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Bitcoin [BTC] Dominance Drop to 52% Will Maintain the Bullish Move for Altcoins: Analyst

Bitcoin has been on a very strong ascent in the last week with a seeming determination to hit $9,000 shortly. However, it stagnated in the last 24 hours and has severally dipped below $8,000. It is currently trading at $7,910 with a loss of -1.06 in the last 24 hours. Analysts say these dips are responsible for the rise in the altcoin market. A major cryptocurrency analyst Josh Rager has added another projection that Bitcoin dominance dipping to 52% would further strengthen the altcoin bullish move.

Altcoins coming up at last

Bitcoin Dominance from TradingView

Since April when the cryptocurrency market started recovering from the 2018 bear market, Bitcoin started coming up together with the top altcoins. However, along the way when Bitcoin broke though the $6,000 resistance, the alts started slowing down and have not been able to catch up until it hit $8,000 recently. Another cryptocurrency trader known as Scarface on Twitter had earlier said a Bitcoin price correction would give…

Read Full Story : Coingape

2019-05-16 13:45:08

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