Mate Cser on June 22nd, 2017.
Cryptocurrencies had a very quiet day, with Ethereum’s slide and Ripple’s pull-back defining sentiment. Bitcoin recovered after yesterday’s dip, and finished the US session near the $2700 level again. With financial markets definitely in summer mood, short-term traders might be in for more frustrating days and sudden moves in both...
Mate Cser on June 22nd, 2017.
Thursday Market Recap Asset Current Value Daily Change S&P 500 2438 0.17% DAX 12798 0.27 WTI Crude Oil 43.23 1.65% GOLD 1253.00 0.45% Bitcoin 2713 0.23% EUR/USD 1.1161 0.07% The US Dollar has been drifting lower since yesterday afternoon, and that shaped the move in the otherwise calm financial markets. Global stock markets are mixed...
Mate Cser on June 21st, 2017.
It’s been a strange and slightly bearish day for the crypto-market following the sudden spike lower in altcoins yesterday, as Bitcoin failed to follow through on its strength, but altcoins also acted weak, especially Ethereum. Ripple also pulled back heavily after its strong move while Litecoin remained strong, trading just below its...
Mate Cser on June 21st, 2017.
Wednesday Market Recap Asset Current Value Daily Change S&P 500 2438 0.03% DAX 12789 -0.21% WTI Crude Oil 43.84 0.74% GOLD 1247.00 0.24% Bitcoin 2720 2.53% EUR/USD 1.1144 0.07% Global markets are recovering from the small shock that Donald Trump caused yesterday, when he updated the world regarding North Korea on Twitter. The unusual...
Mate Cser on June 21st, 2017.
Altcoins got under pressure yesterday in late trading, and the up and coming coins also felt the sudden shift towards BTC following a promising Monday session. The consolidation patterns that were dominant before Monday are generally intact on the charts of the small cap coins, and the bullish overall picture remains unchanged, but the...
Mate Cser on June 20th, 2017.
Cryptocurrencies had another calm day, until the end of the US session, at least, when a tweet from Donald Trump regarding North Korea caused turmoil in financial markets. Altcoins were sold and Bitcoin got bought after the announcement that reignited speculation about a possible “intervention” by the US. Most coins recovered quickly off...
Mate Cser on June 20th, 2017.
Tuesday Market Recap Asset Current Value Daily Change S&P 500 2443 -0.17% DAX 12847 -0.28 WTI Crude Oil 43.12 -2.92% GOLD 1244.00 -0.20% Bitcoin 2643 2.13% EUR/USD 1.1125 -0.20% Crude oil trades on a new 8-month low today, as the growing US and global supply, the OPEC-related wows, and the mounting economic worries all weigh on the...
Mate Cser on June 19th, 2017.
Monday Market Recap Asset Current Value Daily Change S&P 500 2449 0.75% DAX 12888 1.07% WTI Crude Oil 44.66 -0.67% GOLD 1247.00 -0.45% Bitcoin 2593 0.32% EUR/USD 1.1152 -0.40% Financial markets mostly continued their post-Fed trends today, with the US Dollar trading higher once again and stock markets remaining in a choppy uptrend...
Mate Cser on June 19th, 2017.
The most promising up and coming coins experienced fairly similar price action in recent weeks, even as the rallies were not perfectly synchronized. Digibyte, Stratis, and Bitshares are all in sideways consolidation patterns after the strong advance in early June, while Zcash and Golem are taking a slightly different route, while still...
Mate Cser on June 19th, 2017.
The cryptocurrency market had a relatively calm weekend after the strong correction and rebound on Thursday and Friday. Litecoin’s surge to a new all-time high was the most important move of the period, while Dash also confirmed the relative strength that it has been showing, as it crept back up to the $200 level. ETC also broke out of...
Mate Cser on June 18th, 2017.
1. The NASDAQ US stocks are facing another challenging time, as summer seasonality is here, meaning a negative expected return for the next few months. What’s more, the recent price action has been suspicious, especially the NASDQ’s sharp correction that left traders wondering about how stable the market actually is. The tech...
Mate Cser on June 17th, 2017.
Weekly Recap Asset Current Value Weekly Change S&P 500 2434 0.23% DAX 12750 0.31% WTI Crude Oil 44.68 -2.24% GOLD 1256.00 -1.02% Bitcoin 2565 -10.11% EUR/USD 1.1195 -0.10% Central banks and cryptocurrencies stole the show this week, as the Bank of England, The Bank of Japan, the SNB, and most importantly, the Federal Reserve all held...
Mate Cser on June 16th, 2017.
Friday Market Recap Asset Current Value Daily Change S&P 500 2433 0.07% DAX 12732 0.33% WTI Crude Oil 44.80 0.72% GOLD 1258.00 0.25% Bitcoin 2450 5.83% EUR/USD 1.1202 0.07% Stock markets are slightly higher globally today, as the US Dollar is correcting its strong post-Fed move in quiet trading. The Bank of Japan was in focus today,...
Mate Cser on June 16th, 2017.
Coins rebounded strongly yesterday after the morning massacre as both Bitcoin and Ethereum respected the support levels that we have been monitoring. The quick correction sliced a large chunk out of the capitalization of the majors, but the whole segment “only” lost a bit more than 10%, as of now, according to Coinmarketcap. The total...
Mate Cser on June 15th, 2017.
The Fed increased interest rates by 25 bp, to 1-1.25%, while announcing a gradual decrease of its balance sheet, that equates to a very slow tightening of monetary conditions The Fed announced that it will keep a close eye on inflation, but didn’t mention the slowdown in consumer spending and other risks The markets still pricing in an...
Mate Cser on June 15th, 2017.
Thursday Market Recap Asset Current Value Daily Change S&P 500 2424 -0.44% DAX 12691 -0.89% WTI Crude Oil 44.52 -0.42% GOLD 1257.00 -1.45% Bitcoin 2278 -7.23% EUR/USD 1.1145 -0.67% The Dollar is up and everything is down after the Fed decision, that’s the short summary of the day, so far, although not all markets agree with the...
Mate Cser on June 15th, 2017.
How long will the correction last? This is probably the biggest question in the minds of the crypro-trading community right now. As we warned yesterday, and (a little early) last week, Bitcoin and Ethereum were overbought on the long run and we concluded that: (…) a 30%-40%-50% correction, that has been the normal for Bitcoin in the...
Mate Cser on June 14th, 2017.
The key takeaway’s from today’s rate decision and statement: The Federal Reserve hiked interest rates to the target range of 1-1.25% as expected The FOMC plans to shrink its balance sheet later on this year, with no precise date included No significant mention of the recent softness in economic data, although the FED will...
Mate Cser on June 14th, 2017.
The Monday correction is gathering strength again after a breather yesterday, as BTC failed to launch a new rally towards all-time highs and rolled over after the bounce. Correlations are high once again, as it is usual for a correction, and it’s likely that BTC and Ethereum will dictate the trend of the coming days, with small cap coins...
Mate Cser on June 14th, 2017.
Wednesday Market Recap Asset Current Value Daily Change S&P 500 2436 -0.15% DAX 12835 +0.44% WTI Crude Oil 44.76 -3.72% GOLD 1279.00 0.81% Bitcoin 2630 -3.56% EUR/USD 1.1277 0.60% The usual pre-Fed trading fell apart today as the much worse than expected US CPI and Retail Sales reports caused turmoil before tonight’s important...