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Stan NorFX

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December 2020 Results: NordFX's Most Successful Trader's Profit Exceeds $100,000


NordFX brokerage company has summed up the performance of its clients' trade transactions in December, last month of the past year 2020.

The highest profit in December was received by a client from China, account number 1345xxx. His profit exceeded the milestone of 100,000 and amounted to 107.654 USD. This impressive result was obtained mainly in transactions with the EUR/USD, GBP/USD currency pairs and gold (XAU/USD).

In second place is a trader from India (account number 1518xxx), whose profit amounted to just under 40 thousand dollars (39.506 USD), and was obtained through trading in many pairs, primarily GBP/USD and GBP/JPY, as well as operations with altcoin No.1, Ethereum (ETH/USD).

The third place in the December TOP-3 belongs to another Chinese trader (account No.1465xxx), with a result of 38.409 USD, who also made transactions with the British pound and gold, GBP/USD and XAU/USD.

The passive investment services:
- in CopyTrading in December, the Mak jemah signal (increase of 111.06% with a fairly serious maximum drawdown of 37.12%) attracted attention, as well as KennyFXPRO (an increase of 27.61% with a moderate drawdown of 6.65%);
- in the PAMM service, the results are more modest. Here the leader was the manager with the nickname The Owl Midnight Scalper, who showed an increase of 18.43% over the month. However, the drawdown here was significantly lower, only 2,39%, which can be attractive for investors who prefer stable income with a moderate degree of risk.

Among the IB partners, NordFX TOP-3 is as follows:
- the largest amount of commission, USD 8.425, was accrued to a partner from Sri Lanka, account No.1483xxx;
- next is a partner from India, account number 1491xxx, who received 5.991 USD;
- and finally, the top three in December 2020 is closed by another Indian partner, account No.1328ххх, who received $5.704 as a reward.


Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.

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Stan NorFX

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Forex and Cryptocurrencies Forecast for January 11 - 15, 2021


First, a review of last week’s events:

- EUR/USD. The dollar has been falling, and the EUR/USD pair has been rising accordingly since the start of the COVID-19 pandemic last March. And now it is no longer far from its Q1 2018 highs. True, the result of the last three weeks can be considered zero. And the blame is not only the Christmas and New Year holidays, but also the growth in the yield of US Treasury bonds, coupled with the hawkish statements of the Fed representatives.
After the certification of President-elect Biden and the majority of Democrats in the Senate, the yield of 10-year-old American Treasuries skyrocketed, pulling the dollar with it. The President of the Federal Reserve Bank of Richmond, Thomas Barkin, said that the growth in Treasury yields confirms the desire of investors to see higher interest rates on USD, and the head of the Federal Reserve Bank of Philadelphia, Patrick Harker, predicted that the curtailment of the QE program could begin in the second half of 2021. All this sharply reduced the appetite of the bulls, who began to close long positions in EUR/USD, as a result of which the pair ended the week at 1.2225;

- GBP/USD. The storms associated with the signing of the Brexit agreement subsided, and, following the EUR/USD, the GBP/USD pair took a breather. Having reached a high of 1.3705 on January 04, by the end of the week it returned to where it had already visited in mid-late December, and finished at 1.3560;

- USD/JPY. Three weeks ago, we predicted the movement of the pair from the central line to the upper border of the medium-term channel, along which it has been sliding smoothly south from the end of March 2020. This is exactly what happened. Twice, on January 4 and 5, after bouncing off the central line, the pair went up sharply, approaching the upper border of the channel at 104.10 on January 8. A small pullback followed, and it froze at 103.95. Note that the 104.00 zone has been a strong support/resistance level for the last four months, from which the pair has repeatedly bounced off in one direction or another;

- Cryptocurrencies. it was 12 years ago, on January 3, 2009, that a person or group of people under the nickname Satoshi Nakamoto launched the main bitcoin network, mining a genesis block with 50 BTC. A few days later, on January 12, the first bitcoin transaction took place: Satoshi Nakamoto sent 10 BTC to Hal Finney. And more recently, in July 2020, information appeared on the Whale Alert Twitter account that before his mysterious disappearance more than ten years ago, Nakamoto managed to mine 1,125,150 BTC. Now, when bitcoin has reached the mark of $41,000, the value of these coins would exceed $45 billion, and Nakamoto would have taken the 25th place among the richest people on the planet.
Here, in fact, we have already announced the most important news of the past week: the quotes of the main cryptocurrency exceeded $41,000 on Friday, January 8. Thus, starting in December 2020, in just five weeks, each BTC coin grew 115% heavier.
Which pleases not only investors, but also miners. December turned out to be their most successful month in the last three years. According to the analytical service Block Research, in December the total revenue of miners reached $692 million, which is almost $1 million per hour.
At the moment, the cryptocurrency mining market is dominated by China, which, according to some estimates, accounts for more than 50% of the global hash rate. The head of Ripple even called Bitcoin and Ethereum cryptocurrencies controlled by China.
By the way, about Ripple. The last week and a half have given some hope to the owners of this altcoin. Recall that while the rest of the top coins were growing in price, the XRP/USD pair, starting from November 24, was steadily going down. Starting at $0.77, it fell to $0.17 by the end of 2020, shrinking 78%.
But this is not all either. The biggest disaster awaited Ripple in the futures market. On December 23, the price of the March futures for this token fell to $0.00023 on the BitMEX derivative platform. Investors sold 80 million coins in one minute - this is how the market reacted to the lawsuit of the US Securities and Exchange Commission (SEC), which accused this startup of illegally selling securities under the guise of XRP for $1.3 billion.
Now the situation has stabilized somewhat, and XRP/USD is quoted at $0.31 on January 8. And if a trader placed orders in advance to buy Ripple at the minimum price, then they made a profit of 1350% in just the last two weeks.
Returning to the main cryptocurrency, we note that its volatility, of course, is not as cosmic as that of Ripple, but it still remains more than impressive, reaching 10% per hour. The Crypto Fear & Greed Index is in a very overbought zone: at 95 out of 100. But, despite this, following the BTC/USD quotes, the total crypto market capitalization continues to grow steadily, having reached $1.1 trillion. At the same time, the bitcoin dominance index came close to 70%.


As for the forecast for the coming week, summarizing the views of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. We described in detail a week ago how analysts from the world's leading banks and financial agencies see the rate of this pair in 2021. The median forecast is 1.2500, which corresponds to the January-February highs of three years ago.
As for the near future, 60% of experts hope that this January will become, if not a month of trend reversal, then at least a sufficiently deep correction of the pair to the south, which will return it to the level of 1.2050, or even 1.1900. The nearest support is in the 1.2100 zone. However, as for the indicators, this development was supported by only 80% of indicators on H4. On D1, both oscillators and trend indicators have taken a neutral position.
40% of analysts side with the bulls, supported by graphical analysis on H4 and D1. According to them, the pair, having pushed back from 1.2200, should return to the uptrend, and we will soon see it at 1.2350. And then 1.2500 is not far off.
As for the events of the coming week, of interest are the data on the US consumer market, which will be published on Wednesday January 13 and Friday January 15. Fed Chairman Jerome Powell is also scheduled to make a speech at the end of the working week, and the market will wait whether he confirms the words of his colleagues Thomas Barkin and Patrick Harker regarding a possible increase in interest rates and curtailment of the quantitative easing (QE) program;

- GBP/USD. In general, the forecast for the next week or two here is very similar to the forecast for the euro/dollar. Technical indicators on D1 provide either neutral or multi-directional signals. 60% of experts, 70% of oscillators and 75% of trend indicators on H4 vote for the fall of the pair. 40% of analysts are for its growth, as well as the remaining indicators on H4 and graphical analysis on both timeframes. Support levels are 1.3525, 1.3485 and 1.3285. The next strong support is in the 1.3185 zone. Resistance levels are 1.3620 and 1.3725.
As for the events of the coming week, we should pay attention to the speech of the head of the Bank of England Andrew Bailey, which will take place on Monday, January 11;

- USD/JPY. How the yen will behave largely depends on both the risk sentiment of investors and the behavior of US Treasury securities. For now, most analysts (55%) are confident that the pair will stay within the downward medium-term channel and, having fought off its upper border around 104.00, will return to its central zone. This possibility is confirmed by 25% of oscillators giving signals on the pair being overbought on H4 and D1. The nearest support is 103.65, the next one is 103.00. The target is located in the 102.50 area.
35% of experts and graphical analysis on D1 vote for the fact that the pair will still be able to break through the upper border of the designated channel and rise to the zone 104.70-105.00. The next target of the bulls is 105.70; And finally, the remaining 10% of analysts are neutral, suggesting that the pair will fluctuate around Pivot Point 104.00;

- cryptocurrencies. Investors' optimism was added by the imminent coming to power in the United States of the Joe Biden administration. The founder of the Galaxy Digital crypto bank, Mike Novogratz, noted on CNBC that Trump's team was never able to stop the record growth of the main cryptocurrency, and expressed hope that financial regulators under the leadership of the new president would take a more loyal position. “I hope that after the inauguration [January 20, 2021] we will get more progressive regulators. I will be happy to wait for the new administration and get a regulatory framework that supports rather than fights cryptocurrencies,” said Novogratz.
As for the entry into the market of large institutional investors, in addition to regulatory restrictions, they are hampered by extremely high volatility of major cryptocurrencies. Thus, experts at the investment bank JPMorgan believe that the image of an alternative to gold will make bitcoin even more popular and predict its growth to $146,000. But this requires convergence of the volatility indicators of bitcoin and gold, and this is a "multi-year process."
Looking at what's been happening with bitcoin lately, JPMorgan's estimate may seem too conservative to many. According to investment analytics from Pantera Capital, the market is just weeks away from seeing Bitcoin price at $115,000. Speaking on CNBC, Dan Morehead, CEO of Pantera Capital investment company, called the limited supply of bitcoin as a key driver of growth in the value of this cryptocurrency. Currently, giants like PayPal and Grayscale are buying more BTC than bitcoin miners can mine, he explained.
At the moment, Bitcoin and Ethereum Grayscale trusts have accumulated digital assets of $14.075 billion and $1.808 billion, respectively. And, according to analyst Kevin Rooke, this giant continues to buy bitcoins, which suggests that Grayscale is set for long-term growth in the value of the largest digital currency.
Another popular analyst, Willie Woo, agrees with this. In his opinion, after bitcoin crossed the border of $24.000, it became clear that the market finally came under the control of long-term investors.
Binance, one of the largest crypto exchanges, also raised its forecast. “We thought the $50,000 price was reasonable, but that number will definitely be higher. I think that we will reach $75.000 - $100.000 for 1 BTC, by the end of 2021” says the CEO of its US unit Catherine Coley.
And finally, the most daring predictions for the BTC/USD pair, made by Insider co-founder Henry Blodget and the CEO of the Kraken bitcoin exchange Jesse Powell: both named $1 million per coin. However, the former believes that this will happen thanks to speculators, while the latter relies on the growth of institutional investments in cryptocurrency.
As for altcoin No.1, the capitalization of ethereum has exceeded $140 billion, which is many times more than that of such auto giants as, for example, General Motors ($59.5 billion), BMW ($47.1 billion) and Ferrari ($36.2 billion). Capital inflows into ETH will be even more significant in 2021, according to Messari analyst Ryan Watkins. Some investors are already concentrating exclusively on ethereum. And the key event for this altcoin will be the launch of ethereum futures on the Chicago Exchange (CME). In general, according to the estimates of the trader of the Amsterdam Stock Exchange, Michael van de Poppe, a strong rally in the altcoin market should start after the first quarter of this year.


NordFX Analytical Group


Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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Stan NorFX

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CryptoNews


- Mike McGlone, crypto analyst at Bloomberg, believes that bitcoin could hit the $50,000 mark in the near future. He gave a forecast a few months ago, according to which BTC was supposed to grow to a new historical high in December 2020, which eventually did happen.
“The main cryptocurrency already hit the $40,000 mark in early January but pulled back slightly due to a number of external factors,” Mike McGlone commented on his forecast. - There is an opinion that the general situation in the financial market affected the value of the main coin. The United States is currently not in the best position due to fluctuations in the dollar, which is why investors are switching to cryptocurrency from fiat. The capitalization of the main coin is tending to record values. I think the asset will take the 50k barrier soon.” Moreover, according to еру Bloomberg specialist, the chances for growth are much greater than for further weakening of the exchange rate. According to him, a rollback to $20,000 is now practically impossible.

- According to Bitcoin Treasures, large public companies acquired more than 1 million BTC (5.57% of the cryptocurrency market supply) last year, with a current value of about $40 billion. One of the most active institutional investors in 2020 is the world's largest crypto fund, Grayscale Investments, which manages about 600 thousand BTC, and the total value of its crypto assets is estimated at $24.5 billion (as of January 11, 2021).
Another major institutional investor is Nasdaq-listed mobile software company MicroStrategy. It has invested $1.12 billion in bitcoin over the past six months as a risk hedge and now it owns more than 70 thousand BTC.

- We wrote in the previous CryptoNews that it was 12 years ago, on January 12, 2009, that the creator of Bitcoin, known by the nickname Satoshi Nakamoto, sent the first transaction on the bitcoin network to the developer Hal Finney. Unlike Satoshi, much more is known about this recipient of the cryptocurrency.
Hal Finney partnered with PGP Corporation for many years, developing encryption products. Six months before his death in August 2014, Finney described his first experience with bitcoin:
“When Satoshi released the software, I immediately connected. I think I was the first person besides Satoshi to launch bitcoin. In total, I mined 70-odd blocks and became the recipient of the first bitcoin transaction. " At that time, Satoshi sent ten coins for the test. Over the next few days, Finney corresponded with the creator of bitcoin by email, helping to troubleshoot errors.
Describing his experience, the developer regretted his initially low interest in bitcoin. After helping with network testing and his first mining experience, Finney simply turned off the computer "because it was warming up and ha was annoyed by the fan noise."
The next time the developer returned to Bitcoin was in 2010, when Laszlo Heinitz bought two pizzas for 10,000 BTC and the cryptocurrency was first exchanged for dollars. 'I blew the dust off my old wallet and was relieved to find that my bitcoins were still in place. My children are technically savvy enough for me to leave cryptocurrency to them inherit,” the developer wrote.
According to Finney, the identity of Satoshi remained a mystery to him, although he assumed that he was dealing with "a young man of Japanese descent, very intelligent and sincere."

- Forbes magazine has compiled a list of people whose fortunes have grown significantly due to the rise in the price of cryptocurrencies. In first place are the founders of the bitcoin exchange Gemini, the Winklevoss brothers. The estimated value of their cryptocurrency assets, according to Forbes, is about $1.4 billion each.
Bloq co-founder Matthew Roszak with $1.2 billion in digital assets ranks second, followed by venture capitalist Tim Draper. According to Forbes, the value of his assets is estimated at $1.1 billion.
In fourth place is the head of MicroStrategy, Michael Sailor, with assets worth $600 million, in fifthis the founder of the crypto bank Galaxy Digital Mike Novogratz. Forbes valued his cryptocurrency assets at $478 million.
The last on the list is the co-founder of Ethereum Vitalik Buterin with assets worth $360 million.

- A discussion broke out online between billionaire Mark Cuban and the president of Euro Pacific Capital, Peter Schiff. The former expressed confidence in the ability of bitcoin and some altcoins to pass the “market bubble” similar to the way Amazon, eBay and Priceline experienced the dotcom boom.
Gold supporter Peter Schiff replied to this that “internet companies had real value, while no cryptocurrency has it.”
Cuban countered that the price of cryptocurrency, like gold, is determined only by supply and demand. “This is a means of saving value. There is no real use in bitcoin. All the talk of fiat and depreciation is advertising fiction. Bitcoin is not meant for transactions,” added the billionaire.

- Bitcoin trading on the PayPal platform is gaining popularity: trade volumes have increased by 950% since the beginning of January, that is, almost 10 times. According to the analytical service Nomics, platform users made transactions with BTC for just $22.8 million on January 01, 2021, and their volume amounted to $242 million on January 11, which indicates an increase in interest from retail investors.
While many praise PayPal for providing access to cryptocurrencies, others criticize the platform for not supporting cryptocurrency withdrawal functionality. That is, PayPal users who buy bitcoin on the platform can only sell it there.
As a reminder, the ability to trade cryptocurrencies on PayPal appeared in November 2020. While the function is only available to users from the United States, in the future the company plans to provide access to it to residents of other countries.

- Ethereum is poised for further growth, said Dan Tapiero, founder of the DTAP Capital investment fund. This is evidenced by the interest on the part of institutional clients of the American financial holding Northern Trust. In partnership with Standard Chartered bank, the holding company launches a service for storing cryptocurrencies. And "if Northern Trust stores bitcoin and ethereum, then they have buyers for both assets," Tapiero substantiated his point of view.

- Changpeng Zhao, CEO and founder of the largest crypto exchange by trading volume, Binance, said that at one time he had sold his apartment to buy the first bitcoins. “It was 2013. I sold my apartment to buy bitcoins. The price of BTC at that point was something around $200,” he recalls. “Now I do not use fiat money at all and do not transfer cryptocurrency to fiat. For me personally, fiat is no longer relevant. I pay for food, taxi, and in general I pay for everything exclusively with cryptocurrency, "added the head of Binance.

- Seventy-year-old investor Bill Miller expressed the opinion that the first cryptocurrency has far from exhausted its growth potential. Firms like Square and PayPal buy freshly mined bitcoins every day, he said. Demand from retail investors is also growing. At the same time, in contrast to demand, the supply of digital gold increases slowly. This situation creates the prerequisites for the increase in the price of bitcoin to new heights.
Miller added that while people speculate about where the price peak is, the Fed's zero interest rate policy puts cash in a "guaranteed losing position." This means that holding 1–2% of a portfolio in bitcoin is a good hedge against risk, even if the cryptocurrency eventually crashes. “I think that owning a small number of bitcoins is more of a risk management strategy than anything else,” the American investor emphasized.


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Stan NorFX

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NordFX Receives Three Prestigious Awards at the End of 2020


The winners of the awards of the International Academy of Trading Masterforex-V and the International Association of Forex Traders IAFT became known at the very beginning of the new year, 2021. Among the winners is the brokerage company NordFX, which has won three prestigious professional awards.


Founded in 2005, Masterforex-V International Academy is one of the leading and most ambitious online projects in the field of foreign exchange trading. Today traders from more than 50 countries of the world are trained at the Academy. The rectorate and the students of the Academy evaluate the performance of financial organizations throughout the year, forming ratings, at the top of which NordFX has repeatedly found itself. And now, at the end of 2020, the MasterForex-V Academy community has once again expressed its trust and recognition to the company, having honoured it with the title of "World Most Reliable Broker."

The company received two more awards based on the results of the annual voting on the IAFT Awards website. It is organized by the International Association of Forex Traders (IAFT), in which more than 200,000 traders from various countries take part. Each of them can vote on the award website, which makes it possible to assess the activities of a broker as objectively as possible.

For the third year in a row, NordFX won the Best Broker in Asia nomination by a wide margin, which is an unconditional recognition of the company's active work and success in this most important region of the planet.

And another award from the International Association of Forex Traders, the title of the Best Cryptocurrency Broker of 2020, was a testament to the high quality of services that the company provides for operations in the digital asset market.


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Stan NorFX

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Forex Forecast and Cryptocurrencies Forecast for January 18 - 22, 2021


First, a review of last week’s events:

- EUR/USD. Making a forecast for the past week, the majority of experts (60%) were in favor of reducing the pair first to support 1.2100, and then, possibly, another 50 points lower. Almost everything happened as forecasted: the EUR/USD pair was at the level of 1.2075 at the end of the trading week.
It should be noted that a somewhat atypical situation has developed on the market since the start of 2021. Usually, the rise in the stock market puts downward pressure on the dollar. This is exactly what happened in the previous month: fueled by risk appetites, the S&P500 grew steadily, while the dollar index, which plays the role of a defensive asset, was steadily falling. According to Bank of America Merrill Lynch, in December, large investors hoped for a quick victory over COVID-19, a surge in GDP, they were actively buyingt shares of technology companies and were also actively getting rid of the dollar. And now the situation has changed dramatically: the USD DXY index began to grow in parallel with the S&P500.
What is the reason for this? First, US stocks look overvalued at the moment. At least from the point of view of American investors. In addition, we wrote in the previous review that after the certification of the US President-elect Biden and the majority of Democrats in the Senate, the yield of 10-year American Treasuries went up sharply, pulling the dollar with it. The leaders of the Federal Reserve Banks (FRB) of Richmond and Philadelphia added fuel to the fire, hinting at a possible curtailment of the QE program and an increase in interest rates on the dollar; bulls began to close long positions in EUR/USD;

- GBP/USD. Over the past five days, this pair has drawn a clear sinusoid, moving in the 1.3450-1.3700 channel along the 1.3575 Pivot Point. At the beginning, it dropped to the lower border of this trading range, and then turned around and sharply went up, reaching the values of 2.5 years ago on Wednesday.
The pound was supported last week by the head of the Bank of England, Andrew Bailey, who not only rejected the possibility of introducing a negative interest rate, but also expressed the opinion that the coronavirus pandemic is not capable of causing any structural changes in the UK economy. As a result, the pound showed the biggest gains in the past two months. However, then, following the general trend of strengthening dollar, the pair returned to the Pivot Point and finished the week at 1.3580;

- USD/JPY. The forecast, which was voted for by the majority of analysts (55%), turned out to be absolutely correct: the pair kept within the descending medium-term channel and, having bounced off its upper border, moved to its center.
Recall that another 10% of analysts assumed that the pair would move sideways, making fluctuations around Pivot Point 104.00. And they also turned out to be right: having started the five-day week at 103.95, it completed it also within this zone, at 103.85;

- cryptocurrencies. By the evening of Friday January 15, the bitcoin chart can equally likely speak of both a return to an uptrend or a continuation of a downward correction. Reaching a historic high of $41.435 on January 08, the BTC/USD pair turned south and dropped to $30.600 by January 11. All major indicators have long been giving signals of bitcoin being overbought, and only an excuse was needed for such a deep correction. And it was found in the form of an increase in the yield on US government bonds, which caused the dollar to strengthen. As a result, the main cryptocurrency lost more than 25% in price in just three days.
Then, to the delight of investors, the pair again approached the $40,000 mark, and the USA again became the formal reason for this. More precisely, President-elect Joe Biden, who announced a new $1.9 trillion economic aid package that includes $2,000 in direct payments to Americans. Such massive fiscal and monetary stimulus is likely to drive inflation and, as a result, increase demand for risky assets, including cryptocurrencies.
All good things are known to end someday. So bitcoin stopped its growth on January 14, and failed to set a new height record. And then the head of the ECB Christine Lagarde called for global regulation of the digital currency market. Referring to the speculative nature of bitcoin, she stated that such regulation could be initiated within the G7 countries, then carried over to the G20, and eventually expanded to a global level.
Taking advantage of the situation, the bears regained control of the situation and the BTC/USD pair dropped below the $ 35,000 level again in the second half of Friday, January 15.
It should be noted that the activity of investors has significantly decreased at the start of 2021. According to CoinShares, only $29 million was invested in crypto funds in the first week of January. This is despite the fact that similar investments amounted to more than $ 1 billion the week before Christmas. Of course, such a lull can be explained by a respite for the holidays. Moreover, crypto whales also reacted sluggishly to the correction on January 8-11: withdrawal operations were recorded only on a very small number of their BTC wallets.
PayPal data show that at least the retail market is gradually waking up after the Christmas and New Year hibernation, the volume of bitcoin trading on this platform has increased by 950% since the beginning of January, that is, almost 10 times. If, according to the analytical service Nomics, platform users made transactions with BTC for only $22.8 million on January 01, 2021, their volume amounted to $242 million ten days later.
The total cryptocurrency market capitalization was $1 trillion by January 15 (it was $1.13 trillion at the high of January 10). The BTC dominance index is in the region of 68%, and the Crypto Fear & Greed Index fell from 95 to 88 points over the week.


As for the forecast for the coming week, summarizing the views of a number of experts, as well as forecasts made on the basis of a variety of methods of technical and graphical analysis, we can say the following:

- EUR/USD. Federal Reserve Chairman Jerome Powell denied the statements of his colleagues from the regional Federal Reserve Banks, saying that one should not count on raising interest rates and curtailing soft monetary policy in the near future. These words, coupled with Joe Biden's new $1.9 trillion fiscal stimulus package, are likely to halt the rise in US Treasury yields and support the bulls on S&P500. Moreover, the hopes for vaccination, which will lead to a rapid growth in GDP, have not disappeared. Thus, Wall Street Journal experts predict an increase in American GDP by 4.3% in 2021.
But will this break the current correlation between the dollar and the stock market? Will the dollar stop rising? It is not excluded that the growth of the S&P500 will be supported not only by American, but also by major investors from other countries. And such an infusion of foreign capital into the US economy will lead to the strengthening of the US currency.
Now, specifically about the EUR/USD pair. It is clear that at the time of writing the forecast (January 15), most indicators are painted red. 100% of trend indicators on H4, 75% on D1, as well as 75% of oscillators on both timeframes look to the south. The remaining oscillators signal that the pair is oversold.
As for the experts, their opinions are divided equally at the moment. But when moving from a weekly to a mid-term forecast, the scales are tilted towards the bulls. 65% of analysts, supported by graphical analysis on D1, expect the dollar to weaken and the pair to rise to at least 1.2500-1.2550 over the next one and a half to two months. The nearest resistances are 1.2175, 1.2275, 1.2300 and 1.2350. The main support area is 1.1800-1.1900.
As for the important events of the coming week, attention should be paid to the ECB's interest rate decision and the subsequent press conference of the management of this regulator on Thursday 21 January. And data on business activity of Germany and the Eurozone as a whole will be published the next day, on January 22;

- GBP/USD. Not only Germany and the EU, but also the UK will release statistics on business activity (Markit in the services sector) on Friday 22 January. This data could send a signal to investors about how the attack of a new coronavirus strain has affected the country's economy. Recall that earlier Britain reported record levels of deaths and new cases over the past few weeks in London and the south-east of England.
However, problems associated with COVID-19 are intensifying in other countries as well, including the United States. Therefore, 60% of analysts, supported by graphical analysis on H4 and D1, believe that the pair will be able to return to the level of 1.3700, and perhaps rise another 100 points higher. An additional argument for its growth is the new fiscal stimulus in the US, which has been discussed above.
Support levels 1.3540 and 1.3450;

- USD/JPY. The rise of the pair from the lower to the upper border of the descending medium-term channel, which took place in the first two weeks of January, is associated by a number of experts with an increase in risk sentiment and a decrease in interest in the yen as a safe-haven currency. Based on this, they believe that the pair will still be able to break through the upper border of the designated channel and rise to the 105.00 zone. 35% of analysts and graphical analysis on D1 vote for this scenario. The next target of the bulls is 105.70, the nearest resistance is the zone 104.00-104.35.
The majority of experts (65%) are confident that the pair will stay within the designated channel. The nearest support is 103.60, the next one is 103.00. The target is located in the 102.50 area.

- cryptocurrencies. So, the total cryptocurrency market capitalization is now at the level of $1 trillion. This is an important psychological level, especially for retail investors. Further growth of this indicator will be a clear confirmation of forecasts about the rise of the BTC/USD pair at least to a height of $50.000. If the capitalization goes down, then this can cause a landslide sale of coins: the example of the 2018 crypto winter is alive in the market memory.
In the meantime, the market is still dominated by an optimistic mood. So, for example, Bloomberg crypto analyst Mike McGlone believes that $50.000 is a real target for bitcoin. He gave a forecast a few months ago, according to which BTC was supposed to grow to a new historical high in December 2020, which eventually did happen. “I think that the asset will take the barrier of 50 thousand in the near future,” said this expert and added that the chances of BTC growth are much greater than its further weakening, and a pullback to $20,000 is now practically excluded.
Dan Morehead, CEO of investment company Pantera Capital, predicts that bitcoin's price will hit $115,000 by August 2021 and events such as the launch of the digital yuan will help further the penetration of cryptocurrencies into the global economy.
If this happens, there will be even more crypto millionaires and billionaires in the world. For now, according to Forbes, the list of the richest of them looks like this:
In first place are the founders of the bitcoin exchange Gemini, the Winklevoss brothers. The estimated value of their cryptocurrency assets, according to Forbes, is about $1.4 billion each. Bloq co-founder Matthew Roszak with $1.2 billion in digital assets ranks second, followed by venture capitalist Tim Draper. According to Forbes, the value of his assets is estimated at $1.1 billion.
In fourth place is the head of MicroStrategy, Michael Sailor, with assets worth $600 million, in fifthis the founder of the crypto bank Galaxy Digital Mike Novogratz. Forbes valued his cryptocurrency assets at $478 million. The last on the list is the co-founder of ethereum Vitalik Buterin with assets worth $360 million.
Speaking of ethereum. According to the founder of the investment fund DTAP Capital Dan Tapiero, this coin is ready for further growth. This is evidenced by the interest on the part of institutional clients of the American financial holding Northern Trust. The holding company launches a service for storing cryptocurrencies, in partnership with Standard Chartered bank. And "if Northern Trust stores bitcoin and ethereum, then they have buyers for both assets," Tapiero substantiated his point of view.


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Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is risky and can lead to a loss of money deposited.

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- Bitcoin has proven to be the most profitable asset in the past nine years due to constant fluctuations in value. According to experts, in this case it is not only about a direct increase in the price of cryptocurrency. Even when the coin sinks, it benefits traders who buy it at the price lowest for a certain period.
“Currently, the base coin is trading at $35,000. If everything develops in about the same direction, then in February it will be possible to see bitcoin for $45,000 or even more,” predicted the head of Pantera Capital investment company Dan Morehead, and at the same time he advised traders and other industry participants to be reasonable, since bitcoin has always been unstable. Even against the backdrop of the rally that began in December last year, the asset continues to remain risky, which is well understood by all experienced coin holders.

- JPMorgan Chase strategists, led by Nicholas Panigirtzoglou, believe that bitcoin could lose ground in the short term if it fails to break above $40,000. This month, the flagship cryptocurrency has twice broken through this key level, and then rolled back.
The key to the short-term outlook for bitcoin's price is the world's largest digital asset management company Grayscale Investments, with a crypto portfolio currently valued at $23 billion, analysts say. "For such a breakthrough to occur, the Grayscale Bitcoin Trust will likely need to maintain an inflow rate of $100 million per day over the coming days and weeks." However, if BTC still fails to hit the $40,000 mark, a deep correction can be expected.

- After a deal to sell cryptocurrency, a Hong Kong resident was robbed of $448,700. This is reported by news agency South China Morning Post. The buyer of the digital currency invited the trader to the office of ashopping center to carry out the transaction. She transferred USDT tokens and received HK $3.5 million in cash. After the transaction, three men ran out of a nearby room and, threatening with a knife, took away the victim's money and the smartphone. The woman was locked up, and all four "buyers" fled.
Interestingly, the victim had already conducted several successful transactions with this buyer. According to police, in this way the criminals won the trust of the victim.

- Billionaire Howard Marks, co-founder of Oaktree Capital Group, has significantly changed his attitude towards bitcoin. Earlier, Marks stated that investing in cryptocurrency is a very dangerous operation that can cause huge losses for large investors. In 2017, during the bitcoin rally, he advised to refrain from buying coins. In addition, he called cryptocurrencies "fake" and said they had no real value.
And now the billionaire says that his "skeptical views on cryptocurrency assets have not been confirmed." “Let's hope,” Marx wrote, “that events will continue to develop as actively as they are now. The cryptocurrency market is gradually emerging from the shadow sector, as evidenced by a large number of major investors. I think it still has real value. My family owns an impressive number of bitcoins, which I support at this stage.”

- According to the online edition Forklog, a "biblical message" was found in the bitcoin block No.666666. “Do not be overcome by evil, but overcome evil with good,” says the Epistle to the Romans of the Apostle Paul, chapter 12, verse 21. An unknown person added this quote from the sixth book of the New Testament to block # 666666 of the bitcoin network and sent two equal amounts in the first cryptocurrency to two addresses, the first characters of which contain the words "God" and "Bible" in English.

- The former CEO of the now defunct South Korean cryptocurrency exchange Coinnest was sentenced to 18 months in prison. It is reported by Bitcoin.com with reference to local media.
According to the case file, ex-director Kim Ik Hwang received a bribe of 110 BTC ($770 thousand at that time) in February 2018 for listing the S-coin, which was issued by K Group. Subsequently, 2 million S-coins with a total value of $125,500 were also credited to his account.
Although the defendant pleaded not guilty, the Supreme Court sentenced Kim to one and a half years in prison for commercial bribery and fined him over $61,000. “Hwang manipulated market prices and gained unreasonable profit for it. Such actions undermine confidence in the crypto industry, which means they are unacceptable," the prosecutor said.

- 2020 has turned out much better for long-term investors than the previous year. The market capitalization of 30 key assets of the cryptocurrency market grew by 308% (versus 62% in 2019), according to a report from CoinGecko. Among the five largest coins, bitcoin has shown the best results, having risen in price by about four times (in 2019 - by 95%). Ethereum looked even better, its price rose by 472% after near-zero dynamics over the previous 365 days. Portfolios with DeFi protocol tokens gained 718% on average.

- Scott Meinerd, investment director at Guggenheim Partners, compared the current situation with what happened to the economy after the Spanish flu epidemic in 1918. At the same time, he confirmed his forecast for the bitcoin rate at $400,000 but warned of a possible correction.
According to the specialist, the latest rise in the BTC rate could have been caused by retail investors. “I think it's about them. There is some speculative frenzy in the market. It may be worth withdrawing some of the funds from cryptocurrencies,” Minerd said.

- A startup in the field of cybersecurity Red Balloon Security from New York (USA) as a test task sends applicants to vacant places a hard drive with locked bitcoins worth about $5 thousand and several boxes of chocolates.
In a week, the applicant needs to get access to the cryptocurrency wallet. If successful, part of the funds must be spent on buying a ticket to New York in order to meet with a representative of Red Balloon Security. Anyway, one can keep the chocolates.
The company sends such packages to almost everyone, but at the same time it regularly changes the content of the test so that applicants cannot share their results on the Internet. Statistics show that for 150-200 people there is only one applicant who has successfully completed the task.

- One of the world's largest investment banks, Goldman Sachs, is exploring the possibility of launching a custodian service for digital assets. This is reported by CoinDesk with reference to its own source within the bank. “Like JPMorgan,” the source said, “we have released an RFI for digital storage. We are studying the issue extensively and deciding what to do next. " Regarding the timing of the launch of services related to cryptocurrencies, the source replied that the bank's plans "will become apparent in the near future."


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