Cryptocurrency News Official TheBitTimes.com

The US dollar strengthened following the FOMC September meeting The Fed sees the funds rate higher for longer Ethereum should hold above $1,400 for the bullish bias to persist This year had two distinct parts for financial market participants – one characterized by the dollar ’s weakness and one dominated by the dollar ’s strength .  The US dollar runs the show both in the traditional and cryptocurrency markets. EUR/USD is the best example of the correlation between the two markets.  It opened the year at 1.06, rallied to 1.12, where it peaked during the summer, and then gave up its gains. The same dollar cycle may be seen in many cryptocurrencies.  For example, Ethereum rallied from the start of the trading year, peaked at $2,000, where it met resistance, and then corrected. Therefore, cryptocurrency traders may want to focus on the dollar’s direction in order to position on the right side of the cryptocurrency mark...

Source: TradingView The ethereum price has dropped to $1,552 today, representing a 5% fall in the past 24 hours and a 6% loss in a week. The decline comes amid a marketwide selloff, caused by Kraken paying a $30 million settlement to the SEC and agreeing to end all staking services for US-based clients. Despite this knock to the market, ethereum remains a strong prospect for investors, with the altcoin currently witnessing 24-hour trading volume of over $10 billion (actually over $11 billion at last count). And with Visa recently that it's trialing stablecoin payments on the Ethereum blockchain, there are plenty of reasons to suspect that ETH will recover once again. Ethereum Price Prediction as $10 Billion Trading Volume Comes In – Can $ETH Reach $2,000 Soon? Based solely on indicators, ETH is in a position for further losses at the moment. Its 30-day moving average (red) appears to have crested in relation to its 200-day (blue), so should -- along with its pr...