RATE Group | Bitcoin Drops as Investors See Optimistic Signs on Trade Deal
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Bitcoin Drops as Investors See Optimistic Signs on Trade Deal

12 Oct Bitcoin Drops as Investors See Optimistic Signs on Trade Deal

Posted at 05:57h in Bitcoin News by

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Bitcoin struggled to maintain gains on Friday as investors processed the possibility of an optimistic trade deal and Brexit.

The benchmark cryptocurrency was trading at $8,373.96, down 2.49 percent as of 11:03 UTC. Its downside sentiment came on the back of an unbiased Thursday, wherein its opening and closing price was almost the same. The rate also remained capped under technical barriers, represented by a long-term moving average indicator in the chart below. Meanwhile, sentiments arising from the rejection of yet another Bitcoin exchange-traded fund in the US kept potential buyers at a distance.

bitcoin, brexit, trade deal

Bitcoin capped by the red curve (200-day MA) | Image credits: TradingView.com

Brexit meets US-China Trade War

Bitcoin’s losses occurred on the day when two of the global market’s most significant concerns hinted at a resolution. On the US-China trade war, President Donald Trump said that their discussion with the Chinese is “going very well” shortly after Beijing offered to…

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