oday is the day. US President Donald Trump is expected to sign into law the tax reduction bill that Republicans have been ogling this entire year.
The President is pitching this as the best Christmas present he can give the American people. It’s the gift that keeps on giving. Certainly to some more than others. Certainly to Trump himself more than most. But hey, it’s the holiday season. So let’s not even think about who is going to pay for this expensive gift at the moment.
That’s Future America’s problem.
@MatiGreenspan
eToro, Senior Market Analyst
Today’s Highlights
US Growth
Digging up Old Porn
More Choppy Crypto
Please note: All data, figures & graphs are valid as of December 21st. All trading carries risk. Only risk capital you can afford to lose.
Traditional Markets
Today we have some numbers coming out that could make a splash. The US GDP growth figure is usually watched very closely by investors and traders and seemingly due to Donald Trump’s pro-growth America first policy, economic expansion in the United States has been accelerating.
In this graph, we can see that analysts forecasts of these figures (little brown bars) are usually quite accurate if not conservative. For today they’re expecting to see 3.3%.
Traders will be watching closely when the numbers come out one hour before the bell rings. If we see any surprise in the data the effects will be instantly felt in the US Dollar.
Here we can see the run up in the Buck since Trump’s election and subsequent collapse.
The price is now testing that blue downward resistance line. If we fail to break above it again, we could soon be testing the year’s lows of 91 points
Fishy Porn?
Is it just me or is this passage arouse suspicion?…
I mean, how does porn found on someone’s computer in 2008 get them fired today. My question is who found this dirt on Mr. Green and why did they wait until now to use it?
If I had some more time I’d probably do some serious investigation into this but as mentioned in previous updates, we’re working hard at the moment to keep up with the many new clients joining us at this time. Mostly thanks to the awesome surge in cryptos this year.
Cryptos
The crypto market has been pretty choppy so far this week. Its been three days now since we’ve seen a new all time high in Bitcoin and many of the altcoins have been surging in response, some more than others.
Making waves today is Ripple, which has surged an additional 26% and is now testing the psychological resistance at $1. Not bad for a token that was trading at fractions of a penny in March.
Some controversy over at Coinbase seems to have halted the rush on Bitcash but Dash is rising sharply this morning.
Meanwhile, the crypto copyfund that we’ve built here in eToro is working extremely well. Check out the blue line, which is up 161%.
Since the beginning of the month, it has actually outperformed five of its seven components with the surges in Litecoin and Ripple bringing up the average.
As any investor will tell you, by diversifying your risk into multiple assets you don’t usually outperform the best components but you will always reduce your risk by spreading your eggs around.
Let’s have an awesome day!
This content is provided for information and educational purposes only and should not be considered to be investment advice or recommendation.
The outlook presented is a personal opinion of the analyst and does not represent an official position of eToro.
Past performance is not an indication of future results. All trading involves risk; only risk capital you are prepared to lose.
Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.
The post South Korea and Its Step Towards Regulating Cryptocurrency appeared first on Crypto Currency Online.
source https://cryptocurrencyonline.co/south-korea-and-its-step-towards-regulating-cryptocurrency/
No comments:
Post a Comment