BTC still over 10000 USD
The Bitcoin pulverizes the magic 10000 USD mark and the Altcoins use the bullish momentum. Due to the ongoing bull run, the total market capitalization is back at 300 billion USD after more than 6 months. We take a look at the current market situation.
Bitcoin price in detail
At the time of this article, the Bitcoin price is at a value of 10261 USD. This means that “digital gold” is approaching the resistance range of 10400 USD with large steps. In the last 24 hours BTC units worth more than 44 billion USD have been traded, a new annual record.
These limits are now important
Due to the strong bull run, the BTC shoots up by more than USD 800 and reaches a new 5-month high. On Tuesday everything looked like a consolidation at around 9800 USD. This is where the new support level lies ahead of the important USD 10000 mark. With the bullish trend, the No.1 crypto currency could now attack the long term resistance at 10500 USD. Should this limit fall, only a few resistances up to the $11000 level would create serious obstacles. Many indicators are currently pointing to a sustained price rally. Should a correction occur, the new support level is now at 10200 USD.
Bitcoin dominance continues to fall
The Bitcoin Dominance Index is considered an important indicator to assess the relationship between the BTC and the Altcoins. With a value of 62.6%, this index reaches a new annual low on Wednesday. The Altcoins are currently regaining important market share. This brings back memories of January 2018. At that time the Bitcoin scratched the 20000 USD mark and the BTC Dominance Index was at a similar level to the current one. But then there was a turning point. The index fell, in a few days, to around 30% and many old coins subsequently recorded a new all-time high. Whether the BTC Bull-Run will also herald an Altcoin Season this time is not clear. The Bitcoin Halving Event speaks against it. However, the volatile Altcoin Charts attract risk-oriented investors into the market.
Ethereum climbed above the USD 250 mark on Wednesday with a gain of around 14%. The “Smart Contract” coin is thus showing an impressive upward trend, considering that ETH Zurich is heading straight for the 100 USD mark in December 2019. In recent weeks, the ETH market cap has increased by more than USD 10 billion. For investors, ETH remains the safest old coin and the Ethereum 2.0 launch is just around the corner.
Tezos + 23 %
With a price increase of approx. 23 %, Tezos has the best performance on the crypto floor. XTZ thus defends its position in the top 10, and currently has a coin price of USD 3.24. Since yesterday Coinbase users can earn additional Tezos units through the Coinbase EARN program by answering questions about the technology and how it works.
Bitcoin Forks still stable
Bitcoin Cash and Bitcoin SV are still at positions 4 and 5 in the crypto charts. The turmoil surrounding the Kleiman trial and Craig Wright therefore has no negative impact on the BSV share price. Litecoin ranks 7th with a market cap of just under USD 5 billion.