Fasten your seat belt because this week there will be something interesting, including the OPEC meeting and US and Eurozone inflation data.
Meanwhile, all the majors are keeping their ranges. The only exception is Bitcoin, which has climbed to the new record highs. The currency skyrocketed to $9500 on the news that one of South Korea’s largest commercial banks Shinhan (NYSE:SHG) is testing a virtual Bitcoin vault that is expected to be offered to clients in mid 2018.
Since the beginning of this year, the cryptocurrency has added more than 900%. Of course compared to Etherium’s +5000% is just nothing, but anyways. On Monday morning, Bitcoin peeped above the $9500 mark. We can see all the signs of a market bubble.
Of course, it may take a while for this bubble to burst. It may take a while before the market starts panicking and breaks into a run. What we see now is a growing popularity of the digital money, let’s say ‘crypto boom.’ So it will likely continue scrambling to the upside. The test of $10,000 is not ruled out and we may see it this week.
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