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On Tuesday, Bitcoin went down, while Ethereum, Bitcoin's closest counterpart, tumbled too.
Bitcoin sank to $2,690.3, on the U.S.-based GDAX exchange, sliding 2.56%.
The previous week Bitcoin tacked on, climbing to a maximum of $2,953.5 on July 19, shrugging off its record peak of $3,000 reached in June.
Prices grew after the previous week Bitcoin dodged a split into two independent currencies when its network backed a proposal on upgrading to its software for the purpose of speeding up transactions on the Bitcoin network.
According to reports, the upgrade to Bitcoin's network won’t occur until autumn.
The support of Bitcoin miners, making up almost 80% of Bitcoin’s computer power turned to be crucial in ‘locking-in’ the software upgrade, known as Bitcoin Improvement Proposal 91.
At the same time, Ethereum mirrored Bitcoin’s dip, sagging 5.18% to $215.00, rebounding further from its all-time maximum of $419.3 hit on June 11.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.
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