Business Maverick: Bitcoin back down below $20,000 on post-Jackson Hole caution

Bitcoin fell as much as 2.3% on Monday to $19,527. That’s on course for a fifth straight day of declines, coming after US stocks fell on Friday following Fed chair Jerome Powell’s speech at the Jackson Hole conference. The wider crypto market retreated Monday, with the MVIS CryptoCompare Digital Assets 100 Index dropping as much as 2.5%.

The $20,000 level acted as support for Bitcoin when it hit lows in recent months, but the cryptocurrency had worked its way higher in recent weeks. Before Saturday, it hadn’t been below $20,000 since July 14, and had even crossed above $25,000 earlier in August. Numerous strategists have flagged $20,000 as a key point for Bitcoin, though levels of support could lie lower as well.

“If Bitcoin doesn’t hold $20,000, then $18,900 comes into play before a date with the June intraday low of $17,600,” said Antoni Trenchev, co-founder and managing partner of Nexo, in a note on Sunday. “Close below that and it doesn’t look pretty.”

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Business Maverick: Iran may drain offshore crude oil cache if nuclear deal reachedProgress towards an Iranian nuclear deal has thrown the spotlight onto a sizable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out. Instead, he focuses on complementing his team and himself while people suffer. MuhammadQasimDreams I wish everyone can be like you, lisa , I haven't lost since you have been managing my trading account, I love you so much LisaMarkdona2
Källa: dailymaverick - 🏆 3. / 84 Läs mer »

Business Maverick: Default jitters stalk Egypt, sending traders on a wild rideAn already turbulent year for emerging-market traders is getting another shot of adrenaline as Egypt fights to avert a debt crisis.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »