Morning Preview: Bitcoin is Now the Star! - Forex News by FX Leaders

Morning Preview: Bitcoin is Now the Star!

Posted Thursday, October 12, 2017 by
Rowan Crosby • 1 min read

Hey Fellas

Another interesting day on markets with stocks starting to look wobbly and the USD finding a bit of strength. I’ve been following the USD closely and it has really fallen away since the FOMC minutes a couple of days ago. As we come into the final trading day of the week, I feel that we’ve seen the low in the USD for the time being, so I’ll be looking to start getting bullish on the USD.

 

Bitcoin is Flying

The new start of the show is once again Bitcoin. Over the last month, it has been a wild ride for the cryptocurrency. When the Chinese started cracking down on digital currencies and ICOs, traders started getting nervous. Then JP Morgan boss, Jamie Dimon came out and had a swipe at them. That lead to some significant selling.

However, it appears that all is well and truly forgotten. Bitcoin is leading the charge of all digital currencies and is now trading above $5000.

I wouldn’t be looking to buy at the high, however, if we can get a pullback in the next couple of days I think it is looking like an opportunity to buy.

 

BTC

BTC/USD – 240 min Chart.
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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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