Bitcoin falls under important brand
The bulls were only able to stay above the important USD 12000 mark for a short time. In the night to Wednesday the bears took over again. However, the current fall in prices is much gentler than in the past weeks. A sign for a quick comeback of the bulls? At the same time, many Altcoins have to record heavy losses on Wednesday. We take a look at the current situation.
Bitcoin price current
At the time of writing, the market leader is quoted at USD 11805, which corresponds to a daily gain of – 1.81 %. In the past 24 hours, investors have pulled over $3 billion out of the market. However, from a bullish perspective, the trend line at $11 800 may prove to be an important support. This would provide a solid base for a new attack on the USD 12000. Further down, the next supports are at 11600 USD and 11400 USD. For weeks now, the No.1 crypto currency has been struggling at the 12000 USD line. Here the further course of the price could be decided.
Bitcoin Dominance Index rises
The Bitcoin Dominance Index is considered an important indicator to determine the balance of power between the BTC and the alternative assets. The index currently stands at 59.2 %. According to this, the first mover can regain important market shares on Wednesday. However, the situation looks worse for the Altcoins.
Altcoins with heavy losses
The Altcoins are crashing! Ethereum is in danger of falling below the important 400 USD mark after a daily minus of 3.08%. Currently the Smart Contract-Coin is traded at a price of 411 USD. Litecoin has to accept the biggest setback in the Top 10 with a price loss of 6.61 %. OMG conjures up the best performance on the crypto floor with an upward trend of 25.29 %.
The current market situation shows that the alternative assets continue to correlate with the chart trend of the bitcoin. For independent price outbreaks it is usually only sufficient if the digital gold also rises or moves sideways. The showdown at the USD 12000 mark could be accompanied by trend-setting consequences. Tension should be built up in the coming days.