Bitcoin, Gold Dives in Tandem as China Posts Poor Economic Data

Perceived safe-haven assets Bitcoin and Gold were trending downwards on Friday as investors processed the emotional aftermath of China’s weak economic data.
Bitcoin extends bearish bias after breaking crucial support of $8,000 | Image credits: TradingView.com
The BTC/USD instrument slipped by 1.96 percent, or $158.23, on San Francisco-based Coinbase exchange to trade at $7,917.97. The downside pressure mounted shortly after the Shanghai market open, leading to a circa $308 drop right ahead