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Shooting star concern for Bitcoin [Video]

Shooting star concern for Bitcoin [Video]
Steve O'HareSteve O'HareSignal Centre

Cryptocurrencies held firm in early Europe and bitcoin posted a net advance to near $66,500.

Confidence retreated into the New York open and there was sharp selling alter in session as the US dollar gained traction and commodity prices declined.

Bitcoin dipped to lows just below $64,000 late in US trading.

Underlying selling continued during the Asian session with bitcoin sliding to below the $61,000 level.

A firm dollar eroded support and there were further warnings over crypto assets from China.

Ether peaked above $4,750 before a slide to near $4,600 and losses accelerated to near $4,300 in Asia 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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