Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name. Satoshi Nakamoto created this cryptocurrency back in 2009. The biggest advantage of Bitcoin is that it’s not under control of central authority, government or private company, so people are free from paying transaction fees. It can be used for booking a hotel or flight, or purchasing products online, as many online stores and companies accept Bitcoin now.
Today, there are 1354 Bitcoin ATMs in 55 countries around the world and about 5.8 million users that have digital wallets. The price for one Bitcoin at the moment is $5,602 and it’s growing continuously, proportionally with the interest for digital money.
Take a look at this infographic that illustrates in details some interesting facts about this incredibly popular virtual currency.
Editors’ Picks
EUR/USD: Bulls pray for a dovish Fed
EUR/USD has finally taken a breather after a pretty energetic climb. The pair broke above 1.1680 in the second half of the week, reaching its highest levels in around two months before running into some selling pressure. Even so, it has gained almost two cents from the late-November dip just below 1.1500 the figure.
GBP/USD consolidates around 1.3330 as traders await Fed rate decision
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow trading band, around the 1.3320-1.3325 region, during the Asian session. Spot prices, however, remain close to the highest level since October 22, touched last Thursday, with bulls awaiting a sustained strength and acceptance above the 100-day Simple Moving Average before placing fresh bets.
USD/JPY loses momentum below 155.50 as Fed rate cut looms, Japan-China military tensions flare
The USD/JPY pair loses ground to near 155.25 during the early Asian session on Monday. The US Dollar weakens against the Japanese Yen as traders brace for the Federal Reserve meeting this week, where policymakers are widely expected to cut interest rates.
Editors’ Picks
AUD/USD bulls pause for a breather ahead of the RBA/Fed decisions this week
AUD/USD is seen consolidating its recent strong gains to the highest level since September 18, reached on Friday, as traders move to the sidelines ahead of this week's key central bank event risks. The RBA is scheduled to announce its rate decision on Tuesday, followed by the outcome of the two-day FOMC meeting on Wednesday. In the meantime, the RBA's hawkish tilt acts as a tailwind for the Aussie, while rising bets on a Fed rate cut undermine the US Dollar and support the currency pair.
USD/JPY loses momentum below 155.50 as Fed rate cut looms, Japan-China military tensions flare
The USD/JPY pair loses ground to near 155.25 during the early Asian session on Monday. The US Dollar weakens against the Japanese Yen as traders brace for the Federal Reserve meeting this week, where policymakers are widely expected to cut interest rates.
Gold drifts higher above $4,200 on Fed rate cut expectations
Gold price trades in positive territory near $4,205 during the early Asian session on Monday. The precious metal edges higher as markets widely expect the Federal Reserve to cut interest rates at its December meeting on Wednesday.
Week ahead: Rate cut or market shock? The Fed decides
Fed rate cut widely expected; dot plot and overall meeting rhetoric also matter. Risk appetite is supported by Fed rate cut expectations; cryptos show signs of life. RBA, BoC and SNB also meet; chances of surprises are relatively low. Dollar weakness could linger; both the aussie and the yen best positioned to gain further. Gold and oil eye Ukraine-Russia developments; a peace deal remains elusive.
The Silver disconnection is real
Silver just hit a new all-time high. Neither did gold, nor mining stocks. They all reversed on an intraday basis, but silver’s move to new highs makes it still bullish overall, while the almost complete reversals in gold and miners make the latter technically bearish.
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