Market Brief May 11th: Fundstrat research predicts Bitcoin could reach $64,000


There is major upside potential for the cryptocurrency according to investment research firm Fundstrat. Predictions for price growing four times to reach $64,000 is seen to possibly take place by the end of next year. Instrumental to that return is bitcoin mining. Last year, the influx of investor interest pushed Bitcoin from less than $1,000 to trade above $19,300.


CAD, 13:30 p.m. GMT +1, Employment Change (Apr) – a key indicator of consumer spending which measures the change in the number of individuals employed in the economy. Market analyst projections are pointing to lower levels of employment at 17.4K for the month of April compared to 32.3K- this is a whopping difference of 14,0 thousand people. If the actual news comes in with a higher than projected reading, this should be seen as a bullish sign for the Canadian dollar. A strikingly lower number would suggest higher levels of unemployment and consequently decreased levels of consumer spending that would affect the currency negatively.

European Union

EUR, ECB President Draghi Speaks – the head of the Central Bank has the power and influence to set interest rates for the European Union based on the metrics for the economy. Comments and speeches are closely followed as they can impact both the valuation of the currency and sometimes even the direction.




Wishing you Happy and Successful Trading!


Risk Warning: The information above constitutes Marketing Communication and does not constitute Investment Advice or Investment Research. The content of the analysis represents the view of our experts on a generic basis, and do not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the analysis above has not been prepared in accordance with legal requirements designed to promote the independence of Investment Research. Readers using the above information should consider the possibility of encountering substantial losses. Therefore, UR Trade Fix Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the above analysis.”  Further to the above ,Forex Trading involves a substantial Risk of Loss and may not be suitable for all Investors. Please see our Website for details regarding UR Trade Fix Limited’s Trading Terms, Policies and Offerings.Read more.



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