RATE Group | Bitcoin Price Retreat But Sentiment Improves Above $5,000
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Bitcoin Price Retreat But Sentiment Improves Above $5,000

18 Mar Bitcoin Price Retreat But Sentiment Improves Above $5,000

Posted at 10:55h in Bitcoin News by

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Bitcoin price retreat today as the consolidation phase around 13-month lows continues. BTCUSD failed to capitalize on the interest rate cut by the Fed and the liquidity injection in the markets amid the turbulence. Coronavirus crisis increased the demand for the US dollar as investors running to cover in cash.
Brian Brooks, the Chief Legal Officer of Coinbase, has appointed to serve the U.S. government as the Chief Operating Officer and First Deputy Comptroller of the OCC. Brian Brooks has advocated that the U.S. government needs to design its own digital currency.
The major cryptocurrencies are also declining by over 2%. Ethereum is 2.98% lower at 112.46, Litecoin is 2.28% lower at 33.28 while Ripple is 2.59% lower at 0.1438.

Bitcoin Price Analysis

Bitcoin price is 2.27% lower at $5142 as the price stalled at $5500 level. Bitcoin has formed a robust first base around $4,800 while the sentiment improves as long as BTCUSD trades above the $5,000 mark. Bitcoin…

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