Currency news

 Experts and analysts in the cryptocurrency market agreed that the sudden decline of currencies led by Bitcoin was expected after the recent record highs, coinciding with huge liquidations in the market. The cryptocurrency market lost nearly $170 billion in a few minutes during Wednesday's trading, which comes after a wave of tumultuous rises for bitcoin and altcoins. Huge Rush.. Positive News Bitcoin (BTC) fell sharply on October 27, dropping below $60,000 levels all the way to its lowest in two weeks. The move comes after multiple retests of $60,000, analysts said, with bitcoin now taking liquidity into a major support wall with $57,000 as its base. Analysts said they were already prepared for those pullbacks, with some data suggesting that a deeper drop to as low as $50,000 would still maintain the overall bullish trend. Urgent: Sudden Crypto Crash market now It seems that Bitcoin and alternative currencies are on the way to reduce their losses during those moments of trading to...

 After the largest cryptocurrency climbed to an all-time high, bitcoin prices hit a downward wave of correction. Analysts believe that it is still too early to talk about a bear market, as hopes that Bitcoin will break new peak levels are still present and strongly, amid expectations of reaching new peak levels that may reach 300 thousand dollars. Elon Musk is the world's first trillionaire Scenario 135 thousand dollars “He has been watching the $64,000 area as a critical level for a market breakout and market failure, so there is a corrective move,” Michael Van de Bobby, one of the most popular Bitcoin investors, puts it. Michael van de Poppe added: "Overall, $56,000-59K is a good location to buy bitcoin." Meanwhile, the “worst case scenario” for October predicted by Van de Poppe requires a monthly BTC/USD close of $63,000, for BTC to reach a high of $135,000. Another analyst who sees the outlook still bullish, sees popular Twitter analyst TechDev, that 2021 is still in ...

 On Friday morning, the People's Bank of China set the yuan's exchange rate against the US dollar at 6.4032 yuan per dollar. At the same time, expectations were for the Chinese yuan to stabilize against the dollar at 6.4030 yuan per dollar. It should be noted that the Bank of China influences the price of the US dollar USD by linking the value of its currency - the yuan - to the currency of the dollar USD, as the bank uses a fixed exchange rate policy, which differs from the free exchange rate used by the United States and many other countries, while leaving Margin of movement for the currency of China to move in a narrow range. The Bank of China manages the value of the yuan by keeping it fixed against a basket of currencies of countries that are China's partners. The basket is measured at USD, given that the United States is China's largest trading partner.

 The US dollar fell against its rivals on Friday and is heading for a second consecutive week of decline as news that debt-laden real estate firm China Evergrande (HK:3333) has avoided defaulting on risky assets, worries about a beleaguered real estate developer whose financial liabilities stand at 2% of its China's GDP is causing investors to flock to safe haven currencies such as the US dollar and government debt. Fears of economic contagion saw other sectors of indebted developers hit by a credit rating downgrade, but days before the deadline that would have plunged the beleaguered developer into a formal default and send shockwaves through global markets, the company had freed up funds to pay interest on Bonds in US dollars. In a statement, MUFG strategists said: "While this is good news in terms of avoiding an imminent official default over the weekend, uncertainty is set to remain elevated until there is more clarity on the position of Evergrande and that of other proper...

 US stocks closed higher on Wednesday, as reports of companies posting profits in the third quarter calmed investor fears despite supply chain problems and rising costs. The Standard & Poor's 500 index rose by 17.14 points, or 0.38 percent, to close at 4536.77 points. The Dow Jones Industrial Average closed up 157.95 points, or 0.45 percent, to 35,615.26 points. As for the Nasdaq Composite Index, it was outside the group of winners, as it fell 6.25 points, equivalent to 0.05 percent, to close trading, recording 15,121.68 points.