Cryptocurrencies Tumble as Dollar Jumps

August 20, 2020

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Bala is the Editor of MoneyCentral Media. Bala is a Fellow (FCA) of the Institute of Chartered Accountants in Nigeria (ICAN) and holds a Bsc in Accounting from the University of Abuja. Bala has over 12 years’ experience in the financial journalism landscape with specialization in the Insurance, markets and Finance sectors.

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Cryptocurrencies sold off on Wednesday, with the dollar rising after the Federal Reserve minutes signaled downward revisions to economic projections.

Recent dollar weakness had been a bullish sign for Bitcoin and peer currencies.

Bitcoin, which is the world’s largest digital coin, this month rallied above $12,000, a key level watched by chartists and crypto fans. On Wednesday, it fell to as low as $11,621.

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Cryptocurrencies Tumble as Dollar Jumps

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