Bitcoin Dominance At 2018's High / Bitcoin Ending The Week At Highs
Bitcoin continues to reclaim some of the ground it lost to altcoins during the biggest rally in cryptocurrencies. Currently the cryptoking sits at 41,4% Dominance (193.5B out of 467.5B) and by the looks of it it might increase its lead by few Billion more. As you can see all other major currencies dominance is decreasing. Obviously the speculators prefer to stack up some Bitcoin and dump other coins.
Bitcoin Dominance for 2018
It has come to my attention that the recently ended ICO's are selling off pretty sharply. People prefer to get out of the highly speculative projects in order to jump into some solid ones ( Like Bitcoin). Also people preferring Bitcoin at the moment is not a big surprise as a lot of positive news have hit the market lately. The Lightning Network being the biggest one of them.
Bitcoin Weekly Chart
Bitcoin weekly is looking extremely bullish, the only obstacle at this point is the 12,000$ resistance level. Once we break it 13,500$ is very close and from there on new highs are in reach.
I will be very happy if better days are ahead of us and this bear market is over. What do you think ? Is this over or next week we will see the bears strike back?
It's the same story as always. When Bitcoin start to be bullish everybody dumps alts and stampede into BTC.
Beautiful morning star pattern have formed with doji like middle candle, in my opinion a good promise for uptrend move.
Certainly looks great for some bullish action.
Hope we will go straight up, but if some corrective downs occur I take that either.
Yeah, I keep wondering what will happen if BTC dips again at 6000$. A lot of altcoins are still at the lows, so if btc dips again are they going to dip another 50% or hold their ground. Very interesting stuff indeed.
I think that so bad it will not be. Some correction (61.8%) to $8000 and then up to $12300 if you start measuring from the lowest dip at $5900 in the worst case.
If you measure from $9300 the 61.8% correction sit at $10k psychologically quite strong support which is more likely to happen.
Volume if falling and steam runs out. Basically I decide to close may positions somewhere around $11000 and wait for some more reliable signals, but if price bounce from $11k, I'm staying in trade.
Alts will go down with BTC proportionally.
I am currently in a little short ETH position from ~ 890$. Very interested to see if today the 850$ support holds once again. As for BTC I think we might see a test of the 8-day at 11,063$. Thanks for commenting
Btc is already bellow your target at the moment! and you doing well with ETH at the moment!
Congratulations!
I currently sit on cash. I trade in BitShares and can short stuff there! Waiting for some good buy setups.
Bitcoin is seriously going back in to dominance territory yet again.
Absolutely. People see it as a better bet than speculative altcoins and it's ending the week at the highs. Very curious to see what the next week holds :)
So, again that has been proven that anyone cryptocoin can't replace the crown of BTC.
It sure looks like it at the moment ! :)
It's the same as past crashes. Bitcoin will be first to rally and it already has been. I believe it has successfully entered bull territory as of tonight. While the altcoins will also advance, only when it has reached another all time high and another correction begins will the altcoins see another insane rally like last December.
Yes, most likely you are right. We will see, let's hope BTC hits another highs soon enough :)
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