Express

Bitcoin's Rally Falters After Failing To Break Past $16,000

Emily Mason

Summary: As the U.S. stock market soars following the promising results from Pfizer's coronavirus vaccine trials, Bitcoin's rally is slowing after the currency failed to break past the $16,000 level.  Bitcoin is currently trading at $15,361 and is down 1.03% after nearing $16,000 earlier on Monday. Edward Moya, a senior market analyst at Oanda Corp, told Bloomberg ...

As the U.S. stock market soars following the promising results from Pfizer's coronavirus vaccine trials, Bitcoin's rally is slowing after the currency failed to break past the $16,000 level. 

Bitcoin is currently trading at $15,361 and is down 1.03% after nearing $16,000 earlier on Monday. Edward Moya, a senior market analyst at Oanda Corp, told Bloomberg that Bitcoin's price action is mirroring gold demonstrating that investors see the cryptocurrency as a safety trade. With a vaccine for coronavirus seemingly imminent, traders are reducing their crypto exposure, Moya said. 

By Emily Mason

Last Update:

Tags: ,,
Link: Bitcoin's Rally Falters After Failing To Break Past $16,000   [Copy]
Next:

Related Articles

  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 4 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 6 days ago
  • Bitcoin Weekly Analysis: Is a Bear Market on the Horizon? 8 days ago
  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 11 days ago
  • Can a $300M RWA Fund Save Avalanche's TVL? 12 days ago

    • You need to login to comment.