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A Swift Lesson

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Of all the big brand names that have reinvented themselves in the last few years, perhaps the most successful has not been a company at all but a pop singer.

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According to an article in Forbes magazine, there’s a lot we can learn from Taylor Swift’s groundbreaking release of her new hit single Look What You Made Me Do

Though the music is not my favorite, you can’t help but admire the way Swift handles everything from the Music to Social Media, and right down to the way her CDs (apparently people are still using them) are distributed.

Every leader in business should read the above-linked article and take a few lessons from the pop diva.

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@MatiGreenspan
eToro, Senior Market Analyst

 

Please note: All data, figures & graphs are valid as of September 18th. All trading carries risk. Only risk capital you can afford to lose.

Market Overview

As the missiles fly towards Japan and the Supreme Leader Kim Jong Un vows to reduce the United States to ashes and darkness, CNN gets an excellent glimpse into the minds of the citizens of the DPRK.

When you have a moment, check out: Secret State

Understanding the conflict of North Korea might be able to give us a good insight into what’s taking place in the global markets and how to position yourself.

Of course, understanding what’s happening with the US Dollar will give us a better insight. This morning, the markets are all googly eyed about the upcoming FOMC meeting on Wednesday that will likely decide the fate of the greenback and could determine its course going forward.

The US Dollar has been losing against all the major currencies big league for the past few months. Here we can see the relative performance since the beginning of the year.

The FOMC has the power to reverse this trend or to plunge the Dollar further. The Fed Chair Janet Yellen’s time as the head may be coming to a close in February, possibly depending on what she does this week.

More Immediately

As we’ve discussed at length in previous updates, the central banks are the ones who control the markets. Since 2009 they have been the biggest buyers of bonds, ETFs and other financial assets and their appetite is one of the only things that determine the direction of stocks, commodities, and currencies.

Today we’ll hear from the Governor of the Bank of England Mark Carney who will be addressing the International Monetary Fund in Washington DC. Mark is generally considered a leader of central bankers and what he says can actually influence other countries as well.

Carney moved the British Pound last week and pushed it to the highest level since the night of the Brexit Referendum. Today’s speech is expected to be more global in focus and could give us a clue as to what strategy all of the central banks may adopt going forward.

China Ban Hammer

More cryptocurrency exchanges closed down in China. It’s been a steady decline since the People’s Bank decided to ban all ICOs. They never expressly came out and ruled that all cryptocurrencies should cease. However, by the fact that many exchanges are voluntarily closing their doors we can probably deduce that the Chinese government had some part in these decisions.

The feeling from Chinese Crypto Enthusiasts is that the government may be able to wound Bitcoin but does not have the power to kill it. Bitcoins can easily be bought in Hong Kong, and even more easily in Japan. Two countries that Chinese citizens visit often. So what’s to stop people from bringing them back and trading them peer to peer?

The Crypto Market is on a rampage this morning as it seeks to regain the losses from the past two weeks.

Bitcoin itself spent about 20 minutes below $3000 a coin on Friday but today is testing the $4000 level. Other cryptocurrencies are moving even faster than that with Ethereum and Litecoin gaining 18% and 13% respectively over the last 24 hours.

Let’s have an amazing week ahead!

This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.
The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.

Past performance is not an indication of future results. All trading involves risk; only risk capital you are 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.



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2 Comments

2 Comments

  1. derick

    September 18, 2017 at 6:09 pm

    hello could you please send me the link to this article “As we’ve discussed at length in previous updates, the central banks are the ones who control the markets.” mentioned above.
    thanks

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Cryptocurrencies

Trade Recommendation: Stellar

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The price bounces from SMA50 which is a support line for the market. MACD lines support upward movement. Also we can draw a pennant chart pattern which also confirms further upward movement. If the price breaks the resistance line of the pennant, this pattern will be realized as a continuation pattern. It will give us an additional confirmation of the upward movement. Pending orders for buy should be placed at 0.035000 level with stop orders at 0.028000 level. The main profit target should be at 0.048000 level. The part of trade volume can be left for the higher target at 0.070000 level. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Market: STRUSD
Buy: 0.035000
Stop: 0.028000
Profit Targets: 0.048000

The trading signal is based on Poloniex chart.

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Cryptocurrencies

Trade Recommendation: Lisk

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A new attempt to catch a trend reversal. The price diverges with MACD and it gives us a buy signal on the falling market. DMI allows to open long trades. We should place pending orders for buy above the previous high at 0.000840 level. Stop orders must be placed below the support at 0.000680 level. Profit targets are 0.001200 and 0.001400 levels. The part of trade volume can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Market: LSKBTC
Buy: 0.000840
Stop: 0.000680
Profit Targets: 0.001200 and 0.001400

The trading signal is based on Bittrex chart.  

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Ether Prices Fall Below $300 Amid Technical Breakdown

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Ether declined against the dollar this weekend, and is now approaching a critical support level as the market corrected lower following last week’s failed rally.

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$350 Proves Elusive

ETH/USD was last seen trading around $293, down more than 1% from the previous close. Technical headwinds are limiting ether’s momentum, according to the MACD and Relative Strength Index (RSI).

Ether’s rally last week stopped short at $350 on two occasions, as the bulls disavowed their long positions. The subsequent breakdown through the weekend erased 16% from Ethereum’s value.

At present levels, the Ethereum blockchain is capitalized at nearly $28 billion, according to CoinMarketCap.

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The world’s second-largest digital currency by market cap faces immediate support near $290. On the opposite side of the spectrum, resistance is likely found in the $305-$310 region.

Upgrade Still Not Stable

Ether underwent a successful hard fork last week, but the blockchain has yet to be deemed stable by its chief developer Vitalik Buterin. Ethereum’s chief architect has already informed the market that up to two months of further testing may be needed to fully secure the blockchain.

The first leg of the Metropolis hard fork occurred last Monday after block 4,370,000 was mined. The blockchain successfully avoided a chain split even after Geth developers addressed a last-minute denial-of-service (DoS) vulnerability. Geth is the most popular software on the Ethereum network.

The Metropolis protocol will require a second update, called Constantinople, before it is function. No timeline for the Constantinople upgrade has been provided.

Ethereum has been one of the main participants of this year’s cryptocurrency rally. It has also emerged as the platform of choice for startups to launch their initial coin offerings (ICOs). The vast majority of ICOs covered by Hacked.com have been developed on the Ethereum blockchain. This weekend, the author conducted an in-depth review of Spectre, a broker-less trading platform powered by ether.

Featured image courtesy of Shutterstock.

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.



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