Bitcoin and Other Digital Assets Bounces Back to Bullish Track Even As GBP/USD Price Rises
Published on: 03/9/20 8:14 AM
Bitcoin and other digital assets bounced back to the bullish track after more than a week bearish run. While BTC/USD price rose past the $9,000 mark, other assets like Whitecoin, ABBC, Waves, and ICX recorded a tremendous increase in price. Meanwhile, GBP/USD price surged past the 1.30 mark amidst the rancor of Brexit talks. Forex Broker comparison service FXBrokerFeed brings you the latest news bites and trends in the FX Broker Market, featuring Cryptocurrencies back to the green zone and British pound gains.
Bitcoin and Other Digital Assets Now in Bullish Track
Smiles have returned to the faces of some traders, as Bitcoin and other cryptocurrencies returned to the bullish track this week. BTC/USD
traded above $9,000 on Thursday, even though it is still uncertain if the $9,250 resistance will hold.
Experts believe that it is just a minor correction in the market because there are strong indications that the Bears aren’t done yet. The downward trend in the market is expected to continue in the long run if the $9,250 resistance should hold.
Other digital assets were not left behind in the market correction
, with many of them recording huge price surge. Whitecoin recorded the most appreciation with a whopping +1,074% increase in a single day. Other top gainers included ABBC, Waves, and ICX, with 21.5%, 15.3%, and 14.2% increase, respectively.
Meanwhile, many traders have their hands crossed, as caution continues to be the watchword in the market due to many uncertainties.
British Pounds Gains amidst Brexit Talks’ Rancor
As many continue to wallow of the Brexit talks, the British pounds recorded significant gains over the US dollar, causing the GBP/USD price to surge past the 1.30 price mark. The increasing price of the pair is somehow unexpected, especially because of the continuous havoc of the coronavirus epidemic.
However, experts warn that traders should be careful and exercise patience before trading the pair to avoid losses. One of the reasons for such a warning is data from the RSI indicator that exposes a looming reversal in the price movement.
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