US dollar hits new 20-year high — 5 things to know in Bitcoin this week
A familiar tale of losing stocks and a surging greenback greets Bitcoin traders this week as $20,000 fails to sustain as support. Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout.After the U.S. Federal Reserve reinforced hawkish comments on the inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath.A fairly nonvolatile weekend did little to improve the mood, and BTC price action has returned to focus on areas below $20,000.In so doing, multiple weeks of upside have....
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Here's a look at what we are focusing on in the bitcoin price this morning. So we’ve come to the end of the week, and it’s been an interesting one! We’ve had a couple of classical patterns, some intrarange action, and some nice breakout scalps. All of these things have given us opportunities to get in and out of the markets for a few good take profit hits. We’ve also seen a few stop loss hits, but as things stand, we remain net up on the market. We’ve got one day’s worth of trading left, and we want to try and make the most of it. As we head into today’s session, then, what are we looking....
Eight days ago, the euro tapped a record low against the U.S. dollar as it hit $1.028 per unit against the USD last Tuesday. This week, the official currency for 19 of the European Union’s member states reached parity against the U.S. dollar for the first time in 20 years. Euro Hits Parity Against the US Dollar, Greenback Skyrockets Against a Basket of Fiat Currencies Even though it was a goal for the European Union (EU) to introduce a sovereign fiat currency for the EU back in the sixties, the euro did not get introduced until January 1, 1999. At first, the euro was introduced....
Bitcoin was back above $20,000 on Tuesday, as the U.S. dollar fell to its lowest point in two weeks versus several G7 currencies. The stronger dollar has impacted purchasing power in cryptocurrencies, and commodities like crude oil, which last week fell to a nine-month low. Ethereum was also up, hitting a five-day high. Bitcoin Bitcoin (BTC) briefly rose above $20,000 on Tuesday, as the U.S. dollar continued to decline versus other major currencies. This has resulted in the world’s largest cryptocurrency climbing to a peak of $20,071.20 earlier in today’s session.....
The end of 2016 will be filled with fireworks, and the year 20017 could be a defining moment for a lot of assets. We live in very exciting financial times right now, and things are changing at an accelerated pace. The US Dollar almost touched its 14-year high peak earlier today. At the same time, Australian stocks are on the rise, as Japanese shares are not doing too bad either. On the non-traditional finance front, the Bitcoin price continues to increase. The year 2016 has been quite positive for the US Dollar, all things considered. Now that the currency sees its yield premium widen....
The US dollar index, which tracks the greenback's strength against the strongest global foreign currencies, broke below a crucial upward sloping support.