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Don’t waste your time – keep track of how NFP affects the US dollar!
Elon Musk, Tesla’s founder and CEO, said the company wouldn’t accept Bitcoin as payment any longer. As a result, BTC/USD dropped to $45,300, the low unseen since March.
He explained his actions with environmental issues: “rapidly increasing use of fossil fuels for Bitcoin mining and transactions”. Indeed, this problem exists. According to Citigroup’s report, Bitcoin mining is consuming 66 times more electricity than it did back in late 2015, and as a result, carbon emissions are increasingly rising.
He won’t sell any of the Bitcoin Tesla already holds and what’s more important, he signaled he might accept other cryptocurrencies as payment if they are less energy-intensive. Well, what would be his next #1 crypto? Maybe Dogecoin? He asked about that his followers on Twitter already: 78% said yes. There are some talks about ETH and XRP right now.
Musk’s tweet can’t make an end to Bitcoin. The BTC is still the #1 cryptocurrency by the market cap and it’s likely to keep its uptrend in the long term. For most investors, it’s just a good opportunity to buy the dips.
Bitcoin is moving inside the ascending channel. BTC/USD has bounced off the lower trend line. Now the crypto is likely to recover some of its recent losses, so the way up to $55,00 is clear now. If it jumps above the midline of Bollinger Bands at $55,000, the way up to $60,000 will be open. In the opposite scenario, the move below the lower trend line at $48,000 will press down the crypto to the $45,000 support.
What will happen? The Organization of the Petroleum Exporting Countries and 10 additional oil-exporting countries, including Russia, will hold a videoconference on July 1…
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
The Bank of Canada releases a monetary policy statement with an update on the interest rate on June 9, at 17:00 MT time.
Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
The United States will release MoM Retail Sales data on September 16, 15:30 GMT+3.
United States’ Bureau of Labor Statistics will release monthly CPI and core CPI on September 14, 15:30 GMT+3.