RATE Group | Bitcoin Underperforms as Investors’ Focus Remains on Brexit
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Bitcoin Underperforms as Investors’ Focus Remains on Brexit

16 Oct Bitcoin Underperforms as Investors’ Focus Remains on Brexit

Posted at 14:42h in Bitcoin News by

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Bitcoin was trading in negative territory on Wednesday as a broader market focus remained glued on Brexit and other critical macroeconomic events.

bitcoin, cryptocurrency

Bitcoin price slips as speculators/investors shift focus elsewhere | Image credits: TradingView.com

The benchmark cryptocurrency slipped 0.12 percent to trade at $8,152.92, continuing its choppy actions seen after the last significant drop on September 24. The lack of upside bias in the bitcoin market was visible in the performance of rival cryptocurrencies. Almost all the top altcoins surged slightly against bitcoin on Wednesday, indicating traders’ conflict. Bitcoin SV, in particular, emerged as the top performer, rising more than 6 percent against bitcoin on a 24-hour live timeframe.

Brexit, China’s Capital Injection in Focus

Bitcoin’s losses came on the day China surprised traders with a sudden injection of $28 billion into the financial system. The People’s Bank of China (PBOC) added the said amount through its medium-term…

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