Bitcoin price retreats from four-month high
The U.S. fiscal situation and Moody's credit rating downgrade have caused Bitcoin to pull back from its four-month high.
Bitcoin reached a four-month high as investors sought alternatives to the dollar amid growing concerns over the U.S. economic outlook. However, this rally was short-lived, and the cryptocurrency experienced a slight decline.
U.S. President Trump is increasing pressure on Republicans in the House of Representatives to pass a tax cut bill. This development follows Moody's Ratings' downgrade of the U.S. credit rating due to rising national debt.
The easing of tensions in the global trade war has increased investor risk appetite, providing support for Bitcoin. However, persistent uncertainties are causing investors to remain cautious.
Bitcoin previously reached a four-month high of 108,015 dollars, but later fell to 106,330 dollars, a decline of 0.57 percent.
News Source: 12punto
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