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Bitcoin to ATHs as Uncertainty Takes Over

Posted Thursday, January 7, 2021 by
Rowan Crosby • 1 min read

While we expected uncertainty few could imagine what we were going to witness in Washington DC.

With huge crowds gathered, Congress met to certify the election results and as many thought might happen, VP Pence did not back up President Trump.

At the same time, people started to swarm Congress and the session was halted with the key players being taken out of harm’s way.

The scenes were unlike anything we have seen, however, it is worth noting that the huge turnout at the rallies tells us a lot about what the people of the US are currently thinking.

 

Bitcoin Breakout

We have been on watch with BTC in particular as we know that at the moment, it is a clear safe-haven trade. Price action was quite strange across the board yesterday, as even the likes of GOLD were up and down, markets didn’t really know which way they wanted to move and many of the forex pairs pushed higher against the USD.

Bitcoin took out the $35,000 level and has traded up to the $37,500 mark and looks strong here.

ETH and LTC have also broken out and across the board we are seeing strength as people look for a place to park their money.

My thoughts are that this is far from over and we are going to see more civil unrest in the days ahead. There is a strong chance we see military intervention here on top of the National Guard.

President Trump has urged protestors to go home and stay safe. What comes next I’m not sure…

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