Oil

FXPRIMUS, a leading company breaking new terrains in seamless trading experience, has announced the integration of a cryptocurrency-based services through trade.io. The integration now allows users to utilise trade.io’s TIO utility token to access Oil, FX, Gold, and Indices.

Venezuela plans on issuing a government-backed cryptocurrency called “petro”. The currency will be the first digital money actually backed by resources such as gold, oil, gas or diamonds.

Bitcoin has one of the highest price variations when compared with other financial assets traded on the forex markets. In the past year, the price of bitcoin has been more stable as compared with the price of oil from the world’s major oil producing nations.

Yesterday, August 10, the Bitcoin price soared to $600, and then dropped to $593.  The reason for this growth was the resumption of BTC trading at the Bitfinex Exchange.

After the slight decrease that we have seen over the past two days, the Bitcoin price returned to a level around $660. At the moment, this level supports the price and doesn’t let it to move down. The lack of sellers in the market, speaks to the imminent resumption of the uptrend.