Bullish Dominance Keeps Pushing The Market Up

Hello, dear community!

This week was a really good time in the world of cryptocurrency. Bitcoin reached its new 13 month high. It is now trading at more than $9,500. It faces resistance at a $9,600 level. In case of successful breaching of this level, Bitcoin is likely to surge past $10,000. And this is expected to happen in the next few days or even hours. Total market capitalisation is now more than $300,000,000,000.

Out of most popular cryptocurrencies, Bitcoin is also the closest to its all time high in percentage. It is now 50% down from its peak price. In comparison, Ethereum is 80% down from ATH.

Most altcoins added very little to their value. Even though the market looks green, the increase is close to 1% on average. And some coins even fell back. When looking at the BTC value of altcoins, we can see that most of them could not keep up with the pace of Bitcoin.

The dominance of Bitcoin on the market also increased to 58%, which is another evidence of its advantage before other coins and people’s belief in its future growth.

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