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11 03, 2024

Bitcoin’s New Highs And BNB’s Revival

By |2024-03-11T12:24:12+02:00March 11, 2024|Forex News|0 Comments


The surge in trading activity has helped to revitalise BNB, which is adding over 4% for the day. It has gained 25% in 7 days, twice that of Ethereum and three times ahead of Bitcoin during this interval. However, like Ether, it is about 15% away from the record highs of late 2021.

Crypto News

BlackRock’s spot BTC-ETF iShares Bitcoin Trust (IBIT) managed to accumulate almost 200,000 bitcoins in two months, becoming one of the largest holders of BTC in the world and surpassing MicroStrategy, which has 193,000 BTC on its balance sheet.

According to The Block, investors have built up a substantial volume of open positions with an expiry price of $70K on Bitcoin call options redeemable on 29 March. Bets on BTC rising to $80K over the next three weeks have also increased.

According to Bloomberg data, bitcoin miners set a monthly record for energy consumption. They consumed a record 19.6 GW of electricity in February, up from 12.1 GW in the same period a year earlier. The rise in BTC has prompted mining companies to spend more than $1bn on new equipment over the year.



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11 03, 2024

The Market News Today: BlackRock’s iShares ETF Surpasses MicroStrategy in Bitcoin

By |2024-03-11T11:37:48+02:00March 11, 2024|Forex News|0 Comments


Walmart is set to transform online shopping with its generative AI, aiming to become a singular destination for event planning needs. CEO Doug McMillon, after the company’s February earnings call, highlighted the significant improvement in their app’s search function, made more efficient and solution-oriented thanks to generative AI. This innovation positions Walmart not just as a product provider but as an event planner, simplifying the customer experience. The move reflects a broader shift in the retail sector, with major players like Instacart, Amazon, and Shopify also integrating AI in search and shopping processes. This tech evolution is reshaping how consumers find products, potentially challenging Google’s dominant position in search. The future of online shopping could see a seamless blend of AI-driven personalized recommendations and efficient search functions, offering a more intuitive and convenient experience for customers. (CNBC)

Silver Set to Outshine Gold Amid Rate Cut Expectations

Gold’s impressive rally, with prices recently hitting a peak of $2,178 per ounce, could see a continuation as investors anticipate interest rate cuts. However, silver is poised to steal the spotlight in the latter half of the year. Despite gold’s strong performance, silver’s dual role as both a precious and industrial metal places it in a unique position for growth. Current spot silver prices are at $24.36 per ounce, showing modest gains after a significant 5% increase last week. Market strategists suggest that silver’s potential outperformance is linked to expectations of global economic growth, particularly if the U.S. Federal Reserve cuts rates as inflation nears target levels. This shift could see silver, often seen as gold’s underperforming relative, emerge as a stronger investment choice, especially given its widespread industrial applications, from electronics to solar panels. Analysts indicate that a sustained move above the $24 mark could signal further upside for silver, outpacing gold in the coming quarters. (CNBC)

China’s Real Estate: No Bailout, Shift to Manufacturing Focus

China’s struggling real estate sector is set for a reality check, as authorities, led by Housing Minister Ni Hong, dismiss the possibility of a major bailout for developers. In a firm stance, Ni announced that companies facing severe insolvency should either declare bankruptcy or undergo restructuring, adhering to market principles and legal norms. This tough approach is part of a broader effort to clamp down on property market speculation and reduce the sector’s overwhelming influence on the economy. The government’s focus has shifted towards bolstering high-end manufacturing, rather than emphasizing the once-dominant real estate industry. Despite some financing relief for certain developers, the overarching national policy remains unaltered. Real estate, previously accounting for about a quarter of China’s GDP, is now receiving significantly less attention in governmental discussions, aligning with Beijing’s aim to diversify and stabilize the economy. (CNBC)



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11 03, 2024

$100,000 Bitcoin (BTC) Before Halving? Top Analyst Indicates Three Scenarios

By |2024-03-11T10:48:24+02:00March 11, 2024|Forex News|0 Comments


Contents

As Bitcoin (BTC) exceeded the $70,000 level for the first time in its 15-year history, more and more experts are trying to predict the potential of its correction.

Bitcoin (BTC) correction levels by Michaël van de Poppe: $52K, then $45K?

Bitcoin (BTC), the largest cryptocurrency, established momentum where a new all-time high has been achieved, says seasoned analyst and trader Michaël van de Poppe. As Bitcoin (BTC) is approaching its fourth halving event in six weeks, the asset might be at a crossroads.

Van de Poppe shares three scenarios for BTC in the midterm: It could either reach $100,000 pre-halving, post-halving, or enter a correction phase with an “altcoin summer.”

Should a correction be in the cards for the orange coin, the analyst highlights $52,000 and $45,000 as potential support levels.

A number of more bearish scenarios include a further drop to mid-$30K zones or even lower.

As of press time, Bitcoin (BTC) is changing hands at $68,339 with a 1.24% upsurge in the last 24 hours. The net trading volume added 35% and exceeded $56 billion in equivalent.

$105 million in BTC shorts, longs liquidated

Largely, the followers of van de Poppe are enthusiastic about Bitcoin (BTC) in the midterm and foresee growth of the asset before the halving.

The fourth Bitcoin (BTC) halving event is set to happen April 18; BTC mining rewards will drop to 3.125 coins per block.

In the last 24 hours, Bitcoin (BTC) jumped to $70,000 on some exchanges, but then retraced to $66,400. As such, both bulls and bears saw their positions liquidated.

Out of $105 million in erased Bitcoin futures, bears are responsible for $56 million in 24 hours, CoinGlass statistics say.





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11 03, 2024

Bitcoin takes another look above $70,000 to start the week

By |2024-03-11T10:02:23+02:00March 11, 2024|Forex News|0 Comments


Bitcoin (BTC/USD) daily chart (Coinbase)

After a brief dip below $68,000 in earlier in the day, Bitcoin is now racing to fresh record highs above the $70,000 mark. The cryptocurrency took a look at the key level on Friday and over the weekend but buyers held back. However, as we get into the new week, it looks like the bids are piling back in again now.

It has been a breathtaking run since the post-ETF fallout in late January for Bitcoin. The drop then was arrested by the 100-day moving average (red line) just below the $40,000 mark and it has since rallied by over 75%.



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11 03, 2024

Top 5 DeFi Coins That Can Spike 10x In 2024

By |2024-03-11T09:41:03+02:00March 11, 2024|Forex News|0 Comments


Top 5 DeFi Coins That Can Spike 10x In 2024

We will be diving into three DeFi coins which have massive growth potential not only during the upcoming months, but years as-well based on their recent on-chart performance, positive market sentiment and overall bullishness.

The crypto market recently reached a market cap of over $2.51 trillion, and a daily trading volume of $157 billion. These charts are indicative of a bull run, and a potential resurgence in DeFi. As a result, many analysts and traders are now speculating which altcoins could perform the most during the upcoming trading sessions.

As a result, for those looking to join the DeFi market before it explodes in value and experiences a rally, they will want to pay close attention towards Fantom (FTM), Theta Network (THETA) and KangaMoon (KANG) as they have high-growth potential, and today, we will go over how far they can spike.

KangaMoon (KANG) A Top DeFi Token

KangaMoon (KANG) is an upcoming project that can completely change the landscape through its innovative approach, where it implements community-driven decisions fueled with Social-Fi elements, and can become a primary competitor to well-established projects in the industry such as Dogecoin and Shiba Inu.

The KangaMoon platform was built on the Ethereum network and its token follows the ERC20 token standard. Yet what makes it genuinely unique is the fact that every user can get rewarded for their time spent on the platform. This is directly based on their overall activity. For example, they can share tweets, comments, or even do in-game actions. In addition, any user will be able to compete in weekly, monthly and quarterly challenges to get additional rewards.

Through KangaMoon, anyone can earn while they engage in the community, and enthusiasts will be able to interact with like-minded gamers. In addition, the smart contract was audited by SOLIDProof, and for community members who do not want to directly engage in battle, there is the possibility to spectate, place bets and earn that way.

$KANG has reached Stage 3 of its blockchain ICO, where the token is offered at a value of just $0.01125. While the cryptocurrency did increase by 125% and has already provided early investors with significant ROI, it also raised over $860,800 during the presale, and could soon break the $1,000,000 milestone. There’s even a 10% bonus on any purchases for the $KANG crypto made during this stage, and following its official launch, analysts are predicting a 100x price increase. These aspects make $KANG one of the top DeFi coins to get into in 2024.

Fantom (FTM) and Its Massive Growth Throughout 2024

Fantom (FTM) is a leading smart-contract supporting blockchain that was built to address issues surrounding decentralization, security and even scalability. It’s open-source and enables decentralized applications (dApps), alongside digital assets to be built on top of it.

Another stand out feature for the network is that it’s directed acyclic graph (DAG)-based, and that it features the Lachesis consensus mechanism. This enables the network to issue tokenized digital currencies that function similarly to any coins or tokens built on the blockchain.

The FTM token has seen a remarkable level of growth, as it’s up 127% during the past month. Moveor, its seen a 69% increase during the past week where it moved from $0.45 to $0.79. If it breaks past the $1 price barrier, it can reach new heights, and according to the Fantom price prediction, it can spike as much as $1.16 by the end of 2024.

Theta Network (THETA) Future Price Potential

Theta Network (THETA) is known for its usage of a decentralized P2P network that’s powered by blockchain technology as a means of providing high-quality video streams with a reduced buffering time. Moreover, it is leading the next generation of media, AI and entertainment.

Its Web3 infrastructure is built to allow any existing video or media platform to drive the incremental revenues and even reduce content  delivery costs. THETA can be staked by Validator or Guardian nodes, to produce blocks, and to participate in the protocol’s governance.

During the previous week, the THETA crypto blew up by 57% and moved up from $1.80 to $3.19. Moreover, its up 207.3% during the past month, and at this rate, could reach new heights. According to the Theta Network DeFi coin price prediction, its poised to spike as high as $4.62 by Q4, 2024.

Avalanche (AVAX) DeFi Coin Up Over 170%

Avalanche (AVAX) is a platform for launching DeFi applications that also offers enterprise blockchain deployments. It gained a significant reputation by introducing an interoperable and highly scalable ecosystem. Moreover, it features AVAX, a native cryptocurrency used for P2P value transfer, staking and securing its network, payment for operations, and the creation of new blockchains and subnetworks.

Moreover, Avalanche exploded in value in the past year by 170.5%. During the past month alone its up 30%, and during the past week, the Avalanche price moved from $37 to $44. At this rate, it can reach new heights, as according to the price prediction, it can end 2024 at $67.77.

Chainlink (LINK) DeFi Token Surges By 194%

Chainlink (LINK) is also moving upwards and has showcased bullish momentum. Specifically, the Chainlink platform provides tamper-proof inputs and outputs of data for smart contracts. Moreover, anyone can get on-chain and off-chain data by connecting the smart contracts to various data sources and third-party APIs.

During the past year, the Chainlink value increased by 194.2%. Moreover, the Chainlink price is also up from $18 to $21 during the previous week, and could soon reach new heights. According to the Chainlink price prediction, it can end in 2024 at $32.04.

Summary

It’s clear that each cryptocurrency brings something new and interesting to the Web3 space, and as a result of this, all of them have the potential to see significant growth during the upcoming trading sessions and in 2024 as a whole.

However, for those looking for the best DeFi coins to get into, Fantom (FTM), Theta Network (THETA) and KangaMoon (KANG) all represent massive opportunities.

While each project is unique in its own way, and has high growth opportunities based on the latest analyst projections, it’s clear based on the overall momentum, appeal, demand and value-growth, that KangaMoon has the highest likelihood to become a leading player in the space.

As one of the new DeFi projects, its introduction of the community-driven approach, Social-Fi elements, and massive ecosystem are all indicative of a potential blue-chip project, or hidden gem that should not be missed. With the massive 100x growth prediction as-well, now is the best point in time to jump into the KangaMoon project and get the most significant ROI, as it experiences explosive growth during 2024 and beyond.

Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!

Website: https://KangaMoon.com/

Join Our Telegram Community: https://t.me/KangaMoonofficial

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11 03, 2024

EUR/USD Long Term Forecast and Technical Analysis

By |2024-03-11T09:16:23+02:00March 11, 2024|Forex News|0 Comments


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11 03, 2024

Asia FX muted, dollar near 2-mth low with CPI inflation in focus By Investing.com

By |2024-03-11T08:25:56+02:00March 11, 2024|Forex News|0 Comments


© Reuters.

Investing.com– Most Asian currencies moved in a limited range on Monday, while the dollar languished near two-month lows as markets awaited key U.S. inflation data for more cues on when the Federal Reserve will cut interest rates. 

Regional currencies were sitting on some strength from last week after somewhat dovish signals from Fed Chair Jerome Powell and middling labor data reinforced bets that the central bank will begin trimming rates by as soon as June.

This trade weighed heavily on the dollar, pulling the greenback to near two-month lows, where it hovered on Monday. 

Japanese yen near 1-mth high as BOJ pivot bets grow 

The was among the biggest benefactors of a softer dollar, surging sharply in the past two sessions to an over one-month high.

The yen traded around 147 to the dollar on Monday, and was also supported by growing conviction that the Bank of Japan was close to ending its negative interest rates and yield curve control policies by as soon as next week.

An upward revision in data showed the Japanese economy dodging a technical recession in the fourth quarter. Strength in the economy gives the BOJ more headroom to tighten policy sooner.

The BOJ is set to , with a Reuters report stating that policymakers were considering a rate move either in March or late-April.

Other Asian currencies moved in a flat-to-low range. The fell 0.2%, as waning bets over more interest rate hikes by the Reserve Bank weighed on the currency.

Signs of cooling economic growth also spurred expectations that the RBA will cut interest rates this year. 

The and strengthened slightly, while the steadied near six-month highs, with key from the country also on tap later this week.

Dollar steadies, CPI data awaited for rate cut cues

The and steadied above the 102 level on Monday, after clocking steep losses last week.

The greenback was walloped by comments from Fed Chair Jerome Powell that the central bank was close to seeing enough evidence of easing inflation. Powell also clarified that he was not looking for inflation to reach 2%  to begin considering rate cuts.

Adding to this pressure, data on Friday showed grew more than expected in February. But January’s reading was revised substantially lower, while other readings showed rose, indicating some cooling in the labor space.

Powell’s comments put Tuesday’s squarely in focus, especially as several other Fed officials also signaled that any interest rate cuts by the Fed will depend largely on the path of inflation.



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11 03, 2024

DAX Index Today: China, the ECB, and US Consumer Inflation Expectations

By |2024-03-11T07:39:25+02:00March 11, 2024|Forex News|0 Comments


Porsche fell by 1.13%, with Volkswagen ending the session down 0.03%. BMW and Mercedes-Benz Group gained 0.17% and 0.21%, respectively.

However, Symrise AG extended gains on the positive outlook for 2024, rallying 1.63%.

The ECB and China in Focus

On Monday, vehicle sales figures from China could influence market risk sentiment. Weaker-than-expected numbers could impact hopes of recent policy measures improving the demand environment.

Economists forecast vehicle sales to increase by 41.0% year-on-year in February, down from 47.9% in January.

However, investors must also consider ECB commentary. ECB Executive Board member Piero Cipollone is on the calendar to speak on Monday. Views on inflation, the economy, and the timeline to cut interest rates could move the dial.

US Economic Calendar: Consumer Inflation Expectations

On Monday, US consumer inflation expectations warrant investor attention later in the session. Hotter-than-expected inflation expectations could test buyer demand for DAX-listed stocks. Investors may show greater sensitivity to the report with the US CPI Report out on Tuesday.

Economists forecast consumer inflation expectations to remain at 3.0% in February.

While inflation numbers are in focus, there are no FOMC member speeches to consider. The FOMC entered the blackout period on Saturday, March 9.

Short-term Forecast

Near-term trends for the DAX will likely hinge on euro area and US inflation figures. Softer-than-expected inflation figures could fuel bets on May ECB and Fed rate cuts.

On Monday, the DAX futures and the Nasdaq mini were down 62 and 93 points, respectively.

DAX Technical Indicators

Daily Chart

The DAX hovered well above the 50-day and 200-day EMAs, sending bullish price signals.

A DAX return to the Thursday all-time high of 17,879 would support a move to the 18,000 handle.

ECB chatter and economic data from China and the US need consideration.

A drop below the 17,750 handle would give the bears a run at the 17,600 handle.

The 14-day RSI at 77.00 shows the DAX in overbought territory. Selling pressure could intensify at the ATH of 17,879.



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11 03, 2024

Asia Market News: Nikkei Dives on Bank of Japan Pivot Bets; Hang Seng Bucks Trend

By |2024-03-11T06:53:47+02:00March 11, 2024|Forex News|0 Comments


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11 03, 2024

ForexLive Asia-Pacific FX news wrap: Weekend report the BoJ to abandon YCC next week

By |2024-03-11T06:07:19+02:00March 11, 2024|Forex News|0 Comments



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