Tag: Analysis

Bitcoin could consolidate for a few more days as the action shifts to Ether, XRP, and other large-cap altcoins. Bitcoin (BTC) has been leading the current crypto rally for the past few weeks and this has boosted its dominance from 56% on Sep. 3 to 67% on Nov. 18. However, as Bitcoin nears its all-time high, it seems to be losing momentum as the action shifts to the altcoins. This has pulled Bitcoin’s dominance down to about 62.3%.  No long-term bull market can be led by one leader alone. There…

Bitcoin price is back on the path to a new all-time high and it seems altcoins intend to follow suit. Bitcoin’s (BTC) current rally has largely been led by investments from institutional investors and public listed companies. Data from Bitcointreasuries shows that companies hold about 4.54% of the current Bitcoin supply. A survey of 700 high-net-worth individuals chosen from across the globe shows that about 73% of respondents either own or want to own cryptocurrencies before the end of 2022. The proposed influx of money from large investors could boost…

Bitcoin price looks ready to consolidate after reaching a new 2020 high and altcoins may attempt to recover from their sharp losses. Within the last 24-hours, Bitcoin (BTC) price hit an intraday high of $18,466.14 and this is just roughly 8% lower than the magical $20,000 figure being watched by many traders.  However, investors in several countries such as Russia, Argentina, Brazil, and Mexico have already seen their Bitcoin holdings hit a new all-time high in their local currency. Even Bitcoin’s market capitalization has hit a new record high, topping…