Good news for Bitcoin holders

This is Bitcoin’s best performance in around two weeks, even as it copied trend of traditional markets that have posted similar bounces within the past 24 hours. The upside was also very much similar to that of Gold. On September 14, the precious metal touched highs of $1,970, adding nearly 0.4% to its price during the US trading session.

Bitcoin’s gains also reflected the action in the derivatives market where buy liquidations on BITMEX outpaced sell liquidations. Also in play appears to be the optimism around the Federal Open Market Committee (FOMC) meeting scheduled for Wednesday.

Traders are waiting to see if the Federal Reserve continues to take a dovish approach. This, coupled with a floundering Dollar index, is likely to provide further impetus to Bitcoin’s upside.A lot seems to come further for Bitcoin traders and seems like good news only.

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