Bitcoin down for third day

04 Aug, 2022 - 00:08 0 Views
Bitcoin down for third day Bitcoin has its “sights set on US$25 000 it seems”, he said, following its rally last week after a few difficult months of trading. “The momentum indicators will be fascinating here as the recovery appeared to be losing steam during the last ascent in late July.”

The Herald

A bout of jitters in global markets over deepening US-China tension weighed on cryptocurrencies, pushing Bitcoin lower for a third day.

The largest digital token fell as much as 1,6 percent to US$22 769 on Tuesday and was trading at US$22 860 as of 2:57 p.m. in Tokyo. Ether at one point shed 3,7 percent, while smaller coins ranging from Polkadot to Cardano were also in the red.

US House Speaker Nancy Pelosi is set to land in Taiwan on Tuesday and would be the highest-ranking American politician to visit in 25 years. China views the island as its territory and has warned of consequences if the trip happens. The risk of escalation led investors to dump stocks and US equity futures. Before the latest gyrations, Bitcoin made a weekend run toward $25 000 on the way to rounding out its best monthly gain since October last year.    –Bloomberg.

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