The next massive crypto bull run seems to have returned. The price of Bitcoin (BTC) is on a breakout after struggling around the $3k level earlier this year. Bitcoin (BTC) is currently experiencing major gains at the moment. This time, the digital currency is doing it alone. Over the past weeks, Bitcoin (BTC) has been carrying the altcoin market along. When Bitcoin price rose over the $10k level, almost all the altcoins in the market followed suit. Most altcoins tested new yearly highs while some were even testing new all-time highs.
Bitcoin (BTC) Dominance Hits All-Time High, 62% – Cryptocurrency Market Update – Bitcoin News Today
While the price of Bitcoin (BTC) is on the rise, the dominance of the digital currency is also on the breakout. Since the last Bitcoin bull run in January last year, the dominance level of Bitcoin (BTC) has been falling, and it fell to a record low of 33 percent. However, Bitcoin dominance has been rising since the beginning of this year. Over the past months, Bitcoin dominance has been around the 55 percent level, even though it dropped to around 50 percent some months ago.
At the press time, the dominance of Bitcoin (BTC) has risen to more than 60 percent. According to CoinMarketCap, Bitcoin dominance is currently at 62 percent. The dominance level of Bitcoin is increasing because more digital asset investors are acquiring more of Bitcoin (BTC) than other digital currencies. This means Bitcoin (BTC) contributes 62 percent of the valuation of the entire cryptocurrency market. The last time Bitcoin dominance got close to this level was in January last year. This is the first time Bitcoin dominance is breaking through the 60 percent level. Bitcoin is experiencing such a significant increase in dominance level because it is currently on another price rally, leaving altcoins behind.
Bitcoin News Today: Bitcoin Heads for the $13,000 Leaving the Altcoins Behind – Bitcoin Price Prediction 2019
Over the past few hours, the price of Bitcoin (BTC) has been on a continuous rise. Bitcoin price recently corrected below the $11k mark. The price of BTC fell and traded close to the $10,400 mark. The $10,300 mark prevented further losses and push the BTC USD price higher. This Bitcoin price rally started yesterday. The digital currency broke over the $11k mark for the fourth time. It didn’t stop there, the price of BTC continued rising and broke over the $12k level. At the press time, BTC USD price is just $300 away from hitting the $13,000 level.
Bitcoin seems to be the only digital currency experiencing such a massive gain at the press time. Some of the top altcoins in the market are in the green but with just a slight change in price over the past twenty-four hours. The price of XRP (XRP) is currently hovering around the 47 cents mark, after an increase of just 1.5 percent over the past twenty-four hours. Ethereum is the only altcoin among the top ten that is slightly competing with gains amassed by Bitcoin (BTC). Ethereum (ETH) is currently trading at $331 after an increase of about 5 percent over the past day.
Bitcoin (BTC) Price Today – BTC / USD
At the press time, BTC USD live price is $12,785 after an increase of more than 14 percent over the past twenty-four hours. The current market cap of Bitcoin (BTC) is $223.68 billion. The trading volume of the digital currency over the past twenty-four hours is $30.60 billion.