US Dollar Hits Bump in the Road Ahead of Fed Minutes by Bogdan Giulvezan Last week’s U.S. Non-Farm Payrolls report posted better than expected numbers and showed that 850K new jobs were created in June, while the general consensus was 725K. However, the strong reading was overshadowed by an uptick in U.S. unemployment, as the […]
VISA Boards the Crypto Train by Bogdan Giulvezan Ethereum’s long-anticipated London hard fork, which will introduce the EIP-1559 upgrade, has been deployed on the Rinkeby testnet. This is the final test environment and the full London upgrade is scheduled at block 12965000, which is estimated to be reached on August 4. According to Ethereum developer […]
Potential Influx of 350 Billion Euro into the Bitcoin Pool. by Bogdan Giulvezan Today a German law approved earlier in April this year is coming into effect and could potentially generate a massive influx of capital into the crypto market. The new law allows institutional funds to allocate up to 20% of their holdings into […]
Range-Bound Trading Ahead by Bogdan Giulvezan The EUR/USD pair settled just a few pips below the technical level at 1.1970, which has rejected climbing prices twice in the last few days. The pair is showing signs of indecision, as price action has slowed down and long-wicked candles have appeared. Last week’s softer than expected U.S. […]
Salvadorans, Rejoice. Free Bitcoin for All! by Bogdan Giulvezan As most of you probably know by now, a bill was recently passed in El Salvador, giving Bitcoin the status of legal tender in the country. The law will come into effect in September and all businesses will have to accept Bitcoin as a form of […]
Fed Signals Sooner-Than-Expected Tapering The US Dollar Index (DXY) gave back some gains on Monday and slipped to 92.115 from a 92.405 high reached Friday on the back of a surprise hawkish switch by the Fed. The dollar jumped almost 2.0% last week (which marks the biggest gain since March of 2020), as investors rushed […]
El Salvador Was First To Embrace Bitcoin by Bogdan Giulvezan Recently we’ve learned that El Salvador passed legislation that made Bitcoin legal tender in the country, which means that the flagship cryptocurrency will be accepted as a form of payment at all businesses, just like the US Dollar. News surfaced today that Carlitos Antonio Rejala […]
Fed Meeting Eyed for Next Direction by Bogdan Giulvezan Last week’s inflation data gave a surprising boost to the US Dollar, as Thursday’s report showed the CPI and the Core CPI had improved 0.6% (expected 0.4%) and 0.7% (expected 0.5%), respectively. As a result, the US Dollar posted the biggest weekly gain in about a […]
Bitcoin – Legal Tender in El Salvador! At the Bitcoin 2021 Conference that took place last weekend, El Salvador’s President Nayib Bukele announced in a pre-recorded video message that he would propose a bill aiming to make Bitcoin legal tender in El Salvador. Tuesday the bill passed with a vast majority (62 votes out of […]
Bitcoin Falls $40K as Musk Fires Ambiguous Tweets By Bogdan Giulvezan Since Tesla kingpin Elon Musk expressed concerns regarding Bitcoin’s environmental impact, the flagship digital currency has been on a skid, losing more than 40% compared to April’s high at $64,800. Yesterday, Bitcoin managed to break the $39,000 barrier but wasn’t able to put any […]