Buying BTC right now would be nice - Bitcoin - CryptoTalk.Org Jump to content
Wilmer Garcia

Buying BTC right now would be nice

Recommended Posts

According to several experts and analysts the Bitcoin (BTC) going bullishly buying BTC at this time would be fine, indicate that we are in a great opportunity to acquire Bitcoin.  

Share this post


Link to post
Share on other sites
1 hour ago, Wilmer Garcia said:

According to several experts and analysts the Bitcoin (BTC) going bullishly buying BTC at this time would be fine, indicate that we are in a great opportunity to acquire Bitcoin.  

There are also several experts saying that it's bearish time now so it would be helpful if you linked to the sources so that this isn't just a hear say and we can check the track record of these analysts.

  • +2 1

Share this post


Link to post
Share on other sites
3 hours ago, Wilmer Garcia said:

According to several experts and analysts the Bitcoin (BTC) going bullishly buying BTC at this time would be fine, indicate that we are in a great opportunity to acquire Bitcoin.  

I would recommend buying now, but it was better to buy Bitcoin back when it went down to 4,800$. Imagine how much you would have earned now. Still, there's still a chance now. 

  • +1 1

Share this post


Link to post
Share on other sites

Yes, bitcoin is on the trail of bull and this should be taken into account. Today, Bitcoin is about $ 6,600. Most likely, this is a bullish forward movement. 

  • +1 1

Share this post


Link to post
Share on other sites

Yes mate you are right this is the right time to purchase bitcoins because we are about to experience a continues bull run that might even push the price of btc to 50k says some other experts and I don't want to miss this opportunity if it will come true.

  • +1 1

Share this post


Link to post
Share on other sites

we are now going through with a tough time that bitcoin price is dumping gradually.but this is thr best time for those who wants to buy Bitcoin and the people who were wishing for dump in bitcoin's price

Share this post


Link to post
Share on other sites
Just now, Wilmer Garcia said:

According to several experts and analysts the Bitcoin (BTC) going bullishly buying BTC at this time would be fine, indicate that we are in a great opportunity to acquire Bitcoin.  

You posted this 20 hours ago, that means you are taking about the price f bitcoin at 6k, i would nit advice you to by bitcoin at 6k right now. Buy at 4k or 5k at least.

Share this post


Link to post
Share on other sites

Of course for the bitcoin holders that's is the right time to buy bitcoin although no body knows if it will continue to be dropped because of the world crisis of CORONA Viruses

Share this post


Link to post
Share on other sites
On 3/24/2020 at 4:35 PM, Wilmer Garcia said:

According to several experts and analysts the Bitcoin (BTC) going bullishly buying BTC at this time would be fine, indicate that we are in a great opportunity to acquire Bitcoin.  

Well obviously but i dont think experts predictions are always true. But yes it Will be good when prices are low to buy more btc and hold them until price get rise back again in the market. 

Share this post


Link to post
Share on other sites
On 3/24/2020 at 4:05 PM, Wilmer Garcia said:

According to several experts and analysts the Bitcoin (BTC) going bullishly buying BTC at this time would be fine, indicate that we are in a great opportunity to acquire Bitcoin.  

Yes for holding purpose it is very good to get bitcoin now. And i think it will be going up and up. I also hear from experts and they were saying it will not stop at 10000 .may be it will cross 20000.

Share this post


Link to post
Share on other sites

Yes, you are right. It is a good opportunity for those who want to take advantage of it. This is a certainty that Bitcoin will grow again and will return to its normal price. This is what we hope to compliment.

Just we hope that this crisis will end and peace will come


Учитесь, учитесь и учитесь на своих ошибках :classic_smile:

Share this post


Link to post
Share on other sites

Yeah, I also read few about such analysis. 

This kind of opportunity does not come around often and this is the perfect chance to attack the market bullishly, buying in stock for after all this challenging period, bitcoin will rise again.


My Altcointalks username —° Raqeebzy

 

Share this post


Link to post
Share on other sites

It's a good place to buy, but some expect a further drop, so if you want to buy, buy only part of your money

Share this post


Link to post
Share on other sites
8 hours ago, Zezo said:

It's a good place to buy, but some expect a further drop, so if you want to buy, buy only part of your money

 

At the very least, I expect future volatility, especially around the weekends. So I would not spend everything at once indeed.


Finally a currency which I believe might become a stable coin with a good future (community controlled Ecoin)

Look, read the FAQ, and sign up for free here: https://ecoinofficial.org/referral/n9zk2s0

Share this post


Link to post
Share on other sites

bitcoin now moving bullish market way because now bitcoin prices 6800$ dollars, so now good chances to buy some bitcoins  because before bitcoin halving its great opportunity to buy, because when bitcoin halving complete, bitcoin prices goes high so I recommende to buy bitcoins.


 

   

Share this post


Link to post
Share on other sites
On 3/24/2020 at 6:19 PM, Anderson21 said:

This is a good time to buy Bitcoin. Because the price of bitcoin is much lower now, you can buy more bitcoin if you want and sell when the price goes up. I have also hold some Bitcoin myself.

Good morning I am interested in the position and would like to know you better and I will be there at you and your family a very happy and prosperous New year to you about it when you get home I will send

3 hours ago, Reostra77 said:

I guess bitcoin will continue to rise as well as the price of altcoin so buying a coin now is the right decision

Thanks for the same time I was there was a lot of fun and I hope you have a car so I can get a ride to the airport on Sunday and I will be there at the same time I don't have any questions please feel free to

3 hours ago, Sho12 said:

According to me although it is the best time for investors who want to buy Bitcoin only if we buy Bitcoin and hold on for a long time then we can make good profits on a daily basis trading. 

Good morning I am interested in the job and I will be there at the same time I was there was a lot to yyyetg to get a chance to talk with you about it when yyyyt you need anything else from me tytyt I

15 minutes ago, marlinpayal said:

Buying Bitcoin on Europe’s leading retail broker for buying and selling digital assets is easy, fast and secure. Bitcoin (BTC) is the first decentralised, digital currency in the world. This means that, unlike in the case of traditional banking systems or payment providers such as Paypal, there is no central authority controlling currency transactions.

Yes I will be there at the end of the guy who was the guy who was the guy 😂😂😂😂 g to be in the position and would like to know if you need anything else from me please let me know if you need anything else from

On 3/26/2020 at 12:20 PM, Sweety93 said:

Once half and half is over again it will never come back to this price range but in reality it is the last time to buy Bitcoin for cheap.

G me know if you need anything else please let me know the status of my order and I have a car and I will be there at the same time tyyt to be in the position and would like to know if you need anything else

On 3/24/2020 at 7:26 PM, Bohana said:

I would recommend buying now, but it was better to buy Bitcoin back when it went down to 4,800$. Imagine how much you would have earned now. Still, there's still a chance now. 

Yes good discussion buy btc is good cruncy is a little more than a few minutes late but I will be there at the same time I don't know what I did to you about it when you get home I will be there at the same time I don't have a car so I can get a chance can you send me the

Share this post


Link to post
Share on other sites

In buying btc you need to take a risk because the value of it is not stable. There has a big drop in market and crypto nowadays, you must consider many things in buying BTC.

Share this post


Link to post
Share on other sites

Price is down for Bitcoin now you can make purchase of Bitcoin even on the Yobit exchange. Transfer Bitcoin into the  hardware wallet and secure that until the bitcoin halving event. Be sure and be advised Bitcoin price is going to raised soon. 


 

 

Share this post


Link to post
Share on other sites

At the moment the market is very slow because liquidity has either gone out or people are afraid to trade, you should not make any movement or trading until Bitcoin makes its next move, good luck .

Share this post


Link to post
Share on other sites

I also think that at this price and the current position before halving, buying bitcoins makes sense. The price will still rise by the end of the year.

Share this post


Link to post
Share on other sites

That's right, this is the best time for you to buy more Bitcoin because the price is very low right now compared to a few weeks ago. Don't waste you opportunity now 

Share this post


Link to post
Share on other sites
On 3/24/2020 at 5:05 AM, Wilmer Garcia said:

According to several experts and analysts the Bitcoin (BTC) going bullishly buying BTC at this time would be fine, indicate that we are in a great opportunity to acquire Bitcoin.  

Yes this is the best moment to buy Bitcoin because of his low price right now, when this crisis passed probably the price would be normal again, and would be around the 8500-10500

Share this post


Link to post
Share on other sites

If you are a trader then this is the perfect time for you to trade. Because  now the price of bitcoins are quite low and if you buy enough coin. After a month or week the price will go high as per the expert. So that's how you will make a good profit by that. So don't hesitate just buy and trade in btc. 

  • +2 1

Share this post


Link to post
Share on other sites

The current price of Bitcoin has dumped and now i don't think there is any chance of dumping more though it may go down some percentage and look if you buy at this time and can wait you earn huge profits just wait until the halving.


NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Topics

  • Сообщения

    • Друзья, наши курс на данный момент: USDT – RUB – 85 (Не забывайте, что курсы нестабильны, точные данные можете узнать в моменте у поддержки)
    • Добрый день всем нынешним и будущим клиентам 😊 Курс по направлению: BTC – RUB – 5 425 860 Обменник работает в ручном режиме, 24/7. Подробности уточняйте у операторов.  
    • Доброго времени, уважаемые пользователи форума! Хотели бы напомнить, что на нашем обменном сервисе действует акция "Соверши обмен и получи бонус 5$".   Ваше мнение очень важно для нас. Мы стремимся постоянно улучшать наши услуги, и Ваш отзыв поможет нам стать еще лучше. Поделитесь своим опытом использования нашего сервиса, оставив отзыв, и получите приятный бонус от нас!   Как оставить отзыв? 1. Совершите успешный обмен на любую сумму. 2. После обработки заявки у вас появится список площадок для оставления отзыва. 3. Напишите приятный отзыв и предоставьте скриншот скриншот отзыва нашему чат-менеджеру на сайте обменного сервиса; Благодарим Вас, что пользуетесь нашими услугами и помогаете нам развиваться и улучшать наш сервис! Контактная информация:- Сайт: Bitkit.Money- Почта: support@bitkit.money- Телеграм (кликабельно)  
    • Проходим тестнет от Hybrid и CoinList.                 Напомню, Hybrid — это блокчейн первого уровня, совместимый с EVM, разработанный для создания агентов ИИ.   Пока без инвестиций, однако скоро будут IDO раунды. На твиттер проекта подписаны Galxe, Cookie3, SecondLive и Wisdomise AI.Сейчас Hybrid вместе с Coinlist запустили тестнет и выделили 6% на дроп для комьюнити.Что делаем? Заходим на сайт;   Берем тестовые токены;   Бриджим HYB в Sepolia Testnet; Фармим транзакции;   Пользуемся сканом;   Пишем отзывы.   Дедлайн: 28 августа.   Рекомендую прогнать данный тестнет, так как поддержка у проекта хорошая, сам тестнет подкреплен Coinlist, и на дроп выделено приемлемое количество токенов.
    • Дорогие пользователи!Мы уменьшили по всем направлениям минимальные порог по обменным операциям!Ждём Вас на  MisterBit ←(можно кликнуть для открытия)
    • Конец недели привел к увеличению вывода средств из спотовых биржевых фондов (ETF) биткойнов ( BTC ), в результате чего общий чистый отток по этим продуктам превысил 544 миллиона долларов. По данным Farside Investors , 21 июня чистый отток спотовых биткойн- ETF составил $105,9 млн, что делает его шестым днем подряд, когда отток превышает $100 млн.  Основная часть этих оттоков пришлась на три крупных фонда: Fidelity Wise Origin Bitcoin Fund (FBTC) с $44,8 млн, Grayscale Bitcoin Trust (GBTC) с $34,2 млн и ARK 21Shares Bitcoin ETF (ARKB) с $28,8 млн. Спотовые потоки биткойн-ETF 14-21 июня | Источник: Farside Investors. Несмотря на медвежьи настроения на рынке, не все ETF последовали этой тенденции. Биткойн-ETF Франклина (EZBC) сумел переломить тенденцию, обеспечив приток $1,9 млн в тот же день. Со своей стороны, iShares Bitcoin Trust (IBIT) компании BlackRock, крупнейший биткойн-ETF по количеству холдингов, оставался нейтральным без каких-либо существенных изменений. Недавняя тенденция оттока средств примечательна, особенно если учесть, что только на прошлой неделе чистый отток спотовых биткойн-ETF составил $580,6 млн. Это произошло после четырех недель подряд чистых поступлений, которые в совокупности добавили к этим инвестиционным продуктам около 4 миллиардов долларов. Проблемы на рынке биткойнов усугубляются на фоне усиления FUD и активности китов Более широкий рынок криптовалют испытывает повышенный страх, неуверенность и сомнения (FUD), что нашло отражение в падении цены Биткойна ниже отметки в 64 500 долларов. Данные внутри сети также выявили значительную активность среди биткойн- китов, владеющих значительными объемами BTC. Согласно информации, предоставленной генеральным директором CryptoQuant Ки Ён Джу на X, за последние две недели киты продали BTC примерно на 1,2 миллиарда долларов. Эта тенденция обналичивания совпала с отрицательными чистыми потоками в спотовых BTC ETF.  Джу предупредил, что если эта ликвидность на стороне продаж не будет поглощена, это может привести к тому, что больше BTC будет размещено на биржах, что потенциально повлияет на рынок еще больше. В последние недели цена основной криптовалюты столкнулась с трудностями. 21 июня стоимость Биткойна упала до 63 500 долларов. По данным CoinGecko, с тех пор он немного восстановился, прибавив около 750 долларов за последние 24 часа. Биткойн 7-дневный график цен | Источник: CoinGecko Тем не менее, за последние 14 дней монета упала на 7,2%, что отражает продолжающуюся волатильность на рынке.
    • Сначала лучше проработать свои стратегии на демо-счете, и когда уже будешь уверен, можно заходить с реальным депозитом.
    • Обменный сервис Delets предлагает выгодные условия для обмена криптовалют и фиатных денег. На сайте представлены курсы обмена более чем 35 популярных криптовалют, таких как Bitcoin, Ethereum, USDT, а также возможность вывода средств на рублёвые карты Visa, Mastercard, МИР, на Турецкие лиры, на Белорусские рубли, Казахтанские тенге и другие платёжные системы. Сервис работает круглосуточно без выходных, что позволяет пользователям совершать операции в любое удобное время.Наши контактыПочта: support@delets.online
    • Майкл Делл, основатель и генеральный директор Dell Technologies, вызвал ажиотаж любопытным сообщением, предполагающим, что его компания рассматривает биткойн как возможную инвестицию. 21 июня Делл написал в Твиттере: «Дефицит создает ценность» — фраза, которую часто ассоциируют с Биткойном из-за ограничения его предложения в 21 миллион токенов на фоне растущего спроса . Его твит быстро привлек внимание Майкла Сэйлора, известного сторонника Биткойна как корпоративного актива. Источник: Х Последующий репост ответа Сэйлора Деллу в сочетании с изображением Cookie Monster, поедающего биткойны, вызвал на рынке ажиотаж в ожидании того, что он может инвестировать в криптовалюту в будущем либо из своего личного инвестиционного портфеля, либо через свою компанию.  Биткойн-твит Делла появился после того, как он вывел в фиат 2,1 миллиарда долларов Недавние финансовые шаги Dell создают сильный фон для потенциальных инвестиций в биткойн. Например, акции Dell Technologies выросли почти в пять раз с момента их возвращения на публичный рынок в декабре 2018 года. Только за последние 18 месяцев обыкновенные акции компании класса C выросли с $40 до $145 за акцию, увеличив чистую стоимость Dell в четыре раза примерно до 120 миллиардов долларов, что делает его 14-м самым богатым человеком в мире . Еженедельный график динамики акций DELL.   На данный момент в 2024 году Dell вывела в фиат 2,1 миллиарда долларов, сохранив при этом 58% акций компании. Другими словами, у него есть избыточный капитал, который можно использовать на рынке биткойнов, особенно на фоне растущего долга США, который может негативно повлиять на стоимость доллара США в будущем.   Что, если в портфеле Dell Technologies будет 1% биткойнов? Джо Консорти, аналитик Bitcoin Layer — глобальной фирмы, занимающейся макроэкономическими исследованиями, — утверждает , что Биткойн может получить выгоду из таких корпораций, как Dell Technologies, учитывая их потенциал для получения дополнительных денежных средств благодаря появлению технологий искусственного интеллекта, позволяющих сократить расходы. «Высокая прибыль от их резервов во время бума искусственного интеллекта обеспечит дополнительный буфер для распределения капитала в то время, когда расходы и масштабирование в производстве компьютеров не были такими быстрыми и ожесточенными в течение десятилетий», — написал он, добавив: Денежные средства и их эквиваленты Dell Technologies. Источник: Блумберг Для корпораций владение даже небольшим процентом баланса в биткойнах — скажем, 1% — может дать им значительное преимущество перед конкурентами. Например, если Dell Technologies направит 1% своих денежных резервов в размере $5,83 млрд на Биткойн, что составляет $58,3 млн, она потенциально может увидеть, что эти инвестиции вырастут до $118,7 млн всего за один год, исходя из исторической годовой доходности Биткойна, составляющей примерно 103,5% за последний год. прошлое десятилетие. Совокупный годовой темп роста Биткойна. Источник: Curve.eu Исторические данные показывают, что корпорации могут получить большую выгоду от инвестиций в биткойны. Например, MicroStrategy Сэйлора может похвастаться ошеломляющей прибылью в размере около $6,33 млрд от стратегических приобретений BTC за последние годы. Доходность BTC MicroStrategy на акцию MSTR. Источник: MSTR-Трекер.com В то же время ведущие инвесторы, такие как Уоррен Баффет, воздерживаются от покупки биткойнов. Гипотетически Баффет увеличил бы доходность своей компании Berkshire Hathaway с 214% до 240% за пять лет, если бы он выделил хотя бы 1% ее чистого портфеля в биткойны. «Биткойн — это единственный лучший актив, с помощью которого можно получить огромную прибыль с поправкой на риск в течение любого многолетнего периода», — отметил Консорти, добавив:
    • Forex and Cryptocurrency Forecast for June 24 - 28, 2024 EUR/USD: Eurozone - Rising Inflation, Falling Economy   As revised Eurostat data published on Monday, June 17, showed, inflation (CPI) in the 20 Eurozone countries accelerated to 2.6% (y/y) in May, compared to 2.4% in April when it was at its lowest since November 2023. The consumer price index in the services sector increased annually from 3.7% to 4.1%. Core inflation, excluding the cost of food and energy (CPI Core), accelerated to 2.9% in May, compared to 2.7% in April - the lowest since February 2022.   Such growth in consumer prices gave euro bulls a faint hope that the European Central Bank (ECB) would slow down the rate cut. Against this backdrop, EUR/USD went up, reaching a local high of 1.0760. However, the business activity statistics (PMI) in the Eurozone, released on June 21, showed that to support the economy, the rate needs to be reduced further, not frozen at the current level of 4.25%.   In Germany, the locomotive of the European economy, the PMI index in the manufacturing sector was 43.4 points in June, worsening compared to the May figure of 45.4 and significantly below the forecast of 46.4. The PMI index in the services sector fell from 54.2 to 53.5, failing to meet market expectations of 54.4. The preliminary Composite PMI index for Germany also declined in June to 50.6 points, against the forecast of 52.7 and 52.4 in May. It is worth noting that all three indicators were the weakest in the last two months.   Eurozone statistics, in general, were not very encouraging. According to preliminary data, the PMI index in the manufacturing sector fell from 47.3 in May to 45.6 in June, missing the forecast of 47.9. The PMI index in the services sector decreased from 53.2 to 52.6 (forecast 53.5). The Composite PMI fell from 52.2 to 50.8 (forecast 52.5) and nearly reached the critical mark of 50.0 points, separating progress from regression.   After these data were released, market participants awaited similar statistics from the USA, which were to be published at the end of the workweek. The Composite PMI showed that business activity in the US private sector, unlike the Eurozone, continues to grow confidently. According to preliminary estimates, this indicator increased from 54.5 in May to 54.6 in June. The PMI in the manufacturing sector grew from 51.3 to 51.7 over the same period, while the services sector business activity index increased from 54.8 to 55.1. All these indicators exceeded analysts' expectations (51.0 and 53.4, respectively).   In addition to PMI data, the Fed's monetary policy report at the end of Friday also drew significant interest. Following its publication, EUR/USD ended the week at 1.0691. Regarding the analysts' forecast for the near term, as of the evening of June 21, it remained unchanged from seven days ago. Thus, 60% of experts voted for the pair's decline, 20% for its growth, and another 20% remained neutral. In technical analysis, 100% of trend indicators and oscillators on D1 sided with the dollar and turned red, although a quarter of the latter are in the oversold zone. The nearest support for the pair is in the 1.0665-1.0670 zone, followed by 1.0600-1.0615, 1.0565, 1.0495-1.0515, 1.0450, and 1.0370. Resistance zones are located at 1.0760, then at 1.0810, 1.0890-1.0915, 1.0945, 1.0980-1.1010, 1.1050, and 1.1100-1.1140.   Next week, there is plenty of interesting and important information expected from the USA. On Tuesday, June 25, the US Consumer Confidence Index will be published. On Wednesday, June 26, we will learn the results of the US bank stress test. On Thursday, June 27, data on the US GDP for Q1 2024 and the number of initial jobless claims in the country will be released. Finally, at the end of the workweek, on Friday, June 28, data on the US consumer market, including such an important inflation indicator as the Core Personal Consumption Expenditure Index, will be published.   GBP/USD: How the Interest Rate Will Fall   On Wednesday, June 19, a day before the Bank of England (BoE) meeting, consumer inflation (CPI) data was published in the UK. Overall, the picture was quite good. The consumer price index remained at the previous level of 0.3% month-on-month, lower than the projected 0.4%. Year-on-year, the CPI fell from 2.3% to 2.0%, reaching the central bank's target for the first time since October 2021. The core index (Core CPI), excluding volatile components such as food and energy prices, also showed a noticeable decrease from 3.9% to 3.5% (y/y).   The still high level of inflation in the services sector was disappointing. This indicator was higher than forecasted in the central bank's May report and amounted to 5.7% (y/y) against the expected 5.3%. "Indicators such as rent growth remain quite high. [...] These data confirm that the Bank of England will not lower rates at tomorrow's meeting," commented ING Bank strategists on the published statistics on June 19, and they were right.   At its meeting on Thursday, June 20, the Bank of England left the key interest rate unchanged for the seventh consecutive time, at 5.25%. Seven members of the Monetary Policy Committee voted for such a decision, two votes were cast for lowering the rate, and zero votes for increasing it. According to several policymakers, such a decision by the regulator was "finely balanced."   The latest data on inflation in the services sector is unlikely to prevent the BoE from starting a cycle of easing its monetary policy (QE) in the second half of the year. Especially since, according to the Committee members, the higher-than-expected CPI was due to one-off wage payment factors.   If the parliamentary elections in the UK on July 4 and the inflation report on July 17 do not present significant surprises, the Bank of England is expected to begin lowering rates as early as August. As ING Bank strategists write, "markets are pricing in a 43% probability of the first rate cut in August and expect easing by 46 basis points (bps) by the end of the year." TDS analysts, in turn, give the following forecast: "We expect a 15 bps rate cut by the August meeting and around 50 bps in total for 2024." Several other market participants' forecasts also suggest a reduction of about 30 bps by November.   On the day after the BoE meeting, Friday, June 21, the Office for National Statistics (ONS) published fresh data on retail sales in the UK, which were significantly higher than forecasted. In May, they increased by 2.9% (m/m) after falling by -1.8% in April, with markets expecting a growth of 1.5%. The core retail sales index, excluding automotive fuel, also grew by 2.9% (m/m) against a previous decline of -1.4% and a market forecast of 1.3%. Year-on-year, retail sales increased by 1.3% compared to April's decrease of -2.3%, while core retail sales rose by 1.2% (y/y) against -2.5% a month earlier.   Preliminary business activity (PMI) data were mixed. However, overall, they showed that the UK's economy is on the rise. PMI in the manufacturing sector increased from 51.2 to 51.4 points (forecast 51.3). Business activity in the services sector amounted to 51.2, below the previous value of 52.9 and the forecast of 53.0. The Composite PMI showed a slight decline to 51.7 against the forecast of 53.1 and 53.0 a month earlier. Despite the last two indicators being below previous values, they still remain above the 50.0 horizon separating economic growth from decline.   Against this backdrop, the pound attempted to recoup some losses but failed, and GBP/USD ended the week at 1.2643, turning strong support in the 1.2675 zone into resistance.   The analysts' forecast for the near term looks neutral: 50% of experts voted for the dollar to strengthen, while the same number (50%) preferred the British currency.   As for technical analysis on D1, the advantage is on the dollar's side. Among trend indicators, the ratio of forces between red and green is 75% to 25% in favour of the former. Among oscillators, 85% point south (a quarter signals the pair is oversold) and only 15% look north. If the pair continues to fall, it will encounter support levels and zones at 1.2575-1.2610, 1.2540, 1.2445-1.2465, 1.2405, and 1.2300-1.2330. In the event of the pair's growth, it will face resistance at levels 1.2675, 1.2740-1.2760, 1.2800-1.2820, 1.2850-1.2860, 1.2895-1.2900, 1.2965-1.2995, 1.3040, and 1.3130-1.3140.   As for the events of the coming week, not many are expected. Among the most important is the publication of the UK's GDP data on Friday, June 28.   USD/JPY: BoJ Rate Hike Chances Close to Zero     At its meeting on June 13-14, the Bank of Japan (BoJ) kept the interest rate unchanged at 0.1%. Recall that in March this year, the central bank made a "bold" move by raising the rate for the first time since 2007 (it had been at a negative level of -0.1% since 2016). However, after this single rate hike in 17 years, the BoJ is unlikely to continue raising it in the foreseeable future, no matter how much some analysts and investors might want it.   Such desires and forecasts are popular due to the very low level of the Japanese currency. In early 2011, USD/JPY traded around 76.00, and since then, the yen has weakened more than twofold – on April 29, 2024, the pair reached a level of 160.22, the highest since 1986. This negatively affects national businesses. The benefits of a weak yen for exports do not cover the negatives for imports, as the trade balance is negative; the country imports more than it exports. Expensive imports, primarily raw materials and energy, reduce production profitability. GDP growth rates are falling – in Q1 2024, this indicator showed an economic contraction to -1.8% (y/y) compared to +0.4% in the previous quarter. Additionally, the national debt relative to GDP is approaching 265%.   In such a situation, the economy needs support, not restraint by raising the key interest rate. Moreover, compared to other G10 countries, inflation in Japan is low and has been steadily declining in recent months. According to fresh data, the national CPI index, excluding food and energy prices, fell from 2.4% to 2.1%. Moreover, in June, it could fall below the BoJ's target level of 2.0%. Thus, combating inflation by raising rates is unnecessary and even harmful. But how can the yen's position be strengthened then?   Another method besides tightening monetary policy (QT) is currency interventions. Japan's top currency diplomat Masato Kanda stated on June 20 that the government "will respond carefully to excessive currency movements" and that he "has never felt limited in the potential for currency interventions" and that the interventions conducted in May "were quite effective in combating excessive currency movements caused by speculators." The words are beautiful. However, looking at the chart, one would argue with the official about the effectiveness of the interventions. Of course, USD/JPY retreated from the 160.00 mark for a while. But this period was quite short, and now it is again approaching this height. One can also recall similar actions in previous years, which only temporarily restrained the national currency's weakening.   This time, it seems officials have come up with another way to increase the effectiveness of monetary policy without changing rates. According to Reuters, the Ministry of Finance's commission is likely to urge the government to issue shorter-maturity debt obligations to reduce the risk of interest rate changes. (For reference, the yield on 10-year Japanese government bonds currently exceeds 0.9%, nine times the central bank's rate). The last chord of the past week for USD/JPY was set at 159.79. The continuation of the Fed's tight policy, confirmed at the June meeting, and the BoJ's ongoing soft policy still play in favour of the dollar. (Although, of course, new currency interventions are not excluded). Economists from Singapore's United Overseas Bank (UOB) believe that only a breakthrough of support at 156.50-156.80 will indicate that the pair's current upward momentum has faded.   The median forecast of experts for the near term is as follows: 75% of them voted for the pair's move south and the yen's strengthening (apparently expecting new interventions), while the remaining 25% pointed north. Indicators show the opposite picture; they have not even heard about interventions. Therefore, all 100% of trend indicators and oscillators on D1 are green, although 20% of the latter are in the overbought zone. The nearest support level is around 158.65, followed by 157.60-158.20, 156.80-157.05, 156.00-156.10, 155.45-155.80, 154.50-154.70, 153.60, 152.85, 151.85, 150.80-151.00, 149.70-150.00, 148.40, 147.60, and 146.50-147.10. The nearest resistance is in the 160.00-160.20 zone, followed by 162.50.   The upcoming week looks busy on Friday, June 28. On this day, data on consumer inflation (CPI) in the Tokyo region will be published, as well as data on industrial production volumes and the labour market situation in Japan. No other important economic statistics are planned for the coming days.   CRYPTOCURRENCIES: Patience, Patience, and More Patience   In the last review, we published a forecast by MN Capital founder Michael van de Poppe, who expected BTC/USD to fall to the $60,000-65,000 range. The analyst was essentially correct – the week's low was recorded on Friday, June 21, when the price dropped to around $63,365.   This time, we want to draw attention to the forecast of another influencer, the president of Euro Pacific Capital and a fierce opponent of cryptocurrencies, Peter Schiff. We have quoted his apocalyptic predictions multiple times. This time, the financier outlined a possible hedge fund strategy that would lead to bitcoin's collapse. According to him, investors in exchange-traded BTC spot ETFs treat digital gold as a speculative asset. Schiff noted that bitcoin has been in a "sideways" trend for the third month, trading below the March high. With such dynamics, investors might lose patience and decide to close positions at some point, causing BTC quotes to collapse amid a lack of liquidity.   It must be said that Schiff's negative forecast has some basis – in recent days, American spot Bitcoin ETFs have indeed shown an outflow of funds. Since June 7, their cumulative balance has decreased by $879 million to $15 billion. Over the past two weeks, long-term whale holders have sold digital gold worth $1.2 billion, with more than $370 million attributed to GBTC. Thus, whales and ETFs have collectively created downward pressure worth $1.7 billion during this time.   Of course, a cryptocurrency market crash is unlikely, no matter how much Peter Schiff might want it. However, the current situation raises concerns among many specialists. Usually, bullish cryptocurrency markets are fueled by general enthusiasm around the digital coin. However, analysts at IntoTheBlock observe that despite a surge in activity among major holders (whales) earlier this year, there is no influx of new participants in the market. In fact, the number of primary BTC users has sharply dropped to multi-year lows, falling to levels seen during the bear market of 2018. This lack of growth creates a critical misunderstanding of why investors are not buying bitcoins. "Retail investors remain on the sidelines," IntoTheBlock notes.   Perhaps it is all due to the relaxed summer mood, general macroeconomic gloom, lack of sources of fresh money inflow, and other drivers. But everything can change, of course. Speaking at the BTC Prague 2024 conference, MicroStrategy CEO Michael Saylor reiterated that bitcoin should be considered one of the safest assets today.   When asked by journalists whether it is time to sell BTC, the entrepreneur replied that the asset currently lacks fundamental growth catalysts, but a price rise should be expected soon. According to Michael Saylor, those who show patience will later receive enormous profits from owning digital gold. (For reference: MicroStrategy is the largest holder of bitcoins among public companies, with 205,000 BTC on its balance sheet, worth over $13 billion). Analysts at the financial company Bernstein have raised the target price of the first cryptocurrency to $200,000 by the end of 2025. The forecast is driven by expectations of "unprecedented demand from spot bitcoin ETFs managed by BlackRock, Fidelity, Franklin Templeton, and others." "We believe that ETFs have become a turning point for cryptocurrencies, causing structural demand from traditional pools of capital. In total, ETFs have attracted around $15 billion in new net funds," Bernstein's explanatory note reads.   According to the company's experts, bitcoin is in a new bullish cycle. They called the halving a unique situation where natural selling pressure from miners is halved or more, and new demand catalysts for cryptocurrency appear, leading to exponential price movements. Analysts pointed to previous cycles: in 2017, digital gold rose to a high roughly five times the marginal production cost and then fell to a low of 0.8 of this figure in 2018. "During the 2024-2027 cycle, we expect bitcoin to rise to 1.5 times this metric, implying a cycle high of $200,000 by mid-2025," Bernstein believes.   For now, at the time of writing, on the evening of Friday, June 21, the BTC/USD pair is far from $200,000 and trades at $64,150. The total cryptocurrency market capitalization stands at $2.34 trillion ($2.38 trillion a week ago). The Bitcoin Fear & Greed Index dropped from 70 to 63 points over 7 days but remains in the Greed zone.   To conclude the review, here's news from the world of Artificial Intelligence. For many years, there have been ongoing debates about the imperfections of the first cryptocurrency's concept. Some accuse the coin's creator, Satoshi Nakamoto, of shortsightedness, while others criticize the project's technical execution. To find out what's wrong with bitcoin, the editorial team at BeInCrypto asked the latest version of ChatGPT to analyze the cryptocurrency's whitepaper published by Nakamoto in October 2008. As a result, Artificial Intelligence found several shortcomings and errors in the main document of the crypto industry, some of which seem quite serious:   1. The 51% rule. The whitepaper claims that the network is secure if more than 50% of the power is controlled by honest participants. However, practice has shown that under certain conditions, attacks are possible with fewer resources.   2. Anonymity. The document mentions user anonymity, but bitcoin provides only pseudonymity. Transactions can be traced back to specific users.   3. Scalability. The document did not foresee scalability issues that became apparent with the network's popularity growth. High transaction volumes lead to delays and increased fees.   4. Software updates. The document does not address the need for regular software updates to maintain network security and implement new features.   5. Fork resistance. The document does not consider risks associated with network hard forks. Forks like Bitcoin Cash polarize the community, potentially reducing the network's value.   6. Regulation and legal issues. The document does not mention potential legal and regulatory obstacles for bitcoin. Since its publication, many countries have introduced or are considering regulatory measures.   7. Mining difficulty. The document's author did not foresee the significant increase in mining difficulty and the energy consumption changes. Modern mining requires enormous computing power and electricity. According to Greenpeace, in 2023, global bitcoin mining consumed approximately 121 TWh of electricity, comparable to the energy consumption of a country like Poland. This has led to significant CO2 emissions and serious atmospheric pollution, as stated in Greenpeace's report. NordFX Analytical Group   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/ 
×
×
  • Create New...