Are Altcoins Dead? Bitcoin (BTC) Gathers Momentum As Domaince Tops 70% Leaving 30% For Altcoins
Again, Bitcoin BTC soars despite comments made by financial institutions
and government bodies. The price rose to $11,000 from $10,700 the previous night. Bitcoin and the cryptocurrency industry have been under attack from political figures and the government. The onslaught started the US president Donald Trump, who called bitcoin and the cryptocurrency market ‘substance less’. The chief of the Federal Reserve took the baton and criticized bitcoin, the crypto industry and facebook’s plan to launch its cryptocurrency. The most recent advocate for the ban on cryptocurrency was US treasury secretary Steven Mnuchin.
Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin’s Dominance Surges To 70%
Bitcoin news today learned that Steven Mnuchin believed that cryptocurrencies were a risk to national security and could be exploited to finance terrorism, drug trafficking, tax evasion, and cybercrimes. Steven Mnuchin also declared that he didn’t feel comfortable with facebook’s proposed move to cryptocurrency. Analysts, on the other hand, give a bitcoin price prediction in favor of a rise in the price of bitcoin BTC. Tom Robinson, the chief scientist in a blockchain forensics company called Elliptic said that the government’s stand against bitcoin and the cryptocurrency industry was bullish as the government’s stand only seemed to bolster bitcoin BTC. Tom Robinson stated that the government already had anti-money laundering laws in place.
Bitcoin latest update shows that Bitcoin rose by 8% in the last 24 hours from less than $10,000 to the $10,800 mark where it currently resides. The BTC briefly touch the $11,000 mark but couldn’t remain there for long. It has been trading comfortably at the $10,600 to $10,700 range. This rise in price for the number one cryptocurrency in the industry is a much-needed boost. This is because there has been a trend of dips across the major coins in the market. Having a strong and steady BTC is hoped would stabilize the other cryptocurrencies.
Bitcoin News Today – Bitcoin Price Prediction – Bitcoin Latest Update – Bitcoin’s Positive Resurgence Is Hope For The Cryptocurrency Market
Bitcoin price prediction made by crypto analysts shows a resistance level of $11,00 to $11,200. The supporting levels are $10,600 and $10,300. Bitcoin BTC market cap stands at $190 billion. It has over 17million BTC coin in circulation and ROI of 7,862.71%. The 24hr volume stands at over $22billion. Bitcoin MACD is bullish and the RSI is 60. Researchers and analysts point out from a bitcoin price analysis that a dominant BTC was the norm in the cryptocurrency market. Trader and crypto analysts Luke Martin showed the pattern of dominance by bitcoin throughout history. Bitcoin dominates up to 90 percent of the cryptocurrency market. He stated that it would be odd if that dominance fell to 50 percent or below, as Bitcoin BTC affects the other cryptocurrencies.
Bitcoin price forecast shows that the rise for bitcoin will remain bullish and it will continue to dominate the crypto market. An expected rise to $15,000 before the end of the year is predicted. This mark seems feasible even though there have been some rough patches in the climb to attain that goal. A bitcoin price prediction sees the value of BTC reaching $30,000 in the next two years.
Article Produced By
Ufuoma Ogono
Ufuoma is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
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