MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Helpless bulls and the ban of the British bank HSBC to its customers to buy shares of MicroStrategy

analytics6072cc64e5465.jpg

Yesterday, the bitcoin exchange rate rose to the level of $ 61,182 per coin. That is, it came close to its local and absolute maximum of $ 61,700. However, in the second half of the day, buyers again retreated from the market, thus, it was not possible to update the maximum value, as well as to gain a foothold above the psychological level of $ 60,000. Today, the quotes of the "cue ball" are growing again, but again, it is still unknown how the day will end. Perhaps, in the second half of the day, there will be a pullback down again. On the one hand, in our experience, when the quotes are long and tedious "trample" around one level, they eventually overcome it. Strong corrections or trend completions usually occur abruptly: reaching a certain level and a sharp reversal. However, this is bitcoin, where everything depends on the mood of investors, who bought the cryptocurrency to make money on it, that is, to sell it profitably sooner or later. Thus, if tomorrow the majority of participants in the cryptocurrency market decide that "it's time", then bitcoin can collapse at least by 90%. Of course, in 2021, it will be much more difficult to do this, since now a large number of institutional or simply large private investors have invested in bitcoin. Such people and companies can keep coins on their balance sheets for years. Therefore, we recommend starting from the support levels that are plotted in the illustration below.

Meanwhile, the largest bank in the UK, HSBC, according to non-official information, prohibits its customers from buying shares in MicroStrategy. Recall that the company MicroStrategy, which is engaged in the development of analytical software, invested more than a billion dollars of free funds in bitcoin, buying more than 90,000 coins. Now the value of this number of coins is estimated at $ 5.5 billion. One of the bank's clients shared the relevant information. The letter, which they received at the end of March, says that the bank is changing its policy on cryptocurrencies and digital assets, as well as on companies that are closely associated with cryptocurrencies. It was also previously reported that HSBC also blocks transfers of customers who are associated with cryptocurrency exchanges. Thus, this is the first case in the world practice when a large bank tries not to popularize the cryptocurrency sector, providing its customers with more opportunities, but rather restricts access to digital products and shares of companies closely associated with them. However, from our point of view, there is nothing extremely surprising about this. Many experts now believe that if bitcoin collapses, then not only the cryptocurrency market will collapse, but also all other financial markets. Over the past year, bitcoin has integrated too deeply into the existing financial system, so its fall will affect the stock market, the debt market, and many other areas. Thus, some large banks may thus try to insure themselves against possible losses in the event of a bitcoin crash. Recall that earlier the quotes of the "cue ball" have twice lost up to 90% of the value after the upward trend.

analytics6072cc72a64e0.jpg

Technically, nothing changes. At the moment, the quotes of the "cue ball" are near the level of $ 60,000, however, it will be possible to talk about fully overcoming it only tomorrow. All three levels of support (the red lines in the illustration) have not been overcome, so from a purely technical point of view, an upward movement is now most likely. Now, if the market participants manage to overcome $ 61,700, then the next target will be the resistance level of $ 65,408.

The material has been provided by InstaForex Company - www.instaforex.com