#WeeklyCryptoNews
A lot of shaking events happened in the cryptocurrency market during the week. Be informed!
🔸 Why now? Bloomberg and some other media gave information that Bitfinex was called to court by the Commodity Futures Trading Commission as it propped up prices of cryptocurrencies by issuing a virtual currency Tether that was not secured. The interesting fact is Bitfinex received a court summon in December, but news appeared only now. It brings some thoughts.
🔸 Even more. Tether stopped cooperation with the audit company Friedman LLP. The official reason is the inability of the company to conduct an audit in a timely manner. Bad situation for Tether because of the talks around unsecured tokens USDT.
🔸 More ban on cryptocurrency. Ads of cryptocurrency and ICO are banned on Facebook and Instagram. The aim of it is to protect users from scam. However, the ban is supposed to be canceled soon after good offers are filtered from the bad ones.
🔸 No more anonymity. Bitfury Group announced a service Crystal for bitcoin-transactions tracking. Everyone will be able to identify suspicious transfers and addresses that may have been involved in illegal activities.
🔸 Delay. ICO KODAKCoin that was appointed on January 31 is delayed by several weeks because of huge numbers of applications (40000). Kodak takes time to check investors’ reliability.
🔸 El Petro will exist! The pre-ICO of the national cryptocurrency El Petro will be held on February 20. Emission of the cryptocurrency will be 100 million tokens: 38.4% is planned to be sold during pre-ICO, 44% – 1 month after, 17.6% will be kept on the account of the state administration on cryptocurrencies. The starting price is $60.
🔸 Japanese financial service company is going to inspect all crypto exchanges after the hack of Coincheck. Maybe it will help to prevent other thefts.
🔸 Is LiteMonero possible? The developer of Litecoin Charlie Lee and Monero Riccardo Spagni spoke about their plans to develop development a protocol for atomic swaps between two cryptocurrencies and combining of two teams.
🔸 Positive prospects at the end. The government of the capital of Taiwan and blockchain platform IOTA agreed on creating a “smart city” in Taipei. Firstly, they will introduce the ID technology TangleID for city residents.
🔻 Bitcoin $8514 (-14.87%)
🔻 Ethereum $905.48 (-17.82%)
🔻 DASH $545 (-21.15%)
🔻 Litecoin $121.27 (-25.02%)
@fbsanalytics
A lot of shaking events happened in the cryptocurrency market during the week. Be informed!
🔸 Why now? Bloomberg and some other media gave information that Bitfinex was called to court by the Commodity Futures Trading Commission as it propped up prices of cryptocurrencies by issuing a virtual currency Tether that was not secured. The interesting fact is Bitfinex received a court summon in December, but news appeared only now. It brings some thoughts.
🔸 Even more. Tether stopped cooperation with the audit company Friedman LLP. The official reason is the inability of the company to conduct an audit in a timely manner. Bad situation for Tether because of the talks around unsecured tokens USDT.
🔸 More ban on cryptocurrency. Ads of cryptocurrency and ICO are banned on Facebook and Instagram. The aim of it is to protect users from scam. However, the ban is supposed to be canceled soon after good offers are filtered from the bad ones.
🔸 No more anonymity. Bitfury Group announced a service Crystal for bitcoin-transactions tracking. Everyone will be able to identify suspicious transfers and addresses that may have been involved in illegal activities.
🔸 Delay. ICO KODAKCoin that was appointed on January 31 is delayed by several weeks because of huge numbers of applications (40000). Kodak takes time to check investors’ reliability.
🔸 El Petro will exist! The pre-ICO of the national cryptocurrency El Petro will be held on February 20. Emission of the cryptocurrency will be 100 million tokens: 38.4% is planned to be sold during pre-ICO, 44% – 1 month after, 17.6% will be kept on the account of the state administration on cryptocurrencies. The starting price is $60.
🔸 Japanese financial service company is going to inspect all crypto exchanges after the hack of Coincheck. Maybe it will help to prevent other thefts.
🔸 Is LiteMonero possible? The developer of Litecoin Charlie Lee and Monero Riccardo Spagni spoke about their plans to develop development a protocol for atomic swaps between two cryptocurrencies and combining of two teams.
🔸 Positive prospects at the end. The government of the capital of Taiwan and blockchain platform IOTA agreed on creating a “smart city” in Taipei. Firstly, they will introduce the ID technology TangleID for city residents.
🔻 Bitcoin $8514 (-14.87%)
🔻 Ethereum $905.48 (-17.82%)
🔻 DASH $545 (-21.15%)
🔻 Litecoin $121.27 (-25.02%)
@fbsanalytics
#EconomicCalendar
Today is the NFP day! American Nonfarm Payrolls will be out at 15:30 MT time.
Note that this time traders will focus on wage growth (Average hourly Earnings) and Unemployment Rate – two other labor market indicators which will also come out at 15:30 MT time.
Scenarios:
☀ Positive for USD: wages rise by 0.3% or more (especially if NFP is above forecast and/or unemployment rate declines)
☁ Negative for USD: wages rise by 0.2% or less (especially is NFP is below forecast and/or unemployment rate doesn’t change)
Pairs for trading: USD/JPY, EUR/USD
Today is the NFP day! American Nonfarm Payrolls will be out at 15:30 MT time.
Note that this time traders will focus on wage growth (Average hourly Earnings) and Unemployment Rate – two other labor market indicators which will also come out at 15:30 MT time.
Scenarios:
☀ Positive for USD: wages rise by 0.3% or more (especially if NFP is above forecast and/or unemployment rate declines)
☁ Negative for USD: wages rise by 0.2% or less (especially is NFP is below forecast and/or unemployment rate doesn’t change)
Pairs for trading: USD/JPY, EUR/USD
#forextips
💡 5 tips on drawing Fibonacci levels
Do you use Fibonacci retracement tool in your market analysis? Here are some hints:
1. Fibo levels are always drawn from the left to the right. Candlesticks’ wicks count.
2. Pay attention to longer-term trends: when different Fibonacci levels converge, they become more important.
3. Fibonacci alone is not enough for a good trading decision: use other indicators for confirmation.
4. Avoid using Fibos over short time intervals.
5. Think of each Fibo level more as an area rather than an exact level.
💡 5 tips on drawing Fibonacci levels
Do you use Fibonacci retracement tool in your market analysis? Here are some hints:
1. Fibo levels are always drawn from the left to the right. Candlesticks’ wicks count.
2. Pay attention to longer-term trends: when different Fibonacci levels converge, they become more important.
3. Fibonacci alone is not enough for a good trading decision: use other indicators for confirmation.
4. Avoid using Fibos over short time intervals.
5. Think of each Fibo level more as an area rather than an exact level.
#WeeklyCryptoNews
The fall of Bitcoin below $6000 this week shocked not only Bitcoin fans. Let’s look what else can surprise us!
🔸 China gets stricter and stricter. The Chinese government is going to ban the access to all internal and external platforms related to cryptocurrencies and ICO.
🔸 US national level of cryptocurrency restrictions? Heads of the Securities and Exchange Commission and the Commodity Futures Trading Commission asked the Congress to consider federal supervision for digital-currency trading platforms. However, the Congress decided to not enact a ban on the national level yet. The chair of CFTC Giancarlo even said that Bitcoin had an important function in the global markets.
🔸 The Facebook ban is not so strict. The social network's ban on advertising ICOs and cryptocurrencies can be avoided by simple mistakes such as “zero” instead of “o” in the world Bitcoin. A bot will not recognize the world and will let post a publication.
🔸 Litecoin plans to release a special payment service LitePay soon. Users will be able to exchange LiteCoins for dollars and pay with them wherever they want. Moreover, they will be able to withdraw cash from an ordinary ATM.
🔸 Ripple is growing. Ripple made an arrangement with the National bank of Abu-Dhabi. Ripple technology will be integrated into a payment system of the bank.
🔸 Kodak perspectives are not so positive. The investment company Kerrisdale Capital said that Kodak does not have financial and technological resources to implement the blockchain platform KODAKOne. The Kerrisdale Capital is sure that the Kodak needs it just to avoid a default.
🔸 Hidden mining is everywhere. Firstly, malware ADB.miner that is used for hidden mining Monero attacked Androids. After that, it was found on MacOS.
🔸 A classical pump. During a day the price of the E-coin rose from $6 to $290 and then fell to $3.
🔸 At the end, some predictions for Bitcoin. The famous crypto trader and analyst Tone Vays predicts 4 more weeks of fall for Bitcoin.
🔸 Someone is over-optimistic. For example, Mr. McAfee (the founder of the software company McAfee.Inc) said that he will eat his own man meat if one bitcoin isn’t priced at $1 million by 2020.
🔻 Bitcoin $8018 (-1.92%)
🔺 DASH $586.76 (+9.41%)
🔻 Ethereum $810.01 (-1.89%)
🔺 Litecoin $144.00(+1.07%)
@fbsanalytics
The fall of Bitcoin below $6000 this week shocked not only Bitcoin fans. Let’s look what else can surprise us!
🔸 China gets stricter and stricter. The Chinese government is going to ban the access to all internal and external platforms related to cryptocurrencies and ICO.
🔸 US national level of cryptocurrency restrictions? Heads of the Securities and Exchange Commission and the Commodity Futures Trading Commission asked the Congress to consider federal supervision for digital-currency trading platforms. However, the Congress decided to not enact a ban on the national level yet. The chair of CFTC Giancarlo even said that Bitcoin had an important function in the global markets.
🔸 The Facebook ban is not so strict. The social network's ban on advertising ICOs and cryptocurrencies can be avoided by simple mistakes such as “zero” instead of “o” in the world Bitcoin. A bot will not recognize the world and will let post a publication.
🔸 Litecoin plans to release a special payment service LitePay soon. Users will be able to exchange LiteCoins for dollars and pay with them wherever they want. Moreover, they will be able to withdraw cash from an ordinary ATM.
🔸 Ripple is growing. Ripple made an arrangement with the National bank of Abu-Dhabi. Ripple technology will be integrated into a payment system of the bank.
🔸 Kodak perspectives are not so positive. The investment company Kerrisdale Capital said that Kodak does not have financial and technological resources to implement the blockchain platform KODAKOne. The Kerrisdale Capital is sure that the Kodak needs it just to avoid a default.
🔸 Hidden mining is everywhere. Firstly, malware ADB.miner that is used for hidden mining Monero attacked Androids. After that, it was found on MacOS.
🔸 A classical pump. During a day the price of the E-coin rose from $6 to $290 and then fell to $3.
🔸 At the end, some predictions for Bitcoin. The famous crypto trader and analyst Tone Vays predicts 4 more weeks of fall for Bitcoin.
🔸 Someone is over-optimistic. For example, Mr. McAfee (the founder of the software company McAfee.Inc) said that he will eat his own man meat if one bitcoin isn’t priced at $1 million by 2020.
🔻 Bitcoin $8018 (-1.92%)
🔺 DASH $586.76 (+9.41%)
🔻 Ethereum $810.01 (-1.89%)
🔺 Litecoin $144.00(+1.07%)
@fbsanalytics
❤1
🇯🇵 USD/JPY: yen crashes obstacles
USD fell to 15-month low versus Japanese yen. The next important support is at the psychological level of 105.00.
🔸 No interventions yet. Japanese Finance Minister Taro Aso said today that he doesn’t see current yen moves as being so strong or weak that would warrant intervention, adding that there was no plan now to respond to Forex moves.
🔸 Many yen bulls initially entered the trade predicting the JPY would rise as the Bank of Japan moves toward removing its record stimulus.
🔸 Uncertainty comes from the future BOJ leadership: current Governor Kuroda was reappointed, but the identities of his two deputies are still unknown.
🔸 Higher inflation figures didn’t help the USD as traders focus on American current account and budget deficits.
Trade ideas for USD/JPY:
SELL 107.40 SL 107.95 TP1 106.40 TP2 105.35 TP3 102.80
SELL 108.05 SL 108.6 TP1 107.00 TP2 106.40 TP3 105.35
USD fell to 15-month low versus Japanese yen. The next important support is at the psychological level of 105.00.
🔸 No interventions yet. Japanese Finance Minister Taro Aso said today that he doesn’t see current yen moves as being so strong or weak that would warrant intervention, adding that there was no plan now to respond to Forex moves.
🔸 Many yen bulls initially entered the trade predicting the JPY would rise as the Bank of Japan moves toward removing its record stimulus.
🔸 Uncertainty comes from the future BOJ leadership: current Governor Kuroda was reappointed, but the identities of his two deputies are still unknown.
🔸 Higher inflation figures didn’t help the USD as traders focus on American current account and budget deficits.
Trade ideas for USD/JPY:
SELL 107.40 SL 107.95 TP1 106.40 TP2 105.35 TP3 102.80
SELL 108.05 SL 108.6 TP1 107.00 TP2 106.40 TP3 105.35
Bitcoin recovered from lows. Is the selloff over?
http://telegra.ph/CAN-BITCOIN-RETURN-TO-UPTREND-02-15
http://telegra.ph/CAN-BITCOIN-RETURN-TO-UPTREND-02-15
Telegraph
CAN BITCOIN RETURN TO UPTREND?
10:03 15.02.2018 A lot has happened to Bitcoin since the start of 2018. The recent weeks haven’t been easy for the cryptocurrency: BTC/USD fell to $6,000 on February 6. Since then, some recovery took place. Yet, the highs of 2017 in the $20K area remain far…
#WeeklyCryptoNews
This week Bitcoin is climbing to $10,000. Let’s look if we have any other positive news.
🔸 South Korea is melting. The government officially answered to a petition in that citizens asked not to enact too strict regulation. It said that its aim is to ensure transparency of cryptocurrency transactions within the regulatory framework and prevent illegal activities in the digital currency industry. In early February, the Prime Minister claimed that crypto exchanges will not be closed.
🔸 Japan is loyal to cryptocurrencies. The Bank of Japan Governor said that cryptocurrencies are not a threat to the existing financial system.
🔸 Citibank India became the first big bank to forbid its clients to purchase cryptocurrencies by both credit and debit cards. JPMorgan Chase, Bank of America, Lloyds and others banned only credit payments.
🔸 Another ban on payments by cards. The Thailand central bank does not allow state banks to work with cryptocurrency platforms. Clients aren’t allowed to buy cryptocurrencies by credit cards.
🔸 During several hours after the ban on withdrawal of the yen from the crypto-exchange Coincheck was lifted, site users took away the amount equal to $372 million. The withdrawal of cryptocurrencies is still forbidden, that is why the crypto-exchange is being sued.
🔸 New hard fork. The hard fork Litecoin Cash is anticipated at night on February 19. Its developers promise to lower the price of transactions by 90%. However, the hard fork is not related to the Litecoin group. Earlier Charlie Lee said that any hard fork of Litecoin can be a scam.
🔸 A representative of Microsoft management Alex Simons said that any improvements by hard fork are ineffective. The future is in blockchains of the second level such as the Lighting Network. He also announced that Microsoft is working on its own blockchain protocol.
🔸 Using cryptocurrencies for offshores is becoming more popular. An appearance of such anonymous tokens as ZCash and Monero supports it because their technology does not let to track their movement.
🔻 Bitcoin $9,800 (-0.05%)
🔻 DASH $682.45 (-0.42%)
🔻 Ethereum $918 (-1.95%)
🔻 Litecoin $213.32(-9.10%)
@fbsanalytics
This week Bitcoin is climbing to $10,000. Let’s look if we have any other positive news.
🔸 South Korea is melting. The government officially answered to a petition in that citizens asked not to enact too strict regulation. It said that its aim is to ensure transparency of cryptocurrency transactions within the regulatory framework and prevent illegal activities in the digital currency industry. In early February, the Prime Minister claimed that crypto exchanges will not be closed.
🔸 Japan is loyal to cryptocurrencies. The Bank of Japan Governor said that cryptocurrencies are not a threat to the existing financial system.
🔸 Citibank India became the first big bank to forbid its clients to purchase cryptocurrencies by both credit and debit cards. JPMorgan Chase, Bank of America, Lloyds and others banned only credit payments.
🔸 Another ban on payments by cards. The Thailand central bank does not allow state banks to work with cryptocurrency platforms. Clients aren’t allowed to buy cryptocurrencies by credit cards.
🔸 During several hours after the ban on withdrawal of the yen from the crypto-exchange Coincheck was lifted, site users took away the amount equal to $372 million. The withdrawal of cryptocurrencies is still forbidden, that is why the crypto-exchange is being sued.
🔸 New hard fork. The hard fork Litecoin Cash is anticipated at night on February 19. Its developers promise to lower the price of transactions by 90%. However, the hard fork is not related to the Litecoin group. Earlier Charlie Lee said that any hard fork of Litecoin can be a scam.
🔸 A representative of Microsoft management Alex Simons said that any improvements by hard fork are ineffective. The future is in blockchains of the second level such as the Lighting Network. He also announced that Microsoft is working on its own blockchain protocol.
🔸 Using cryptocurrencies for offshores is becoming more popular. An appearance of such anonymous tokens as ZCash and Monero supports it because their technology does not let to track their movement.
🔻 Bitcoin $9,800 (-0.05%)
🔻 DASH $682.45 (-0.42%)
🔻 Ethereum $918 (-1.95%)
🔻 Litecoin $213.32(-9.10%)
@fbsanalytics
🏦 What do the banks say?
We have gathered the most recent Forex forecasts by analysts of the big respected banks. Love them or loathe them, there are some interesting ideas.
🔸 USD
Goldman Sachs: The US dollar fell over the past year not because of the American factors, but as investors preferred other regions like Europe and Japan. The USD may keep weakening even as the Federal Reserve keeps tightening policy.
🔸 EUR
UOB: Selling pressure on EUR/USD will increase if it fails to return above 1.2435 during the next few days.
Scotiabank: EUR/USD is vulnerable to a decline to 1.2207. If the euro falls below this support, it may trigger a "double top" with a target at 1.19.
🔸 GBP
Bank of America Merrill Lynch: The UK government should have strong incentives to get a transition deal relatively early. The outlook for the GBP is bullish, especially against the EUR and the CHF.
🔸 JPY
BNP Paribas: The Japanese yen is now cheap. It may outperform other G10 currencies this year and show higher return than both the EUR and the USD. Although the BOJ’s monetary policy is loose, the next change in policy can only be hawkish. Plus, the JPY will strengthen in case of the market’s risk aversion.
Danske Bank: Japanese investors and companies usually repatriate investments and foreign income going into fiscal year end in Japan by the end of March, which in recent years seems to have been a positive for the yen. USD/JPY will decline to 104 in 1-3 months.
🔸 AUD
TD Securities: The Australian dollar will remain under pressure given that the hurdle for a near-term rate hike by the RBA is higher. AUD/USD supports are located near $US0.7750.
@fbsanalytics
We have gathered the most recent Forex forecasts by analysts of the big respected banks. Love them or loathe them, there are some interesting ideas.
🔸 USD
Goldman Sachs: The US dollar fell over the past year not because of the American factors, but as investors preferred other regions like Europe and Japan. The USD may keep weakening even as the Federal Reserve keeps tightening policy.
🔸 EUR
UOB: Selling pressure on EUR/USD will increase if it fails to return above 1.2435 during the next few days.
Scotiabank: EUR/USD is vulnerable to a decline to 1.2207. If the euro falls below this support, it may trigger a "double top" with a target at 1.19.
🔸 GBP
Bank of America Merrill Lynch: The UK government should have strong incentives to get a transition deal relatively early. The outlook for the GBP is bullish, especially against the EUR and the CHF.
🔸 JPY
BNP Paribas: The Japanese yen is now cheap. It may outperform other G10 currencies this year and show higher return than both the EUR and the USD. Although the BOJ’s monetary policy is loose, the next change in policy can only be hawkish. Plus, the JPY will strengthen in case of the market’s risk aversion.
Danske Bank: Japanese investors and companies usually repatriate investments and foreign income going into fiscal year end in Japan by the end of March, which in recent years seems to have been a positive for the yen. USD/JPY will decline to 104 in 1-3 months.
🔸 AUD
TD Securities: The Australian dollar will remain under pressure given that the hurdle for a near-term rate hike by the RBA is higher. AUD/USD supports are located near $US0.7750.
@fbsanalytics
👍1
#bookshelf
We have started a section where we’ll post our review of the most interesting books for traders.
“Trading in the zone” by Mark Douglas
📚 Who should read this book:
🔸 Traders who just entered the FX market
🔸 Traders who trade for a long time but unsuccessfully
📝 What you will learn:
🔸 How to have confidence in your trades.
🔸 How to free your mind from algorithms and understand that anything can happen on the market.
🔸 How to control your feelings in a case of an unpredictable situation.
🔸 How to ignore useless information.
📗 Short summary
Why traders read a lot of books about trading strategies but lose huge amounts of money? Why do trading tips not work? It is because of everything in our minds!
Mark Douglas will not teach you how to analyze the market. He won’t tell you about the major trends or rules of trading either. He wrote this book to explain how to change your mind to become successful in the FX market.
Mr. Douglas spent about 17 years analyzing the psychological dynamics behind trading. He came to a conclusion that there is a difference between the way our minds work and the logic of the market. Misbalance will lead to loses, so it is highly important to remove it. The aim of the book is to help a trader to create a harmony between him and the market. As it is impossible to change characteristics of the market, traders should change their attitude to it.
Douglas defined the ideas that every trader should follow:
🔸 You don't need to know what's going to happen next to make money.
🔸 Anything can happen.
🔸 Every moment is unique, meaning every edge and outcome is truly a unique experience. The trade either works or it doesn't.
📈 The author concluded that the market is highly unpredictable and results of traders depend on their attitude, not on the strategy they choose. Traders who act without hesitation and with a “cold mind” become successful. Another important fact is that such traders learn how to focus on the information that gives them opportunities to make money and not on the information that creates fears and doubts. In his book, Mark Douglas will teach you how to become such trader.
📌 Summing up, we can say that this book is quite different from other financial books that teach you how to use theoretical knowledge in the real life. The book was written to help you to understand yourself and the market from the point of its subjective behavior. To become a successful trader all you need is to stay stress-free and confident. This book will teach you how to do it.
We have started a section where we’ll post our review of the most interesting books for traders.
“Trading in the zone” by Mark Douglas
📚 Who should read this book:
🔸 Traders who just entered the FX market
🔸 Traders who trade for a long time but unsuccessfully
📝 What you will learn:
🔸 How to have confidence in your trades.
🔸 How to free your mind from algorithms and understand that anything can happen on the market.
🔸 How to control your feelings in a case of an unpredictable situation.
🔸 How to ignore useless information.
📗 Short summary
Why traders read a lot of books about trading strategies but lose huge amounts of money? Why do trading tips not work? It is because of everything in our minds!
Mark Douglas will not teach you how to analyze the market. He won’t tell you about the major trends or rules of trading either. He wrote this book to explain how to change your mind to become successful in the FX market.
Mr. Douglas spent about 17 years analyzing the psychological dynamics behind trading. He came to a conclusion that there is a difference between the way our minds work and the logic of the market. Misbalance will lead to loses, so it is highly important to remove it. The aim of the book is to help a trader to create a harmony between him and the market. As it is impossible to change characteristics of the market, traders should change their attitude to it.
Douglas defined the ideas that every trader should follow:
🔸 You don't need to know what's going to happen next to make money.
🔸 Anything can happen.
🔸 Every moment is unique, meaning every edge and outcome is truly a unique experience. The trade either works or it doesn't.
📈 The author concluded that the market is highly unpredictable and results of traders depend on their attitude, not on the strategy they choose. Traders who act without hesitation and with a “cold mind” become successful. Another important fact is that such traders learn how to focus on the information that gives them opportunities to make money and not on the information that creates fears and doubts. In his book, Mark Douglas will teach you how to become such trader.
📌 Summing up, we can say that this book is quite different from other financial books that teach you how to use theoretical knowledge in the real life. The book was written to help you to understand yourself and the market from the point of its subjective behavior. To become a successful trader all you need is to stay stress-free and confident. This book will teach you how to do it.
#EUR
Analyst Ivan Karamazov is bearish on the EUR versus the USD and bullish on the EUR against the GBP.
🔸 EUR/USD
SELL 1.2310 SL 1.2365 TP1 1.2210 TP2 1.2155 TP3 1.2080
SELL 1.2355 SL 1.2410 TP1 1.2255 TP2 1.2155 TP3 1.2080
🔸 EUR/GBP
BUY 0.8925 SL 0.8870 TP 0.9015
@fbsanalytics
Analyst Ivan Karamazov is bearish on the EUR versus the USD and bullish on the EUR against the GBP.
🔸 EUR/USD
SELL 1.2310 SL 1.2365 TP1 1.2210 TP2 1.2155 TP3 1.2080
SELL 1.2355 SL 1.2410 TP1 1.2255 TP2 1.2155 TP3 1.2080
🔸 EUR/GBP
BUY 0.8925 SL 0.8870 TP 0.9015
@fbsanalytics
#WeeklyCryptoNews
Bitcoin is strengthening its positions. Breaking the important level of $10,000, it is climbing further. The next resistance is at $12,000, let’s wait and see.
🔸 Telegram is increasing its appetite. The company is going to raise $1.7 billion instead of $850 million in the second round of private ICO. There are talks that this amount of money will be enough to launch the blockchain and the cryptocurrency, so Telegram may refuse to hold the public ICO. Moreover, if the company fails to launch “TON” until October 19, 2019, investors will get their money back. But there is one small trick: the company will not be able to return all investments…
🔸 The hardfork Bitcoin Private was held on February 28. It is the first Bitcoin’s fork based on two blockchains: Bitcoin and ZClassic. The main feature is the usage of the zk-SNARK protocol for hiding transaction data.
🔸 According to Bloomberg, the Chinese government is planning to check accounts of citizens and companies to detect if they trade cryptocurrencies or participate in ICO. Accounts of lawbreakers will be blocked.
🔸 The United States Securities and Exchange Commission (SEC) started a mass distribution of summons to everyone who is involved in blockchain and cryptocurrency deals. The aim is to get information about the cryptocurrency market for its better regulation.
🔸 Everyone wants his own blockchain. The head of Starbucks Howard Schultz declared that the company is going to create its own blockchain and cryptocurrency that will appear in a new payment app.
🔸 Japanese e-commerce giant Rakuten announced a launch of its own cryptocurrency “Rakuten Coin”. The company is owned by Viber. It means that Telegram’s “gram” may meet a competition.
🔸 The big Canadian bank “Toronto-Dominion Bank” banned the cryptocurrency’s purchase by credit cards. There are already other six big banks in the world that enacted the same restriction.
🔸 Bittrex is enacting sanctions. Since March 9 the cryptocurrency exchange Bittrex will block accounts and cancel operations of residents of countries and territories that are under the US sanctions. They are North Korea, Iran, Syria, Cuba, and Crimea.
🔸 The Federal Ministry of Finance (Germany) said that purchases by cryptocurrencies will not be a subject of additional taxes. All cryptocurrencies are recognized as the equivalent of payment’s means.
🔸 A huge project of transition of all information about transports into blockchain is being launched in Dubai. The history of any car can be tracked starting from the factory and considering all accidents, repairs, resales, and other information.
🔺 Bitcoin $10,900 (+1.40%)
🔻 Ethereum $860.13 (-1.27%)
🔺 DASH $604.16 (+1.53%)
🔻 Litecoin $206.20 (-1.63%)
@fbsanalytics
Bitcoin is strengthening its positions. Breaking the important level of $10,000, it is climbing further. The next resistance is at $12,000, let’s wait and see.
🔸 Telegram is increasing its appetite. The company is going to raise $1.7 billion instead of $850 million in the second round of private ICO. There are talks that this amount of money will be enough to launch the blockchain and the cryptocurrency, so Telegram may refuse to hold the public ICO. Moreover, if the company fails to launch “TON” until October 19, 2019, investors will get their money back. But there is one small trick: the company will not be able to return all investments…
🔸 The hardfork Bitcoin Private was held on February 28. It is the first Bitcoin’s fork based on two blockchains: Bitcoin and ZClassic. The main feature is the usage of the zk-SNARK protocol for hiding transaction data.
🔸 According to Bloomberg, the Chinese government is planning to check accounts of citizens and companies to detect if they trade cryptocurrencies or participate in ICO. Accounts of lawbreakers will be blocked.
🔸 The United States Securities and Exchange Commission (SEC) started a mass distribution of summons to everyone who is involved in blockchain and cryptocurrency deals. The aim is to get information about the cryptocurrency market for its better regulation.
🔸 Everyone wants his own blockchain. The head of Starbucks Howard Schultz declared that the company is going to create its own blockchain and cryptocurrency that will appear in a new payment app.
🔸 Japanese e-commerce giant Rakuten announced a launch of its own cryptocurrency “Rakuten Coin”. The company is owned by Viber. It means that Telegram’s “gram” may meet a competition.
🔸 The big Canadian bank “Toronto-Dominion Bank” banned the cryptocurrency’s purchase by credit cards. There are already other six big banks in the world that enacted the same restriction.
🔸 Bittrex is enacting sanctions. Since March 9 the cryptocurrency exchange Bittrex will block accounts and cancel operations of residents of countries and territories that are under the US sanctions. They are North Korea, Iran, Syria, Cuba, and Crimea.
🔸 The Federal Ministry of Finance (Germany) said that purchases by cryptocurrencies will not be a subject of additional taxes. All cryptocurrencies are recognized as the equivalent of payment’s means.
🔸 A huge project of transition of all information about transports into blockchain is being launched in Dubai. The history of any car can be tracked starting from the factory and considering all accidents, repairs, resales, and other information.
🔺 Bitcoin $10,900 (+1.40%)
🔻 Ethereum $860.13 (-1.27%)
🔺 DASH $604.16 (+1.53%)
🔻 Litecoin $206.20 (-1.63%)
@fbsanalytics
👍2
#EconomicCalendar
🔔 5 crucial events of the week
We have gathered the most important events of the week for the major currencies. Do not miss them!
1. Tuesday, March 6 at 5:30 MT time – The Reserve Bank of Australia’s rate statement. Most likely, the central bank will not change the rate this time, but it will give clues on the future monetary policy. A chance to trade AUD.
2. Wednesday, March 7 at 17:00 MT time – Bank of Canada’s overnight rate. The BOC has raised the rate in January, and two rate hikes in a row are unlikely. But the bank’s Governor can give some important information in his speech on Thursday (18:00 MT time).
3. Thursday, March 8 at 14:45 MT time – European minimum bid rate. The euro area’s economy is good, but is it good enough for policy tightening? 15:30 MT time – the ECB press conference. Great swings await EUR/USD!
4. Friday, March 9 tentative – Bank of Japan’s policy rate. The central bank does not plan to change the accommodative monetary policy, but the JPY is continuing to rise. Let’s see if the BOJ meeting changes anything.
5. Friday, March 9 15:30 MT time – US Nonfarm Payrolls (NFP), unemployment rate and average earnings. The USD is under the pressure again and needs positive earnings data to support it.
🔔 5 crucial events of the week
We have gathered the most important events of the week for the major currencies. Do not miss them!
1. Tuesday, March 6 at 5:30 MT time – The Reserve Bank of Australia’s rate statement. Most likely, the central bank will not change the rate this time, but it will give clues on the future monetary policy. A chance to trade AUD.
2. Wednesday, March 7 at 17:00 MT time – Bank of Canada’s overnight rate. The BOC has raised the rate in January, and two rate hikes in a row are unlikely. But the bank’s Governor can give some important information in his speech on Thursday (18:00 MT time).
3. Thursday, March 8 at 14:45 MT time – European minimum bid rate. The euro area’s economy is good, but is it good enough for policy tightening? 15:30 MT time – the ECB press conference. Great swings await EUR/USD!
4. Friday, March 9 tentative – Bank of Japan’s policy rate. The central bank does not plan to change the accommodative monetary policy, but the JPY is continuing to rise. Let’s see if the BOJ meeting changes anything.
5. Friday, March 9 15:30 MT time – US Nonfarm Payrolls (NFP), unemployment rate and average earnings. The USD is under the pressure again and needs positive earnings data to support it.
#bookshelf
The DAO of Capital: Austrian Investing in a Distorted World by Mark Spitznagel
📚 Who should read this book:
🔸 Everyone who wants to learn how to invest and get profit.
🔸 Everyone who wants to get new knowledge: Daoism and the Austrian economic school are widely described here.
📗 What you will learn:
🔸 The bases of Daoism theory and Austrian economic school.
🔸 How to become patient and enter the market at the right time.
To make you sure that this book is useful, first of all, we will give you some information on the author. The book was written by Mark Spitznagel – an American hedge fund manager, investment consultant, founder and president of Universa Investments. He is also famous for his profitable billion-dollar derivatives bet on the stock market crack of 2008 and his pioneering “safe haven investing” (there is a book about this theory if you are interested you can read it to learn more).
Before he became the head of the hedge fund, he was a trader at the Chicago Board of Trade and a proprietary trader at Morgan Stanley. So a wide range of experience in finance allows you to trust the information he offers you.
When you read this book, you will learn how to be patient and enter the market at the right time. Using various examples from Robinson Crusoe to Henry Ford, the author tells about the “Austrian” investment method that is based on the main idea of Daoism – “profit from losses”. It can sound paradoxically but you should like to lose money and hate to receive it. The Daoism approach is “one gains by losing and loses by gaining.”
Moreover, the Austrian method is aimed at the long-term profit. You should try to get profit from the impatience of other investors, their aversion to small losses and their wills to earn immediately. As a result, patience is your key to success.
You should use your patience to enter the market at the right time. In this book, Mr. Spitznagel talks about distorted markets as well. *A distorted market is the market where there is an intervention by a governing body. For example, when a central bank artificially raises or lowers interest rates. There is a high possibility of a fall in such markets. So, investors should stay far from such markets and wait until the artificial conditions go away. The author thinks that only a patient investor will be able to sacrifice his profit now to earn more later.
📌 Making a conclusion, we can say that it is highly difficult to practice the Austrian investing method because people are used to looking for immediate profit when this theory call for patience. However, the author believes that as soon as you learn how to be patient and lose something without regret, you will be able to earn much more money. Remember the main idea of Dao: “profit from losses”.
@fbsanalytics
The DAO of Capital: Austrian Investing in a Distorted World by Mark Spitznagel
📚 Who should read this book:
🔸 Everyone who wants to learn how to invest and get profit.
🔸 Everyone who wants to get new knowledge: Daoism and the Austrian economic school are widely described here.
📗 What you will learn:
🔸 The bases of Daoism theory and Austrian economic school.
🔸 How to become patient and enter the market at the right time.
To make you sure that this book is useful, first of all, we will give you some information on the author. The book was written by Mark Spitznagel – an American hedge fund manager, investment consultant, founder and president of Universa Investments. He is also famous for his profitable billion-dollar derivatives bet on the stock market crack of 2008 and his pioneering “safe haven investing” (there is a book about this theory if you are interested you can read it to learn more).
Before he became the head of the hedge fund, he was a trader at the Chicago Board of Trade and a proprietary trader at Morgan Stanley. So a wide range of experience in finance allows you to trust the information he offers you.
When you read this book, you will learn how to be patient and enter the market at the right time. Using various examples from Robinson Crusoe to Henry Ford, the author tells about the “Austrian” investment method that is based on the main idea of Daoism – “profit from losses”. It can sound paradoxically but you should like to lose money and hate to receive it. The Daoism approach is “one gains by losing and loses by gaining.”
Moreover, the Austrian method is aimed at the long-term profit. You should try to get profit from the impatience of other investors, their aversion to small losses and their wills to earn immediately. As a result, patience is your key to success.
You should use your patience to enter the market at the right time. In this book, Mr. Spitznagel talks about distorted markets as well. *A distorted market is the market where there is an intervention by a governing body. For example, when a central bank artificially raises or lowers interest rates. There is a high possibility of a fall in such markets. So, investors should stay far from such markets and wait until the artificial conditions go away. The author thinks that only a patient investor will be able to sacrifice his profit now to earn more later.
📌 Making a conclusion, we can say that it is highly difficult to practice the Austrian investing method because people are used to looking for immediate profit when this theory call for patience. However, the author believes that as soon as you learn how to be patient and lose something without regret, you will be able to earn much more money. Remember the main idea of Dao: “profit from losses”.
@fbsanalytics
#EURUSD
The euro fell to 1.23 versus the US dollar as the ECB said that inflation in the euro area remained low and rising protectionism is a risk.
The USD gained on the prospect of meeting between President Trump and North Korean leader Kim Jong Un by May. Some fears about global trade wars have gone: Trump imposed import tariffs on steel and aluminium but softened his stance by announcing exemptions for Canada and Mexico.
Analyst Ivan Karamazov has the following idea about trading EUR/USD:
🔸 SELL 1.2295
🔸 SL 1.2350
🔸 TP1 1.2185 TP2 1.2090 TP3 1.1965
The euro fell to 1.23 versus the US dollar as the ECB said that inflation in the euro area remained low and rising protectionism is a risk.
The USD gained on the prospect of meeting between President Trump and North Korean leader Kim Jong Un by May. Some fears about global trade wars have gone: Trump imposed import tariffs on steel and aluminium but softened his stance by announcing exemptions for Canada and Mexico.
Analyst Ivan Karamazov has the following idea about trading EUR/USD:
🔸 SELL 1.2295
🔸 SL 1.2350
🔸 TP1 1.2185 TP2 1.2090 TP3 1.1965
#WeeklyCryptoNews
The winter is not receding. Top cryptocurrencies have declined. Bitcoin has fallen below $9000. Are we going to $6000 again? Let’s see.
• The former chief economist of the International Monetary Fund (IMF) Kenneth Rogoff says that in 10-year future bitcoin will more likely cost $100 than $100,000. Further regulations will make the price go down.
• According to Blockchain. info, the number of transactions in bitcoin network plunged to the 2-year low.
• Why has bitcoin fallen? One of the reasons can be a huge sale of BTC by a trustee of the bankrupt Mt.Gox cryptocurrency exchange. Since September 2017 he has sold bitcoin and bitcoin cash for more than $400 million to compensate the losses of Mt.Gox creditors.
• According to one research, bitcoin is most traded in Japanese yen (60%). The second fiat currency is the US dollar (25%), in the third place the Korean won (6.5%), the euro is the fourth (5.5%).
• Some news about an uncertain Chinese policy. A proposal on a national cryptocurrency exchange was made at the annual meeting of China’s top legislative and advisory bodies. Despite all restrictions on cryptocurrencies, China is not going to stay aside. At the same time, accounts of cryptocurrencies exchanges are blocked in the popular Chinese messenger WeChat.
• More restrictions in Asia. Japanese authorities closed cryptocurrency trade platforms FSHO and Bit Station for 30 days until security violations are removed. Five cryptocurrency exchanges (Coincheck is among them) have to present a plan to improve protection from cyber attacks before March 22.
• The government of New Jersey banned the ICO of Bitcoiin2Gen that is advertised by Steven Seagal. Don’t believe famous names.
• Ryan Gosling has become the new face of cryptocurrency scam Miroskii (the actor didn’t know about it).
• The National Assembly of Venezuela said that El Petro is a fraud of a corrupt government that was created to get money from citizens. The opposition has most of the seats in Assembly, so such a claim is not a surprise.
• A bot of the cryptocurrency exchange Binance was hacked. After the hacking, it started selling altcoins at market prices and buying Viacoin (VIA). VIA became the second one after bitcoin by the volume of trading. However, the cryptocurrency exchange itself was not hacked. Now all balances of users are restored. The crypto market lost more than $30 billion during an hour. All top cryptocurrencies fell.
• Coinbase opens its first investment index fund tied to rates of BTC, BCH, ETH, and LTC. In the beginning, only accredited investors from the USA will have an access to it, a minimum deposit is $10,000.
• Vitalik Buterin, the founder of Ethereum, offered a new model of ICO – DAICO. DAICO will help to make the ICO more secure attracting investors in a process of an initial development of the project.
• A new token has appeared. Developers of Callisto Network confirmed Ethereum Classic block mold. Yobit has started trading on the new token, a price is $1,6. A launching of Callisto network is planned on March 23.
🔻 Bitcoin $8,810 (-10.81%)
🔻 DASH $456.4 (-12.60%)
🔻 Ethereum $677.41 (-10.50%)
🔻 Litecoin $168.05 (-8.85%)
@fbsanalytics
The winter is not receding. Top cryptocurrencies have declined. Bitcoin has fallen below $9000. Are we going to $6000 again? Let’s see.
• The former chief economist of the International Monetary Fund (IMF) Kenneth Rogoff says that in 10-year future bitcoin will more likely cost $100 than $100,000. Further regulations will make the price go down.
• According to Blockchain. info, the number of transactions in bitcoin network plunged to the 2-year low.
• Why has bitcoin fallen? One of the reasons can be a huge sale of BTC by a trustee of the bankrupt Mt.Gox cryptocurrency exchange. Since September 2017 he has sold bitcoin and bitcoin cash for more than $400 million to compensate the losses of Mt.Gox creditors.
• According to one research, bitcoin is most traded in Japanese yen (60%). The second fiat currency is the US dollar (25%), in the third place the Korean won (6.5%), the euro is the fourth (5.5%).
• Some news about an uncertain Chinese policy. A proposal on a national cryptocurrency exchange was made at the annual meeting of China’s top legislative and advisory bodies. Despite all restrictions on cryptocurrencies, China is not going to stay aside. At the same time, accounts of cryptocurrencies exchanges are blocked in the popular Chinese messenger WeChat.
• More restrictions in Asia. Japanese authorities closed cryptocurrency trade platforms FSHO and Bit Station for 30 days until security violations are removed. Five cryptocurrency exchanges (Coincheck is among them) have to present a plan to improve protection from cyber attacks before March 22.
• The government of New Jersey banned the ICO of Bitcoiin2Gen that is advertised by Steven Seagal. Don’t believe famous names.
• Ryan Gosling has become the new face of cryptocurrency scam Miroskii (the actor didn’t know about it).
• The National Assembly of Venezuela said that El Petro is a fraud of a corrupt government that was created to get money from citizens. The opposition has most of the seats in Assembly, so such a claim is not a surprise.
• A bot of the cryptocurrency exchange Binance was hacked. After the hacking, it started selling altcoins at market prices and buying Viacoin (VIA). VIA became the second one after bitcoin by the volume of trading. However, the cryptocurrency exchange itself was not hacked. Now all balances of users are restored. The crypto market lost more than $30 billion during an hour. All top cryptocurrencies fell.
• Coinbase opens its first investment index fund tied to rates of BTC, BCH, ETH, and LTC. In the beginning, only accredited investors from the USA will have an access to it, a minimum deposit is $10,000.
• Vitalik Buterin, the founder of Ethereum, offered a new model of ICO – DAICO. DAICO will help to make the ICO more secure attracting investors in a process of an initial development of the project.
• A new token has appeared. Developers of Callisto Network confirmed Ethereum Classic block mold. Yobit has started trading on the new token, a price is $1,6. A launching of Callisto network is planned on March 23.
🔻 Bitcoin $8,810 (-10.81%)
🔻 DASH $456.4 (-12.60%)
🔻 Ethereum $677.41 (-10.50%)
🔻 Litecoin $168.05 (-8.85%)
@fbsanalytics
#ForexNews
🇺🇸 Nonfarm Payrolls are out!
🔸 NFP: +313K (forecast: +205K)
🔸 Unemployment Rate: 4.1% (forecast: 4.0%)
🔸 Average Hourly Earnings: +0.1% (forecast: +0.2%)
Jobs growth is strong, but inflation is weak. Inflation is more important. As a result, the USD will be sold on the initial advance.
@fbsanalytics
🇺🇸 Nonfarm Payrolls are out!
🔸 NFP: +313K (forecast: +205K)
🔸 Unemployment Rate: 4.1% (forecast: 4.0%)
🔸 Average Hourly Earnings: +0.1% (forecast: +0.2%)
Jobs growth is strong, but inflation is weak. Inflation is more important. As a result, the USD will be sold on the initial advance.
@fbsanalytics
FBS Analytics via @vote
What info do you want on this channel?
anonymous poll
Trade ideas – 64
👍👍👍👍👍👍👍 55%
Education – 23
👍👍👍 20%
Breaking news – 15
👍👍 13%
Charts & infographics – 8
👍 7%
Cryptocurrencies – 7
👍 6%
👥 117 people voted so far.
anonymous poll
Trade ideas – 64
👍👍👍👍👍👍👍 55%
Education – 23
👍👍👍 20%
Breaking news – 15
👍👍 13%
Charts & infographics – 8
👍 7%
Cryptocurrencies – 7
👍 6%
👥 117 people voted so far.
#TradeIdea
Here are some ideas from FBS analysts:
👩 Tatyana Norkina:
USD/JPY — Buy — 106.60; SL — 106.40; TP1 — 107.40; TP2 — 107.80.
👨 Ivan Karamazov:
USD/CAD — Buy — 1.2710; SL — 1.2655; TP1 — 1.2810; TP2 — 1.2910; TP3 — 1.3100
— Buy — 1.2960; SL — 1.2905; TP1 — 1.3060; TP2 — 1.3100.
@fbsanalytics
Here are some ideas from FBS analysts:
👩 Tatyana Norkina:
USD/JPY — Buy — 106.60; SL — 106.40; TP1 — 107.40; TP2 — 107.80.
👨 Ivan Karamazov:
USD/CAD — Buy — 1.2710; SL — 1.2655; TP1 — 1.2810; TP2 — 1.2910; TP3 — 1.3100
— Buy — 1.2960; SL — 1.2905; TP1 — 1.3060; TP2 — 1.3100.
@fbsanalytics
#bookshelf
Trading chaos by Bill Williams
📚 Who should read this book:
- Everyone. Williams’ ideas led many traders to the success.
📖 What you will learn:
- The psychological side of trading.
- How to grow from a novice to a professional trader.
- The implementation of Williams indicators.
- More information about Elliott waves, MACD, fractals, and some other technical indicators.
The author of the book, Bill Williams, is a famous person in the financial world. He invented a number of indicators that are implemented on different trading platforms. The indicators are Accelerator Oscillator, Alligator, Awesome Oscillator, Fractals, Gator Oscillator, and Market Facilitation Index.
However, Mr. Williams became famous not only due to the development of indicators but also through a series of books “Trading Chaos”.
In this series, he presents a view on the financial market that differs from traditional models. The main feature of “Trading Chaos” is that the author gives a deep analysis of the market and trades on it.
On the one hand, Bill Williams teaches traders how to perceive their inner world, their mind and the actual nature of financial markets. There is a lot of information on the individual psychology of a trader. Readers have an opportunity to look at the most common problems of traders during their formation as professionals.
On the other hand, the author presents trading strategies and techniques. He believes that the market obeys the laws of nature and the logical patterns can be found. Traders should identify these patterns and take advantage out of them. The book contains valuable information about Elliott waves, MACD indicator, fractals, and some other technical indicators.
Moreover, Mr. Williams teaches trade novices how to become the experienced ones. For this aim, he divided the book into 5 steps. These steps represent a harmonious and consistent system that ensures the advancement of a novice trader from losses to regular successful trades. The main idea is that only through constant practice and learning, a trader will be able to obtain his trading skills.
📌 To sum up, the advantage of the “Trading Chaos” series is that any reader will be able to find something for him/herself. If you are interested in the psychology, you will get a wide range of information on this issue. If you believe that only technical analysis makes sense while trading, you can read about a huge amount of indicators. And what can really attract your attention is that the author displays his own experience that led not only him but many traders that had used tips of the “Trading Chaos” to the success.
Trading chaos by Bill Williams
📚 Who should read this book:
- Everyone. Williams’ ideas led many traders to the success.
📖 What you will learn:
- The psychological side of trading.
- How to grow from a novice to a professional trader.
- The implementation of Williams indicators.
- More information about Elliott waves, MACD, fractals, and some other technical indicators.
The author of the book, Bill Williams, is a famous person in the financial world. He invented a number of indicators that are implemented on different trading platforms. The indicators are Accelerator Oscillator, Alligator, Awesome Oscillator, Fractals, Gator Oscillator, and Market Facilitation Index.
However, Mr. Williams became famous not only due to the development of indicators but also through a series of books “Trading Chaos”.
In this series, he presents a view on the financial market that differs from traditional models. The main feature of “Trading Chaos” is that the author gives a deep analysis of the market and trades on it.
On the one hand, Bill Williams teaches traders how to perceive their inner world, their mind and the actual nature of financial markets. There is a lot of information on the individual psychology of a trader. Readers have an opportunity to look at the most common problems of traders during their formation as professionals.
On the other hand, the author presents trading strategies and techniques. He believes that the market obeys the laws of nature and the logical patterns can be found. Traders should identify these patterns and take advantage out of them. The book contains valuable information about Elliott waves, MACD indicator, fractals, and some other technical indicators.
Moreover, Mr. Williams teaches trade novices how to become the experienced ones. For this aim, he divided the book into 5 steps. These steps represent a harmonious and consistent system that ensures the advancement of a novice trader from losses to regular successful trades. The main idea is that only through constant practice and learning, a trader will be able to obtain his trading skills.
📌 To sum up, the advantage of the “Trading Chaos” series is that any reader will be able to find something for him/herself. If you are interested in the psychology, you will get a wide range of information on this issue. If you believe that only technical analysis makes sense while trading, you can read about a huge amount of indicators. And what can really attract your attention is that the author displays his own experience that led not only him but many traders that had used tips of the “Trading Chaos” to the success.
❤2