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Bitcoin backs off from another lift above 14k

04 Nov, 2020

It was noted here late yesterday afternoon that Bitcoin was the start performing coin in the Crypto sphere. In fact it went further as it lifted above 14,000 again, reaching 14,074 after the main US markets closed yesterday evening. However, that close came as US equity futures were elevated and the dollar was on its lows. It was also before it became clear that the US presidential race was going to be a lot closer than many people had thought would be the case. The sell off in the US equity futures and dramatic recovery in the dollar helped to push Bitcoin back down again, to as low as 13,700. However, given the moves elsewhere in the other markets the move lower in Bitcoin so far today has not been very dramatic at all. Perhaps that is simply because the market there was not so wrong footed as it clearly was elsewhere. Well, that remains to be seen, Meantime, Bitcoin is holding within a steady range this morning, currently trading at 13,785

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