Bitcoin On The Move

As the cryptocurrency market is recovering, Bitcoin is again taking the lead as one of the most appreciated assets in this asset class, the cryptocurrency industry. Bitcoin dived below the 200SMA giving birth to rumors that the whole market is crashing only to recover and to bring back positivity into the space.

Bitcoin dived under $6,500 to a low of $6,440 and is now trading at $9,200 less than three weeks after the bottom.

According to Dan Morehead, founder and CEO of Pantera Capital, one of the largest cryptocurrency hedge funds, Bitcoin flashed a rare buy signal when it went below the 200SMA.

The cryptocurrency market is the newest asset class in more than a decade. No one actually knows if it will stick around, but if it does, it would be well worth it to invest in it now.

Chart: BTC/USD H4

Will The US Stock Market Decline Continue?

The Dow Jones has lost some 4% from its highest point since Friday going from 26700 to a low of 23500. Point wise we saw the worst decline in four years. Currently, the index seems to have recovered quite a bit to a current market price of 24737.

According to prominent money managers such as Carl Icahn and Paul Tudor Jones, the market is still majorly overvalued and the sell off could suddenly turn violent. With the rising job reports and low interest rates, the Fed may be forced to move aggressively and hike at least three times this year.

This prognosis caused fear and doubt in investors who caused the initial sell off on Friday immediately after the NFP and jobs report.

One thing is certain, with volatility picking up we could be in a field of dreams in 2018 with good opportunities in stocks, currencies and commodities (cryptocurrency as well.).

 Chart: US30, H4

CFTC and SEC Met To Discuss Cryptocurrency

Yesterday the CFTC and the SEC met in order to discuss the future of cryptocurrency. The meeting was held in a way that was positive for the future of cryptocurrencies. Here are some major points that were made during the hearing held by CFTC Chairman J. Christopher Giancarlo and SEC Chairman Jay Clayton.

The CFTC and the SEC are looking forward to the development of cryptocurrency and the underlying tech, the blockchain. They are optimistic about the opportunity to support projects for the benefit of society New investing opportunity for the people who want to support a new industry.

The regulators promised to work up ways that will enable them to monitor the field for scam ICOs. The sentiment was predominantly positive and the effect on the whole cryptocurrency market was very good. The market cap went up in value with more than 80B, while most of the coins are showing a double digit percentage growth for the past 24h.

Highlight of the hearing: CFTC Chairman Giancarlo went on to explain what HODL is.

USD/CAD Consolidates at The Lows

USD/CAD has been trading around its low points currently consolidating between 1.25 and 1.24. The pair has been in a long term downtrend and it's only recently beginning to shows signs of recovery. With the USD depreciating it could take some more time for the pair to start a healthy uptrend.

We could see a rise in the US dollar which would reflect all USD pairs as we have been in a downtrend for the most part of the last year. If we can find bottom in current USD/CAD pair, bulls have a lot of room to the upside. First bull target is seen at 1.26.

The Euro rally appears to have exhausted now and a few prominent market experts are calling out that current market level in the EUR/USD is the top and we would witness a US dollar appreciation this year.

Chart: USD/CAD H4

ActivTrades Introduces Cryptocurrencies

ActivTrades has recently rolled out their newest asset class available for trade - cryptocurrencies. As you probably know, cryptocurrencies saw their rise in late 2017 and since then they have been in the media and all over the news.

Now with their newest update, ActivTrades are offering for trade four cryptocurrencies, namely Bitcoin, Ethereum, Ripple and Litecoin. These four are well known and well established coins with community support and trust and are considered by some as the index of the whole crypto market.

You can get access and trade them by using the native ActivTrades platform or MetaTrader. If you need more info, just visit HERE.