Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Bitcoin: Another Correction or Great Pump?
Information is not investment advice
The US Securities and Exchange Commission (SEC) has approved an exchange-traded fund called the Volt Bitcoin Revolution ETF. The fund, run by San Francisco-based Volt Equity, will provide retail investors with access to stocks of companies that hold a significant portion of the cryptocurrency on their balance sheets.
In its initial filing in June, Volt indicated that 25% of the ETF's assets would be in MicroStrategy (the largest publicly traded bitcoin holder). In an interview with Decrypt, Votl founder Ted Park said the percentage will be lower if the fund will be listed on the New York Stock Exchange in the coming weeks.
At the same time, the US Securities and Exchange Commission continues to delay decisions on other Bitcoin ETFs. The regulator fears the manipulation of the cryptocurrency market.
Bitcoin Daily chart
On the daily chart, Bitcoin price broke through the upper border of the flag pattern. It’s a bullish signal for the whole cryptocurrencies market. We expect Bitcoin’s big rally in the Q4 of 2021.
Also, on the daily chart, we can notice that the price has met significant resistance and it got rejection out of it already two times. That’s why we expect a correction before the next pump down to $52 500 $50 500 support levels, which could be a perfect long trade entry points.
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.