The Bitcoin is attacking the USD 9000 level this weekend and confirms the upward trend of the past few days. Bitcoin SV, on the other hand, has to accept losses in the double-digit percentage range and could fall back to position 6 in the coming hours. We take a look at the current events in the cryptospace industry.
Bitcoin course in detail
The Bitcoin is currently quoted at 8922 USD. A 24-hour volume of more than 33 billion USD implies an increasing demand from investors. In a turbulent week, the Bitcoin Dominance Index dropped to a value of about 65%. As a result many investors hoped for a comeback of the Altcoins. At the time of writing, the Bitcoin Dominance Index is at 65.9%. The resistance at the 9000 USD border seems persistent at first glance. However, a continuous breach of this barrier could represent a very strong support level on the way to the magical USD 10000 mark.
The Altcoins were able to emerge from the shadow of the No.1 crypto currency this week. Ethereum is now trading at USD 177. At the beginning of the year, worried supporters still feared the fall below the 100 USD mark. ETH’s market volume is around USD 19.4 billion, and investors are increasingly betting on the Altcoin again, with their eyes set on the “Ethereum 2.0” launch. However, there is not yet a concrete launch date for this.
BSV proponent Craig Wright dominated the headlines in the cryptospace industry in the last few days. Is the self-proclaimed Satoshi in possession of billions of private keys or not? This question cannot be finally clarified today either. However, the Bitcoin-SV has to accept a dump of about 10%. This threatens the fall behind the Stable Coin Tether.
Stellar back in the Top 10
After the Privacy Coin Dash made a comeback in the top 10 on Wednesday, Stellar can now place itself in the top 10 with a price gain of 10%. However, this could only be a snapshot, as Stellar, Monero, TRON, Cardano, ETC, Tezos and Dash are at similar levels (in terms of market cap).
Volatility is back
Price jumps of more than 100 % were rarely seen in 2019. Now a Top 10-Coin with BSV shows how volatile the crypto market is. As a result, more than USD 40 billion flowed into the market, investors remember the crypto hype of 2017. In addition, the Crypto-Space is looking forward to several highlights this year. The third Bitcoin Halving Event will take place in May, after which the inflation rate will drop to around 2%. If the Halving Event meets a bullish market, there is little to stop a spectacular bull run. In addition to the Halving Event, the Libra launch and the GRAM project could attract new users to the cryptospace. One thing is certain: We are in an exciting crypto year!