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Bitcoin Dominance Surges to 70 Percent as Peter Brandt Berates "Altcoin Junkies"

  • Alex Dovbnya
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    Bitcoin continues to annihilate top altcoins with its price surpassing the $10,400 mark

Bitcoin Dominance Surges to 70 Percent as Peter Brandt Berates "Altcoin Junkies"
Cover image via www.freepik.com

According to CoinMarketCap data, Bitcoin’s dominance has finally surged above 70 percent, its highest point in 2019. Considering that Bakkt is expected to roll out its physically-settled Bitcoin futures in September, crypto trader Josh Rager predicts that BTC’s market share will not drop anytime soon.

    Over the last 24 hours, the BTC price has skyrocketed by more than six percent, as predicted by trading expert Luke Martin. However, the lion’s share of altcoins failed to follow suit.

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For instance, XRP has only increased by a modest two percent on the heels of accusations that Ripple Labs might be suppressing its price growth.  

In the meantime, trading veteran Peter Brandt has reminded his followers that he’s a staunch Bitcoin maximalist. He believes that the cryptocurrency that started it all is the only coin with real and lasting value.

As reported by U.Today, Brandt assumed that Bitcoin could have already entered its fourth parabolic phase.

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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
    📰 News

    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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