$5 Billion Day | Hacked: Hacking Finance
user

Market Overview

$5 Billion Day

Posted on .

$5 Billion Day

Introduction

This article was posted on Friday, 16:49, UTC.

Are you sick of hearing about fake news? How about reading it?

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

It seems that a new startup in Poland was so tired worrying about this that they came up with a solution. Why not put all the news on the blockchain??

The program called Userfeeds will be built on top of the Ethereum network and will incentivise users to rank content based on its accuracy and not by shock value, as most social networks currently do.

This is just one example of how the over the next few years we will likely see a massive migration from regular Internet to blockchain based technology.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Market Overview

Some reassuring results are now coming out of the UK. Yesterday they held local elections across the region, which is said to give us an insight about how people will be voting in the general elections on June 8th.

So far, it’s Theresa May with a strong hand. The votes are still being counted but early indications are very good for the conservative party. Yet to be counted are the Scottish votes, which are arguably the most dangerous ones for May.

Going into election weekend, everything looks quiet in France, too quiet…

According to a recent poll from Goldman Sachs, 15% of participants feel that Marin Le Pen’s chances of victory are 50-50. Most betting sites are currently putting her odds at about 1:10, which is still not unthinkable.

The markets are currently putting her odds far less than that. Gold has been falling for the past two weeks and the USDJPY has been climbing. These are the two biggest indications of a ‘risk on’ market. Though we have seen a bit of a reversal in the past few hours, the European Indices just opened with full confidence.

Warning: Depending on the result of the French elections, there is a possibility of some extremely wide gaps over the weekend.

Huge Moves in Crypto-land

Some wild action going on in the cryptocurrency markets right now.

Yesterday saw bitcoin $1623 a coin before a massive pullback. The retracement lasted about two hours and from peak to trough we’re looking at a movement of $179.

About 30% of the volume in eToro was closed at Stop Loss. The good news is that most of the Stop Losses were set in profits. 🙂

For now, many are on the fence waiting for a good spot to get back in.

Ethereum passed an important milestone this morning, passing $100 a coin on some exchanges. Ethereum’s market cap now stands at a total of $9 Billion, doubling its value in the span of just two weeks.

The overall market cap of all digital coins that we spoke about in yesterday’s update has indeed accelerated growing approximately $5 Billion in the last 24 hours!!!!

This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation.

Past performance is not an indication of future results. All trading carries risk. Only risk capital you’re prepared to lose.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Mati Greenspan

Mati Greenspan

https://www.etoro.com/

Senior Market Analyst at Etoro.com.

Comments
  • user

    AUTHOR Ershad

    Posted on 9:57 pm May 5, 2017.

    Hi Mati,

    Thanks for article, I wanted to get back into the bitcoin market but prices are so high at the moment, should there be a pullback can you recommend a good price to catch the fall?

    Kind regards
    Ershad

    • user

      AUTHOR Mati Greenspan

      Posted on 1:51 pm May 9, 2017.

      Hi Ershad,

      Short term trading is so tricky. Indeed by the time I’ve replied to you here the price has already moved leaps and bounds.

      Feel free to check the bitcoin wall on eToro. There are always people there discussing every move.

      Best regards,
      Mati Greenspan

  • View Comments (2) ...
    Navigation
    The team:
    Dmitriy Lavrov
    Analyst
    Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
    Jonas Borchgrevink
    Founder
    Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
    Mate Csar
    Analyst
    Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
    Mati Greenspan
    Analyst
    Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
    Rakesh Upadhyay
    Analyst
    Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
    Pamela Meropiali
    Account Manager
    Pamela Meropiali is responsible for users on Hacked.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
    Joseph Young
    Journalist
    Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
    DAX: Short-Term Sell   DAX, 4-Hour Chart Analysis The DAX…