Morning Preview: Bitcoin is Now the Star!
Rowan Crosby • 1 min read
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.