News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Breaking news

Federal Reserve Leaves Interest Rates Unchanged, Maintains Monthly Asset Purchases

Real Time News
  • RT @LeaderMcConnell: Based on a commitment from Leader Schumer to Senators Portman and Sinema that the Portman-Sinema amendment to be filed…
  • The price of oil defends the advance from the monthly low ($65.01) amid a larger-than-expected decline in US inventories. Get your #crudeoil market update from @DavidJSong here:https://t.co/Bwfi4Zybkv https://t.co/BPWtwLnBMU
  • RT @burgessev: Barring something really surprising, Senate will move forward on bipartisan infrastructure deal shortly. Capito says: "I pla…
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.65% 🇨🇭CHF: 0.49% 🇪🇺EUR: 0.22% 🇦🇺AUD: 0.18% 🇳🇿NZD: -0.00% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9L05PhfdwA
  • GBP/USD pushes higher as UK COVID cases fall, Fed remains highly accommodative $GBPUSD https://t.co/bPAGpMkhjN
  • GBP/USD has been lifted by signs that coronavirus cases in the UK are dropping and by suggestions that office attendance is rising.Get your $GBPUSD market update from @MartinSEssex here:https://t.co/RZxPm1XLto https://t.co/SIEjfEffBW
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.20% Gold: 0.49% Oil - US Crude: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HByKIG4bmC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.75%, while traders in France 40 are at opposite extremes with 69.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tC95moURI1
  • $USD now at two week lows, cutting into secondary support zone 92.19-92.26 $DXY https://t.co/n14cvwLofZ https://t.co/HaPRsGzyxJ
  • Infrastructure week, for real this time https://t.co/jh4BLwj0aC
Bitcoin Hits New Record High, Ethereum Jumps on Korean Interest

Bitcoin Hits New Record High, Ethereum Jumps on Korean Interest

Nick Cawley, Strategist

Talking Points

- After patiently building a base, BTC soars in early US turnover, making yet another record high.

- Ethereum enjoys another positive session after buying interest increases on Korean exchanges.

The DailyFX Bitcoin Glossary is designed to provide traders with a reference for important terms and concepts essential for understanding the emerging cryptocurrency universe.

Bitcoin (BTC) Makes Yet Another Record High Print

Another day, another record high as BTC trades in excess of $4600 on renewed buying interest. The token’s capitalization also rose to just under $76 billion, helping push the total crypto-currency market capitalization to just over $164 billion. With political tensions continuing to ramp up, after North Korea fired a test missile over Japan into the Pacific Ocean, the digital heavyweight is taking advantage of weakness in some of the other traditional fiat currencies.

A report by Vietnam news agency Vietnam+ also added to the ongoing interest in Bitcoin when it was reported that the countries Prime Minister Nguyen Xuan Phuc had approved a plan to scrutinize and streamline a legal network for crypto-currency management, opening the way for them to be legally recognized in the country in the future.

Chart: Bitcoin (BTC) Price Three Hour Timeframe (August 15 – August 29, 2017)

Bitcoin Hits New Record High, Ethereum Jumps on Korean Interest

Chart by IG

Ethereum Gains on Korean Buying Interest

Ethereum (ETH) is the latest crypto-currency to show strong gains on overnight buying interest out of Korea. The second-largest currency by market capitalization saw over $200 million turnover against the Korean won (KRW) over two exchanges, Bithumb and Coinone, while Chinese exchange OKCoin.cn handled nearly $85 million in ETH/CNY trade. Ripple (XRP) continued to give back some of its recent Asian gains, with traders transacting over $364 million of XRP/KRW orders over Bithumb and Coinone.

Chart: Ethereum Price Daily Timeframe (May – August 29, 2017)

Bitcoin Hits New Record High, Ethereum Jumps on Korean Interest

I will be discussing Bitcoin Trading and Strategy every Wednesday at 12:00 pm – if you would like to join me, please click here.

Market Moves/Top 8 Capitalizations – August 29, 2017

Bitcoin Hits New Record High, Ethereum Jumps on Korean Interest

If you are interested in trading digital pairs and would like to practice trading either BTC or ETH, you can create a Quick and Free Demo Account Here

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES