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.

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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • ECB's Villeroy says we monitor carefully the implications of the exchange rate on the inflation outlook $EUR
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.63% 🇦🇺AUD: 0.49% 🇬🇧GBP: 0.42% 🇪🇺EUR: 0.29% 🇨🇭CHF: 0.15% 🇯🇵JPY: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SuCtbOvRLU
  • Poll: Which of these extraordinarily volatile and recently popular assets is most disconnected from 'traditional fundamentals' and fully in the hands of the speculative tribe?
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.01% France 40: 1.51% FTSE 100: 0.51% Wall Street: 0.15% US 500: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6OgqApsW9T
  • The Conference Board's Consumer Confidence survey edged up with this morning's January reading, but that marginal uptick can't touch the impressive charge of speculative conviction via the likes of the $SPX https://t.co/zztL1tzlfE
  • $AUDUSD has strengthened by around 50 pips this morning, climbing from a morning low below 0.7700 to currently trade around 0.7750, its highest level since last week. $AUD $USD https://t.co/UDJ8i9mifv
  • Italian PM Conte has informed his cabinet that he will resign, which has come ahead of the Senate vote on the justice minister’s annual report, where there had been a risk of a government defeat. Get your market update from @JMcQueenFX here:https://t.co/U3ZTcYF3BH https://t.co/GIZLlT2a5I
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 0.79% Gold: -0.04% Oil - US Crude: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/2iQkw0sGZf
  • 🇺🇸 CB Consumer Confidence (JAN) Actual: 89.3 Expected: 89 Previous: 87.1 https://www.dailyfx.com/economic-calendar#2021-01-26
  • $GBPJPY has risen back above 142.00 this morning, currently trading around the monthly highs. $GBP $JPY https://t.co/nzluFFUCwe
BTC Price Outlook: Bitcoin Halving Prompts Crypto Volatility

BTC Price Outlook: Bitcoin Halving Prompts Crypto Volatility

Rich Dvorak, Analyst

BITCOIN OUTLOOK – BTC PRICE VOLATILITY ELEVATED AMID BITCOIN HALVING

  • BTC price action swings wildly around the highly anticipated Bitcoin halving event
  • Halving could boost Bitcoin prices considering the cryptocurrency’s fixed supply
  • Bitcoin volatility could remain elevated as traders react to the monumental change

The halving of Bitcoin just happened for the third time since the cryptocurrency was first launched in 2009. Bitcoin halving, an expected event that occurs every four years, is an inherent characteristic of Bitcoin and blockchain mechanics.

Learn More – What is Bitcoin? Understanding Bitcoin Basics

Simply stated, Bitcoin halving is a pre-planned adjustment to the amount of compensation awarded for mining Bitcoin. This helps maintain the fixed Bitcoin supply of about 21 million BTC.

BTC PRICE CHART – BITCOIN HALVING MAY 2020

BTC Price Chart Bitcoin Halving

Chart created by @RichDvorakFX with TradingView

BTC price volatility accelerated into the May 2020 Bitcoin halving event. This is reflected by the rising average true range, or ATR, on an hourly Bitcoin chart. Bitcoin has plunged by more than 10% from its month-to-date high near the $10,000 price level as key market players, like crypto traders and Bitcoin miners, adjust to the latest halving development.

Bitcoin BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 1% -15% -2%
Weekly -1% -18% -4%
What does it mean for price action?
Get My Guide

Bitcoin prices nevertheless trade about 20% higher on balance so far this year. BTC price action, along with gold, gained ground over recent months largely on the back of demand for anti-fiat assets, which follows unprecedented central bank balance sheet growth.

Top Trading Opportunities in 2021
Top Trading Opportunities in 2021
Recommended by Rich Dvorak
Get Your Free Top Trading Opportunities Forecast
Get My Guide

Considering the fixed supply of Bitcoin and gold, this trend has potential to continue as long as liquidity gushes from central bank money printing. Also, news that billionaire hedge fund manager and investor Paul Tudor Jones recently joined the crypto craze is likely a welcomed development for the bull case.

Learn More – A Guide to Day Trading Bitcoin & Other Cryptocurrencies

-- Written by Rich Dvorak, Junior Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

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

DISCLOSURES