News
Bitcoin is growing thanks to information stuffing
Feb 17, 2021 Forex News
After the price of Bitcoin has reached a new all-time high, analysts expect a correction. At the same time, forecasts regarding the correction of the Bitcoin price differ. At the time of publication, the BTC/USD pair is trading at $50962.
Analysts suggest that Bitcoin's current skyrocketing price does not guarantee further growth in the long term. Analysts believe that on the chart, the BTC/USD pair should rise above the trendline to confirm its rise. The BTC/USD pair should test the trendline to confirm that it has moved in to support before moving higher. Until then, you should not expand your target values for a long position.
According to the RSI index, the BTC price has long entered the overbought zone on the daily chart. This indicates an imminent downward correction in the coming sessions.
Some analysts are skeptical about the skyrocketing price of Bitcoin in recent days. They explain it by the hype that was created around Bitcoin. Informational stuffing provoked a surge of interest in bitcoin. And we seeing aggressive BTC pumping.
Analysts believe that now the price of Bitcoin is more dependent on all sorts of information injections and messages than on fundamental data.
A similar situation was observed in 2020. Than Bitcoin, after rapid growth, showed an equally rapid decline. This time the scenario may repeat itself, and the price may drop to the $30000 area, from where the price began to rise due to the information background.
to other news
All newsDespite the short-term effect of rumors that Amazon was going to accept Bitcoin this year and the subsequent pullback, the BTC/USD pair was able to find support in the area of $36500 and start a new rally. As a result, today the BTC/USD pair was able to rise
Mar 2, 2023 Forex Forecast
Dear clients, Please note that due to Independence Day celebrated in the USA on 4 July 2022 you may experience the following changes: Monday, July 4rdMetal CFDs: trading closes at 21:30. Indices CFDs: Europe 50 (#ESX50): trading closes at 23:00; France 40 (#FCHI): trading closes at 23:00;
Jul 1, 2022 Company News
On March 13th, 2022 TenkoFX will switch its trading servers 1 hour ahead, from GMT +2 to GMT +3. The change will affect all types of TenkoFX trading accounts. In ECN, STP accounts summer time will take effect starting with the market opening on Monday, March 14th, 2022. In Crypto
Mar 10, 2022 Company News
Dear Clients, Please note that due to President’s Day in the US on February 21, 2021, trading hours for some financial instruments will be changed as follows: Spot commodities CFD:Gold (XAUUSD) - trading ends at 21:30;Silver (XAGUSD) - trading ends at 21:30;US Crude (XTIUSD)
Feb 14, 2022 Company News