Bitcoin continues to dominate the crypto markets and seems to be targeting the 50 percent market dominance brand. While the Bitcoin price remained in the green at the editorial deadline, other Altcoins experienced a new descent. Among the top 10 cryptocurrencies, Ripple XRP, Stellar and IOTA were the biggest losers.
Bitcoin market dominance again over 40 percent
According to data on CoinMarketCap, Bitcoin now has a market dominance of 45 percent in the crypto markets. The last time Bitcoin had such a state in early April 2018. In addition, Bitcoin had a market capitalization of $ 127.8 billion at the time of going to press. Bitcoin trading volume over the previous 24 hours was worth $ 5 billion.
Bitcoin's price is steadily over $ 7,300. Experts believe that the price could reach $ 8,000 and $ 9,000 at the current rally. The general opinion is that it is only a temporary “squeeze”. The pessimists assume that a significant price reset is imminent. Some predict that Bitcoin could approach a new year low for 2018 as part of the next price decline.
Well-known Bitcoin advocate John McAfee told Twitter this week that he did not know if this was the new bull market. But if Bitcoin goes that way ten times in a row, he's ready to think about it. But he also pointed out that he still believes that the bull market is safe. McAfee also had a comparison ready in his well-known language. So he said that the onset of the volcano Krakatau will look like the burp of a little urchin towards the upcoming bull market.
Altcoin courses give after
While Bitcoin kept its course, the Altcoins gave way. Many of the Altcoins ran the risk of losing the recent gains. Such a drastic divergence in the courses of Bitcoin and Altcoins is usually rare.
Ripple, Stellar and IOTA had the highest losses among the ten largest cryptocurrencies. Ripple and IOTA each fell 5 percent. Stellar had even dropped more than 6 percent. Ripples XRP has had significant problems in 2018 so far. Thus, the cryptocurrency failed to maintain the support level of $ 0.50 it had achieved in the rally.
Other large coins, such as NEO, BNB and ICON ICX, also suffered price drops during the 24 hours prior to the editorial deadline. NEO had yielded nearly 7 percent, Coinbase BNB 5 percent, and ICON ICX as much as 11 percent.
The current slippage is probably due to a technical correction. This followed the price increase on 18 July. However, the large trading volumes point to a rather sustained price rally. This should last for more than a few days.
Sources: CoinMarketCap, CNBC, Twitter, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-marktdominanz-derzeit-bei-45-prozent-altcoin-kurse-geben-nach/
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