May 12, 2021 Forex News
The surge in the value of Ethereum and other altcoins has led to a sharp drop in the Bitcoin Dominance Index (BTC).
It now stands at 42.2%, the lowest since mid-July 2018. This is evidenced by the latest data from CoinMarketCap.
The decline in the dominance of Bitcoin was a direct result of the so-called "altseason", which has already led many cryptocurrencies to renew their highs. At the same time, Bitcoin is showing a correction. In the middle of this week, the BTC rate is kept around $55000.
Observers believe that as soon as the price of Bitcoin resumes its growth, and such signals have already appeared, then the dominance of BTC will begin to grow again in the market.
The chances for growth are still there, according to analysts at Glassnode. Their report says that institutional demand for Bitcoin is on the rise. Miners switched to accumulation, which creates conditions for the formation of a shortage of coins and will push the price up.
According to the forecasts of the IntoTheBlock team, investors who bought BTC at higher values are trying to return the cryptocurrency to such levels that will be optimal for them. The researchers highlighted that between $56100 and $58900, traders previously purchased over 1.568 million coins.
Despite 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