Forex and Crypto News

Bitcoin is getting stronger, Altcoins are following him

09:50 04 July /2019

The Bitcoin rate continues to strengthen, and the altcoins are starting to follow the leader. At the time of the publication the pair BTC/USD is trading at $11,675, Bitcoin’s market capitalization exceeds $209 billion.

During 2 days the coin was able not only to strengthen its position, but today the BTC/USD pair has also overcome the psychological mark of $ 11,500. Today, the growth of BTC has become more moderate, the cryptocurrency continues to maintain the positions and can overcome the $12,000 mark in a few hours.

If yesterday, the largest altcoins, by contrast, weakened, today they start to strengthen. Today the TOP-10 cryptocurrencies chart is the following:

top-10-chart-4-July.jpg

Ethereum, which dropped to $276, began o strengthen from yesterday and now the pair ETH/USD is trading at $295. It still can’t overcome the $300 mark.

XRP continues to demonstrate the downtrend. The cryptocurrency descended below $40.

The fourth and fifth largest cryptocurrency Litecoin and Bitcoin Cash reached to $124.7 and $ 418.6, respectively.

The market capitalization of the crypto market rose to $333.626 billion, while the Bitcoin dominance index continued to grow, approaching close to 62.8%.

In his Twitter, analyst Josh Rager wrote that BTC dominance above 70% has not been observed since July 2017. But if the coin grows in the conditions of falling investor interest in other assets, we will be able to return to this indicator in the near future.

josh-rager.jpg

The trader Squeezy believes that Bitcoin has every chance of repeating an explosive rally of 2017. The coin will reach $20,000 or even show more impressive growth, and ETH will continue to fall to a new minimum.

squeezy.jpg

Tom Lee, one of the most famous Bitcoin supporters, timed the current BTC price hike on US Independence Day, which is celebrated in the country on July 4th.

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