Bitcoin Pumps to Mid-June Levels following Boris Johnson’s Resignation
— Johnsons, Market, Midjune, Resignation, Levels, Boris, Bitcoin, Party, Johnson, Street — 1 min read
Bitcoin (BTC) hit the $22K level, a scenario last seen in mid-June after Boris Johnson resigned as the UK prime minister. Johnson resigned in a week marred by turmoil in British politics as various ministers quit based on a slew of scandals. Johnson’s authority was eroded, which typically paralyzed the UK government. Bitcoin has been struggling to hold the psychological price of $20,000. However, a market analyst under the pseudonym Tajo Crypto believes caution should not be thrown to the wind because BTC is still not out of the woods. Time will tell how the leading cryptocurrency will play out in the short term. If the price goes back above the 200-day exponential moving average, a technical indicator, a reversal might have happened. Source