Tuesday, April 13, 2021
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    XTB Review

    Celox Review

    Onorio Review

    Lucrum Pro Review

    Plutus Global Review

    Galore Pro Review

    Profit Trade Review

    LegacyFX Review

    City Index Review

  • Broker Types
  • Forex Jobs
  • News
No Result
View All Result
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    XTB Review

    Celox Review

    Onorio Review

    Lucrum Pro Review

    Plutus Global Review

    Galore Pro Review

    Profit Trade Review

    LegacyFX Review

    City Index Review

  • Broker Types
  • Forex Jobs
  • News
No Result
View All Result
No Result
View All Result
Home News Forex Broker News fxpro

Perhaps Bitcoin may become digital gold but forget about the altcoins

Bitcoin’s consistent failure to take several round levels along the path of growth, and then the sideways trend turned into a sell-off. Sellers pushed the Bitcoin down to $9,700, where they saw an increase in purchases from bulls returning the benchmark cryptocurrency back above the $10K threshold. By the end of the week, the process was no longer a tug-of-war process, but a real fight.

The frequently quoted Crypto Fear & Greed Index is now in the “Fear” zone, reflecting the market decline and proximity to lows. However, if the market is at lows or near, it is very good news for Bitcoin investors.

The decline of the markets at the beginning of the week and the growth of Bitcoin renew a wave of discussions that the collapse of commodity and stock markets is spurring demand for cryptocurrencies. Especially when this is happening due to the worsening political situation (as in Hong Kong) or a sharp weakening of national currencies everywhere in the EM.

A global turmoil is expected to increase demand for Bitcoin along with traditional safe assets such as gold. Later on, the statistics will allow answering this question more accurately: within the framework of recent events, there were both confirmation and refusals of the correlation (the growth of Bitcoin – the fall of the market and vice versa).

Altcoins are still the main losers in the battle of bulls and bears for bitcoin. Dynamics around Bitcoin can be considered as clear evidence of the vitality of the asset. The altcoin market is simply destroyed by successive sales. Alternative cryptocurrencies still have supporters, and this can be seen in the decline over the last 7 days of Bitcoin dominance index by 1 percentage point, but the number of such investors will decrease in the future if the negative price dynamics will persist.

ADVERTISEMENT

With each new sale-off, even the leading coins are declining lower and lower, while the main forces of crypto enthusiasts seem to be going to support the benchmark currency. Ethereum (ETH) has lost 16% in the last 7 days, XRP has lost 13% in the same period, Bitcoin Cash (BCH) declined by 7%, Litecoin (LTC) has lost 17%, ZCash (ZEC) has fallen almost 20%.

In general, there is a change in the structure of the market cryptocurrency: the halo of breakthrough new technology has disappeared, and the market sentiment is now more controlled by fundamental and technical analysis.

Crypto market participants are growing up, and if in December 2017 the news about the launch of futures contracts contributed to the growth of BTC to historical highs, now everyone understands that professional investors will not hesitate to collapse the entire market if it will be profitable. Although the market sentiment is bullish in general, they still understand that the market is in the hands of big businesses, and this should be taken into account.

The FxPro Analyst Team

0/5 (0 Reviews)
Share197Tweet123ShareSend

Related Posts

fxpro

Ebay Wave Analysis – 18 December, 2019

December 20, 2019
fxpro

EURUSD Wave Analysis – 18 December, 2019

December 20, 2019
fxpro

NTGUSD Wave Analysis – 18 December, 2019

December 20, 2019
fxpro

US Fed Official Says 50% of Bitcoin Transactions Associated With Illegal Activity

December 20, 2019
fxpro

Christmas and New Year Holiday Trading Schedule

December 20, 2019
fxpro

Bit-comment: Bitcoin bounced after the drop

December 20, 2019

Select one of the Best Forex Brokers for your Trading  |  Read the Reviews

XTB Review

Celox Review

Onorio Review

Lucrum Pro Review

Plutus Global Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. forexbroker.news is an affiliated partner with various Forex brokers and may be compensated for referred Forex traders.

Risk Disclosure: Forexbroker.news assumes no liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and forex signals. Operations in the international foreign exchange market contain high levels of risk. Forex trading may not be suitable for all investors. speculating only the money you can afford to lose. Forexbroker.news remind you that the data contained in this website is not necessarily real-time and may not be accurate. All stock prices, indexes, futures are indicative and not appropriate for trading. Thus, Forexbroker.news assumes no responsibility for any trading losses you might incur as a result of using this data.You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBroker.News has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBroker.News, nor shall it bias our reviews, analysis, and opinions.

  • Privacy Policy
  • Contact US
  • Terms of use,

Copyright © 2020 forexbroker.news

No Result
View All Result
  • Home
  • Forex Broker Reviews
  • Broker Types
  • Forex Jobs
  • News

© 2020 https://forexbroker.news - Forex Broker news & magazine