RATE Group | Sellers come in ahead of 10,500
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Sellers come in ahead of 10,500

23 Aug Sellers come in ahead of 10,500

Posted at 21:48h in Bitcoin News by

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  • In an eventful day in the financial markets BTC/USD fails to breach 10,500
  • As stocks and the dollar sell of Bitcoin rose 2.4%
  • Late in the session sellers come in to take profits

Bitcoin intraday chart

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. He said he wasnt sure who was the biggest enemy Powell or China’s Xi. Finally, later in the session Bank of England Governor Carney sounded a ringing endorsement for cryptocurrencies saying Libra could replace the dollar as the worlds reserve currency. 

Looking at the price action in Bitcoin now it seems some sellers have come to market either to take profits or due to Carney’s comments about Libra. In other occasions,…

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