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Bitcoin Dominance Is About to Hit 70 Percent

  • Alex Dovbnya
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    Bitcoin now has a market dominance of 69.1 percent, the highest since March 2017

Bitcoin Dominance Is About to Hit 70 Percent
Cover image via 123rf.com

The BTC price once again failed to move the needle, sitting just below $12,000 at press time. While there is a lot of uncertainty in the air, Bitcoin maximalists definitely have something to celebrate — the crypto king’s dominance is on the verge of reaching 70 percent. On Aug. 6, Bitcoin also reached a new ATH of nearly 80 EH/s

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Meanwhile, the dominance of Ethereum, the biggest altcoin on the block, has dipped below 8 percent, its lowest level since March 2017. With the fizzling hype around ICOs, ETH will find it hard to bring back its glorious days. Back in June 2018, it came close to flipping Bitcoin, occupying nearly a third of the cryptocurrency market.

Going back to Bitcoin, according to cryptocurrency trader Josh Rager, it might score its highest weekly close if the bulls persist.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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