Bitcoin price races past $12,000 as Ethereum, XRP, and Litecoin pairs get decimated

2019-6-26 06:56

Bitcoin’s meteoric rally continues as the price nears $12,000. Meanwhile, altcoin/BTC pairs—including Ethereum, XRP, and Litecoin—are getting decimated as funds flow into the predominant cryptocurrency.

Bitcoin’s rally continues to accelerate

Bitcoin is once again on a tear. After breaking $10,000 just four days ago, the coin is now nearing the $12,000 price level. Reported 24-hour volume is at robust $26 billion compared to the 7-day average trading volume of $20 billion.

 

BTC/USD chart by TradingView

The last time BTC traded at $12,000 was at the end of January of 2018, shortly after the market started to decline from its peak. The year-long bear market followed as prices plummeted.

BTC/USD chart by TradingView Current state of the market

Currently, Bitcoin dominance, the percentage of overall market capitalization attributed to BTC, is climbing towards its previous two-year high.

During the previous bull market, BTC dominance reached a high of 69.46 percent in December of 2017. It then dropped sharply the following month, falling to 35.11 percent as altcoins underwent their historic eye-popping rally.

BTC Dominance chart by TradingView

As a function of growing dominance, altcoins are depreciating relative BTC, with most major altcoins experiencing single-digit losses in the last 24-hours.

Coinbase Pro BTC Pairs

Of the top 10 altcoins, Ethereum lost the least value relative to Bitcoin with the pair only losing 5.0 percent of its value.

Bitcoin outperforms altcoins

As a function of growing BTC dominance, Bitcoin has outperformed nearly all altcoins since the beginning of the year.

Over the last six months, the only top 10 coin to outperform Bitcoin has been Litecoin—which appears to largely be driven by the upcoming halving—with gains of 340.5 percent compared to BTC’s 219.9 percent.

Top 20 coins by Cryptowatch

Of the top 20 altcoins, Ontology and NEO have also outperformed Bitcoin over the last six months, with gains of 455.2 and 252.0 percent, respectively.

Altcoin season on the horizon?

Historically, altcoins do not peak until Bitcoin finishes its rally. During the 2017 bull market, the altcoins more closely correlated with BTC—Litecoin and Bitcoin Cash—peaked in December shortly after Bitcoin. Ethereum and XRP followed in January.

Relative coin prices are directly linked to dominance. Chart by CoinMarketCap

From Dec. 1 to their peak, Litecoin went from $82.7 to $368.7—an increase of 346 percent. Bitcoin Cash saw a similar rally, going from $1,254 to $3,992—gains of 218 percent.

For coins that peaked in January, Ethereum went from $425 to $1,417—an increase of 233 percent. Finally, XRP’s range was the most impressive, going from $0.224 to $3.29 for gains of 1,369 percent.

Although many professional crypto traders doubt the resurgence of “alt season” during this bull market, others are converting their Bitcoin positions into altcoins in anticipation of another round of outsized gains.

The post Bitcoin price races past $12,000 as Ethereum, XRP, and Litecoin pairs get decimated appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3382.25 (-0.13%)
Объем 24H $25.881b
Изменеия 24h: -0.61 %, 7d: -13.01 %
Cегодня L: $3297.22 - H: $3393.89
Капитализация $407.41b Rank 2
Цена в час новости $ 335.2 (909.02%)

bitcoin price pairs decimated litecoin ethereum xrp

Источник: cryptoslate.com

bitcoin price → Результатов: 126


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Bitcoin Price Alert: Expert Warns Of Upcoming 25% Drop, Timing And Trends Explained

After reaching a new all-time high of $99,600 last Friday, the Bitcoin price has retraced to the $94,000 mark for the first time in nearly a week. This pullback comes amid growing speculation about a possible correction following a massive three-week uptrend that saw the leading crypto surge by 40% after Donald Trump’s election on November 5.

2024-11-26 10:30


Фото:

Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder

The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin Jesse Myers said Bitcoin’s price needs to go higher for a “supply-demand price” balance to happen When that occurs, the market will “flywheel into mania and a bubble,” which happened in the 2012, 2016, and 2020 […] The post Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder appeared first on CoinJournal.

2024-11-13 17:39


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin recovers $100k price level as expectations of Fed rate cut rise

Bitcoin (BTC) briefly surpassed the $101,000 threshold after a 3% surge in the hours following November’s Consumer Price Index (CPI) numbers, which came within the 2.7% expectations. The rally has fueled investor confidence, with a 98% probability now assigned to a 25 basis point rate cut by the Federal Reserve next week, potentially bringing the US […] The post Bitcoin recovers $100k price level as expectations of Fed rate cut rise appeared first on CryptoSlate.