After bitcoin (BTC) managed to rise just above $ 12,000, the price fell below this support. BTC then formed a low at $ 11,319 and started trading slowly again from that point. In addition, a striking climber can be found between the altcoins in the top 10.
At the time of writing, the price of bitcoin (BTC) is $ 11,799 according to CoinMarketCap after an increase of 0.3% in the last 24 hours. The market capitalization of the cryptocurrency is $ 212.7 billion. Against the total market capitalization of $ 342.7, bitcoin dominance is 62%, a decrease of 0.8% compared to yesterday. A signal that the altcoins are recovering.
Despite the fact that bitcoin is currently about 13% lower than the annual high of nearly $ 13,900 it reached last week, no further correction has been made. At the low point of the correction, bitcoin was 25% in the minus compared to this high point. So at the moment it seems that the bulls have been able to make up for a significant part of these losses.
Bitcoin is currently playing around with the $ 12,000 on cryptocurrency exchange Coinbase. Every now and then the course manages to break out of it, but until now this has not been convincing enough. Each time, the course changes, as during the writing of this article. Bitcoin is currently worth $ 11,733 on Coinbase after it tried to break the $ 12,000 again.
On the weekly chart, the trend is still clearly up, despite the recent price movements. This uptrend has actually been going on since the beginning of 2019, but it really started in April. Even mainstream -media begin bullish recognize movements.
Forbes recently wrote a positive article about Bitcoin. The following could be read:
This week, when the price volatility of bitcoin made headlines, I saw that core bitcoiners were excited about something completely different – the hash power of the network reached a record high and the “difficulty” too.
In addition to bitcoin, the rest of the top 10 also show green numbers. After a few days of red numbers, a number of big risers can now be found. The biggest riser at the moment is litecoin (LTC) with a value of $ 128.92 about 10% in the plus. In addition, with a 3.4% increase , ethereum (ETH) managed to rise above $ 300 again. ETH is worth $ 311.3 after this increase.