How Did Bitcoin’s Price Fare Yesterday?
At the time of this writing, Bitcoin’s price is $10,558.69 US dollars, up approximately 0.64% from the day prior. The past 24 hours mark a reversal in price from the day prior. It should be noted, though, that price is still in an uptrend, and is currently 3.95% above its 20-day moving average; staying above this level may be critical to sustaining short-term momentum. On the other hand, if you are a rangebound trader seeking a range for Bitcoin to bounce between, you might find a lower boundary at $9,251.15 USD and an upper boundary at $11,064.06 USD. Its market capitalization currently is estimated to be around $181.83 billion US dollars, while it’s market dominance (percent of total crypto market) is estimated to be 69.56%. It may be worth paying attention to the trend in Bitcoin’s dominance; the currency’s dominance has been going up slightly, as it has reported an average daily gain of 0.23% the past two weeks. A gain in dominance may suggest the case for altcoins is getting weaker, and thus participants of all kinds — investors, merchants, application developers — may flock to Bitcoin in increasing numbers.
Update on Transactions and Hash Rate
288,507 transactions were recorded on the Bitcoin blockchain yesterday. The trend in daily transactions is not clear, though it should be noted that transactions have risen by about 1.49% over the past week. If Bitcoin does repeatedly grow transactions, it may need to derive its value as a way to acquire goods or services. In terms of transaction fees,