Bitcoin(BTC) Jumped Over the Moon, Seeks to Hold Above the $9,000 Level
Cryptovest
Published Apr 24, 2018 06:34AM ET
Updated Apr 24, 2018 07:01AM ET
Bitcoin(BTC) Jumped Over the Moon, Seeks to Hold Above the $9,000 Level
Bitcoin (BTC) seemed to stagnate, but then showed its potential for rapid upward moves. BTC jumped from the $8,900 range to above $9,100 within minutes, continuing with a more gradual climb to $9.216.31.
!Bitcoin!
However, this time, Bitcoin’s position is not as dominant, allowing altcoins and tokens to appreciate against the leading asset. Bitcoin’s dominance in terms of market capitalization also fell rapidly, to as low as 37.2%, as altcoins also made fast moves to recover from the recent lows.
https://twitter.com/satoshi_guru/status/988606197010976768
However, Bitcoin managed to avoid the scenario where a dip to $5,000 was expected, possibly with a long-term “ice age” of sideways drifting. Some see BTC easily moving up to $10,000, as in the past days of $1,000 growth in price were not unusual.
More curiously, BTC trading as a share of all deals has fallen toward 30%. The share of Japanese yen trading is still the highest, above 57%. USDT trading is nearly 15% of all Bitcoin deals, and direct trading against the USD takes up 20% of the market. Those ratios usually fluctuate and mark a change in trends.
But as prices heat up, the usual clash with the Bitcoin Cash community is heating up even more. BCH received a boost a few days ago from trader Brian Kelly on CNBC, who said it was a good time to invest in the smaller BTC fork. After that, BCH appreciated by more than 84% on a weekly basis, becoming the top performer among other prominent assets.
https://twitter.com/Crypto_goat_/status/988591812435734529
On the other side, some Bitcoin proponents suggested on social media that the Bitcoin.com site, dedicated to Bitcoin Cash, was to be reported and taken down.
Now, BTC has to prove it can hold onto the $9,000 levels. As the day progressed, the price strength was preserved. Asian trading seems to push prices up, and buying orders are noticeably higher, possibly lifting BTC to a higher range.
This article appeared first on Cryptovest
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