the past three months.
Currently 85% of the trend indicators on H4 and 100% on D1 are facing north. 60% of the oscillators on H4 and 65% on D1 are looking in the same direction, the rest signal that the pair is overbought.
And a very interesting and unexpected picture emerged during a survey of analysts. Giving a weekly forecast, 70% of them were in favor of a correction to the south and 30% - for a sideways trend. The number of votes cast for the growth of the pair is 0. Moreover, when switching to a monthly forecast, the number of bears' supporters grows to 90%. The graphical forecast on both timeframes also supports the bearish scenario. Support levels are 110.35, 109.85, 109.00 and 108.50. The nearest resistance level is 111.00, the targets of the bulls are 111.70 and 112.20;

- cryptocurrencies. As has been noted many times, the "whales" store large stocks of bitcoins in cold wallets. According to Glassnode, not only the volume of frozen crypto assets is growing, but also the number of such long-term investors. For example, the Norwegian billionaire Oystein Stray Spetalen changed his attitude towards bitcoin in just one day! Back on March 18, he actively demanded that the EU authorities ban the cryptocurrency. And a day later ... he became an investor in the Norwegian crypto-exchange Miraiex, stating that "when the facts change, I also change." Another Norwegian billionaire, Kjell Inge Rokke, who opened a special company to invest in bitcoin, may have caused this turnaround. "I can’t let him make money, but me not," Spetalen said.
So, will there be an opportunity to make money on bitcoin anytime soon? During the current cycle, the price of the cryptocurrency has risen by almost 500% since October 2020 and has updated highs above $60,000. Bitcoin rallied during the first two months of 2021 but ran into a hurdle in March. However, according to a number of experts, historical data indicate that after the March rollback bitcoin's growth may continue in April. “The season may be the determining factor. - Danny Scott, head of CoinCorner exchange, said in a conversation with Forbes. - April always stands out because it marks the end of the UK and US tax period. If we start from historical information, April may well end with an upswing."
So, the data shows that bitcoin has risen by an average of 51% in April over the past 10 years. If this scenario is repeated, its price may be around of $80,000 by the end of the month. There were only two negative months of April: in 2014 (minus 6%) and in 2015 (minus 4%). But both of these times happened on bearish cycles, and therefore it is worth taking into account the "current sentiment in the industry." “Now we are, by and large, experiencing a bullish period, and momentum is consistently forming every week,” said Scott. If we apply Fibonacci levels to the charts of the BTC/USD pair, then the next targets for it may be the levels of $73,000 and $92,000.
It is appropriate to quote here the opinion of the popular cryptocurrency analyst Willy Woo, who said that we will see the final stage of the explosive growth of the first cryptocurrency rate this year. But it will also be the last one for a three-year bull cycle. Now the bitcoin rate is at a local bottom and there is no point in selling your BTC reserves, Woo thinks. “You have to be crazy to sell right now. At the bottom, bitcoin is now being bought up in huge volumes,” the analyst noted, citing the statistics of the Coinbase cryptocurrency exchange as an example. It is surprising that with such optimism of individual crypto enthusiasts, 70% of analysts expect not growth, but, on the contrary, a fall in the BTC/USD pair to the $50,000 mark during April.
And in conclusion of the review, we present you the next "miracle device" in our traditional micro-heading "Crypto Life Hacks". A group of enthusiasts adapted the Game Boy portable game console for cryptocurrency mining. A video about this was released on a YouTube channel. Only its 4 MHz Sharp processor was used directly for mining. However, this invention is unlikely to make the craftsmen millionaires: tests have shown that with a bitcoin rate of about $55,000, they will need 50 thousand years to mine $1.


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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8  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 31, 2021, 05:35:41 PM
CryptoNews


- The capitalization of bitcoin for the first time exceeded $1 trillion in mid-February. And, although many analysts doubt the continued growth, ARK Invest CEO Catherine Wood believes that the first trillion in the capitalization of the first cryptocurrency is only the first step.
“If we calculate the potential demand for bitcoin, given the limited supply of coins, we get huge numbers in the long run. Now is just the beginning, and the capitalization of $1 trillion is nothing compared to the indicators of the future, "- said the CEO of ARK Invest at a conference held by the Chicago Board Options Exchange.
The demand for bitcoin from institutional investors who are trying to hedge inflation risks with cryptocurrencies has become one of the most important things. At the same time, they buy bitcoin for a very long time and increase the number of coins withdrawn from circulation.
“We see Square, Tesla, MicroStrategy and others buying bitcoin. Cryptocurrencies dominate the business of these companies now. And the announcement of the sale of Tesla for BTC will allow you to do business in any region without wasting time and money on exchanging fiat currencies." So, the current position is only the beginning of a bullish cycle, Catherine Wood emphasized.

- The PayPal payment system is going to provide its customers with the opportunity to pay in bitcoins in all stores that are partners of the company in the near future. We are talking about approximately 29 million retail outlets around the world. According to Reuters, in addition to the main cryptocurrency, PayPal also plans to introduce support for payments in Bitcoin Cash, Ethereum and Litecoin. Reuters noted that it is not about direct payment of goods and services with the help of bitcoin and other cryptocurrencies. All assets will be automatically converted to fiat in real time. This will make the option available in all countries where PayPal operates.
It will also be possible to transfer funds in real time to debit or credit cards. PayPal CEO Dan Shulman noted that there will be no fees for cryptocurrency transactions.

- Miami Mayor Francis Suarez wants to make the city the hub of bitcoin mining. According to him, 90% of miners extract the first cryptocurrency using "dirty energy" outside the United States. “This is the reason why bitcoin mining is considered a dirty business,” said Suarez.
According to him, the United States is ready to provide large bitcoin miners with access to renewable energy sources. He is confident that America should mine more digital gold, including for reasons of national security and environmental protection. “We have nuclear, which means clean energy, which is practically unlimited,” added Suarez.
According to the bitcoin energy consumption index Digiconomist, the indicator renewed its all-time high on March 28: the annual consumption reached 89.9 TWh.

- Enthusiasts used the Game Boy handheld gaming system to mine cryptocurrency. A video about this was released on a YouTube channel. Only the 4 MHz Sharp processor installed in this game console was used directly for mining. The system issued a 0.8 H/s hashrate. However, the result is not very encouraging: with a bitcoin rate of about $55,000, it will take 50 thousand years to mine $1.

- Latvian airBaltic was the first airline in the world to add bitcoin as a way to pay for its flights. According to the company, about 1000 customers have used this option since its integration. And now airBaltic has added the ability to buy tickets with Ethereum, Dogecoin, Bitcoin Cash, USD Coin, Binance Dollar, Gemini Dollar and Paxos. Airline prices are denominated in euros. The BitPay payment service automatically converts cryptocurrencies into fiat upon purchase.

- Popular cryptocurrency analyst Willy Woo said that we will see the final stage of the explosive growth of the first cryptocurrency this year, which will be the last for a three-year "bullish cycle". Now the bitcoin rate is at a local bottom and there is no point in selling your BTC reserves. On the contrary, this is a good time to develop the position.
“You have to be crazy to sell right now. At the bottom, bitcoin is now being bought up in huge volumes,” the analyst noted. In support of his statement that bitcoin is unlikely to decline anytime soon, Woo recalled large-scale transfers of BTC from the Coinbase cryptocurrency exchange to cold wallets - this suggests that the "whales" are buying and are waiting for the growth of the first cryptocurrency.

- Canadian mortgage broker Mogo with a capitalization of $435 million has launched a new program: the users will be able to receive cashback up to $2,460 when applying for a mortgage and use it to buy bitcoins. The program works both when applying for a new mortgage, and when refinancing an existing one.
“Given the volatility and speculative nature of bitcoin, more Canadians are looking for an opportunity to participate in BTC trading without investing their own money. Our program is designed for just such customers,” explained David Feller, CEO of Mogo.

- During the current cycle, the price of the cryptocurrency has risen by almost 500% since October and has updated highs above $60,000. Bitcoin rallied during the first two months of 2021 but ran into a hurdle in March. Historical data shows that bitcoin may continue to rise in April after the March rollback.
“The season may be the determining factor. - Danny Scott, head of CoinCorner exchange, said in a conversation with Forbes. - April always stands out because it marks the end of the UK and US tax period. If we start from historical information, April may well end with an upswing."
So, the data shows that bitcoin has risen by an average of 51% in April over the past 10 years. If this scenario is repeated, its price may be around of $80,000 by the end of the month.
There were only two negative months of April: in 2014 (minus 6%) and in 2015 (minus 4%). But both of these times happened on bearish cycles, and therefore it is worth taking into account the "current sentiment in the industry." “Now we are, by and large, experiencing a bullish period, and momentum is consistently forming every week,” said Scott.

- Norwegian billionaire and investor Oystein Stray Spetalen was actively criticizing bitcoin on March 18. “The only conclusion I came to in the course of my analysis is that bitcoin consumes as much electricity today as the whole of Norway. This is extremely harmful to the environment. - he was indignant at the DNB conference. - The authorities and the EU should immediately ban it. This is just nonsense. The existing payment systems are doing an excellent job with their tasks."
And now, just a few days later, Spetalen unexpectedly announced during an interview with Finansavisen that he had become an investor in the Norwegian crypto exchange Miraiex. “When facts change, so do I. I met with the founders of Miraiex and realized I was wrong. And when I read that Kjell Inge Rokke also joined bitcoin, the choice became obvious. I can’t allow him to make money, but me not,” Spetalen said.
For reference: Norwegian industrial tycoon and billionaire Kjell Inge Rokke opened a 500 million kroner ($ 58.6 million) Seetee company to invest in bitcoin in early March.


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9  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 28, 2021, 04:55:52 PM
Forex Forecast and Cryptocurrency Forecast for March 29-April 02, 2021


First, a review of last week’s events:

- EUR/USD. The dollar has periodically changed its status since the COVID-19 pandemic started, becoming either a safe haven currency or a risky asset for investors. For example, the US currency declined amid rising stock markets in November-December 2020. And since January, the dollar began to rise along with the S&P500. Now this index is in the area of its all-time high¬: 3.795. The DXY dollar index is also quoted in the area of annual highs: 92.72.   
The main reason for this volatility in the USD is the coronavirus situation and the US government's response to it. And the Fed threw in yet another riddle last week. Recall that it has become clear following the meeting of the Open Market Committee (FOMC) that the US Federal Reserve does not intend to raise interest rates until at least 2023. The Fed is not going to change other parameters of the quantitative easing (QE) program either. The bill signed by US President Joe Biden on a new $1.9 trillion package, according to the Fed, is quite a sufficient measure to stimulate the economy.
Just a few days later, Fed Chairman Jerome Powell announced that the regulator would gradually phase out $120 billion in monthly asset purchases from the moment the US economy almost fully recovers. And this, according to forecasts of the Fed itself could happen this summer.   
So, it turns out that the Government and the Senate may start a debate on winding down QE in the near future. But what about the information that the Biden Administration is now discussing another new package of fiscal stimulus for another $3.0 trillion?
The market "sided" with Jerome Powell this time, and the dollar continued to strengthen its positions. As predicted by the main forecast, which was voted for by the majority of analysts (65%), the EUR/USD pair went down, broke through the support at the 200-day SMA at 1.1825, and dropped to the 1.1760 horizon. This was followed by a slight rebound and a finish at 1.1790;
   
- GBP/USD. After a two-week stay in the sideways channel 1.3775-1.4000, the widespread strengthening dollar pulled the pair down. 55% of the experts were on the side of the bears, and they were right. The GBP/USD pair reached the local bottom at 1.3670 on Thursday, March 25, after which it returned to the lower border of the side channel, which turned from support to resistance. The last chord of the week sounded near it, at the level of 1.3790;   

- USD/JPY. The large-scale correction of the pair to the south never happened. Just 50 points were enough for the pair: having dropped to the level of 108.40, it turned around and went north again, following the strengthening dollar. The nearest target of the bulls was designated the height of 110.00, and the pair almost reached it: the week's high was fixed at 109.85. After that, it declined slightly and completed the working five days at 109.67;

- cryptocurrencies. The forecast for the past week, which was supported by the majority of experts, was not most optimistic for the bulls. It assumed the cessation of growth, the breakdown of bitcoin's lower boundary of the upward channel and its lateral movement in the range of $50,000-60,000. Unfortunately for investors, this is exactly what happened. The BTC/USD pair was at a height of $60,000 on March 20, but it found a local bottom at around $50,290 on Thursday March 25. And if the fall in bitcoin was 16%, then some of the top altcoins lost about 25% in price.
One of the few that won was ripple. Starting at $0.4652 seven days before, it peaked at $0.5955 on March 22, and was trading at $0.5450 by the evening of Friday March 26.
In general, as we predicted, the crypto market turned out to be overheated. Elon Musk's statement that bitcoins accepted as payment for Tesla cars would no longer be converted into dollars did not help it either. such information could have pushed the market high up not so long ago, but now it has given only a small short-term impulse.
According to Skybridge Capital CEO and former White House communications director Anthony Scaramucci, Tesla has about $1.5 billion in BTC at the moment. In total, Elon Musk owns little more than $5 billion in bitcoins through Tesla, SpaceX and personally. Perhaps this is no longer enough, and bitcoin needs more powerful locomotives than Tesla or MicroStrategy to move the market up.
But just a few words from regulators such as the US Fed are enough to push it down. The head of the US Federal Reserve System Jerome Powell questioned the qualities of the first cryptocurrency as a tool for savings and payments. During his speech at the virtual summit of the Bank for International Settlements, he noted the high volatility of digital assets, because of which, in his opinion, they are useless as a means of accumulation. “They are not backed by anything and are used more for speculation, so they are not particularly popular as a means of payment. Crypto assets are more likely to replace gold rather than the dollar,” Powell said.
The fall of BTC/USD was evidently affected by the fall of the S&P500, with which such a risk asset as “digital gold” correlates more and more. Traders have closed about 240,000 positions over the past few days, and the total capitalization of the crypto market has decreased from $1805 billion to $1,680 billion. The Crypto Fear & Greed Index moved from 71 to the central zone during the week and is at 54, which is flat. However, it is possible that this is only a lull before the storm.


As for the forecast for the coming week, summarizing the views 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. There are three main factors on the side of the American currency. The first is the successful vaccination of the population, including not only the results already achieved, but also the promise of President Biden to vaccinate 200 million US residents in the first 100 days of his stay in the White House. The second factor is the growing attractiveness of government bonds for foreign investors. And the third factor is the strength of the US economy, which is capable of lifting the economies of many other countries along with itself.
Europe has none of these factors. ECB Vice President Luis de Guindos did say that if vaccination in the Eurozone increases sharply by the summer, then Europe will face a sharp economic rise in Q3 and Q4. But these are just words.
At the moment, 70% of experts expect the dollar to continue strengthening and the EUR/USD pair to decline to the 1.1640-1.1700 zone. The ultimate target is the lows of September-November 2020 around 1.1600. This forecast is supported by 85% of trend indicators on H4 and 100% on D1, as well as 75% of oscillators on D1. The remaining 25% give signals that the pair is oversold.
Note that graphical analysis indicates that the euro may strengthen to 1.1880 in the coming days on both time frames, and the pair will go south only after that.
It should also be noted that when switching from a weekly to a monthly forecast, it is already 60% of analysts who vote for the growth of the EUR/USD pair. The targets are 1.2000 and 1.2200.
As for the events of the coming week, the release of data on the consumer markets in Germany on March 30 and the Eurozone on March 31 should be considered, as well as data on the US labor market on Wednesday March 31 (ADP report) and Friday April 02 (NFP). The speech of U.S. President Joe Biden on March 31 is also of interest. Markets will wait for signals from him regarding the steps that his administration will take to speed up the recovery of the country's economy;

- GBP/USD. We will receive UK GDP data for Q4 2020 on Wednesday, the last day of March. According to forecasts, the indicator will remain at the previous level of 1%. This is unlikely to add optimism to investors, but it will not upset them either. Therefore, 50% of them vote for the sideways trend, 40% for the strengthening of the dollar and only 10% for the strengthening of the British pound.
The technical analysis readings are as follows. On H4: 50% of the oscillators point to the north, 50% to the south. The trend indicators have a similar pattern. D1 is dominated by red. 65% of oscillators and 70% of trend indicators are colored red.
The nearest support levels are 1.3760, 1.3700, 1.3670, resistance levels are 1.3820, 1.3900, 1.3960. The targets are 1.4000 and 1.3600, respectively;

- USD/JPY. The pair reached a nine-month high at 109.85 last week, showing an impressive increase of almost 730 points over the past three months. This suggests that such traditional safe havens, which is the yen, are now of little interest to investors.
It is unlikely that the Tankan index will greatly affect the market sentiment. Published by the Bank of Japan, this index reflects general business conditions for large manufacturing companies. Tankan is an economic indicator of Japan, which is heavily dependent on export-oriented industry. The index value above 0 is positive for the yen, the value below 0, respectively, is a negative factor. However, according to forecasts, the value of the index, which will be published on Thursday April 01, will not be higher or lower, but equal to 0. This is a neutral value. Although, it is possible that it will support the Japanese currency somewhat, since Tankan was at minus 10 a quarter earlier. But it is likely to be only a small correction of the USD/JPY pair to the south.
Overall, most analysts (60%) remain bullish, expecting it to consolidate above the 110.00 horizon. The targets are 111.70 and 112.20. 100% of trend indicators and 75% of oscillators agree with this scenario. The remaining 25% give signals that the pair is overbought.   
The remaining 40% of experts, supported by graphic analysis, still hope for a long-awaited correction to the south. At the same time, when moving to monthly and quarterly forecasts, their number increases to 75%. Support levels in case the pair falls are 109.00, 108.60, 108.40, 106.65. The target is zone 106.00;

 - cryptocurrencies. It was noticed that not only plants start growing in the spring, but also bitcoin quotes. So, the BTC/USD pair rose in April by an average of 40% for the past three years. That is, this time it should be somewhere in the area of $70,000-75,000 by the end of April. Call options with expiration on April 30 show similar expectations. Those are now open at a price of $80,000 on derivative exchanges for a total of $240,000,000. Its active withdrawal to cold wallets continues in anticipation of a new growth cycle for the main cryptocurrency.
We have already talked more than once about the support package for the US economy in the amount of $1.9 trillion, of which, according to a study by Mizuho Securities, US citizens can spend $20-25 billion on the purchase of cryptocurrency. Following this anti-Covid package, another one is possible, in the amount of $3.0 trillion. And if adopted, it would also benefit the crypto market.
But all this is in the future. In the meantime, 60% of analysts believe that the BTC/USD pair will move along the Pivot Point of $50,000 for the next one or two weeks, fluctuating in the $46,500-56,000 range.
If we talk about a long-term forecast, according to the co-founder and former CEO of the BTCC cryptocurrency exchange Bobby Lee, the price of bitcoin can rise to $300,000, after which the growth will be replaced by a long-term decline. “Bitcoin bull market cycles occur every four years, and the current one is a big cycle. I think that bitcoin may rise to $100,000 this summer,” he said. However, after reaching an all-time high of $300,000, even a small price decrease will cause the bubble to collapse. Lee suggested that the new crypto winter will last between two and three years, and "investors should be prepared for the fact that the value of bitcoin could fall 80-90% from the historical peak."
And in conclusion of the review, we present you the next "miracle device" in our micro-heading "Crypto Life Hacks". WiseMining has recently introduced the Sato ASIC miner boiler that allows you to heat water by mining bitcoin. The intermediate coolant of the boiler is a special dielectric coolant. The liquid boils and evaporates in the ASIC cooling unit, the vapor rises into the tank coil and condenses, giving off heat to the water. Condensation flows back into the cooling unit of the miner. The developers provided the possibility of connecting this water heater to the main heating system of the room. Sato sales will begin as early as this April.
And one more "life hack", from the criminal world. According to a new study by analytical company Elliptic, the largest darknet market, Hydra, has a new way of exchanging cryptocurrency for fiat money. The vacuum-packed treasure with money is buried "5-20 cm underground", and the exact GPS coordinates are communicated to the buyer. This same method has long been used to sell illegal substances such as drugs. However, it is quite risky, as bandits sometimes track down customers and take away "the parcels". The consequences in this case are unpredictable.


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

https://nordfx.com/
10  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 25, 2021, 04:04:36 PM
Forex PAMM Service


It is possible to make money on currency fluctuations not only by trading. Forex PAMM services allow even those who have no previous trading experience to profit from changes in prices of foreign currency assets. On the other hand, for a professional trader, the Forex PAMM service is an opportunity to increase the size of their trading capital.

What is a PAMM account

PAMM account (from English PAMM - Percent Allocation Management Module) is a special investment account connected to the account of the managing trader. The essence of its work is simple. The trader makes an offer (offer of cooperation with clearly defined conditions), and investors contribute their funds to such an account. As a result of the trading conducted by the managing trader, the profits obtained are distributed among these parties in the proportion specified in the offer.

Key participants in PAMM services

There are three main parties involved in investing in PAMM services:
1. Managing trader. This is a broker's client who has a certain trading experience, confirmed by statistics.
2. Investor. A person who invests their funds into the account of a managing trader. Profits from the results of managing trader's work.
3. PAMM service. This is a broker, for example, NordFX, where trading and financial settlements between the manager and the investor are carried out.

It should be noted that one investor can simultaneously distribute their funds among several managers, forming an optimal investment portfolio, and one manager can accept funds from several investors at the same time.

PAMM services from a manager's point of view

Any trader can become a manager. To do this, you need to register with a broker, for example, NordFX, open a PAMM account, create an offer that will reflect the trader's commission, top up the account and start trading.

By and large, the activities of a manager are not much different from standard trading, but there is one exception. All trader's results will be recorded and displayed for all to see in the form of detailed statistics. It is necessary so that investors can assess the potential of the manager and decide how well the manager's trading strategies are suitable for the investment.

In the NordFX brokerage company, investors can evaluate a manager's trading by almost 50 different parameters that allow them to predict not only potential profit, but also possible risks. 

The managing trader will receive their share of the profit based on the results of their work. The rest will be distributed among all investors in the proportion specified in the offer. Moreover, all this is closely watched by the broker who provided the platform for the PAMM service, so that the trader does not have to calculate anything manually. There are no risks of conflict between the manager and investors due to miscalculations either.

What is the main advantage of a PAMM account from the manager's point of view? First of all, this is an opportunity to significantly increase your income from trading on the international Forex market. In addition to their own funds, the manager will work with investors' money and receive a percentage of the profit for this. The better the trading results, the higher the profit, the more investors will invest their funds in this manager.

As for the flaws, there are none. The manager conducts their usual trading, risks their own funds as usual  and does not bear any additional responsibility to investors for the results of trading. If successful, the number of investors who want to join the trader will grow. However, if the manager is trading at a loss, there will be no people willing to join their account.

PAMM accounts from an investor's point of view

Not only those who trade on their own, but also those who, for some reason, cannot engage in trading, can make money on the international Forex market. For example, you can't make money, you don't have talent, you don't want to study, you don't have time, and so on. But even in these cases, not all is lost.

The fact is that Forex offers almost limitless opportunities for earning money. It is one of the most liquid markets, with a daily turnover of trillions of US dollars, and many traders are keen to work in it. There is no supply of real assets here, and a trader can conclude a sell transaction with numerous financial instruments, even without possessing them.

For an investor, the Forex market is an opportunity to generate passive income by investing their funds in successful managers. Although this type of work cannot be called completely passive. The fact is that the investor will have to perform a certain amount of analytical work. But it will be connected not with how to predict market fluctuations in currencies, but with how to correctly choose a trader who will be entrusted with managing investor's funds.

What are the main advantages of investing in PAMM?

There are several of them:
1. Investing in Forex through PAMM is very convenient. You, as an investor, only need to choose a suitable manager and connect to their account.
2. Full automation. You don't have to deal with any calculations and settlements. The whole process is fully automated on the broker platform.
3. Control by the broker. The risks of cheating on the part of the trader are excluded. Everything is controlled by the service that provides PAMM investment services. For example, the manager does not have access to the funds that are on the investment accounts connected to him. He or she does not have the slightest opportunity to steal investors' funds and disappear with them in an unknown direction.
4. Investors are offered a convenient investment format. The trading history and comprehensive multifactorial statistics for all managing traders are available, which allows you to evaluate their trading strategies and make competent and weighted decisions.
5. Investing in Forex using PAMM is possible without knowledge of this market. As a depositor, you do not need to dive into the intricacies of trading. All this knowledge is necessary only for the manager.
6. Possibility to create your own investment portfolio. Forex PAMM accounts make it possible for you to diversify your investments by choosing several traders with different trading styles and ratios of profit and risk.

Choosing a manager or how to create your portfolio

Investing through PAMM can be quite profitable. However, there are moments that require effort from those who are going to engage in such activities. The fact is that Forex PAMM accounts, including those at the NordF X broker, are a variety of managers. And the choice is not only about finding the most acceptable conditions in terms of the offer. As mentioned above, investing in the Forex market requires a thorough analysis of the trader’s statistics.

There are three main types of trading strategies that managers use: aggressive, balanced, conservative.

Aggressive managers usually perform well in terms of profit, which can reach hundreds or thousands of percent. But, accordingly, they have quite high risks and large drawdowns. Such accounts are more likely than others to suffer serious losses and can even lead to a complete loss of capital.

Balanced managers show average income. But the risks are also relatively low. Such PAMM Forex accounts suffer losses much less often than aggressive ones.

Finally, conservative accounts show low income. At the same time, investments in Forex with such managers pose the lowest risks. Such traders usually conduct their trading activities the longest, which is reflected in their history on the “showcase” of the PAMM service.

Which option should one choose?

This is where we come to the need to create an investment portfolio. If you plan to invest using PAMM technologies, investments are not much different from buying stocks or other instruments. Classic portfolios usually include different asset categories, both low and high-risk.

When working with PAMM brokers, such as NordFX, your task is to assemble approximately the same portfolio where risks and potential returns are balanced. That is, you can invest in all the categories of managers described above, from aggressive to conservative. As a result, you will be able to get a fairly high profit with limited risks.

In terms of percentage, there are many guidelines. Some experts believe that it would be ideal to allocate only 20% of the total account to aggressive accounts, and divide the rest between balanced and conservative. However, this ratio is not a must. You can determine how aggressive your portfolio will be and make calculations based on it.

Some recommendations for choosing PAMM accounts

And now back to the question of how to choose the most suitable Forex PAMM account. There are several important criteria to pay attention to:
1. Age of the PAMM account. This indicator is particularly important for those investors who plan to invest in aggressive strategies. The longer such managers show positive results, the more reliable they are.
2. Average monthly expected return. This indicator is made up of average monthly profits for previous periods. This way you can see how effective the trader's strategy is and what style of trading they use.
3. Maximum drawdown. This is an equally important indicator that reflects the investor's risks. The higher the maximum drawdown, the more aggressive the trader's style is, and the higher the probability of losing your funds.

Important criteria for evaluation are:
1. The used leverage. Naturally, the higher it is, the greater the load on the deposit, the greater the risks.
2. Limiting risks by the managing trader. If they make up more than 30% of the deposit, the manager either does not use stop orders, or shifts or deletes them in the expectation of a price reversal.
3. The use of various aggressive wealth management systems. The most famous in this case is the Martingale, which is described in numerous textbooks and articles on Forex. Some managers indicate the use of this approach in their offers. But even if this is not the case, it is possible to understand that the manager applies a similar method by loading the deposit and increasing losses during periods of long recoilless trends in traded currency pairs.

When planning to invest in a PAMM service, it is necessary to take into account the ratio of risk and return. This applies to a greater extent to those who will compose their own investment portfolios of managers. Many experts say that the profitability should always be 2-3 times higher than the risk. If the profitability is equal to the risk, you may face such a situation when after a certain period of time, your total profit will be equal to ... 0.

When working with PAMM services, it is very important to establish in advance the conditions for exit, that is, the completion of work with one or another manager (at least temporarily). Various criteria can be used for this, including:
1. Exceeding the maximum drawdown. This is one of the important indicators of risk that you should focus on. It says that the trader has started to work even more aggressively and there are chances of receiving serious losses.
2. Change of the manager's trading system. This is not exactly a reason to part with the manager. Rather, it is a reason for analyzing and re-evaluating the terms of this cooperation and the volume of investments. Perhaps the trader's trading system has become more flexible and efficient than in the original version. In this case, the manager can not only remain in the portfolio, but also get a larger share of investments. However, if irrational, from your point of view, changes have been made to the system, it's time to think about stopping such cooperation.


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

https://nordfx.com/
11  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 24, 2021, 05:44:08 PM
CryptoNews


- The head of the now defunct brokerage firm Stratton Oakmont, Jordan Belfort, who was a prototype for the protagonist of the movie "The Wolf of Wall Street", admitted that he held the wrong position in relation to the bitcoin. This is reported by the Fortune magazine. Digital gold seemed to be the perfect tool for money laundering, and the former broker was sure that regulators would destroy it.
Belfort remembered predicting the fall of the first cryptocurrency on a TV show in 2017. At that time, the asset was rising to the $ 19,000 mark. “I turned out to be right then,” he recalls. “But I also thought bitcoin would go away forever. It was difficult to sell and easy to buy: these are all signs of manipulation." Now, according to Jordan Belfort, the coin could rise to $100,000.

- An anonymous user fell for a trick of scammers and sent 10 bitcoins to "Elon Musk". According to the BBC, the victim saw a link to Musk's alleged resource in the comments under one of his Twitter posts. After clicking on the link, he began a dialogue with the "manager." And the latter offered to invest a certain amount in "Musk's new project", which guaranteed huge profits.
The “manager” promised that funds would double and return to the owner about 20 minutes after the investment. But even such a short period did not embarrass the victim, and he transferred 10 bitcoins to the scammers (more than half a million dollars at the current exchange rate). And only after the “manager” stopped communicating and the funds were never returned, the “investor” realized that he had become a victim of criminals.

- The price of bitcoin can rise to $300,000, after which the growth will be replaced by a long-term decline. Bobby Lee, co-founder and former CEO of BTCC cryptocurrency exchange, said this in an interview with CNBC.
“Bitcoin bull market cycles occur every four years, and the current one is a big cycle. I think that bitcoin may rise to $100,000 this summer,” he said. However, after reaching an all-time high of $300,000, even a small price decrease will cause the bubble to collapse. Lee suggested that the new crypto winter will last between two and three years. “Investors should be prepared for the fact that the value of bitcoin could fall 80-90% from its historical peak,” the entrepreneur added.

- Entrepreneur John McAfee said that the US authorities are using the case against him to crack down on cryptocurrencies. “The charges against me are absolutely ridiculous. The US is using me as a scapegoat to crack down on all cryptocurrencies. This is a simple and understandable truth,” he wrote from prison.
McAfee's lawyer Andrew Gordon noted that the digital asset regulation is still an emerging area for the IRS and the US Department of Justice, and McAfee's criminal tax evasion case is one of the first to involve cryptocurrencies. "It marks a turning point in the enforcement of cryptocurrency reporting," Gordon said, adding that "Mr. McAfee is firm in his innocence and we stand ready to convince the US federal courts."

- The head of the US Federal Reserve System Jerome Powell questioned the qualities of the first cryptocurrency as a tool for savings and payments. During his speech at the virtual summit of the Bank for International Settlements, Powell noted the high volatility of digital assets, because of which, in his opinion, they are useless as a means of accumulation. “They are not backed by anything and are used more for speculation, so they are not particularly popular as a means of payment. Crypto assets are more likely to replace gold rather than the dollar,” Powell said.

- According to a new study by analytical company Elliptic, the largest darknet market, Hydra, has a new way of exchanging cryptocurrency for fiat money. The vacuum-packed treasure with money is buried "5-20 cm underground", and the exact GPS coordinates are communicated to the buyer. The service fee is high - about 7% of the exchanged amount.
“This is an interesting way to cash out, but it requires you to be in Russia. This is where many Hydra users are based,” said Elliptic CEO Tom Robinson.
This same method has long been used to sell illegal substances such as drugs. And, as analysts point out, this is a rather risky way, since bandits sometimes pursue customers who are digging up the treasure and take away the "parcels".

- Bitcoin has proven itself once again to be the best rescuer from the ineffective state financial system. The Turkish lira has fallen in relation to the US dollar by another 14% over the past week, as a result of which the residents of Turkey have begun to actively buy bitcoins. This is confirmed by the number of relevant requests in the Turkish segment of Google: it has almost doubled over the last weekend.

- WiseMining introduced the Sato boiler based on ASIC miners, which allows you to mine bitcoins and heat water. The intermediate coolant of the boiler is a special dielectric coolant. The liquid boils and evaporates in the ASIC cooling unit, the vapor rises into the tank coil and condenses, giving off heat to the water. Condensation flows back into the cooling unit of the miner.
The developers provided the possibility of connecting this water heater to the main heating system of the room. The Sato will go on sale in April 2021 and will cost $ 8,990.

- Skybridge Capital CEO and former White House communications director Anthony Scaramucci claims Elon Musk owns more than $5 billion in bitcoin through Tesla, SpaceX and personally.
Scaramucci gave his comment in the context of discussing the negative impact of mining on the environment. “No other living person has done more to protect the planet from climate change than Elon Musk. And the idea that he would invest in a “dirty asset” is absurd. The future of bitcoin mining is renewable energy sources,” he wrote.


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

https://nordfx.com/
12  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 22, 2021, 07:31:02 AM
Forex Forecast and Cryptocurrencies Forecast for March 22 - 26, 2021


First, a review of last week’s events:

- EUR/USD. It has become clear following the meeting of the Open Market Committee (FOMC) that the US Federal Reserve does not intend to raise interest rates until at least 2023. The Fed is not going to change other parameters of the quantitative easing (QE) program either, as long as inflation in the United States is growing, the manufacturing sector is recovering, and is pulling up the service sector. The bill signed by US President Joe Biden on a new $1.9 trillion package, according to the Fed, is quite a sufficient measure to stimulate the economy at this stage.
This position of the American regulator satisfied (or upset) both bulls and bears on the EUR/USD pair to the same extent, and as a result the pair spent the whole week in a narrow sideways channel with an amplitude of only 110 points, 1.1875-1.1985, and ended the trading session near the 1.1900 level;

- GBP/USD. As mentioned above, the US Fed refused to adjust its monetary policy. But the management of the Bank of England refused to do the same unanimously at its meeting on Thursday March 18. According to their statement, the bank "does not intend to tighten monetary policy at least until there is clear evidence of the use of untapped potential and the achievement of the 2 percent inflation target." So, one should not expect a rise in interest rates on the pound.
As a result of the identical decisions of both regulators, the GBP/USD pair continued to move sideways. Recall that last week, a third of experts voted for the growth of the pair, a third - for its fall, and the remaining third made a Solomon decision, announcing that the pair would move eastward, limiting the growth by the resistance at 1.4000, and the fall by the support at 1.3775. And this forecast turned out to be almost perfect. The fluctuations of the pair were limited to the range of 1.3800-1.4000. The last chord sounded at 1.3865;

- USD/JPY. The Japanese regulator also performed in a chorus with the US Federal Reserve and the Bank of England. The Bank of Japan left the interest rate at the same negative level, minus 0.1%, on Friday, March 19. At the same time, it will continue to buy back long-term bonds in order to maintain the yield on its 10-year securities at near zero. The statements of the Bank's management regarding the prospects for monetary policy were also consonant vague with the statements of their colleagues from the USA and Great Britain: “we are ready for changes as needed”. It is not specified what the criteria for such "necessity" are.
The result of such a “sluggish” week was the consolidation of the USD/JPY pair in an even narrower range than EUR/USD and GBP/USD. After holding in the channel 108.60-109.35 for all the five days, it finished at 108.87;

- cryptocurrencies. Bitcoin renewed its all-time high once again over the past week, reaching $61,670. This was followed by a quick rollback. However, the main currency managed to stay within the upward channel, having received support at its lower border, in the $53,300-53,900 zone. This correction attracted buyers waiting for a new opportunity for their purchases, and the BTC/USD pair is trading around $58,500 on the evening of Friday March 19.
One of the reasons that bitcoin has not yet been able to gain a foothold above $60,000, according to JPMorgan strategist Nikolaos Panigirtzoglou, was a decrease in institutional investment. Thus, the volume of retail investment in bitcoin in the first quarter of 2021 exceeded the investment of institutional investors, who reduced the volume of cryptocurrency purchases. Retail investors purchased over 187,000 BTC tokens, while institutional purchases amounted to approximately 172,684 BTC.
According to Compound Capital Advisors investment company calculations, bitcoin has become the most profitable investment in the last 10 years and has surpassed all asset classes by at least 10 times, providing an average annual return of 230%. The Nasdaq 100 came in second with an annualized return of 20%, followed by US stocks with a market capitalization of more than $10 billion with an annualized return of 14%. Also, studies have shown that gold has shown a meager return of 1.5% per annum since 2011, and five of the last 11 years have brought losses to this asset.
Since 2011, BTC's combined profit has been a whopping 20 million percent. 2013 was the most successful year for bitcoin as it grew by 5507%. In addition, it is important to note that BTC has shown an annualized loss in just two years of its history: it fell 58% in 2014 and 73% in 2018.
All these figures are impressive for some, and they are intimidating for others. For example, the head of the Visa payment giant agreed that cryptocurrencies could become widespread over the next 5 years. In addition to JPMorgan, the largest American bank Morgan Stanley has shown loyalty to digital assets, promising to provide its large clients with the opportunity to own bitcoin.
But Bank of America published the report "Little Dirty Secrets of Bitcoin" on March 17, in which it announced that this token is an exclusively speculative instrument. "Without rising prices, there is no reason to own this cryptocurrency," the report says. "The asset is impractical either as a store of value, or as a method of payment, and 95% of Bitcoin belongs to the owners of 2.4% of wallets." The bankers recalled the negative impact of BTC on the environment due to high energy costs for mining as well as the low transaction speed. Although, one can guess that it is not this that worries them most of all, but the prospect of losing a significant share of income due to the development of the crypto market.
Note that the total capitalization of the crypto market over the last week increased from $1756 billion to $1805 billion. However, it could not break through the important psychological level of $2 trillion: the maximum value of $1851 billion was reached on March 14, after which the indicators fell slightly. As for the Crypto Fear & Greed Index, it practically did not change over the week: 71 now versus 70 seven days ago.


As for the forecast for the coming week, summarizing the views 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. In general, both experts and indicators have a bearish mood. Despite the US Federal Reserve's refusal to raise interest rates until 2023, investors are still guided by a favorable economic scenario. Mass vaccinations and direct payments to US citizens should support the dollar, even though some of that $380 bn will be invested in riskier assets. 
Most analysts (65%) expect the dollar to strengthen in the coming week. In their opinion, the EUR/USD pair should retest the support of 1.1835. The bearish forecast is also supported by 65% of oscillators and 85% of trend indicators on time frames H4 and D1. Recall that, from the point of view of technical analysis, the support level here is still the 200-day SMA at 1.1825. In case of its breakthrough, the next targets will be 1.1800 and 1.1745. The ultimate target is the lows of September-November 2020 around 1.1600.
As for the bulls, the resistance levels here are 1.1980, 1.2025, 1.2060 and 1.2100. And if the bullish forecast is supported by only 35% of experts now, the balance of forces changes in a mirror-like manner when switching to the forecast for April: it is already 65% who support the growth of the pair and only 35% are for its fall.
Graphic analysis also points to the pair falling. And also, not immediately. At first, according to its readings, having fought off the zone 1.1880-1.1900, the pair should rise to the level of 1.1980, and only then go south.
As for the events of the coming week, Jerome Powell's numerous speeches on March 22, 23 and 24 could be noted. However, the head of the FRS is unlikely to say anything new: everything important was already said last week. Therefore, we advise you to pay attention to the data on business activity of Markit of Germany and the Eurozone, which will be announced on Wednesday March 24. As for the American statistics, data on orders for durable goods will be published on the same day, and annual data on GDP of the United States the next day.

- GBP/USD. The head of the Bank of England Andrew Bailey is also scheduled to speak on March 23 and 25. And just like in the case of his colleague from overseas, Jerome Powell, no surprises from his speeches should be expected. Of interest may be: data on the UK labour market March 23, and data on business activity and consumer market of this country on March 25.
It is clear that the technical indicators on the GBP/USD pair on H4 are looking to the south. However, they reflect the trend of only the last two days of the past week. As for the indicators on D1, there is complete discord: the two-week sideways trend is getting visible. Graphical analysis on both time frames also indicates a sideways trend in the trading range of a week ago - 1.3775-1.4000. There is no serious preponderance in the forecasts of experts: 45% side with the bulls, 55% side with the bears. The targets are 1.4240 and 1.3600, respectively;

- USD/JPY. The further strengthening of the dollar and the growth of the pair is indicated by graphical analysis at both time intervals, H4 and D1. 85% of trend indicators and 65% of oscillators on D1 agree with it. The rest of the oscillators are either in the overbought zone or are already colored red.
As for the experts, 55% of them expect a correction to the south, although they agree that it may be short-term. However, with the transition to monthly and quarterly forecasts, the number of supporters of the fall of the pair increases to 75%.
The nearest target of the bulls is 109.50-110.00. Support levels in case the pair falls are 108.35, 106.65, 106.10 and 105.70;

 - cryptocurrencies. The struggle between those who believe in the bright future of cryptocurrency and those who predict its destruction continues. This is especially noticeable among large institutional investors. And their opinion depends largely on the opinion of regulators.
The position of regulators in different countries is very different. For example, the Indian authorities have a bill nearly ready which prohibits operations with cryptocurrencies and introduces criminal and administrative liability for miners and traders. And the US head of the Fed Jerome Powell, on the contrary, does not deny the combination of traditional finance and cryptocurrencies. Although, of course, most likely he is pinning his hopes on the digital currency of the American Central Bank (CDBC).
Note that the governments of many large countries are considering the possibility of issuing digital counterparts of their own fiat currencies. And, most likely, they do not need competitors in the form of bitcoin and top altcoins at all. So, it is possible that we will see real battles between the public and private sectors in the near future, not only at national, but also at international platforms.
In the meantime, central banks continue to print unsecured money to support their economies in the fight against the COVID-19 pandemic. And according to the TV presenter and founder of the investment company Heisenberg Capital Max Kaiser, this will lead to a "hyperinflationary collapse" of national currencies and the growth of bitcoin to $220,000 already this year. Moreover, Kaiser believes that the advantages of bitcoin in global payments will render banks useless. As he stated, “$5 trillion a day in the foreign exchange market could be completely replaced by bitcoin.”
At the moment, according to analysts at JPMorgan, the main focus is on the growth of retail investment associated with the next portion of payments to US citizens as part of the economic stimulus program. According to a study by Mizuho Securities, of the $380 billion that US citizens will receive in the form of economic assistance, about 10% can be spent on the purchase of two types of assets: bitcoin and stocks. The study found that two out of five Americans who expect to receive checks in the coming days intend to use some of these funds for investment. According to Dan Dolev, Managing Director of Mizuho Securities, bitcoin is expected to account for 60% of the total investment, which could add about 3% to the market capitalization of the cryptocurrency.
Of course, 3% is a small figure. Perhaps that is why only 35% of experts believe that the main cryptocurrency will be able to steadily gain a foothold above $60,000 by the end of spring and even rise to $75,000. The majority of analysts (65%) predict bitcoin a sideways movement in the $50,000-60,000 channel.


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

https://th.nordfx.com
13  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 17, 2021, 04:41:29 PM
CryptoNews


- Co-founder of Oaktree Capital investment company Howard Marks, with a fortune of $2.1 billion, has dramatically changed his attitude towards bitcoin. Marks called crypto currencies "unfounded fads" in 2017 The investor said that there are many things in the world that have no intrinsic value, but people want to possess them. And bitcoin is one of those things. Now the billionaire has admitted that those words were an “knee-jerk reaction” to innovation about which he had not yet had a clear idea.
Now the head of Oaktree Capital realized that bitcoin really has a lot of potential and even described the advantages of the first cryptocurrency. The most important advantage of Bitcoin according to Marks is the ability to trade it 24 hours a day while maintaining confidentiality. In addition, bitcoin has a limited supply of 21 million coins, which increases demand for them and contributes to a rise in prices. The same cannot be said for the US dollar and other fiat currencies, which are printed in huge quantities by central banks, Marks noted.

- A 38-year-old hairdresser was arrested in Romania on suspicion of stealing about $620,000 in cryptocurrency. Law enforcers found out that the detainee not only worked as a hairdresser, but also was engaged in the creation of malicious software. He hacked a large money transfer operator with its help and transferred $620 thousand to his own account in several dozen transactions.

- "Hyperinflationary collapse" of national currencies will lead to the growth of bitcoin to $220,000 this year. This is the opinion of Max Kaiser, a former trader, TV presenter and founder of the investment company Heisenberg Capital. Among other things, Kaiser is a longtime supporter of bitcoin and is known for his criticism of American economic and political models. Last summer, when the cryptocurrency was trading for about $10 thousand, he predicted its growth to $100 thousand. And, as it turned out, this was not the most daring prediction of the TV presenter.
Kaiser believes that the advantages of bitcoin in global payments make banks useless. “$5 trillion a day in the foreign exchange market can be completely replaced by bitcoin. We have realized that now it is possible to send currency from country to country instantly and practically free of charge," Kaiser said.

- Digital currencies have reached the world of sports. US fans of the Oakland Athletics California baseball team can now pay for private lodges in bitcoin. The 2021 Home Team Six-Seater Lodge Pass can be purchased for $64,800 or 1 BTC. Given the fact that at the time of writing the review, bitcoin is trading at around $55,000, it is more profitable to pay for a ticket in cryptocurrency.
The president of the club said in a comment to Sportico that the management of Oakland Athletics took such a step due to the growing popularity of cryptocurrency in California. “It is also a kind of check to see if we want to do this in other areas of our business,” he said.

- The Indian authorities will consider a bill prohibiting operations with cryptocurrencies and introducing criminal and administrative liability for miners and traders. This is reported by Reuters with reference to an unnamed high-ranking official.
The document instructs citizens to liquidate their digital assets within six months. After this period, it is proposed to levy fines from the owners. In the future, prison terms are provided for the possession, release, production, trading and transfer of crypto assets. The official refused to disclose the amount of the fines and the terms of imprisonment. However, according to him, the discussion of the document is at the final stage.
There is no official data, but according to industry estimates, about 8 million investors in India own digital assets totaling $1.4 billion at the moment.

- The author of the famous book Rich Dad Poor Dad Robert Kiyosaki has called to buy gold and bitcoin. He made this statement after the decision of the US government to allocate another $1.9 trillion to support the economy.  The economist does not exclude that the dollar will be in a state of devaluation after such large-scale injections, as a result of which many investors will begin to switch to digital assets.
At the end of last year, the author of the bestselling book stated that the cost of bitcoin would soon reach $50 thousand. And it happened about a month later. A year earlier, Kiyosaki predicted that the US currency would face serious problems amid the pandemic. As a result, the dollar did accelerate the drawdown, and many stock market indices fell to lows.

- According to JPMorgan, the volume of retail investment in bitcoin in the first quarter of 2021 exceeded the investment of institutional investors, who reduced the volume of cryptocurrency purchases. Thus, retail investors purchased over 187,000 BTC tokens, while institutional purchases amounted to approximately 172,684 BTC.
According to JPMorgan strategist Nikolaos Panigirtzoglou, the decline in institutional investment may be one of the reasons bitcoin has not been able to gain a foothold above $60,000 so far. All the attention is focused on the growth of retail investment now, especially given the new round of direct payments to US citizens as part of the economic stimulus program.

- According to a study by Mizuho Securities, of the $380 billion that US citizens will receive in the form of economic assistance, about 10% can be spent on the purchase of two types of assets: bitcoin and stocks. The study found that two out of five Americans who expect to receive checks in the coming days intend to use some of these funds for investment. According to Dan Dolev, Managing Director of Mizuho Securities, bitcoin is expected to account for 60% of the total investment, which could add about 3% to the market capitalization of the cryptocurrency.

- Bitcoin has become the most profitable investment in the last 10 years and surpassed all asset classes by at least 10 times, providing an average annual return of 230%. Charlie Bilello, founder and CEO of Compound Capital Advisors wrote about this achievement.
The Nasdaq 100 came in second with an annualized return of 20%, followed by US stocks with a market capitalization of more than $10 billion with an annualized return of 14%.
Also, studies have shown that gold has shown a meager return of 1.5% per annum since 2011, and five of the last 11 years have brought losses to this asset. The precious metal has dropped 8.5% since early 2021, according to Gold Price, much to the chagrin of an implacable bitcoin critic and gold investor, President of Euro Pacific Capital, Peter Schiff.
Since 2011, BTC's combined profit has been a whopping 20 million percent. 2013 was the most successful year for bitcoin as it grew by 5507%. In addition, it is important to note that BTC has shown an annualized loss in just two years of its history: it fell 58% in 2014 and 73% in 2018.

- Spencer Schiff has decided to move his entire portfolio to bitcoin. His father, the aforementioned Peter Schiff, shared this with his Twitter readers. He expressed concern about the manipulation of fragile minds during a bull rally in the cryptocurrency market.
The famous bitcoin critic clarified that his son sold the remaining silver to buy the first cryptocurrency. “My son went for broke the last time bitcoin dropped below $50,000. 100% of his portfolio is now in Bitcoin. If my son has been so brainwashed, imagine how vulnerable most children are. He will "hodl" bitcoin indefinitely or go broke. "
The crypto community has responded positively to the complaints of the "golden beetle", expressing confidence that investing in bitcoin will make Schiff's son richer than his father. “At least someone in your family will increase their wealth this year,” wrote Anthony Pompliano, co-founder of Morgan Creek Digital.


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

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14  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 14, 2021, 01:09:21 PM
Forex Forecast and Cryptocurrencies Forecast for March 15-19, 2021


First, a review of last week’s events:

- EUR/USD. Recall that   the head of the Fed Jerome Powell literally brought down the American stock markets with his speech on February 4. Powell stayed indifferent to the surge in US Treasury yields, which closed at an annual high. At the same time, he hinted at the possibility of premature tightening of monetary policy.
And although the head of the Fed stressed that the economy is far from overheating, and he does not yet see the need to raise the interest rate, the market has had a hint of a possible change in monetary policy. In response, the Treasury yields rushed up with the dollar, and the stock market rolled down. The S&P500 lost over 120 points and the Dow Jones Industrial Average lost over 300 points.
And then, everything changed on Tuesday March 09. Strong growth in technology stocks, positive statistics from the labor market, growth in household assets and a bill signed by US President Joe Biden on a new stimulus package for $1.9 trillion pushed the American stock market up. The S&P500 index not only fully recovered from losses, but also updated its historical high, reaching the mark of 3.960. As for long-term treasuries, their profitability, on the contrary, has stabilized. And this despite the fact that the volume of submitted applications exceeded the volume of the issue by 2.38 times, and foreign investors purchased about 20% of securities of the total volume of $38 billion.
The EUR/USD pair reached a height of 1.1990 on Thursday March 11 due to these factors. However, it failed to reach the 1.2000 level. The fall of the pair and the weakening of the euro was facilitated by the statement of the ECB management on the increase in the rate of buying bonds under the PEPP (Pandemic Emergency Purchase Program). But it turned out to be not convincing enough, and nothing was said about scaling up the PEPP. As a result, the fall of the pair was insignificant, and it ended the week at the level of 1.1950;   

- GBP/USD. More and more experts are wondering if the pound has passed its high on February 24. Is it time to consolidate with the dollar? The British currency has shown an impressive growth of 2830 points against its American “colleague” (from 1.1410 to 1.4240) starting from the third decade of March 2020. And we have been observing the sideways movement of the GBP/USD pair along the Pivot Point of 1.3900 for the last two weeks. The upper border of the trading range is drawn quite clearly: this is the resistance at 1.4000. Two support levels can be considered as the lower one: the nearest one - 1.3850 and the next one - 1.3775.
The GBP/USD chart of the last week is very similar to the EUR/USD chart. This suggests that both the pound and the euro are not so much independent players in the market now as hostages of the US Federal Reserve's monetary policy and rates on US government bonds. Having started the five-day week at 1.3840, the pair was moving within the above range for the whole week, and set the last chord at 1.3925;
 
- USD/JPY. The yen has passed one milestone after another in recent weeks, and the USD/JPY pair reached the eight-month highs. Many traders are afraid to open both long and short positions in such a situation. On the one hand, the pair was already overbought, and on the other, it could still fly further upward by inertia. This is what happened in fact: it first rose to the level of 109.25, then a correction to 108.35 followed, and a new rise to the horizon of 109.00, where the pair ended the working week; 

- cryptocurrencies. Bitcoin peaked at $58,340 on February 21, after which it pulled back to $43,160, shrinking by 26%. According to Material Indicators, this decline was used by whales and institutions to buy assets from small investors. For example, the number of orders for the purchase of BTC in the amount from $0.1 million to $1 million reached record values on the Binance crypto exchange. And now, twenty days later, on March 12, Bitcoin broke the $58,000 bar again. However, at the time of writing the review, It could not update the historical high, stopping at $58,240
The BTC/USD pair rose last week amid the rise in the US stock market. Although, most likely, this is only a formal reason, and not a real reason for the activation of the bulls. It was clear that they would definitely make an attempt to rise above $60,000. And the only question was when it would happen.
According to CryptoQuant, the demand for bitcoins continues to grow, and their number on exchanges has fallen to a two-year low. As Bloomberg experts point out in their February report, bitcoin is becoming an increasingly popular asset among a wide variety of investors and is gradually replacing gold from their portfolios. According to the authors of the report, the reduction in the range of price fluctuations signals that the main cryptocurrency has actually become an alternative to traditional investment assets.
The overall capitalization of the crypto market is also committed to new heights, along with bitcoin. It grew from $1444 billion to $1756 billion over the week. And now the volume of $2 trillion will become an important psychological level for it.
Interestingly, despite the weekly growth of the BTC/USD pair by 20%, the Crypto Fear & Greed Index, on the contrary, fell from 77 to 70, which may indicate the general bullish mood of the market.
And another interesting observation. Bitcoin's market dominance has declined from 70.4% to 61.4% since early 2021. The indicators of altcoins from the TOP-10 have also gone down or remained at the same levels. But the total capitalization of smaller tokens has risen from 10.3% to 14.4%. It is unlikely that these coins can arouse the interest of large investors. Therefore, such statistics can only indicate that players have begun to use them more actively for short-term speculation.


As for the forecast for the coming week, summarizing the views 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 A meeting of the US Federal Reserve will take place on March 16-17. We are waiting for the Summary of Economic Forecasts from the Open Market Committee (FOMC), the decision on the interest rate, commentary on monetary policy and a press conference by the Fed management following the meeting. The interest rate is likely to remain unchanged at 0.25%. Therefore, the regulator's forecasts will be of particular interest. High expectations will once again highlight the gap between the pace of economic recovery in the US and the Eurozone. Investors will also be concerned about the possibility of tightening monetary policy and the attitude of the Fed management to changes in government bond yields. Consolidation of 10-year yields in the 1.5-1.6% range will help the stock market and push the EUR/USD pair above 1.2000.
So far, the advantage is on the side of the dollar. 70% of experts, supported by graphical analysis, 85% of oscillators and 80% of trend indicators on D1, expect the pair to drop to the 1.1800-1.1850 zone. Support here is still the 200-day SMA at 1.1826. The nearest support is 1.1900.
An alternative view is held by 30% of analysts, supported by graphical analysis on H4. As for the technical indicators on this time frame, their readings are still confusing. Note that when switching from a weekly to a monthly forecast, the number of experts supporting bulls increases to 60%. Resistance levels are 1.2025, 1.2060, 1.2170, 1.2200 and 1.2270;

- GBP/USD. In addition to the meeting of the US Fed, a meeting of the Bank of England will take place on Thursday March 18. It is likely that its results will not affect investors as much as those of their peers on the other side of the Atlantic. However, information on the course of the British economic recovery and its prospects will certainly be given. The market will also be concerned about what is going on in relations with the European Union after Brexit.
The opinions of experts are divided equally at the moment. A third of them, together with graphical analysis on H4, believe that the pair will hold within the 1.3775-1.4000 trading range. Another third, supported by graphical analysis on D1, expects a rise to the February 24 high of 1.4240. And finally, the remaining third is waiting for the pair to fall to the 1.3600 zone;

- USD/JPY. It should become clear in the coming week whether the Japanese currency will stop its decline, and the USD/JPY pair - its rapid rise. There are three determinant factors: the yield of American bonds, the US Federal Reserve meeting and the meeting of the Bank of Japan on Friday, March 19, at which it should determine its policy for the near future.
The rise in US bond yields is pushing the yen down, and the Japanese regulator is expected to react to this catastrophic collapse. Whether the BOJ will insist on controlling the yield curve is open for now.
It should be noted that the last fall in the yen and the growth of USD/JPY on March 12 took place at increased volumes. This indicates that the interest of major players in the continuation of the uptrend of the pair has still not dried up. The trend can be reversed down by either the consolidation of the yield on US securities, or an active sale of risky assets.
But at the time of this writing, 55% of experts expect that the pair will still be able to rise to the 109.50-110.00 zone. 20% are in favor of sideways movement and 25% are for the fall of the pair. Almost 100% of the trend indicators on both H4 and D1 are painted red. Among the oscillators on H4, there are 80% of those, but on D1, 35% are already giving signals that the pair is overbought, which indicates an imminent possible downward correction. In the transition from a weekly to a monthly forecast, 80% of analysts are already expecting the pair to decline and return to the 105.00 zone,. Support levels are 108.35, 106.65, 106.10 and 105.70;

 - cryptocurrencies. Recall that in early March, the head of the crypto bank Galaxy Digital Mike Novogratz sharply changed the forecast for the BTC rate for the end of 2021.  “It feels like,” said the banker, “we’ll stay for a bit between $42,000 and $60,000, and then see the next big jump to $100,000.
The Bloomberg team is also positive about the further rate of the main cryptocurrency. "After the coin broke above $50,000, it got the opportunity to test higher values. Demand for this asset is increasing, and its macroeconomic indicators are improving,” they say in their February report. According to Bloomberg analysts, bitcoin will be able to reach $100,000 this year, and its value will also continue to rise in the long term.
So how long will bitcoin hang out, in Mike Novogratz's words, between $42,000 and $60,000? Or are we on the eve of the big jump?
A number of experts are pessimistic. As the reason, they point to miners who are buying more and more video cards on new chips, which leads to higher prices and a shortage of such cards on the market. This situation is somewhat reminiscent of the end of December 2017 - January 2018, when the mining boom ended with a market collapse, the destruction of many miners and the onset of a crypto winter. There may not be a new winter this time, experts say, but strong frosts are not entirely out of the question.
In the longer term, electricity costs for mining will also hinder the growth of digital assets. They are constantly growing, and this process consumes energy comparable to that of a country like the Netherlands already. At some point, it will require the energy of the whole world to generate just one unit. And this, according to futurologists from Singularity University, will become an insurmountable obstacle for the crypto market.
However, if there are bear pessimists, then there will certainly be bull optimists. So, according to the head of ARK Investment Cathie Wood, the price of bitcoin is most correlated with real estate prices  at the moment. But in the future, she believes, bitcoin will become similar to low-risk instruments like bonds and will enter the recommended portfolio of investors. “I think the first cryptocurrency will behave like fixed income markets,” Wood said to CNBC. “We have survived a 40-year bond bull market. And we won't be surprised if this new asset class becomes part of the investment portfolio. Perhaps it will be 60% stocks, 20% bonds and 20% cryptocurrency.”
The forecast, according to which the bitcoin rate may reach $1 million or more in the next 10 years, was announced by the CEO of the Kraken crypto exchange Jesse Powell. “Right now we are only guessing, but if you value bitcoin in dollars, then you must understand that its value tends to infinity", he said. In a dialogue with Bloomberg reporters, the head of Kraken also said that bitcoin could eventually replace all major fiat currencies that are not backed by gold and other precious metals. However, he agreed that there is a risk of sharp market fluctuations, and that prices could "rise or fall by 50% any day." Therefore, according to Powell, when investing in bitcoin, it is necessary to be ready to keep it in your portfolio for at least five years.


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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15  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 12, 2021, 07:47:05 AM
February 2021 Results: NordFX Traders Name Gold and Bitcoin as Leaders Again


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

The first line in the rating of the most successful traders has been taken once again by a client from Vietnam, account No. 1416XXX, who received a profit of USD 29,880 on trades, most of which were carried out in pairs with gold (XAU/USD) and bitcoin (BTC/USD). The same trader was in the lead a month ago with an income of 83.598 USD obtained on transactions with the same two trading instruments.

The second place has been taken by a client from China, account No. 1536XXX. The client earned 23,640 USD in February, and their earnings were also based on operations with gold.

But the trader who took the third step of the podium (account No. 1503XXX) used a variety of trading instruments (GBP/AUD, AUD/NZD, EUR/CAD, EUR/AUD, CAD/CHF and AUD/USD), and achieved no less impressive success. Their profit for February was USD 20,716.

According to the results of the shortest month of the year, a competition unfolded among signal providers in the CopyTrading service. Let's list the TOP-3 of February: RichieFX-EA (profit 188%, maximum drawdown 49%), GOLD RUSH Inc. (profit 129%, drawdown 51%) and VN.NO1 (profit 110%, drawdown 31%).

As for PAMM, the past month was not as successful, but if you look at the entire investment period, then, for example, the manager under the nickname WyseTrader9711 showed a profit of 61.45% with a maximum drawdown of 15.7%, and the results of the ProCapital manager were 24.9% with a drawdown of only 9.8%, which is several times higher than the income on bank deposits in USD.

Commission fees of NordFX IB-partners almost doubled in February compared to January, which indicates a serious growth in trading activity. The TOP 3 of the month is as follows:
- the largest commission, USD 17282, was credited to a partner from India, account No.1527xxx;
- next is a partner from Sri lanka, account number 1483xxx, who received 11.749 USD;
- and, finally, a partner from China, account No. 1336xxx, who received 11.233 USD as a reward, closes the top three.


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


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

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16  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 10, 2021, 03:46:49 PM
CryptoNews


- The price of bitcoin at the moment is most correlated with real estate prices, and in the future, bitcoin will become similar to low-risk instruments like bonds and will enter the recommended portfolio of investors. This was announced by the head of ARK Investment Cathie Wood on CNBC. “I think the first cryptocurrency will behave like fixed income markets,” Wood said. “We have survived a 40-year bond bull market. And we won't be surprised if this new asset class becomes part of the investment portfolio. Perhaps it will be 60% stocks, 20% bonds and 20% cryptocurrency.” Renowned bitcoin critic Peter Schiff, president of Euro Pacific Capital, called Wood's predictions "outrageous."

- The US Internal Revenue Service (IRS) sent out letters to cryptocurrency holders demanding to pay off large debts to the state. And now, according to Forbes, this agency has launched Hidden Treasure operation to search for residents who hide their income from transactions with digital assets. According to IRS legal counsel Carolyn Shank, the agency is working with private contractors to identify clear signs of violations. "We see you," Shank added menacingly.

- One of the oldest private banks in Germany, Donner & Reuschel, headquartered in Hamburg, is going to add services for the purchase and storage of crypto assets for its clients. Due to high demand, it is planned to launch these services “as soon as possible,” the bank said in a statement.
Donner & Reuschel was founded in 1798 and manages assets worth about $10.7 billion. The bank plans to "intensively engage" in asset tokenization in the future in order to keep up with changes in the financial industry. “We are observing the digital asset market and are convinced of the potential of blockchain, including in relation to traditional securities transactions,” said Marcus Vitt, spokesman for the bank's board.

- The entrepreneur and creator of the famous antivirus, John McAfee, has been charged with fraud and money laundering, and now faces up to 100 years in prison. The case will be considered by the Court of the Southern District of New York. Recall that McAfee was arrested in Spain in October 2020, and now he is awaiting extradition to the United States. Another person involved in the process will be the executive advisor of the cryptocurrency team of the entrepreneur Jimmy Gail Watson Jr., who has been recently taken into custody.
The first charge concerns the manipulative appreciation of altcoins using the Pump&Dump scheme on Twitter. McAfee posted tweets advertising certain coins, leading to an active increase in their price. When quotes peaked, members of McAfee's team sold these altcoins and took profits. Another issue concerns undisclosed fees for participating in the ICO promotion.
“McAfee and Watson made nearly $2 million by using social media to perform Pump&Dump schemes. They also used the same platform to promote tokens without disclosing information about the reward received from the ICO organizers. This brought them another $11 million,” the prosecutor's office said in a statement.

- Bitcoin is becoming an increasingly popular asset among a wide variety of categories of investors and is gradually replacing gold in their portfolios. This is stated in the February report of analysts from Bloomberg.
“The process of replacing gold in [investors'] portfolios with bitcoin is accelerating and we are seeing the risks decrease. In 2020, the cryptocurrency became attractive because of the decrease in its volatility compared to the previous year,” the authors of the report emphasize. The shrinking range of price fluctuations signals that bitcoin has actually become an alternative to traditional investment assets.
Bloomberg team is also positive about the further rate of the main cryptocurrency. After the coin broke above $50,000, it got the opportunity to test higher values. Demand for this asset is increasing, and its macroeconomic indicators are improving. According to Bloomberg analysts' forecasts, bitcoin could reach $100,000 this year. In the long term, the growth of its value will also continue, according to the authors of the study.

- According to venture capital pioneer Tim Draper, Netflix could be the next big company to invest in bitcoin. Since bitcoin can provide a hedge against the inflationary risks associated with dollar, Draper doesn't rule out cryptocurrencies as the perfect solution for someone like Netflix founder Reed Hastings.
Hastings is a great innovator with a lot of creative ideas, and since he has power in the company, he may decide to invest some of his funds in bitcoin. According to Draper, Google may follow suit, but it is more likely that companies like Google, Facebook or Apple will want to issue their own cryptocurrencies without being tied to bitcoin.

- The forecast, according to which the bitcoin rate may reach $1 million or more in the next 10 years, was announced by the CEO of the Kraken crypto exchange Jesse Powell. In a dialogue with Bloomberg reporters, he also said that bitcoin could eventually replace all major fiat currencies that are not backed by gold and other precious metals.
“Right now we are only guessing, but if you value bitcoin in dollars, then you must understand that its value tends to infinity. True "believers" will tell you that it will reach the Moon, Mars and eventually become the world's currency," said the head of Kraken. However, he agreed that there is a risk of sharp market fluctuations, and that prices could "rise or fall by 50% any day." Therefore, the term of an investment in bitcoin, according to Powell, should be at least five years.

- According to a number of futuristic experts, bitcoin will continue to grow, but due to its architecture, it will eventually burst and depreciate.
The rise in the cost of bitcoin is hardwired into its mathematics, according to Singularity University expert Evgeny Kuznetsov, and the cost of electricity required for mining is constantly growing. Already, this process consumes energy comparable to that of the Netherlands. At some point, it will require the energy of the whole world to generate just one unit. That is, there is a limitation for the growth of bitcoin: it is blocked by the amount of energy consumption. But this will not happen soon, not in a year or two, and until that moment it will be possible to make huge capital on it, the futurologist believes.


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

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17  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 07, 2021, 03:06:21 PM
Forex Forecast and Cryptocurrencies Forecast for March 08 - 12, 2021


First, a review of last week’s events:

- EUR/USD. There is a saying, “a new broom sweeps clean”. If the previous US President Donald Trump were in the shoes of Joe Biden now, he would probably call the head of the Fed Jerome Powell a "traitor" for the fact that his speech on Thursday February 04 literally brought down the stock markets of America. Powell stayed indifferent to the surge in US Treasury yields, which closed at an annual high. At the same time, he hinted at the possibility of premature tightening of monetary policy.
And although the head of the Fed stressed that the economy is far from overheating, and he does not yet see the need to raise the interest rate, the market has had a hint of a possible change in monetary policy. In response, the 10-year Treasury yields rushed up with the dollar, and the stock market rolled down. The S&P500 lost over 120 points and the Dow Jones Industrial Average lost over 300 points.
The decline in stock prices is forcing investors to seek refuge in the dollar. As a result, the DXY dollar index reached a three-month high of 91.83 on Thursday, its growth continued Friday, March 05, and the DXY exceeded 92.00 at the time of this writing.
The data from the US labor market added optimism to investors. The number of new jobs outside the agricultural sector (NFP) increased from 166K to 379K, with the forecast of 182K. As a result, the forecast, for which the majority (70%) of analysts voted last week, turned out to be absolutely correct: the EUR/USD pair continued its movement to the south, reaching a local bottom at 1.1895 and ending the week slightly higher, at 1.1915;

- GBP/USD. Graphical analysis on D1 suggested last week a sideways movement of the pair within 1.3860-1.4240. However, the channel turned out to be narrower: it was trading in the range of 1.3860-1.4000 until Thursday. And then, thanks to the statement of the head of the US Federal Reserve Jerome Powell, the dollar began to grow stronger, and the GBP/USD pair, having broken through the lower border of the channel, dropped to the horizon of 1.3775. The last chord of the five-day period was set at the level of 1.3840;

- USD/JPY. The multi-month downtrend of this pair was stopped on January 6, it reversed and moved north for almost all of 2021. When making a forecast for the last week, a third of the experts sided with the bears, a third took a neutral position, and a third voted for the growth of the pair. And even fewer experts agreed that it would be able to reach the zone 108.00-108.50, they were only 25%. And they were right: the week's high was recorded at 108.60, followed by a slight bounce down and a finish at 108.35.
The reason for the rise of the pair is still the same: against the background of the growth in the yield of American bonds, which outstrips the yield on Japanese securities, investors get rid of such a protective asset with a negative interest rate as the yen. Along with the Japanese currency, gold and the Swiss franc are also particularly affected. In addition, the mentioned statement by Jerome Powell added fuel to the fire, after which the USD/JPY pair reached an eight-month high;

- cryptocurrencies. There is good news for the bulls: Bitcoin hasn't dropped below $43,000. But there is good news for the bears too: Bitcoin has not gone above $52,000. Having drawn a sinusoid, the BTC/USD chart returned on the afternoon of Friday, March 05 to where it started seven days ago. The question of whether this is a correction or the beginning of a new "crypto-winter" remains open.
The news background looks quite controversial as well. Leading payment systems such as Mastercard, Visa and PayPal are playing on the side of the bulls, seeking to attract the "crypto generation". Skrill and Neteller are doing the same. The Opera browser has been enriched with new algorithms that will allow users to perform transactions with many popular cryptocurrencies. Another Opera feature would be creating a digital wallet without going to third-party sites. Such a giant as Google also turned to cryptocurrencies: the Google Finance platform added a tab for monitoring the prices of digital assets.   
User activity is growing. The trading volume on cryptocurrency exchanges in February exceeded $1 trillion. Such numbers were achieved for the first time in history, according to experts. Even during the first bitcoin rally, the trading volume reached only $650 billion. According to experts of the analytical platform Block Research, large investors prefer to carry out transactions from one account to another through third-party services in order to maintain complete anonymity. Therefore, the real number of transactions can even be twice the official amount.
However, not everything is as rosy as it seems at first glance. We already wrote that regulators can (and most likely will) become the main problem for digital assets in 2021.
According to analyst Sven Henrich, the head of the USA Ministry of Finance janet Yellen has actually declared war on bitcoin. Her announcement led to a massive profit taking by the whales on February 21-23, and a sharp 23% drop in bitcoin quotes. And now the North American Association of Securities Administrators (NASAA) has published an annual list of the most dangerous financial products, calling cryptocurrencies the top investment risk this year.
In the framework of the struggle of states for control over financial flows, one should not forget about the imminent appearance of the digital yuan, which can deal a serious blow to bitcoin. The United States and a number of other countries do not exclude the possibility of launching their own digital currencies (CBDC) as well.
In the meantime, as we wrote above, the market is at a crossroads. The total market capitalization for the week grew very slightly: from $1,410 billion to $1,444 billion. And the Crypto Fear & Greed Index left the neutral zone (55) again and headed towards the overbought zone, reaching 77 points out of 100 possible.


As for the forecast for the coming week, summarizing the views 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. Judging by the latest indicators, the US economy is doing much better. Vaccinations are in full swing, the labor market is recovering, and GDP in the first quarter is ready to grow by almost 10%. According to Jerome Powell, consumer prices may even slightly exceed the target level of 2% as early as this summer.
However, there is still a long way to a complete recovery. It is this weekend, March 06-07, that the Senate will begin voting on amendments to the budget. And if legislators approve them, US citizens will receive a new gratuitous aid of $1,400 per person, and the overall stimulus package (QE) will amount to $1.9 trillion.
This injection of almost 2 trillion new dollars into the market could cause a serious weakening of the US currency and a return of risk appetite for investors. In this case, the sell-off of shares will stop and stock indices will go up again.
When making a forecast for the coming days, most experts (60%) do not exclude the continuation of the downtrend and the fall of the EUR/USD pair to the zone 1.1800. 100% of trend indicators and 75% of oscillators on H4 and D1 are looking down. But the remaining 25% is already signaling that the pair is oversold.
The picture changes radically with the transition to monthly and quarterly forecasts. Here 70% of analysts expect that the scales will tilt towards the euro after the $1.9 trillion in aid appears on the US market, and the pair will go up. Resistance levels are 1.2025, 1.2060, 1.2170, 1.2200 and 1.2270.
As for the events of the coming week, the publication of data on GDP in the Eurozone on Tuesday March 09, statistics on the US consumer market on Wednesday March 10, and Germany on Friday March 12, as well as the decision of the European Central Bank on the interest rate on Thursday March 11should be considered. According to forecasts, the rate is likely to remain unchanged, at zero. Therefore, the press conference of the ECB leadership, which will be held on the same day, will be of greater interest;

- GBP/USD. Bank of England Governor Andrew Bailey is scheduled to speak on Monday, March 8, where he intends to outline the main parameters of the country's monetary policy while it tries to cope with the financial damage caused by the COVID-19 pandemic. According to ING analysts, “overall, fiscal support should highlight the constructive prospects for the pound sterling in the second quarter of 2021. Further fiscal assistance will contribute to economic recovery and make the pound sterling a leader in the currency market of the G10 countries."
But until this happens, 50% of analysts expect that the GBP/USD pair will break through the support in the 1.3775-1.3800 area and rush to the 1.3600-1.3760 zone. This forecast is supported by 85% of trend indicators and 100% of oscillators on H4, but only 65% of their “colleagues” on D1.
25% of experts, supported by graphical analysis on both timeframes, expect the pair to grow, and another 25% have taken a neutral position. At the same time, as in the case of EUR/USD and for the same reasons, the number of bulls' supporters increases to 60% when switching to the monthly forecast. The resistance levels are 1.3900, 1.3950, 1.4000, 1.4085 and 1.4185, the target is the February 24 high of 1.4240;

- USD/JPY. After the pair literally soared by 215 points last week and reached eight-month highs, it is clear that 100% of the trend indicators are colored green. But as for the oscillators, 35% are already signaling fully that it is overbought. Graphical analysis also points to the south. Many traders are afraid to open both long and short positions in such a situation.
As for the experts, the scales have already begun to tilt in favor of a downward correction: there are 50% of bears' supporters now. 25% expect the USD/JPY pair to continue to rise, and another 25% remain neutral. In the transition from a weekly to a monthly forecast, 80% of analysts are already expecting the pair to decline and return to the 105.00 zone. Support levels are 108.00, 106.70, 106.10 and 105.70; Resistance - 109.80;

 - cryptocurrencies. A Glassnode study found that only 4 million bitcoins are in free float on the market. The third halving in May 2020 halved the miners' reward for the mined block from 12.5 BTC to 6.25 BTC. It further enhances the shortage of coins in the market. And as you know, it is the limited emission of bitcoin that is one of its main advantages over gold and fiat currencies.
“Suddenly, buying bitcoin is no longer insignificant or risky,” wrote Mike Novogratz, head of Galaxy Digital crypto bank. On the contrary, it has become risky not to have BTC in the portfolio when central banks continue to print money. We don't have enough time to hire sales managers to reach all the institutional clients who want to understand and participate in the market."
Even such a supporter of gold as Euro Pacific Capital president Peter Schiff has supported Novogratz. It was just recently, that this bitcoin skeptic called bitcoin the largest bubble in history and unflatteringly spoke about the mental abilities of cryptocurrency investors. And now he has admitted his mistake. “When I first heard about bitcoin, I didn't think that smart investors would be stupid enough to buy bitcoin. I was wrong," Schiff wrote.
Going back tothe head of Galaxy Digital, Mike Novogratz, we should note that he has dramatically changed the forecast for the BTC rate for the end of 2021 upwards.  “It feels like,” says the banker, “we’ll stay for a bit between $42,000 and $60,000, and then see the next big jump to $100,000. I will not be surprised if we reach this mark by the end of this year."
An unexpected conspiracy forecast was given by an expert in the field of competitive intelligence. He believes the creation and support of the Bitcoin hype for years is no coincidence. In case the American financial elite manages to convince its creditors that having bitcoins is better than dollars, it can transfer all external debt of the US to this cryptocurrency over time. "As soon as this happens, the cryptocurrency will only have to collapse, and America's gigantic debt will actually be zeroed," the expert reflects.
Time will tell whether it is true or not. In the meantime, events in the US stock market play one of the leading roles in influencing bitcoin. Recall that about a year ago, the fall in the stock market due to the panic around the COVID-19 pandemic provoked a collapse of the cryptocurrency market.
And in conclusion, another funny crypto life hack. We have already talked about an American fortune teller who predicts bitcoin rates by observing the movement of the planets. There was also a story about another resident of the United States who placed a mining farm in the trunk of his BMW. The farm receives energy from the car's battery, to which it is connected using a DC inverter, which allows the owner to mine cryptocurrency while the car is moving.
And now a gamer and crypto enthusiast from China named Yifan Gu has become known. He managed to bypass the technical limitations for cryptocurrency mining, set in the Sony PlayStation 5, and adapted this game console for Ethereum mining, gaining a profitability of about $50 per week. Earlier, Yifan Gu adapted his MacBook Air with Apple M1 chip for mining this leading altcoin. However, at the ETH current rate, you can earn only $0.14 in one day on the MacBook Air.


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

https://nordfx.com/
18  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: March 03, 2021, 03:18:23 PM
CryptoNews


- The trading volume on cryptocurrency exchanges in February exceeded $1 trillion. Such numbers were achieved for the first time in history, according to experts. Even during the first bitcoin rally, the trading volume reached only $650 billion. According to experts of the analytical platform Block Research, large investors prefer to carry out transactions from one account to another through third-party services in order to maintain complete anonymity. Therefore, the real number of transactions can even be twice the official amount.

- Users of the Opera browser will be able to carry out transactions with many popular cryptocurrencies directly in the browser. “We have added fundamentally new algorithms. We are talking about the Simplex payment processor, which is used in many reliable and reputable cryptocurrency wallets. We are ready to provide services on competitive terms. This is especially true of transaction fees, which we will have as low as possible,” Opera says in a press release. Another benefit would be creating a digital wallet without going to third-party sites.

- A proponent of gold, President of Euro Pacific Capital Peter Schiff congratulated those who managed to buy the first cryptocurrency before take-off and made Wall Street succumb to "this mania." It was just recently, that this bitcoin sceptic called bitcoin the largest bubble in history and unflatteringly spoke about the mental abilities of cryptocurrency investors. And now he has admitted his mistake. “When I first heard about bitcoin, I didn't think that smart investors would be stupid enough to buy bitcoin. I was wrong," Schiff wrote.

- The Google Finance platform has added a tab for monitoring digital asset prices. The new section provides real-time information on Bitcoin, Ethereum, Litecoin and Bitcoin Cash prices. This block has been added to the sections on the markets of the US, Asia, Europe and "Currencies", and makes it possible to compare the performance of cryptocurrencies with other financial instruments.

- The amount of damage from fraud with digital currencies could double in 2021 and reach $4.5 billion. This This assumption was made by specialists of Kaspersky Lab. Other popular fraudulent schemes include the closure of bitcoin exchanges under the pretext of technical problems or hacker attacks, gaining access to user data using fake applications or websites, and sending out fraudulent emails.

- The head of Galaxy Digital, Mike Novogratz, has dramatically changed the forecast for the BTC rate for the end of 2021 upwards. “We are watching one group of investors after another,” he writes. “They were Square, MicroStrategy and Tesla corporations. These were insurance companies Mass Financial and others. These are wealthy people. This is ETF. Suddenly, buying bitcoin is no longer insignificant or risky. On the contrary, it has become risky not to have BTC in the portfolio when central banks continue to print money. Our business at Galaxy is booming. We don't have enough time to hire sales managers to reach all the institutional clients who want to understand and participate in the market."
“It feels like,” says Novogratz, “we’ll stay for a bit between $42,000 and $60,000, and then the next big jump to $100,000. I will not be surprised if we reach this mark by the end of this year."

- MicroStrategy bought another 328 BTC for $15 million. It is the first purchase of crypto assets in March, following its February acquisitions worth billions of dollars. And now MicroStrategy has about 90,859 BTC purchased for $2.186 billion at an average price of $24,063 per coin.
Earlier, MicroStrategy CEO Michael Saylor said the company will continue to buy digital currency: "We are focusing on two corporate strategies: expanding the enterprise analytics software business and buying and storing bitcoin." Saylor predicts that 7-8 billion people on the planet will have a “bullion of digital gold” in the phone in the long run, which they will use as family savings.

- The Visa payment system is interested in changing the views of bank card holders due to the coronavirus pandemic. For example, a survey it conducted showed that 25% of all credit card holders in South America would like their banks to add the ability of settlements in cryptocurrency. One in four Hispanics expressed a desire to experiment with digital assets and try them out in everyday life.

- Despite the technical limitations for cryptocurrency mining, set in the Sony PlayStation 5 game console, it is quite suitable for this process at the hardware level. This was taken advantage of by a gamer and crypto enthusiast from China named Yifan Gu, who managed to bypass the restrictions and adapted the console for Ethereum mining, gaining a profit of about $50 per week. This is reported by the Gizchina edition.
Earlier, Yifan Gu adapted MacBook Air with Apple M1 chip for mining Ethereum. However, at the current rate of this altcoin, you can earn only $0.14 in one day on the MacBook Air.

- One of the experts in the field of competitive intelligence has suggested that creating and maintaining the long-term hype around bitcoin is not accidental. According to him, in case the American financial elite manages to convince its creditors that having bitcoins is better than dollars, it can transfer all external debt of the US to this cryptocurrency over time. "As soon as this happens, the cryptocurrency will only have to collapse, and America's gigantic debt will actually be zeroed," the expert reflects.

- Cryptocurrency mining requires more and more electricity, which poses a threat to humanity's path to “zero emissions.” This is reported by the Guardian, citing alarming research findings by American scientists. Thus, the amount of energy used to extract bitcoins exceeds the annual energy consumption of entire countries. “We're talking about a few terawatts, tens of terawatts of electricity per year that are used for bitcoin alone,” notes University of New Mexico economics professor Benjamin Jones, calling for measures to regulate cryptocurrency mining to reduce the carbon footprint.

- Financial industry veteran and Fidelity Investments director of macro markets Jurrien Timmer believes that bitcoin has reached the point where it can be considered for investment and hedging inflation risks. “I think gold and bitcoin are great for replacing some of the bonds,” Timmer writes in a paper titled Understanding Bitcoin.
In his opinion, the limit on the maximum number of bitcoins makes this asset very similar to gold. Moreover, the appearance of new bitcoins on the market is constantly slowing down, but the volume of gold production has remained at the same level for half a century.
Timmer's views are in line with those of SkyBridge Capital founders Anthony Scaramucci and Brett Messing. They released an article in January in which they described bitcoin as a mature investment asset, comparable in reliability to gold and bonds.


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

https://nordfx.com/
19  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: February 28, 2021, 08:26:53 AM
Forex Forecast and Cryptocurrencies Forecast for March 01-05, 2021


First, a review of last week’s events:

- EUR/USD. As we expected, the speech by the head of the Fed turned out to be quite interesting. Jerome Powell presented to Congress a semi-annual report on monetary policy, from which it followed that not everything is as good as we would like as far as the recovery of the US economy is concerned. The surge in economic activity in the summer of 2020 was followed by the slowsown of the growth rate. The decline in unemployment has slowed down, and household expenditures are not growing either.
After the unrest and turmoil of 2020, a lot of attention is paid to socio-demographic differentiation, but the picture is not the rosiest either. Unemployment among "white" Americans, according to the Fed, is 5.7%, while among Hispanics - 8.6%, and among African Americans it is even higher - 9.2%. There is also discrimination based on gender: for the last month of 2020, men gained 16,000 new jobs, while women, on the contrary, lost 140,000.
All of the above raises certain doubts about the early recovery of the American economy, leads to a decrease in risk sentiment, and strikes a blow on the stock market and the US dollar. Investors are shifting attention to long-term government bonds. Since the beginning of 2021, the yield on 10-year treasuries has jumped from 0.91% to 1.56%, and their growth has become especially noticeable recently. As for stock indices (especially stocks of technology companies), they, accordingly, go down sharply. For example, the S&P500 was losing up to 3.8% in just two days - February 25-26, while the Nasdaq Composite was sinking by more than 3%. The DXY dollar index is also gradually approaching 2018 lows, losing about 9% this year.
In such a situation, most analysts (65%) expected the dollar to weaken and rise to the 1.2200-1.2300 zone, which happened: at the week's high, February 25, the EUR/USD pair was approaching 1.2245. However, then it seems that investors changed their minds and began to realize that the growing yield of long-term Treasury securities directly affects the growth of rates on current consumer lending. And that immediately brings to mind the 2008 mortgage crisis, which marked the beginning of a series of major bankruptcies. As a result, the dollar strengthened a little and the EUR/USD pair dropped to the zone 1.2070-1.2100 - the place where it has already been several times since last December. This can only say about one thing: the confusion of the market and the lack of clarity about the prospects of the European and American economies;

- GBP/USD. As predicted, Prime Minister Boris Johnson's speech on Monday 22 February, as well as the expectation of positive data from the UK labour market on Tuesday 23 February, continued to push the pair GBP/USD to the highs of 2018, raising it to the height of 1.4240.
And of course, the dynamics of the pair could not but be affected by what was happening in the United States. Therefore, repeating the EUR/USD parabola, the GBP/USD pair went south on Thursday February 25, especially since it was overbought, and some reason was simply needed to take profit on the pound.
On Friday, having lost 355 points, the pair found a local bottom at 1.3885. This was followed by a rebound and a finish at 1.3930;

- USD/JPY. It was said last week that this pair was moving within the medium-term side channel 102.60-107.00. Only 35% of experts believed then that the pair had not yet completed its movement to the upper border of this trading range. True, 75% of oscillators and 80% of trend indicators on D1 were on their side, which gave additional weight to this forecast, which turned out to be absolutely correct. The USD/JPY pair recorded a 26-week high at 106.70 on the second half of Friday, February 26. As for the final chord, it sounded at the height of 106.55;

- cryptocurrencies. We have repeatedly written that the presence of large institutional investors in the crypto market is a double-edged sword. On the one hand, they can strongly push the market up, and on the other hand, they can crash the quotes if they fix profits. In addition, the actions and sentiments of such institutions are highly dependent on the actions and sentiments of regulators and other government agencies. We felt all this in full last week.
After bitcoin hit an all-time high of $58,275 on February 21, investors were looking forward to taking the $60,000 high. However, there was a sudden reversal and a sharp drop of 23% to $44,985. Then the rebound to $50,000, and a fall again - to $44,000.
According to many experts, the trigger of the massive profit fixation by "whales" was the statement of the former head of the Fed and now the US Treasury Secretary Janet Yellen on the speculative nature of cryptocurrency and the possibility of using it for money laundering. According to analyst Sven Henrich, the head of the Ministry of Finance has actually declared war on bitcoin.
“Digital currencies can provide faster and cheaper payments. But there are many issues to be explored, including consumer protection and money laundering,” Janet Yelen said, also mentioning the possibility of launching the Central Bank's own digital currency (CBDC).
The fall in bitcoin could also have been facilitated by the fall in global indexes of technology companies and the beginning of large-scale vaccinations against coronavirus, but the main thing is the position of the US Government.
According to Bloomberg, against the background of the decline in the bitcoin rate, the head of Tesla and SpaceX, Elon Musk, lost the first place in the ranking of the richest people on the planet. Tesla shares fell by 8.6%, as a result of which Musk lost $15.2 billion. At the same time, the fall in bitcoin, according to Bloomberg, may be partly due to the statement of Musk himself, who called the prices of cryptocurrencies too high. It is not for nothing that they say that a word is silver, and silence is gold. Musk would be better off keeping his mouth shut ?.
Of course, someone loses, and someone finds. Thus, for example, due to technical failures, some customers of the Philippine crypto exchange PDAX were able to buy bitcoin almost 10 times cheaper than the market price, Bitpinas reports. One of the users admitted that he bought bitcoins for 300,000 pesos ($6,150), while the average market price of BTC was about $50,000, after which he transferred the cryptocurrency to his wallet. A day later, PDAX sent him a letter demanding the return of the bitcoins, but the buyer's lawyer claims that "the transaction was legitimate, in accordance with applicable laws, and PDAX cannot withdraw transactions unilaterally."
Another client of this crypto exchange unexpectedly found 40 billion Philippine pesos or about 820 million dollars in his account. It is not reported whether he was able to withdraw this "gift" from PDAX.
In general, the reliability of crypto exchanges is still a rather painful topic. According to BDCenter Digital agency, Kraken, Coinbase and Binance are the safest exchanges. The brokerage company NordFX can also be noted here, whose clients can also make transactions and store deposits in cryptocurrencies. In the 13 years of this broker, it has not had a single hack and not a single penny of client funds has been lost.
On Friday evening, February 26, the BTC/USD pair is trading in the $46,000 zone. The total market capitalization fell over the week from $1,625 billion to $1,410 billion. AND The Crypto Fear & Greed Index has finally come out of strong overbought zone to neutral levels, dropping from 93 to 55.
When it comes to altcoins, there is both good news and bad news. For example, the largest developer of GPUs - American technology company Nvidia announced plans to release a series of graphics cards specifically for mining Ethereum. According to CNBC, they can be expected to appear on sale this March.
But it looks like the hard times will not end for Ripple. One of the world's largest money transfer services, MoneyGram, refused to use the product based on the XRP token due to the claims of the US Securities and Exchange Commission (SEC) against Ripple. Against the backdrop of SEC claims, in addition to MoneyGram, Coinbase and OKCoin, Galaxy Digital, Bitstamp, B2C2, eToro and Kraken have already refused to support the XRP token. Asset management company Grayscale Investments announced the liquidation of an XRP-based investment trust, and 21Shares has removed the Ripple token from its exchange-traded products. As a result, the Ripple lost up to 45% of its value last week, and the XRP/USD pair was trading at $0.42 on the evening of February 26.


As for the forecast for the coming week, summarizing the views 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 figures given in the first part of the review confirm the opinion of the US Federal Reserve management that it is still very, very early to talk about any curtailment of the quantitative easing (QE) program, as well as about raising interest rates. Therefore, the Fed will continue its soft monetary policy, even as inflation expectations rise caused by a doubling of the Fed's balance sheet over the past year.
However, not only the US has the problem of increasing national debt. Europe is experiencing similar problems, and the interest rate there is even lower than on the other side of the Atlantic. The profitability of European government securities is also growing. Thus, the rate on 10-year bonds in Germany has already reached an 11-month high.
In general, we can say that the balance between the problems and achievements of the Old and New Worlds remains on average at the same level, experiencing minor temporary fluctuations, which is reflected in the three-month sideways trend of the EUR/USD pair. If you look at its chart, it can be seen that, since December 2020, most of the time it moves in a fairly narrow trading range of 1.2050-1.2185, with emissions up to 1.1950 and 1.2350.
If we talk about the short term, 70% of analysts believe that the pair will continue to decline to the 1.1950-1.2000 zone. They are supported in this by 75% of oscillators on H4, the remaining 25% give signals that the pair is oversold. As for the oscillators on D1, there are approximately equal shares of red, green and gray-neutral colors. 95% of the trend indicators on H4 and 65% on D1 are painted red.
But graphical analysis on both timeframes gives preference to the upward movement of the pair. Resistance levels are 1.2170 1.2240 and 1.2270. However, after this push to the north, graphical analysis on D1 draws a decline in the pair during March to support at 1.1950.
And now about the events of the coming week, of which there will be quite a few. Firstly, we are waiting for the speeches of the head of the ECB Christine Lagarde on Monday March 01 and the head of the US Federal Reserve Jerome Powell on Thursday March 4. Statistics on the consumer markets of Germany and the EU will be released on March 01, 02 and 04. As for the US macro statistics, the indicators of ISM business activity in the manufacturing and private sectors will be known on Monday and Wednesday. And in addition, data on the labor market will be published on Wednesday and Friday. Moreover, according to forecasts, a significant increase in new jobs created outside the US agricultural sector (NFP) is possible - from 49K to 148K;

- GBP/USD. First, the readings of technical indicators. Oscillators: 90% on H4 are looking south, 10% are in the oversold zone; only 15% are looking to the south on D1, 50% to the north, and 35% are neutral. Trend indicators: 80% look south on H4, 20% look north, 25% look south on D1, 75% look north.
Graphic analysis on D1 draws a side trend in the range 1.3860-1.4240. And it is clear that since the pair finished the previous week closer to the lower border of this channel, it will move upward. 60% of experts agree with this forecast. Resistance levels are 1.3960, 1.4055, 1.4085 and 1.4175.
The remaining 30% believe that the pair will break the lower border of the channel 1.3860, then support around 1.3800 and will go to the 1.3600-1.3760 zone. It should be noted that, when moving from weekly to monthly forecast, the number of supporters of the bears increases to 65%.

- USD/JPY.  The multi-month downtrend of this pair was stopped on January 06, and it turned north, moving to the upward channel. According to the graphical analysis on D1, the USD/JPY pair has almost reached its upper border now, which is in the zone 106.70-107.00, and should soon bounce back to the south. Such a scenario is supported by 25% of the oscillators giving signals about the pair being overbought. It is clear that the remaining 75% of oscillators and 100% of the indicators on both time frames are colored green so far.
As for experts, a third of them sides with the bulls, a third votes for the bears, and a third takes a neutral stance. However, in the transition from weekly to monthly forecast, 75% of analysts vote for the pair to stay within the medium-term trading range of 102.60-107.00 (it was mentioned in the first part of the review), and therefore await its return to its central zone at 105.00. Support levels are 106.10 and 105.70; The remaining 25% of experts believe that the pair will be able to reach the zone of 108.00-108.50;

 - cryptocurrencies. The popularity and prominence of cryptocurrencies continues to grow. According to BDCenter Digital, 12 out of 100 Twitter posts are about cryptocurrency. In just the week of February 7-14, Twitter users mentioned bitcoin over 675,000 times. The last record was set on January 10, when the weekly number of posts mentioning bitcoin reached 576,000. In total, the number of cryptocurrency users has stepped over 200 million people from more than 150 countries.
Despite the drop last week, 2021 started off well for bitcoin overall. The pair started at $28,800 on January 1 and is trading at $46,000 at the time of writing, having gained almost 60%. And now, importantly, the Crypto Fear & Greed Index has finally emerged from a strong overbought state, dropping from 93 to neutral 55.
Of course, this does not mean that the quotes of the BTC/USD pair will immediately fly up. However, what is happening gives investors hope for the fulfillment of the positive predictions of many experts and crypto gurus. recall that Lisa Edwards, sister of self-proclaimed bitcoin creator Craig Wright, has predicted that the first cryptocurrency would rise to $142,000. Based on Elliott Wave Theory, she suggested that digital gold would rise to $90,000 by May 2021, decline to $55,000 by January 2022, and skyrocketing to $142,000 in March 2023.
According to the co-founder of Morgan Creek Digital Assets Anthony Pompliano, the main cryptocurrency may reach $500 thousand by the end of this decade, and even $1 million in the long term.
However, the growth of cryptocurrency quotes may stop due to the rapid recovery of the global economy after the recession caused by the coronavirus epidemic. In this case, central banks will begin to roll back their quantitative easing programs, raise interest rates, stop buying assets and printing cheap money. As a result, investment flows into bitcoin, as one of the most attractive safe havens, can dry up very quickly.
So, what did we observe last week - a temporary correction or the beginning of a new "crypto winter"? The question is still open. However, the overwhelming majority of experts (70%) believe that the BTC/USD pair will reach the $ 60,000-75,000 zone in spring. The pessimism of the remaining 30% of analysts is expressed in the figures of $30,000-35,000.


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

https://nordfx.com/
20  Economy / Service Announcements / Re: Nordfx broker: news, weekly Analytics on: February 27, 2021, 07:16:06 AM
Two More Awards for NordFX: Best Affiliate Program & Best Forex Broker Middle East 2020


At the end of 2020, the Forex-Awards.com expert council named NordFX Best Forex Broker Middle East. The two-tier NordFX affiliate program was also awarded a prestigious award.



Forex-Awards.com is a team of professionals headquartered in Hong Kong, which specializes in the analysis and evaluation of brokerage companies since 2010, aiming to identify the real market leaders. Based on the opinions of both independent experts and the trader community, Forex-Awards.com employees compile regular ratings of brokers, identifying their strongest and most attractive sides. The winners in each of the 30 nominations are then determined based on the results obtained. A convincing victory was won by the brokerage company NordFX in two of them in 2020.

More than one and a half million accounts have been opened by clients from almost 190 countries during 13 years of NordFX work, among them many traders from the Middle East. Back in 2013, at the 12th MENA Forex Show, the company won the prize as Best Forex Arabic Platform. And now the new award confirms the high level of services that NordFX provides to clients from this region: the first place in the Best Forex Broker Middle East nomination.

Another victory at the Forex Awards was won in the Best Affiliate Program category. Since 2016, thanks to its effectiveness and popularity, NordFX's two-tier affiliate program has been receiving the highest marks. It has been recognized as the best by expert committees of not only Forex-Awards.com, but also by Academy Masterforex-V and Saigon Financial Education Summit. More than 25,000 of the company's partners have already been paid more than $30,000,000 as commission until now, and these figures continue to grow steadily.


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

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