Bitcoin: USD/BTC (BTC=X) fails to break through to $10,800 while the altcoin markets see red

Bitcoin: USD/BTC (BTC=X) fails to break through to $10,800 while the altcoin markets see red

After circling around the $10,600 support for most of yesterday, Bitcoin’s price spiked to above $10,700 but failed to breakthrough to $10,800.

Bitcoin’s (BTC) price failed to break through the $10,800 area, resulting in the OG cryptocurrency plunging back below the $10,700 area while most of the major altcoin markets saw losses.

Bitcoin price fails to breakthrough to $10,800

Yesterday saw bitcoin hold on to a key support price area just above $10,600. At one stage the world’s number one crypto saw an intraday high of $10,761 with many analysts calling for a breakthrough to the $10,800 price point. However, BTC failed to break through to the next support and as a result, Bitcoin’s price endured a downward correction to below $10,600.

At the time of writing, BTC is however up by a modest 0.56% and changing hands at $10,651.16 as per data from CoinMarketCap.

Despite this lackluster daily performance, Bitcoin’s price is up by more than 10% over the past week. According to several analysts, Bitcoin has entered its next bull run.

Moreover, Bitcoin’s market dominance has continued to impress as it broke the 71% rate of the market share late yesterday. At the time of press, Bitcoin’s dominance is sitting at an astounding 71.5% of the market share as per data from CoinMarketCap.

Altcoin markets waning again

Ethereum (ETH) the world’s number two cryptocurrency by market cap endured yet another modest loss, dropping by 0.46% and trading at $174.94. Ripple’s XRP, the number three cryptocurrency has also seen a modest loss of 1.07%, exchanging hands at $0.256487 per coin.

Bitcoin Cash (BCH) is also down by a tepid 0.36% and trading at $293.71, Litecoin (LTC) continues to dwindle, dropping by 1.38% and selling for $66.33 at the time of writing, while Tether is down by 0.37% and trading at $0.998531.

The only two top ten cryptocurrencies which are flashing green today besides Bitcoin are Binance Coin (BNB) which after several days of minor losses is recording a 2% gain and trading at $22.31.

The only other altcoin which is flashing green today is Monero (XMR) which is up by 2.70% and being bought for $76.85 per coin.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH