How Did Bitcoin’s Price Fare Yesterday?
Bitcoin is up about 2.17% from the previous day, putting its price at $9,421.54 US dollars at the time of this writing. Yesterday’s up day is a reversal of the day before it. In terms of trend, though, note that the current price is now 8.82% above its 20-day moving average, and is currently in an uptrend over the past 14 days. 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 $7,101.71 USD and an upper boundary at $10,214.25 USD. In terms of its overall importance in the cryptocurrency market, Bitcoin’s current market capitalization is $166.33 billion US dollars, which is about 66.83% of the market capitalization of all cryptocurrencies. Bitcoin’s dominance level has been without a clear trend over the past two weeks, fluctuating between 65.36% and 68.13%. As its dominance level doesn’t have a clear direction at the moment, one could argue it isn’t clear yet whether altcoins will survive — or if Bitcoin will capture the entire market and the vast majority of use cases for cryptocurrencies.
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