Global Easy Forex's Forum

News:

  • Discussion about Forex Trading.
    关于外汇交易的讨论
     مناقشة حول تجارة الفوركس
    Обсуждение Торговля на Форекс
    เริ่มเทรดหุ้นฟอร์เร็กซ์ได้เดี๋ยวนี้!
    Bắt đầu giao dịch ngoại hối ngay bây giờ!
  • Start Trading Forex Now!
     立即开始外汇交易!
     ابدأ تداول الفوركس الآن!
    Начать торговую валюту сейчас!
    พูดคุยเกี่ยวกับการเทรดหุ้นฟอร์เร็กซ์
    Nói về giao dịch ngoại hối
  • Make Forex learning easy!
     让外汇学习变得简单!
     جعل تعلم الفوركس سهل!
    Сделайте обучение Forex легким!
    ทำให้การเรียนรู้หุ้นฟอร์เร็กซ์เป็นเรื่องง่าย!
    Làm cho việc học ngoại hối thật dễ dàng!
Global Easy Forex is the website that help you know how to start trading forex and related topic financial discussion and news
Start Trading Forex Now! 立即开始外汇交易! ابدأ تداول الفوركس الآن! Начать торговую валюту сейчас! เริ่มเทรดหุ้นฟอร์เร็กซ์ได้เดี๋ยวนี้! Bắt đầu giao dịch ngoại hối ngay bây giờ!
Discussion about Forex Trading. 关于外汇交易的讨论 مناقشة حول تجارة الفوركس Обсуждение Торговля на Форекс พูดคุยเกี่ยวกับการเทรดหุ้นฟอร์เร็กซ์ Nói về giao dịch ngoại hối
Make Forex learning easy! 让外汇学习变得简单! جعل تعلم الفوركس سهل! Сделайте обучение Forex легким! ทำให้การเรียนรู้หุ้นฟอร์เร็กซ์เป็นเรื่องง่าย! Làm cho việc học ngoại hối thật dễ dàng!

Author Topic: The U.S. Dollar Is Crushing Bitcoin  (Read 114 times)

ForexMan

  • Jr. Member
  • **
  • Posts: 54
    • View Profile
on: September 15, 2018, 01:30:26 PM
Bitcoin prices fell below $6,500 this week following reports that Goldman Sachs (GS) is scrapping plans to roll out a cryptocurrency trading desk. However, some analysts say Goldman isn't bitcoins biggest problem, and the currency is getting crushed under the weight of a strong U.S. dollar.

Business Insider reported on Wednesday that unnamed sources familiar with the matter say continued uncertainty involved in cryptocurrency regulation has made Goldman reconsider launching a bitcoin trading desk. The latest news comes after the U.S. Securities and Exchange Commission issued another round of rejections and delays on bitcoin exchange-traded fund applications earlier this year. Goldman’s potential backpedaling on cryptocurrency trading is another blow to the confidence of bitcoin bulls hoping for mainstream cryptocurrency adoption.

A sell-off on Thursday put bitcoin prices down 52.2 percent year-to-date, but eToro analyst Mati Greenspan says regulations, the SEC and Goldman Sachs are not the main reasons for bitcoin’s decline. Greenspan says the rally in the U.S. dollar has claimed plenty of victims in recent weeks, and bitcoin is one of them.

“My favorite explanation lately remains the strength of the U.S. dollar,” Greenspan says. “The USD has been the global reserve currency for decades now, so for as long as it is showing strength and bitcoin is perceived to be in a bear market, many people will likely be looking to the buck as a more stable store of value."

In the past six months, the U.S. Dollar index, which tracks the value of the dollar versus a basket of international currencies, is up 5 percent. Analysts have been calling for an end to the dollar rally for months now, but it has remained resilient up to this point.

Nicholas Colas, co-founder of DataTrek Research, says the damage done to the cryptocurrency market in 2018 will likely take a long time to undo.

“We’ll keep watching our indicators, but for now the action looks more like a bottoming process than an actual low,” Colas says.

.:https://www.msn.com/en-us/money/savingandinvesting/the-us-dollar-is-crushing-bitcoin/ar-BBMZ6Wl



 

Related Topics

  Subject / Started by Replies Last post
2 Replies
1926 Views
Last post September 05, 2018, 05:27:45 PM
by dqasaa
0 Replies
792 Views
Last post August 28, 2018, 04:12:09 PM
by slkidong
0 Replies
226 Views
Last post September 15, 2018, 01:28:08 PM
by ForexMan
1 Replies
153 Views
Last post September 20, 2018, 03:41:45 AM
by Dargga
0 Replies
150 Views
Last post September 18, 2018, 01:33:25 PM
by ForexMan

-
-
---------
-
Disclaimer By viewing any material or using the information within this site, you agree that it is general educational material whether it is about learning forex online or not and you will not hold anybody responsible for loss or damages resulting from the content provided here. Investing in financial product is subject to market risk. Financial products, such as stock trading and forex, are very speculative and any investment in them should done carefully, desirably with a good personal risk management. Forex trading, Stock Trading and commodity specultion have big potential rewards but also big potential risk.

Prices movement in the past and past performance of certain traders are by no means an assurance of future performance or any forex market or stock market movement. This website is for informative and discussion purpose in this website only. No one here can makes no warranties or guarantees in respect of the content, whether it is about forex trading or not. Discussion content reflects the views of individual people only. The website bears no responsibility for the accuracy of forum member’s comments whether about learning forex online or not and will bear no responsibility or legal liability for discussion postings.

Investment tutorial, opinions and comments presented on this website do not represent the opinions on who should buy, sell or hold particular investments,forex currency pairs, or any products or forex courses. All investors should conduct their own independent research before making any decision.

The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. You should obtain individual financial and forex trading advice based on your own particular circumstances before making an investment decision on the basis of information about forex and non-forex matter on this website.

As a user, you should agree, through acceptance of these terms and conditions, that you should not use this forum to post any content which is abusive, vulgar, hateful, and harassing to any forex traders and non-traders.