News, Trends, & Analytics 13.05.2020

What happened to Bitcoin?

Today, the focus is on the plans of Saudi Arabia to limit oil production, China has abolished duties on a number of American goods, as well as Bitcoin halving.



Bitcoin survived the third halving in its history. Affects Bitcoin

The World Health Organization has noted the effectiveness of some COVID-19 control agents. Affects USD

Saudi Arabia promises to reduce oil production by 1 million barrels per day in June. Affects Brent

China abolishes duties on 79 items delivered from the United States. Affects S&P 500

Russia removes part of their quarantine measures, despite the steady trend in the incidence of COVID-19. Affects RUB



06:00 GMT

A preliminary report on the U.K.’s GDP growth in the first quarter of 2020 will be released. Expert rating: -2.5%. If the real data is higher, the GBP will be likely to grow.

12:30 GMT

The US Producer Price Index will be published. The forecast is -0.5%. Deviation higher may lead to an increase for USD.

14:30 GMT

There will be a report on changes in crude oil reserves in the United States. Forecast: an increase of 4.295 million barrels. A lower number of barrels will positively affect the price dynamics of Brent crude.


Technical Analysis


Miners faced a new but expected test — the reward for mining blocks in the Bitcoin network halved. The reward fell from 12.5 to 6.25 bitcoins. And now the market is waiting for a decrease in miner activity, which is reflected in cryptocurrency quotes – a drop from 10,000 to 9,000.

If it breaks down to the level of $8,000, a scenario may begin to come true to decrease to the lower boundary of the expanding channel — a range in the region of 3,000.

NTA 13.05 - EN_0


Against the background of stabilization of the situation around the COVID-19 pandemic, there is a decrease in demand for USD. In this case, the asset can reach the level of 0.96000.

NTA 13.05 - EN_0

Basic altcoin index

The index is favorably affected by the drop in bitcoin quotes, therefore, the upward trend may continue to the resistance level of 5.27. The formation of a rising low also speaks of a bullish trend of the asset.

NTA 13.05 - EN_0


USD/CHF on this day in history

  • Since 2000, May 13th has been a trading day 14 times.
  • On 71% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0.99%.
  • The downward trend was limited to 1.59%.
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