Bitcoin Rises Ahead of ECB Meet; How Eurozone Could Impact Price?

5NEM0NyY 980x580

Bitcoin bounced back on Thursday as the dollar weakened. But the cryptocurrency refrained from making any significant moves ahead of the European Central Bank’s monetary policy resolution later today. BTC/USD surged by up to 1.89 percent to hit an intraday high at $10,417.80. Earlier this week, the pair was trading for as low as $9,819. That signified that traders wanted to keep the price above $10,000, a psychological support level. While BTC/USD showed signs of upside momentum this Thursday, its overall price action remained choppy at best. Bitcoin recovers on an intraday basis. Chart Source: TradingView.com A lot of it has to do with investors’ seesaw interest in safe-haven assets, especially as the US dollar regained some of its value after falling to its two-year low on September 1. Meanwhile, a downside correction in global stocks further accelerated sell-offs across the Bitcoin and gold markets. But traders are still avoiding…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE