Bitcoin Remains Steady Amid Weaker Volume
www.coindesk.com
The surprise U.S. Federal Reserve rate cut Tuesday corresponded with a spike in positive cryptocurrency trading, with a jump of 1,699 trades in one hour on Coinbase. However, bitcoin’s 10-day moving average crossed below the 50-day average at around 12:00 a.m. UTC, falling even though Tuesday’s trading action pushed prices back up into the $8,800 range.
The subsequent holding pattern for bitcoin prices can be attributed to jittery trading sentiment related to coronavirus fears, according to Alex Mashinsky, chief executive of cryptocurrency lender Celsius. Other notable movers in the cryptocurrency markets include decred (DCR) up 5 percent, bitcoin SV (BSV) in the red 8 percent and ethereum classic (ETC), down 7 percent.
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