Forex And Cryptocurrency Forecast For February 17 - 21, 2020

Anthony Pompliano, partner of Morgan Creek Digital investment company, predicts further growth of the main cryptocurrency as well. He is confident that the explosive growth of the Bitcoin exchange rate will occur due to the growing demand for the asset and its limited issue, resulting in it reaching $100,000 by the end of 2021.

In general, 60% of analysts expect that the BTC/USD pair will break the $11,000 mark in February-March. However, while last week it was only 20% of experts who exclaimed: "Beware of a trend reversal", now their number has doubled, reaching 40%. Some crypto traders believe that the growth in the value of Bitcoin and other cryptocurrencies, which began in January, is caused by "ghost money". As they say, on certain trading platforms, large orders appear periodically, which are not intended to buy or sell cryptocurrency, but to create the illusion of a demand for the asset. Someone provokes investors to purchase the coin with their help, thereby inflating its price. "You can only push the price so high with the help of "ghost money". At some point, people will want to cash out their crazy earnings, but will not be able to find someone to sell the asset to. This is going to be a show!"- one of the crypto sceptics wrote on Twitter.

And in this situation, the brokerage company NordFX offers probably the best option for trading cryptocurrencies – a kind of contract for the difference in price, without the actual delivery of coins. In this case, when opening long or short positions, you can be sure that even if the price of Bitcoin soars to the skies or, conversely, collapses to zero, you will get your due profit.

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Notice: These materials should not be deemed a recommendation for investment or guidance for working on financial markets: they are for informative purposes only. Trading on financial markets is ...

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