And… the cryptocurrencies are back! Just as the US stocks erased almost all of Monday’s losses, the major cryptocurrencies including Bitcoin, Ethereum, Ripple, and Litecoin started a comeback after reaching their respective key support levels. This was after the US Senate cryptocurrency hearing struck a cautiously optimistic tone on Tuesday. The SEC Chairman Jay Clayton and the Commodity Futures Trading Commission Chairman Christopher Giancarlo took a "do no harm approach" to the cryptocurrency market, but will be monitoring activity in the ICO market closely. Bitcoin picked up around 8% while lesser known altcoins such as NEO and NEM rose over 21%. Almost all cryptocurrencies in top 100 are in the green territory at the time of filming. The market participants took cues of US regulators who appear to see the transformative potential within blockchain technology and cryptocurrency. On the less optimistic note, they also see a need for closer monitoring. This comes after major US credit card issuers announced they’ll be declining crypto purchases over the weekend, which added fuel to last week’s bearish market sentiment. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.

 

 


For more from Invest Diva, click here

HIGH RISK Investment Trading forex (also known as foreign exchange or currencies) on margin carries a HIGH LEVEL OF RISK, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, risk appetite, and the amount of your expendable income. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should ONLY invest money that you can afford to lose! You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Forex Diva Trading Opinions Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and education, and does not constitute advice. Forex Diva will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD remains depressed below 1.30 as UK jobs figures miss expectations

GBP/USD is trading below 1.30 after UK wages decelerated to 2.9% yearly in December, worse than expected. Brexit concerns are also weighing and coronavirus headlines are eyed.

GBP/USD News

EUR/USD hovers above multi-year lows amid coronavirus fears, ahead of ZEW

EUR/USD is trading just above 1.0820, the lowest since 2017, as the coronavirus outbreak is taking its economic toll on Apple among others. The German ZEW Economic Sentiment figure is eyed.

EUR/USD News

Forex Today: Coronavirus takes a bite from the apple, Gold gains, Bitcoin bounces

The coronavirus outbreak's economic impact is growing as Apple, the iPhone maker has issued a warning that it is unable to meet its guidance due to production and issues and closed stores in China. The tech giant's announcement has been weighing on the market mood, pushing gold and the yen higher. 

Read more

Gold: Positive beyond six-week-old falling trendline

Gold prices take the bids above $1585, +0.35%, during the pre-European trading on Tuesday. The yellow metal recently broke a downward sloping trend line stretched from January 08. Early-month top on the buyer’s radar.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors

Cryptocurrencies

Signatures