Bitcoin Dominance Is On the Rise: What Do Indicators Indicate on Behalf of the Market?

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October Dec., which decreased from 47% to 39.90% by December Bitcoin his dominance is back on the rise. As for the market capitalization of the leading crypto currency Bitcoin, it has not yet reached more than $ 1 trillion.

Bitcoin Dominance Is Recovering

December October Bitcoin dominance, which approached the 50%, declined to 39.8% by December and came close to the 39.50% support area. However, Bitcoin dominance gained an upward momentum from 39.8% levels and rose to 41.76% levels. Many cryptocurrency analysts BTC if the rise in its dominance continues, he said, a reaction may come from the resistance zone at the level of 44%.

Noting that the dominance in Bitcoin has recovered, analysts said that the MACD and RSI are moving upwards, so the technical outlook signals an uptrend.

Bitcoin’s Market Capitalization Is Below $1 Trillion

Along with the depreciation of Bitcoin in recent months, the crypto currency market has experienced high-rate declines. Cryptocurrencies with high market capitalization, such as Ethereum, Binance Coin, Solana, have fallen far behind ATH levels. In this regard, the total market capitalization of the crypto currency ecosystem has also decreased to the level of $ 2.3 trillion.

Along with these depreciation losses recorded in recent months, Bitcoin’s market capitalization of more than $ 1 trillion has declined to $ 917 billion according to current data from CoinGecko.

The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.

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