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eToro Market Update: Brexit, 5G Tech, Bitcoin Downward Break
Hi Everyone,
Writing to you today from the D&DD conference here in South Tel Aviv. Met a lot of interesting people already today. Give me a shoutout if you’re in town.
I must admit that given the name of the conference I was expecting a more cosplay-like theme but I’m not sure how much overlap there is with Defi and dApps.
Still, it’s wonderful to see so many people actively involved in building the next layer of the internet. One that is decentralized in nature. The new internet of value is currently under construction and coming very soon.
@MatiGreenspan eToro, Senior Market Analyst
Today’s Highlights
- Parliament is Out of Order
- 5G Portfolio
- Some added Pressures
Please note: All data, figures & graphs are valid as of September 10th. All trading carries risk. Only risk capital you can afford to lose.
Traditional Markets
Focus is back on Brexit today but it seems this is probably the last we’ll be hearing about it for a bit as the UK Parliament has now been thrown into a 5-week recess.
After losing several votes, Prime Minister Johnson decided that he’s better off not dealing with the opposition and sent them on an unwanted holiday. Not to worry though, they will be back on October 17th. Two weeks before Brexit’s current scheduled date.
The British Pound is taking this news surprisingly well. As we can see the GBPUSD has bounced off the key level of 1.20 earlier this month and seems to be holding up just fine for now.
This is something we discussed at length in yesterday’s market webcast for premium and professional clients. Watch the recording here.
5G Tech Portfolio
It seems that 5G technology is taking the world by storm. This new network is set to vastly increase internet speeds. These days we’re used to seeing speeds of 20 to 50 megabytes per second. With 5G that number easily comes up over 1000 mbps. Here’s a cool video that explains it.
Here at eToro, we see this as an investable trend and true to form, have put together a thematic, ready-made investment portfolio for you.
You can already check out the new @5GRevolution CopyPortfolio on the platform. Here’s a video that showcases the portfolio.
This is not investment advice or anything, but I’ve already added it to my personal portfolio for the sake of diversification as it contains many telecom stocks that I didn’t previously have exposure to.
Some Crypto Pressures
As crypto markets remain stagnant, I did want to point out a few pressures that are facing certain cryptocurrencies like Ethereum and XRP (don’t kill me).
Even bitcoin is going through a rather bearish technical setup right now.
I’ve explained all this and more for you in this week’s Weekly Interview with Cointelegraph. So make sure to watch it now.
Now, if you’ll kindly excuse me, I’m about to watch our CEO Yoni Assia face-off with famous Bitcoin maximalist Udi Wertheimer in what is sure to be a ferocious debate about the viability of smart contracts. The stage is already set.
Have a fantastic day ahead!
Best regards,
Mati Greenspan
Senior Market Analyst
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