Forex. Cryptocurrency Forecast for today
Bitcoin formed a new support level of $ 58,200, after which it declined slightly in the American session. It is possible that profit-taking occurs after steady growth. Against the background of a strongly oversold fundamentally strong digital gold, a strong wave of growth may begin.
The capitalization of the cryptocurrency market by the end of Thursday amounted to 2.67 trillion US dollars against 2.61 on Wednesday. This market position indicates the build-up of long positions before a new growth.
November showed that the cryptocurrency market may be influenced by trends in the foreign exchange market. A noticeable strengthening of the US dollar forces investors to direct capital to safe haven assets. Recently, gold and cryptocurrencies have become unpopular, which creates preferential sales in these segments.
This time, the US dollar moved to a slight decline on Thursday, retreating from a high of more than a year paired with the euro and an almost five-year peak paired with the yen. The growth at the beginning of the session was caused by a hawkish mood in the leadership of the Federal Reserve System, supported by good US economic statistics. This created a contrast with the softer monetary forecasts in Europe and Japan.