Bitcoin has been
trading sideways for the entire month now. The BTC/USD pair has made 2
unsuccessful attempts to break through the bearish level of $ 40,000 and 3
failed attempts to break through the bullish $ 30,000.
While bitcoin is
stagnant, traders have switched their attention to altcoins. After the BTC rate
began to correct from $ 42,000 area, the altcoin market came to life: billions
of dollars are circulating on crypto exchanges every day.
If you are stuck with
Bitcoin trades, it’s time to take profits and look around: altcoins are
becoming more and more attractive every day. Let’s start our analysis with
Ethereum, the second most popular cryptocurrency.
1. How did the first Forex market look?
The barter system is the oldest method of exchanging goods for other goods. It was first introduced in 6000BC by Mesopotamia tribes. Back in the day, salt and spices were used as the main mediums of exchange. This is how the first-ever form of foreign exchange looked like. Eventually, the first gold coins were produced in the 6th century BC, and they acted as a currency. Although gold coins were widely accepted as a medium of exchange, they appeared to be impractical because they were quite heavy. In 1875, the countries adopted the Gold more…
Friday payrolls from the USA appeared strong. It is important to mention that not only employment increased but either wages growth accelerated. Thus, all together those indicators shifted expectations what gave the powerful impulse to buying USD against most currencies. For EURUSD this strong data resulted in a big drop of 110 points and in a support level a bit higher 1.10. At the beginning of the new week the pair was traded around this level, reflecting the traders’ search for new impulses. Trade has been consolidating around 1.10 since the end of June. As well the pair is traded currently more…