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Bitcoin stronger despite US tax change potential [Video]

Bitcoin stronger despite US tax change potential [Video]
Steve O'HareSteve O'HareSignal Centre

Cryptocurrencies held firm in early Europe and then secured further strong gains later in the day. Bitcoin posted strong gains despite a firm dollar. There was also further evidence of a switch out of precious metals which triggered fresh demand.

Markets continued to monitor US Senate developments with further attempts to introduce a tax on cryptocurrency transactions to fund the infrastructure spending.

Bitcoin posted strong gains to above $46,000 and found support after a sharp dip to $45,000 to trade above $45,500 on Tuesday.

Ether also posted strong gains to highs above $3,150 later in New York and settled above $3,100 on Tuesday.

Author

Steve O'Hare

Steve O'Hare

Signal Centre

Steve has over 30 years of trading experience in Commodity, Equity and Fixed Income markets, in both research and trading.

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