Bitcoin dominance hits 1-year peak amid XRP sell-off as $24K briefly returns
Bitcoin sees major volatility and a tussle between bullish and bearish levels while altcoin traders feel the pain of an XRP sell-off. Bitcoin (BTC) kept the volatility coming on Dec. 23 as a dive to $22,800 sparked a lightning-fast rally to classic $24,000 resistance.Cryptocurrency market daily performance. Source: Coin360BTC dominance hits highest since late 2019Data from Cointelegraph Markets, Coin360 and TradingView tracked BTC/USD as factors including panic among XRP traders made unstable conditions prevail.At press time, the pair was circling $23,700 after briefly heading above sell....
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The Bitcoin dominance index has collapsed by 20 percentage points since the start of 2021. ETH, BNB and more speculative altcoin bets have seen their dominance rise over the same period. Bitcoin (BTC) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins were on the rise.The Bitcoin dominance index, which measures BTC’s market capitalization relative to the broader cryptocurrency market, reached a low of 49.35% on Thursday, according to CoinMarketCap. At the beginning of 2021, BTC dominance was....
Bitcoin market dominance continues to decline as the markets make their way back up the charts. The top cryptocurrency has seen its market share consistently dropping as investors get interested in altcoins. Over the five years since it has been in operation, Ethereum now has a bit under half the market dominance of the digital asset. This has translated to altcoins like Ethereum rallying despite what direction the price of bitcoin is headed. Now, once again, as is the same with all bull markets, the altcoins are breaking away from the influence of bitcoin. As the bull rally continues to....
Cryptocurrencies such as Bitcoin, Litecoin, and Dogecoin are known for their dangerous volatility, but have they generated any returns in 2015? Barring Dogecoin, which generated negative returns, the other two have generated phenomenal returns year-to-date (YTD) for investors. Let review each of them below. Bitcoin - A Wild Ride It Has Been! Image. Year-to-date: 24%. Bitcoin witnessed wide price vicissitudes in 2015, reaffirming its stance as one of the most volatile currencies in the world. Bitcoin started the year on a terrible note, immediately falling more than 50% from north of $310....
Over the years, a number of indicators have emerged that have helped to pinpoint the Bitcoin price top for each bull cycle. These have become quite popular due to their success rates during this time. As such, the Coinglass website collates all of these to form a progress chart that could tell when the Bitcoin price is nearing its peak. This progress chart is barely halfway gone, but the Bitcoin price is seeing major crashes, so what’s going on? Bull Market Peak Indicators Remain Untriggered A total of 30 Bitcoin bull market peak indicators are being tracked on the Coinglass website, and....
Bitcoin dominance patterns are showing similar lows and an eerie resemblance to 2017. So what does this suggest for BTC price? For the purposes of historical comparison, it’s also worth noting that the pattern of the dominance chart currently looks much like it did during the earlier part of 2017.As the markets have gone into meltdown since May 12, Bitcoin (BTC) dominance has fluctuated dramatically, bucking 2021’s prevailing trend. Before the sell-off started in earnest, BTC dominance had been falling pretty steadily from around 70% in January to a low of under 40% by the time the crash....