A Worrisome Gold Warning Puts Bitcoin At Risk of Plunging; Here’s How

A Worrisome Gold Warning Puts Bitcoin At Risk of Plunging; Here’s How


Bitcoin was trading lower ahead of the New York opening bell Friday as the US dollar rebounded despite its prevailing bearish setup.

As of 0649 EST, BTC/USD was changing hands for $10,289, down 0.53 percent from its daily open. The pair surged during the Asian and European session as a strengthening EUR/USD kept dollar bulls at bay. Investors bought euro as the European Central Bank left its existing monetary policy unchanged on Thursday.

Prospects of a weak US economic recovery also pressured the dollar, a move that benefited the safe-haven assets. Gold, for instance, rose in the early Friday session, with its spot rate rising 0.3 percent during the European trading session. Bitcoin, like Gold, surged on similar sentiments.

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