RATE Group | Bitcoin Holds Gains against Trade Deal Hopes, Brexit Uncertainty
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Bitcoin Holds Gains against Trade Deal Hopes, Brexit Uncertainty

22 Oct Bitcoin Holds Gains against Trade Deal Hopes, Brexit Uncertainty

Posted at 13:39h in Bitcoin News by

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Bitcoin was maintaining its weekend gains on Tuesday as investors assess positive outcomes from the ongoing US-China trade talks but remained uncertain over the Brexit deal.

The benchmark cryptocurrency established a session high of $8,296.50, up 1.05 percent from the market open. The upside move was minor in the context of bitcoin’s recent losses. Therefore, the cryptocurrency somewhat remained under the risks of further downside moves. At the same time, alternative cryptocurrencies, or altcoins, performed way better than bitcoin, indicating that traders are looking elsewhere as the number-one cryptocurrency shows low price volatility.

bitcoin, bitcoin price

Bitcoin price trending sideways | Image credits: TradingView.com

Famous cryptocurrency investor, codenamed Salsa Tekila, noted that bitcoin is now consolidating around the $8,000 level for almost a month. He said the absence of corrective trades could push the cryptocurrency lower.

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