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CryptoNews

- The halving took place in the Bitcoin network. This event has divided the reward for mining one block to 6.25 coins. Since the beginning of the year, this event has caused a lot of controversy and speculation about what awaits the main cryptocurrency after it. Despite a lot of positive forecasts, the coin survived the halving at the level below 9 thousand dollars. So far, no significant fluctuations in quotes, nor a loss of hashrate have been noted. The market is frozen in anticipation and may be preparing to jump. But which way?

- The head of the Galaxy Digital crypto-trading bank, billionaire Mike Novogratz believes that the main coin will be traded at $20 thousand by the end of the year. And in 2021, if the trend of cryptocurrency acceptance by regulators continues, the asset has every chance to update its absolute maximum. "Bitcoin has been able to survive the halving that was expected for four years, and now it is ready to take new frontiers. We will see a new 2020 high before autumn. By December, we should expect an update of the historical high. Even though the forecast of 10 thousand dollars before halving did not come true, I do not take back my words, since the coin can go to aggressive growth at any time," Novogratz said.

- In addition to Mike Novogratz, there are still a lot of optimists in the expert community who predict a surge in Bitcoin in the medium term. So, according to Leonard Neo, the head of research at Stack, the BTC climb will begin about 6-9 months after the halving. "Miners will adapt to the new working conditions over the next few weeks," CNBC quoted the expert as saying. – We expect that this [market recovery] may take 6-9 months before equilibrium occurs, after which Bitcoin will move to growth." “Further shocks in the global economy may accelerate its upward trajectory,” Leonard Neo emphasized.

- Bitcoin miners added a symbolic message to the last block before halving. It draws a parallel between the current economic situation and the global financial crisis of 2008. "With $2.3T Injection, Fed's Plan Far Exceeds 2008 Rescue," the miners quoted the headline of the New York Times on April 9, 2020. Adding this message to the block, the miners also paid tribute to Satoshi Nakamoto. On January 3, 2009, the creator of Bitcoin left a similar message in the zero block, using the headline of the British newspaper The Times: "Chancellor on Brink of Second Bailout for Banks."

- The creator of Hashcash algorithm and CEO of Blockstream Adam Back decided to interrupt a new wave of speculation that he was hiding under the pseudonym Satoshi Nakamoto, stating that any coincidence and facts random. The crypto community has repeatedly suggested that it is Beck who can be the creator of bitcoin. His comments on the course of the trial regarding the fate of 1.1 million bitcoins Satoshi Nakamoto, for which Australian businessman Craig Wright poses, added fuel to the fire. We talked about this process in more detail in the previous issue of Crypto News on 06.05.2020.

- Since the second half of 2016, the number of bitcoin addresses with a balance of less than 1 BTC has increased by about 100%. This is stated in a report by analytics company Glassnode. The largest increase was shown by wallets with a balance of less than 0.01 BTC (less than $100). Over the past four years, the number of such addresses has jumped 235% and exceeded 10 million. The number of addresses containing from 0.01 to 0.1 Bitcoin has increased by more than 200% since July 2016. The number of wallets with a balance of more than 0.1 but less than 1.0 coins has increased by 142%. Researchers have also recorded an increase in the number of large holders of cryptocurrency or the so-called “whales”. In four years, the number of addresses containing more than 1000 bitcoins has grown by more than 13%.

- During the pandemic, the use of cryptocurrency ATMs in the United States grew by 40%. Today, Coinstar serves 3,500 crypto ATMs, and now plans to double their number within a year. At the same time, the company claims that this growth was provided by those who used cryptocurrency ATMs for the first time.

- Paul Tudor Jones, founder of the Tudor Investment hedge fund, whose fortune is estimated at $5.1 billion, said on CNBC that bitcoin is an excellent speculation. As for his own approach to cryptocurrency, Jones called it conservative. “I have just over 1% of assets in BTC, maybe the correct figure is closer to 2%,” he elaborated. And he added: “When I think about Bitcoin, I view it as one tiny part of a portfolio. But it may be the best, most profitable of all." Last week, this legendary trader made a loud statement, calling cryptocurrency “the fastest horse” and inviting customers to include bitcoin futures in their portfolio.

- A report from ESTsecurity experts says that North Korean hackers have begun to attack crypto traders with renewed vigor. The infamous Lazarus organization became active again. The authors of the report emphasize that in addition to traders, cybercriminals attack crypto companies, mainly from the Asian region. Lazarus sends emails to potential victims on behalf of organizations purportedly offering asset exchange and storage services. These emails contain malicious files that are stored under the guise of blockchain-based software development agreements. Using the virus, hackers steal victim data and steal funds in cryptocurrency.

- To date, the leading mass media have already announced the "death" of bitcoin 380 times, but the first cryptocurrency is not only still alive, but also survived the very website that first predicted its decline. The CEO of the British cryptocurrency exchange Danny Scott drew attention to this. We are talking about the website Underground Economist, which predicted bitcoin's death on December 8, 2010, when it cost $0.23. "The only thing that has kept bitcoin alive for so long is its novelty. It will either remain in this status of novelty, or it will die faster than you can blink," the publication wrote at the time.


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Forex Forecast and Cryptocurrencies Forecast for May 18 – 22, 2020​

First, a review of last week’s events:

- EUR/USD. There is this expression — “retrain on the fly.” That's exactly what President Trump did on May 14. Prior to that, he talked a lot and often about the advantages of a weak dollar, which would increase the competitiveness of American products in foreign markets and pushed the Fed towards a softer monetary policy. And now, he suddenly announced in an interview with Fox TV: "Right now it's good to have a strong dollar. Having a strong dollar right now is great!” The head of the Federal Reserve, Jerome Powell, also supported his President, saying that the regulator did not and does not consider the possibility of switching to negative interest rates.
The main reason for this 180-degree reversal is that the crisis generated by the COVID-19 pandemic has sharply increased interest in the dollar as a safe haven currency and trying to counter it is like swimming against the tide. In addition, the US authorities have turned on the printing press at full capacity, and it is very important for them now to maintain interest in their own currency. They are afraid that someone may simultaneously throw a large number of dollars into the secondary market, and in order to avoid this, they carefully fuel the confidence of investors that this currency will grow.
Despite this, EUR/USD quotes do not change much, as the euro is not the Turkish lira or Brazilian real, but a currency comparable to the dollar in scale and reliability. And if the pair moved in the side channel 1.0750-1.1000 earlier, the range of its oscillations now has decreased to 1.0770-1.0890. The pair is gradually consolidating near the horizon 1.0800, forming a triangle on a two-month chart and putting the final chord of the week at 1.0820;

- GBP/USD. Pound forecasts still coincide with realities. The British currency is under pressure, Brexit-related problems have been repeatedly increased by the coronavirus pandemic, and GDP is falling. The pound is falling too. The GBP/USD pair lost about 285 points during the week, striving to break the lower limit of the seven-week corridor 1.2165-1.2650, and ending the trading session at 1.2120;

- USD/JPY. The USD/JPY pair is consolidating around 107.00 confirming the thesis that the yen is the same safe haven for investors as the euro or the dollar. Moreover, the Japanese currency has a clear advantage over the euro¬: if the European currency was losing its positions to the dollar in the last one and a half to two months, the yen, on the contrary, was winning them back. And the EUR/JPY cross-pair has fallen by more than 500 points since the end of March (from 121.00 to 116.00). As for the last week, the Japanese currency was kept in a rather narrow range of 106.50-107.75 yen per dollar for the entire five-day period, and completed it at 107.20;

– cryptocurrencies. For starters, a bit of stats. According to Glassnode, the number of bitcoin addresses with a balance of less than 1 BTC has increased by about 100% since the second half of 2016. Wallets with a balance of less than 0.01 BTC (less than $100) showed the biggest increase. The number of such addresses has jumped 235% over the past four years and exceeded 10 million. And that's kind of good news. But if we make simple calculations, we will get that thanks to such a numerous but "small fish", the capitalization of the crypto market has grown by only $0.5-1.0 billion. A drop in the ocean! But the number of large holders of cryptocurrency, real "whales" who own more than 1,000 BTC coins, has grown by only 13% in four years, which suggests a lack of interest from large institutional investors.
Just one example. The other day, the founder of the Tudor Investment hedge fund, Paul Tudor Jones, whose fortune is estimated at $5.1 billion, said on CNBC that bitcoin is, of course, a great speculation, but he considers it only as one tiny, just 1-2%, part of his portfolio.
Crypto investors and major global regulators do not please. So, the US court sided with the SEC, preventing the owner of Telegram messenger Pavel Durov from launching the TON cryptocurrency. A similar fate befell the Libra coin initiated by Facebook, even despite the fact that the project was supported by another 26 such powerful companies as eBay, Uber, Booking.com, Vodafone and others. All this suggests that the US authorities do not need competitors to the dollar at all, and they will do everything they can to prevent such from appearing.
The May 11 halving in the Bitcoin network did not add optimism to the market either. Since the beginning of the year, this event has caused a lot of controversy and speculation about what awaits the main cryptocurrency after it. And despite a lot of positive predictions, the coin experienced halving at below $9,000. The main cryptocurrency could not gain a foothold last week above the sign level of $10,000, having stayed at a height of $10,003 for only a couple of minutes.
The halving of the miners' reward has already led, according to CoinMetrics, to a 30% drop in bitcoin hashrate. Crypto exchanges started actively withdrawing funds, quotes fell to $8,100, and the total market capitalization of the crypto market by the middle of the week sank from $270 billion to $234 billion (-13.3%). The situation, however, somewhat stabilized by the end of the week, the capitalization approached $260 billion, and the BTC/USD pair aimed at storming the height of $10,000 once again. The value of the Crypto Fear & Greed Index fell by 11 points over the week, from 55 to 44.
The charts of the main altcoins, at first glance, repeat the dynamics of BTC/USD, but their recovery is much slower. Unlike bitcoin, etherium (ETH/USD), riple (XRP/USD) and litecoin (LTC/USD) were able to recoup only half of the losses after the May 10 failure.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. Weakening risk sentiment and selling off exchange-traded funds strengthens the dollar. It is now supported by US President Trump, with his threats to sever any relations with China at all, and the Federal Reserve, which has refused to lower its key rate to negative values. Even the judge of the Constitutional Court of Germany, Peter Huber, helped the American currency, saying that the ECB was not “the master of the universe” to comply with all its decisions.
All this has prompted 65% of analysts supported by 60% of oscillators and 100% of trend indicators on D1 to side with the bears and vote for the decline of the EUR/USD pair. The nearest targets are 1.0750 and 1.0650.
10% of experts and 30% of oscillators, painted in neutral gray, have voted that the pair will continue to consolidate at the 1.0800 horizon. And finally, the remaining 25% of analysts predict the pair will return to the upper boundary of the side corridor 1.0750-1.1000. On D1, they were supported by 10% of oscillators that signal the pair's oversold;

- GBP/USD. According to most experts, the pound is not at all the currency in which it is worth investing even with a fall in risk sentiment. It has long ceased to be a refuge from financial storms. The European Union is currently busy with the process of forming its seven-year budget and its financing problems, the ECB is engaged in a fight with the German Constitutional court, and Brussels is not at all up to the settlement of Brexit-related problems. And the UK, in addition to a divorce from the EU, also has a continuously falling GDP, rising unemployment and a negative balance in foreign trade.
As a result, 65% of experts expect a further weakening of the British currency and its decline to the horizon of 1.2000. In the event of a breakout of this important level, the pair will rush to the lows of March: 1.1640 and 1.1450. Bearish sentiment is also supported by indicators on H4 and D1, demonstrating a rare unity: 85% of oscillators and 100% of trend indicators are colored red.
The opposite point of view is shared by 35% of analysts, 15% of oscillators indicating the pair is oversold, and graphical analysis on both timeframes. In their opinion, the breakdown of the lower boundary of the channel 1.2165-1.2650 is false, and the pair is expected to first return to the central zone of this channel 1.2245-1.2465, and then, possibly, rise to its upper boundary;

- USD/JPY. The yen froze, waiting for the next round of trade and now political war between the US and China to develop. We should not forget that its quotes are also strongly influenced by the level of risk sentiment in the market. There is also a correlation with 10-year US Treasury bonds, and the dependence of the Japanese economy on oil prices. Such an abundance of factors does not yet make it possible to identify the most likely direction of the breakthrough of the consolidation zone in the region of 107.00. At the moment, supporters of the pair's growth have a slight advantage (40%), supported by 65% of the oscillators on H4. 20% of analysts turn their eyes to the South and another 40% – to the East.
The nearest support levels are 106.75, 106.00 and 105.00. The resistance levels are 107.45, 108.00, 108.50 and 109.35;

– cryptocurrencies. So, the bitcoin halving has reduced the reward for mining one block to 6.25 coins. Some miners are already leaving the business or selling assets to cover losses. Even before the halving, a lot of equipment for mining BTC gave minimal profit, and now it has become completely unprofitable. It looks like things are heading towards further monopolisation of mining market, which contradicts the very idea of cryptocurrency decentralization. However, many experts hope that the crisis caused by COVID-19 and the printing of fiat by Central banks will nevertheless push the main cryptocurrency up.
“Bitcoin was able to survive the halving that has been expected for four years, and now it is ready to take new frontiers,” said billionaire Mike Novogratz, head of the Galaxy Digital crypto trading bank. According to him, the main coin will reach a level of $20,000 by December, and then the asset has every chance of updating its absolute maximum.
In addition to Novogratz, there are still enough optimists in the expert community who predict a surge in bitcoin in the medium term. So, according to Leonard Neo, the head of research at Stack, the BTC climb will begin about 6-9 months after the halving. At first, miners will adapt to new working conditions, after which bitcoin will turn to growth. “Further upheavals in the global economy may accelerate its upward trajectory,” CNBC quoted the expert as saying.
In the near future, task No. 1 for BTC/USD is to overcome the height of $10,000. Moreover, Bitcoin should not only take this line, but also confidently gain a foothold above it. Only in this case can we expect further rapid growth of quotes of this pair. 60% of analysts agree that it will be able to rise to the level of $10,500-11,000 in May-June. The remaining 40% expect to see the pair significantly lower: in the $8,000-9,000 zone. And here it should be noted that a number of experts draw apocalyptic paintings altogether, predicting the failure of the main cryptocurrency to levels around $ 6,500.


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Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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CryptoNews

- Instead of searching for a COVID-19 vaccine, European supercomputers were mining cryptocurrency. After stealing access data from service personnel, hackers installed malware for mining on several heavy-duty computers that were used to develop a coronavirus vaccine. The massive attack affected supercomputers in the UK, Germany, Switzerland and possibly Spain. The first case of infection was discovered on May 11 at the University of Edinburgh in Scotland. Later similar problems were identified at the German University of Ludwig-Maximilian, the Swiss Center for Scientific Computing and the Leibniz Computer Center in Bavaria. Computers had to be temporarily disabled to remove malicious software that was mining Monero coins.

- The yield of bitcoin this year is far ahead of gold. The precious metal has risen in value by 12% since January. The value of bitcoin has increased by more than 35% over the same period. According to experts from TradingView (a social network for traders), the volatility of the main coin was significantly higher, which affected the risks of buying cryptocurrency. But even so, the cryptocurrency market now looks significantly more stable than the stock market. Even the shares of the world's largest banks have lost significantly in price. For example, JPMorgan quotes fell by 37.2%, as a result of which BTC outperformed the bank in terms of market value growth by 300%. Wells Fargo shows the worst result among the study participants: shares of this bank collapsed by 55.3%.
"Even in the economic crisis, bitcoin has the status of one of the best assets to invest in. When the world begins to gradually come out of the current situation, the cryptocurrency market will retain superiority in certain industries. Other assets will be forced to earn credibility again," says Morgan Creek co-founder Anthony Pompliano.

- Analysts at the TIE (a company offering digital solutions) published a report that shows that Twitter users' interest in bitcoin has jumped to a historical high. The upward momentum has been recorded throughout this year, but a sharp spike has come in the run-up to May's halving. Over the past 30 days, the number of posts dedicated to the main cryptocurrency has skyrocketed to its highest point in 2.5 years. And the number of positive tweets significantly exceeds the number of negative mentions.

- China continues to lead in the ranking of countries in terms of computing power in the Bitcoin network. At the moment, just three mining pools, F2Pool, AntPool and BTC.com, account for 52.9% of Bitcoin hashrate (21.8%, 16% and 15.1%, respectively). Moreover, AntPool and BTC.com pools are part of the structure of the Chinese company Bitmain. So, it turns out that this giant and F2Pool together control the lion's share of the global Bitcoin mining. In this regard, a number of industry representatives have already sounded alarm about the reality of the threat of centralization of this “decentralized” cryptocurrency.

- According to the Anti-Terrorism Project, the ISIS terrorist organization banned in many countries stores more than $ 300 million in cryptocurrencies. "I calculated that from 2017 to 2020, the terrorists received about $300 million, which we were not able to detect, and cryptocurrencies can be used to hide them. This is really an ideal mechanism for hiding money. With proper organization, governments will not be able to locate or confiscate them,” wrote the director of the Anti-Terrorism Project, Hans-Jakob Schindler. The statement also says that in 2019, ISIS used cryptocurrencies to organize a terrorist attack in Sri Lanka. 250 people became victims of the attack then.

- The leading cryptocurrency is still unable to break through the $10,000 mark; however, this may change within 72 hours. This was stated by a well-known trader Tone Vays in a live broadcast on the ForkLog channel. "I believe that Bitcoin can go up very seriously. How high? Somewhere up to $12,000,” Vays said. And he added: "If we get stuck now and start falling to $9,000, I will expect us to fall below $8,000. If we break $10,000, everything will be fine.”

- Well-known cryptocurrency investor Tour Demister believes that Bitcoin can make another parabolic rally. In his opinion, the leading cryptocurrency is about to complete the phase of re-accumulation, followed by a powerful breakthrough in its exchange rate. “Bitcoin is fast approaching its second Golden Cross of 2020 - the intersection of the 50-day above the 200-day moving average (SMA). Last year, the Golden Cross led to an increase of 160%. After a false start in February, will BTC get lucky a second time?” - asked Demister.

- Bitcoin will be able to break above $20,000 within the next 18 months, according to eToro analyst Simon Peters. Moreover, the expert does not exclude the option in which BTC will test the value of $50,000, Bloomberg reports. The eToro analyst said that if the United States and many other states really move to negative rates, investment in Bitcoin will begin to grow rapidly. After that, taking the mark at least of $20,000 will already be inevitable.

- The entrepreneur and author of the bestselling book “Rich Dad, Poor Dad” Robert Kiyosaki believes that the Fed’s incompetence is killing the US economy, so the price of bitcoin will rise to $75,000 in three years. He said he had increased his investment in gold, silver, and bitcoin due to the intention of the US authorities to pour trillions of dollars into saving pension plans. We are talking about a bill on a new stimulus package for the economy, passed so far only by the U.S. House of Representatives. Forbes journalists noted that the section on assistance to pension plans assumes unlimited allocation of funds. “The economy is dying. The Fed is incompetent. Next is the infusion of trillions into pensions. Hope disappears,” Kiyosaki wrote.

- Cryptocurrency payment operator Cryptobuyer announced that Venezuelan residents will soon be able to pay with cryptocurrencies in 20,000 retail outlets in the country. As early as June, Central Madeirense supermarket chain, Farmatodo pharmacies, Cinemas Unidos and many other stores will start accepting BTC, ETH, DASH, LTC, BNB, USDT, DAI and Cryptobuyer own token - XPT.

- Hackers created a fake account of Google founder Sergey Brin on YouTube and promised to distribute 5000 BTC on his behalf. At a certain point, more than 100,000 people watched the live broadcast – an old speech by Brin was shown in a small window, and a fraudulent scheme was promoted against his background. The organizers traditionally offered to transfer from 0.1 to 25 BTC to their account in order to get twice as much. Note that such schemes were popular on Twitter in 2017-2018. The video and the channel are not available at the moment.

- “The creator of the Harry Potter novel series, Joan Rowling, who previously tried to figure out Bitcoin, said she was just “trolling Bitcoin in the hope of increasing her significant Ethereum assets.” True, this turned out to be a joke as well. This is how the writer responded to the speculation of some cryptocurrency media about her possible joining the bitcoin community.


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[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for May 25 – 29, 2020​

First, a review of last week’s events:

- EUR/USD. Tensions between the U.S. and China continue, which can not but affect the markets. President Trump said he will respond “very strongly” to Beijing’s legislative initiatives. This applies, in particular, to the desire of the PRC to strengthen control over Hong Kong, which has previously served as the cause of unrest in this country. If China continues to take this path, Donald Trump said on Thursday May 21, he “will deal with this issue very decisively.” In parallel, the US administration continues to point to the Celestial Empire, as the source of the global coronavirus pandemic, and requires appropriate compensation from it.
In addition, the United States announced the withdrawal from the “open skies” treaty, which could be a harbinger of a new arms race and reinforces the expectation of another round of geopolitical tensions.
As for the current economic indicators of the USA and the Eurozone, in spite of certain improvements, it is still very, very early to talk about their confident recovery. So, despite the fact that, according to Markit, the composite index of business activity in the manufacturing sector of the Eurozone in May rose from 13.6 to 30.5, consumer demand continues to fall, and the number of jobs continues to decline at a tremendous speed.
In the US, business activity also went up, but there are also huge problems with unemployment. The number of initial applications for unemployment benefits fell slightly during the month, from 2,687K to 2,438K, and the number of Americans receiving this benefit exceeded 25 million.
This situation of economic uncertainty both in the USA and in Europe does not allow investors to give preference to any of these currencies and has been holding the EUR/USD pair in the side corridor 1.0750-1.1000 for the second month running. So last week, the pair first rose to the upper border of this channel, and then sank into its central zone, completing the five-day period at around 1.0900;

- GBP/USD. A whole block of UK macroeconomic indicators was published last week, which turned out to be quite contradictory. It seems that the situation on the labor market has improved: the unemployment rate was 3.9% instead of the forecast value of 4.4%, and business activity in the service sector did not fail either — the Markit index showed an increase from 13.6 to 30.5, the preliminary index of supply managers (PMI) rose from 32.6 in April to 40.6. On the other hand, the consumer price index (CPI) fell from 1.5% to 0.8%, and this despite the fact that the target level of the Bank of England is 2%.
The inflation rate in April proved to be the slowest since August 2009, and such a decline in inflation could prompt the Bank of England to lower interest rates further. So, The Bank's Governor, Andrew Bailey, said on Thursday that it would be foolish to rule out the possibility of introducing negative interest rates. Only a week ago, he had denied the possibility.
In general, as was already said, the situation last week was quite contradictory, and perhaps that’s why the pound slowed down, and the dynamics of the GBP/USD pair as a whole repeated the dynamics of EUR/USD: having found the local bottom at 1.2070, the pair turned around and went up to the height of 1.2295. This was followed by another reversal and decline, including by Andrew Bailey's statement, to 1.2170;

- USD/JPY. Japanese Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda issued a statement on Friday May 22 that the government and the country's Central Bank would work together on putting the economy back on the path of growth. The high officials have noted that the number of bankruptcies in Japan has grown rapidly over the past month. In this regard, Kuroda announced a program worth 30 trillion yen, under which companies affected by the coronavirus pandemic will be able to obtain loans without collateral and at a zero interest rate. Such steps by the regulator to ease monetary policy push the pair up, although this movement can not be called strong. Over 2.5 weeks, its quotes increased from 106.00 to 107.60, as a result of which, having drawn the letter V, the pair returned to where it was already in early and in mid April, to the zone 107.30-108.00;

– cryptocurrencies. Let's start with secrets and mysteries. For the first time in a year, unknown people transferred more than 28 BTC ($258 thousand) to an anonymous address from the wallet where the bitcoins stolen from the Bitfinex exchange were stored. But this is not a sensation, but a topic for police investigation. The sensation is that Bitcoins, possibly belonging to Satoshi Nakamoto himself, also began to move! The crypto community has always been interested in coins mined at the origin of the network when they were mined by only a few people, including the creator of bitcoin. And now 50 BTC, which had been lying dead weight since 2009, are in motion.
According to some analysts, these and other processes are directly related to the consequences of halving. Against the background of the falling hashrate in the last recalculation, the complexity of bitcoin mining also decreased, but this has not helped to normalize the situation so far. Despite the best efforts of the bulls, the BTC/USD pair never managed to break the key level of $10,000. But, as you know, what does not grow, falls. After not waiting for the long-awaited jerk up after the halving, many traders began to eliminate their long positions and take profits, as a result of which the quotes of the main cryptocurrency fell by about 10%, to the level of $9,000.
As a result of the sell-off, the total capitalization of the crypto market fell from a May 18 high of $273 billion to $246 billion on May 21, but the value of the Crypto Fear & Greed Index is about the same level as a week ago, 42 vs. 44.
It should be noted that, despite the small drawdown of BTC/USD, the profitability of bitcoin this year was far ahead of gold. The precious metal has risen in value by 12% since January, while bitcoin has risen by about 30%. The advantage of the main cryptocurrency over the stock market looks much more impressive. For example, JPMorgan quotes fell by 37.2%, as a result of which BTC bypassed this bank in terms of market value growth by more than 200%.
But the most impressive result was not bitcoin at all, but Ethereum, which has "grown fat" by almost 55% since the beginning of the year. According to a number of experts, ETH has very good prospects as its network becomes increasingly active. This is due, among other things, to the launch of decentralized financial applications (DeFi), which reduce the circulation of coins, creating an effect similar to the BTC halving.
The main altcoin was supported by the author of the Harry Potter series of novels, J.K. Rowling. Previously, she tried to figure out bitcoin, after which she stated that she was only “trolling bitcoin in the hope of increasing her significant ethereum assets.” True, this turned out to be a joke, but additional PR to ETH coins was provided.
At the moment, apologists for the main cryptocurrency do not consider ETH a competitor - the share of bitcoin in the market is 65% compared to 8.4% for ethereum. But it is enough to recall the middle of June 2017, when these coins were close to parity - 38% and 31%, and ask the question: why should the situation not happen again?


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. As already mentioned in the first part of our review, while maintaining the current status quo, the pair has a lot of chances to stay within the side channel 1.0750-1.1000. However, further escalation of geopolitical tensions, reinforced by the repeated outbreak of the COVID-19 pandemic, is able to return gloomy moods to the markets again. Most likely, there will be no new panic, but interest in protective assets such as the US dollar will begin to grow again. For this reason, most experts (70%) do not rule out a breakthrough of support 1.0750 and a decrease of the pair to the lows of March in the area of 1.0635. The possibility of raising the pair to the zone 1.1100-1.1240 in the medium term is considered only by 30% of analysts.
Among the events that should be noted in the coming week are the release on May 28 of data on orders for durable goods, unemployment and US GDP, as well as, a day later, on May 29, data on the consumer market in the Eurozone;

- GBP/USD. Despite some positive macroeconomic data, the overall situation in the British economy does not look very happy. And this may push the Bank of England to increase the quantitative easing (QE) program by ?100 billion and lower the key interest rate to negative values. All these factors continue to pressure the pound, especially as the head of the Federal Reserve, Jerome Powell, categorically stated that his organization is not considering the possibility of imposing negative rates on the US dollar.
At the moment 70% of analysts believe that the last week's correction has finished, and the pair is expected to further decline first to the horizon of 1.2075, and then to support 1.2000. In the event of a breakout of this important level, the pair will rush to the lows of March: 1.1640 and 1.1400.
85% of oscillators and 100% of trend indicators on H4 and D1 side with the bears. The remaining 15% of oscillators give signals that the pair is oversold, which 30% of experts agree with. In their opinion, the pair is expected to return first to the central zone of the channel 1.2165-1.2650, and then, possibly, rise to its upper boundary.
The compromise option is offered by graphical analysis on D1, which draws first a rise to 1.2350, and then a decrease by mid-June to 1.1400;

- USD/JPY. A strong decline in activity in the Japanese economy (the second largest economy in Asia and the third in the world after the economies of the USA and China) continues, and therefore inflation in the country will decrease, and production growth will slow down at least until early 2021. The Bank of Japan has been trying for a long time to warm up inflation by launching various incentive programs and keeping key rates in the red zone. However, there are still no major gains in sight, and further steps in this direction will only increase the pressure on the yen. The demand for the yen as for the haven-currency is on the opposite side of the scale, which will rise as the political and economic conflicts between the US and the PRC escalate. But this factor is more likely to affect the cross-rates of the Japanese currency, as the investors also see the dollar as a protective asset, even stronger than the yen.
However, 65% of experts expect the return of the USD/JPY pair to the minimum of May 06 in the 106.00 zone at the moment. Supports are 107.30, 106.80 and 106.20. Further growth of the pair is possible according to 35% of analysts. The targets are 107.85, 108.00, 108.50 and 109.25;

– cryptocurrencies. Traditionally, first about the medium - and long-term forecasts of well-known crypto enthusiasts. So, the Bloomberg Agency cites analyst Simon Peters that within the next 18 months, bitcoin will be able to break above $20,000. According to Peters, if the US and many other states do move to negative rates, the capital investment in bitcoin will start to grow at a rapid pace. After that, taking a mark of at least $20,000 will be inevitable, and the appearance of BTC/USD near the height of $ 50,000 is not ruled out.
A somewhat smoother takeoff is drawn by entrepreneur and author of the bestseller "Rich Dad, Poor Dad" Robert Kiyosaki, according to whom, the intention of the US authorities to pour trillions of dollars into saving the pension plans will kill the economy of this country, which will cause the price of bitcoin to grow to $75,000 in three years.
If Kiyosaki measures the future of BTC by three years, renowned trader Tone Vays capped his forecast to just three days. He said live on ForkLog that “Bitcoin could rise very seriously. How high? Somewhere up to $12,000,” Vays said. And he added: "If we get stuck now and start falling to $9,000, I will expect us to fall below $8,000. Three days have passed, bitcoin is stuck at $9,000, and now, according to Vays's forecast, should we wait for its further collapse?
If we talk about the scenario for the coming week, here the votes of experts were more or less evenly distributed in the range of $8,400-10,000. But if we move on to a longer-term forecast, 80% of analysts are sure that bitcoin will still be able to gain a foothold above the $10,000 horizon by the end of June. However, of course, there are also pessimists who remind, as recently, between two “bad” dates — February 13 and March 13, just a month away, bitcoin collapsed from $10,480 to $3,845, making one think of its ultimate collapse.

NordFX Analytical Group


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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[Stan NordFX]

CryptoNews

- China can legalize the transfer of cryptocurrency by inheritance. The relevant bill has already been submitted to the Chinese authorities. The document notes that funds that will be transferred by inheritance must necessarily be registered in the form of income from mining, exchange of assets or sale of property with receipt of profit. However, this initiative has many opponents. “The community is not sure that digital assets can be brought out of the shadows by this method. If private owners decide on this, they will have to face many bureaucratic difficulties,” the Bitcoinist publication said.

- The commission for transactions in the Bitcoin network after halving has increased approximately three times. At the end of April, during the so-called lull, it amounted to about 0.6 dollars, on the day of halving - 2 dollars, now it is 6.4 dollars. Experts note that this segment of miners' earnings can partially compensate for the consequences of halving the mining reward. According to forecasts, if the trend continues, the size of the commission may soon reach $9, according to experts of Bitindocharts agency.

- After the block reward was halved, miners started disabling outdated equipment for mining BTC, resulting in a 24% decrease in their power consumption, but it still remains high. According to Digiconomist news agency, the current amount of electricity miners consume is equivalent to that of a country such as Bangladesh. And adding one bitcoin transaction to the blockchain requires as much energy as the average American home consumes for 18 days. The carbon footprint of BTC miners per transaction is equivalent to the carbon emissions of 650 thousand VISA transactions.

- BTC quotes have nearly doubled during the coronavirus pandemic. "The process of a gradual increase in the value of Bitcoin began on March 16 - Decrypt writes. - Then the schools were closed for the first time in the US, and the promotion of home-to-home food delivery and various remote services began. The Dow Jones Industrial Average and S&P500 indexes rose 22 percent and 24 percent in the same period. The increase in the value of the main cryptocurrency amounted to approximately 94%. Such indicators look especially optimistic amid the general economic crisis.”

- According to the cryptanalytic resource Coin Metrics, the number of bitcoins that are dormant and do not come into motion for one year or more, for the first time exceeded 50% of their total number. According to some analysts, such interest in BTC from long-term investors shows the fundamental health of bitcoin and is a sign of the approaching bullish rally.

- The days of bitcoin are numbered, said Twitter user MasterChangz, who is trying to hack crypto wallets by picking up private keys. According to him, the code of the main digital coin will be cracked by him within 5 years. “Now I sort through 600 million keys per second, but every two years the selection speed increases by about 10 times due to technological updates in computer technology,” wrote MasterChangz.
“Technically, picking up a private key is possible. However, it will take a lot of time,” says Bitcoin Core developer Luke Dashzhr. According to his calculations, it will take about 38593493520073954175290747912192 years to crack a simple old Bitcoin wallet using middle-class video cards.
Danny Dikroeger, developer of the Cash App, also expressed doubt about the success of the plan. He believes that even if MasterChangz can increase the computing power of technology a billion times and pick up keys for 100 years, the chance of coming across a suitable key for hacking the wallet will be 0.00000000000000000000000000000000000001%.

- Iran is preparing an expanded strategy to develop mining in the country. According to President Hassan Rouhani, the relevant industry can become a serious source of budget income with rational use of energy and reaching agreements with foreign partners. Rouhani held a meeting with specialists in the cryptocurrency industry this week, during which the prospects of launching mining at state-owned enterprises were discussed. Companies that agree to participate in this project will be able to use energy at serious discounts. “The Central Bank of Iran has already announced its readiness to support us. In the future, the role of digital assets in the Iranian economy will increase significantly, and now we have entered the phase of an active search for partners willing to work for the good of the country,” said President Rouhani.
Recall that in Iran, cryptocurrency mining is officially considered an industrial activity, and more than a thousand licenses for work in this industry have been issued over the past six months.

- Alexis Ohanian, creator of the largest crypto-site Reddit and the husband of famous tennis player Serena Williams, said that the current situation in the digital asset market resembles a full-fledged crypto spring. He said not only Bitcoin's relatively stable value plays an important role, but also its growth after the failure in early March. “From the point of view of high-end software engineers, we see a real crypto spring. The same will soon be said about the cost of coins. So far, the growth trend has been observed with a certain frequency, but an important barrier in the form of bitcoin halving has been overcome. We need to survive its minor consequences and continue to develop the industry”, — said the head of Reddit.


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[Stan NordFX]

World Confederation of Businesses Presents NordFX with Business Excellence Award​

The World Confederation of Businesses (WORLDCOB), bringing together more than 3,500 members from more than 130 countries, has recognized the NordFX broker company as the winner of THE BIZZ Business Excellence Award.

The decision was made by the WORLDCOB Evaluation Committee on the basis of the recommendations of the active members of the Confederation, as well as on the basis of a survey attended by international associations and companies engaged in marketing research. In addition, to obtain independent and objective information about the activities of a company, WORLDCOB experts requested data from leading PR and network media agencies. The data received from more than 100 chambers of commerce was also taken into account.

After that, the Evaluation Committee analyzed all the data collected on a 100-point scale, taking into account a whole range of criteria, such as business leadership, quality of services, level of management, innovation, corporate social responsibility and results achieved. Companies with 90 or more points were recognized as having excelled in business and were nominated for the BIZZ Business Excellence Award.

“It is an honor to write to you on behalf of the WORLDCOB Board of Directors. I extend our most sincere congratulations to your team at NORDFX for being selected as a winner of of our Award. You have received the recognition that you deserve, and I hope that you will become a part of the WORLDCOB family, where you can share your achievements with others", – CEO of the World Confederation of Businesses Jesus Moran congratulated the management and staff of NordFX.


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[Stan NordFX]

Forex Forecast and Cryptocurrencies Forecast for June 01-05, 2020​

First, a review of last week’s events:

- EUR/USD. The European currency has been growing all week, even despite the rather weak statistics on the Euro zone economy. The pair was helped to break through the upper limit of the 1.0750-1.1000 corridor and rise to the height of 1.1145 by the news on the recovery measures in the EU, including the EU's plans to conduct direct emission and seriously expand its budget. The Swiss Bank, which buys EUR in exchange for its national currency, also provided support to the euro.
By the end of the week, the hot activity of the bulls was somewhat cooled by the Donald Trump statement on new US measures against China. Typically, the euro falls each time, as soon as another exacerbation begins between Washington and Beijing, as this is an obvious signal for new economic problems in Europe. But, according to a number of analysts, the quotes of the European currency have already fallen so low that titanic efforts of the bears are needed for its further serious movement to the South. As a result, the pair sank only slightly below the center of the four-day rising channel and finished near the level of 1.1100;

- GBP/USD. Last week, the dollar retreated not only on the onslaught of the euro, but also in pairs with the pound and yen. The British currency strengthened its position even despite the "dovish" statements of a member of the Monetary Policy Committee of the Bank of England, Michael Saunders. Such a development of events was expected by 30% of analysts, according to whom the pair should have returned to the central zone of the channel 1.2165-1.2650. The most accurate forecast was given by the graphical analysis on D1, which traced the rise of the pair to the height of 1.2350. It was in this zone that the pound remained most of the trading session, there it set its final chord;

- USD/JPY. Most (65%) experts expected the return of the USD/JPY pair to the May 06 low in the 106.00 zone. And by the beginning of Friday, May 29, it did go down, but it only reached 107.07. Thus, the weekly volatility of the pair was less than 90 points. And this despite the fact that two months ago it easily flew ten times more in five days.
Yes, the situation with the COVID-19 pandemic is gradually returning to normal. But along with it, the difference in regulatory conditions between major currencies is gradually disappearing. Just look at the key G3 interest rates. Therefore, the volatility of the Japanese currency against the US is no longer the same as in March.
If we talk about the results of the week, the pair again found itself within the extremely narrow side corridor of 107.30-108.00, putting the final point at 107.80;

– cryptocurrencies. Let's start with the scariest news. - The days of bitcoin are numbered, said Twitter user MasterChangz, who is trying to hack crypto wallets by picking up private keys. According to him, the code of the main digital coin will be cracked by him within 5 years. “Now I sort through 600 million keys per second, but every two years the selection speed increases by about 10 times due to technological updates in computer technology,” wrote MasterChangz.
But it turned out that everything is not so scary, and Bitcoin will still live for some time. “Technically, picking up a private key is possible. However, it will take a lot of time,” says Bitcoin Core developer Luke Dashzhr. According to his calculations, it will take about 38593493520073954175290747912192 years to crack a simple old Bitcoin wallet using middle-class video cards.
Danny Dikroeger, developer of the Cash App, also expressed doubt about the success of the plan. He believes that even if MasterChangz can increase the computing power of technology a billion times and pick up keys for 100 years, the chance of coming across a suitable key for hacking the wallet will be 0.00000000000000000000000000000000000001%.
And now, having calmed down, we turn to the forecast that the experts gave for the previous week. Their votes were more or less evenly distributed in the $8,400 to $10,000 range. The same thing happened in reality, only in a slightly narrower range. At first, bitcoin quotes went down, reaching the local bottom at $8,600 on May 25. This was followed by a reversal of the trend, and the BTC/USD pair overcame the resistance of $9,600 on Friday 29 May. As some analysts believe, such growth was facilitated by a large whale transaction: according to WhaleAlert, 11,660 BTC (worth more than $111 million) were transferred between two unknown wallets.
On Friday evening, May 29, Bitcoin quotes are in the $9,400 zone. The total capitalization of the crypto market increased in seven days from $246 billion to $265 billion (+7.7%), and the Crypto Fear & Greed Index grew by 6 points - from 42 to 48.
And some more statistics. According to the payment company Revolut, after a fall in trading volumes in March by 52%, the number of customers trading cryptocurrencies increased by 68% in April. By the end of the month, the amount of digital assets purchased by each of them increased by an average of 57%. During these months, 51% of all transactions were in Bitcoin (BTC/USD), Ripple (XRP/USD) - 20%, and Ethereum (ETH/USD) - another 14%. Litecoin (LTC/USD) is in fourth place with 8% of all transactions.
The demand for the ripple is somewhat surprising because its price has decreased by almost 60 per cent over the past 12 months while bitcoin, despite all the twists and turns, has remained at zero, ending up, as at the end of May 2019, in the $9,000 zone. And this despite the fact that the XRP emission reached only 30% of the maximum volume of coins, in contrast to 87.5% for BTC. Although, perhaps, active ripple purchases are due to the fact that investors consider this altcoin to be underestimated and expect its rapid explosive growth.


As for the forecast for the coming week, summarizing the opinions of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. It is clear that at the end of the past week from 90% to 100% of indicators on H4 and D1 are looking up. And only 10% of the oscillators give signals that the pair is overbought. But almost half of analysts have doubts about the possibility of further growth of the euro. Market risk appetites are dying away, and if the US goes on the offensive in the Chinese direction, the EUR/USD pair may again turn south. It should be noted that the strengthening of the dollar in the week term is expected by only 45% of experts, but when moving to the monthly timeframe their number increases to 70%. The immediate task of the bears is the return of the pair within the channel 1.0750-1.1000, support - 1.1065, 1.1000 and the central line of the channel 1.0900. The resistances are located at levels 1.1145 and 1.1240.
Among the events to pay attention to in the coming week are the publication of data on business activity in the US (ISM) – in the manufacturing sector on June 01 and in the services sector - on June 03, data from the German and EU labor markets on Wednesday June 03, the ECB meeting and press conference on Thursday June 04, and data from the US labor market (including NFP) – traditionally on the first Friday of the month, June 05;

- GBP/USD. If there is a certain fuss in the indicator readings characterizing the lateral movement of the pair, analysts' preferences look more certain. 25% of them support the side trend, another 25% are for further strengthening of the pound, and 50% are for its fall. The latter are supported by graphical analysis on D1. In addition to the problems in the economy, the uncertainty over Brexit continues to weigh on the British currency. So, speaking in the European Parliament, European Commissioner Phil Hogan said that the UK may have decided that the conditions for a deal with the EU are now absent. Although he did not rule out that the situation could become a little clearer after the resumption of negotiations in the coming week.
At the moment, support levels are 1.2245, 1.2165 and 1.2075, resistance levels are 1.2365, 1.2465 and 1.2650;

- USD/JPY. As mentioned above, the market risk appetite has once again greatly subsided. And if US President Trump goes to further aggravate the situation with China, the dollar may start to rise sharply again. But not in relation to the yen. Investor demand for safe havens will either improve the position of the Japanese currency against the US (especially if the yield of protective bonds slips towards new lows) or keep it at the same level, as it happens the last two months.
The results of the analysts' survey and the indicators' readings look similar as well: "either, or, or..." A third looks north, a third south, and a third east. Support/resistance levels are the same: from bottom of current quotes - 107.30, 106.80 and 106.20, from top - 108.00, 108.50 and 109.25;

– cryptocurrencies. At the time of the forecast, bitcoin is consolidating in the area of $9,400. And only 30% of analysts expect that it will be able not only to break through the key level of $ 10,000 in the coming days, but also to gain a foothold above it. The harbinger of this, they believe, is the increased interest in BTC futures contracts, which pushes the value of the coin up. The remaining 70% believe that the BTC/USD pair will continue to move in the range of $8,600-9,600, although they do not rule out breakout attempts in one direction or the other.
As for the predictions of crypto gurus, as usual, everyone is waiting for the start of a new leap to unseen heights. - Alexis Ohanian, creator of the large crypto website Reddit and the husband of famous tennis player Serena Williams, said that the current situation in the digital asset market resembles a full-fledged crypto spring. He said not only Bitcoin's relatively stable value plays an important role, but also its growth after the failure in early March. So far, the growth trend has been observed with a certain frequency, but an important barrier in the form of bitcoin halving has been overcome. We need to survive its minor consequences and continue to develop the industry”, — said the head of Reddit.


NordFX Analytical Group


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

#eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #forex #cryptocurrencies #bitcoin #stock_market

https://nordfx.com/

 

[Stan NordFX]

CryptoNews

- According to JPMorgan strategist Nicolas Panigirtzoglou, the internal, or fundamental value of bitcoin has recently become consistent with the cryptocurrency market price. This is reported by The Block with reference to the expert's report. Panigirtzoglou is convinced that the gap between the rates has narrowed due to halving. According to his observations, the internal value of BTC was below the market price last January or, in other words, the first cryptocurrency was overvalued. The model from JPMorgan considers bitcoin a commodity, it takes into account the marginal costs in its production, the processing power of the equipment and the cost of electricity. "Taking into account the halving that took place on May 11, the internal value of bitcoin actually doubled," Panigirtzoglou stressed, adding that the subsequent 20% decrease in the hashrate also helped to reduce the gap between values.

- The scandalous entrepreneur and creator of the famous antivirus John McAfee called his forecast for the growth of the Bitcoin exchange rate to $1 million by 2020 "delusional". He said that this forecast, given back in 2017, was an absurd joke. “I said that Bitcoin, the most obsolete cryptocurrency technology, will reach $ 1 million. And you do not see any absurd humour in this statement? Wake up!" the entrepreneur wrote on Twitter. McAfee believes that the term “shitcoin” is perfect for the first cryptocurrency, as there are no smart contracts or decentralized applications on the bitcoin network, blocks are mined slowly, and you have to need to wait for a long time for transaction confirmations. “If bitcoin reached $1 million, its capitalization would exceed the GDP of the entire North American continent. What kind of idiot can believe this nonsense?" said McAfee.

- A trader and analyst with the nickname Positive Crypto said that the so-called 900-day Bitcoin accumulation period will soon end. When this happens, the coin will start actively striving for 100 thousand dollars. Last time, it took the main cryptocurrency about 900 days to take the barrier of 20 thousand dollars. According to Positive Crypto, the rally can now have a greater speed, which means that new highs can be seen before the end of the year. “About three years ago, the second cycle began, which will end very soon. Consolidation will be broken soon. I expect the bitcoin race to reach 100 thousand dollars, " the analyst said.

- One of the first bitcoin miners, Laszlo Hanyecz, known for buying pizza for 10,000 BTC in 2010, said he actually spent five times more on this purchase. He admitted in an interview with Cointelegraph that he had produced about 100,000 BTC in total, and about half of them had been spent on buying pizza. He spent the other 50,000 BTC on buying other things, or just handed them out. It turns out that with a bitcoin exchange rate of $10,000, Laszlo Hanyecz could have a fortune of $1 billion. However, Hanyecz does not think that he miscalculated and does not regret the lost profit: "I was not particularly greedy. I didn't think about overpaying or anything like that. With 100,000 BTC, I would be a billionaire now. But I wouldn't have eaten that pizza then," he joked.

- Oil provides 36% of the total electricity in the United States. The fall in its market value will lead to lower electricity prices, especially in Texas, which could significantly increase the income of American miners. This opinion was expressed by a well-known preacher of cryptophilosophy, Andreas Antonopoulos on his YouTube channel. “Some of the largest new mining operators have settled in Texas, and I doubt that this is a coincidence...”, - he noted.

- According to Yasuo Matsuda, senior strategist of the Japanese cryptocurrency exchange FXCoin, weakening of the Chinese national currency may play into bitcoin's hands. “China has always tightly regulated the economy,” said the FXCoin strategist, “but the coronavirus pandemic has led to an economic downturn. Especially since economic sanctions are imposed by the US. Now the country's citizens have an incentive to withdraw assets outside the PRC, and buying BTC is likely to become even more popular, which could lead to a marked rise in the BTC.”

- The creator of the videos of Eminem, Britney Spears and Lady Gaga, the famous American director Joseph Kahn spoke about his passion for crypto trading. He shared on his Twitter feed how much he managed to earn from the new hobby: “I traded cryptocurrency throughout the last month as a hobby. Making a profit of $2 to $3 at a time. I've already earned $450." Kahn said that he has not invested in cryptocurrency yet, but only invested $7,500 in trading. Based on this, his profit for the month was 6%.

- News of the transfer of 94,504 BTC worth $1 billion has stirred the cryptocurrency community. A controversy immediately unfolded among the crypto enthusiasts on the topic of what could be associated with the movement of such an impressive number of bitcoins. Most often, the event is associated with the imminent launch of bitcoin futures on the Bakkt platform, and these BTC are deposits for e-wallets of the platform. However, some believe that the transaction was made during the configuration and debugging of Bakkt systems.
There are also suggestions that the transfer was made by Craig Wright, who found the lost keys. Recall that last week a high-profile trial on charges of misappropriating coins, which he had mined together with his business partner Dave Kleiman, finally came to the end. The court ordered Craig Wright to return $ 4 billion to the family of the late Kleiman. However, Wright continues to claim that he does not have access to the mined bitcoins.

- According to the Glassnode analytical centre, almost 79% of the bitcoins in circulation remain profitable. Their price now is higher than at the time of the last transaction. Although this indicator can be considered a lagging indicator, such data is useful when you need to determine the overall market sentiment. When 95% or more of all BTC owners make a profit, this usually serves as a reliable indicator of market peak. At the turning point of the cryptocurrency rally in December 2017, this figure almost reached 100%. Conversely, when the figure falls below 50%, the market is thought to have bottomed out. This is exactly what happened during Black Thursday March 12 and the fall of markets in December 2018.
A growing percentage of profitable coins is not the only sign that the bulls will soon have another rally. Glassnode has recently reported that more than 60% of BTC had not moved within a year. Last time, similar market indicators were recorded before the start of another “bull” cycle.

- According to the report of the analytical company CipherTrace, the total amount of stolen crypto assets reached $1.36 billion in the five months of 2020. The volume of "dirty" crypto money on the exchanges decreased.
CipherTrace discovered that Finnish cryptocurrency exchanges are in first place for receiving dirty bitcoins. 12% of BTC entering there are of illegal origin. The second place is occupied by Russian platforms - 5.23% of all the funds received by them were previously used on the darknet or received as a result of attacks by hackers and ransomware. This is followed by the British exchanges, which account for 0.69%. The share of illegally obtained cryptocurrencies on German, Japanese and American exchanges is less than 0.1%.


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[K_Robdog]

Is this the same Nord as Nord VPN?

 

[Stan NordFX]

Is this the same Nord as Nord VPN?

NordFX broker has no relation to Nord VPN service.