Bitcoin Price Update
Bitcoin is up about 0.88% from the previous day, putting its price at $9,405.79 US dollars at the time of this writing. This is the 2nd consecutive day that Bitcoin has moved up, but the coin’s trend over the past two weeks is unclear. It is currently 7.19% above its 20-day moving average of $8,774.644, which is somewhat close; a fall down to the 20-day moving average may draw dip buyers in. On the flip side, for those who prefer a rangebound view when trading, Bitcoin’s trading range — based on its momentum and volatility over the past two weeks — is between $7,363.15 and $10,186.13 (in US dollars). Its market capitalization currently is estimated to be around $166.86 billion US dollars, while it’s market dominance (percent of total crypto market) is estimated to be 66.42%. As for the recent behaviour, Bitcoin’s dominance level hasn’t exhibited a clear trend — but has fluctuated between 65.36% and 68.13%. Without a clear trend in dominance, the jury is still up for grabs as to whether or not Bitcoin will be the only cryptocurrency that succeeds.
Daily Engagement and Hash Rate Metrics Update
314,698 transactions were added to the Bitcoin blockchain in the previous day. Daily transactions recorded on the Bitcoin blockchain grown by approximately 0.99% this past week, though it should be noted the trend is not clear at this time. Ultimately, if the currency does consistently succeed in growing transactions on its chain, its primary utility may be as a currency for transactions. As for Bitcoin’s transaction fees,