Bitcoin: Fails to Live up

Bitcoin resumed its decline during European hours to test $ 9,133 while the crucial support at $ 9000 remains intact. At the time of writing, Bitcoin was trading at $ 9155, however, if it continues to gain bearish momentum it may retest the mentioned support area during American hours.

Loose monetary policies,  low yields, and economic uncertainty benefit the safe haven metal, as investors tend to shy away from risky assets. Bitcoin is often promoted as a hedge against inflation and protect investors from irresponsible monetary policies.