Bitcoin Now Commands a $52 Billion Market Capitalization !

The last seven days was an interesting, and a very unusual week for Bitcoin investors and enthusiasts. On 1 August, Bitakayen Blockchain split into two branches and formed another network and Bitakken Cash (Beach) was given a token. At this time some Bitcoiners thought that the hard spines were later reduced to the price. However, the price was not at risk because the BTC price was ordered to reduce US $ 2,700.

In three days, on August 3, Bitcoin Bells began to break the resistance barrier of $ 2800. After this point, history was created as August 5th, the continuation of higher and higher prices of Betkinina. Bitcoin is worth $ 3 to the lowest level of $ 340 across the global exchange. The currency is replacing BTC's trade volume of BTC 1 billion, and is collecting market capitalization of $ 52.6 billion during writing. Bitcoin's dominance was above fifty percent before the Bike came to the market, but now it is below 47 percent of the 3200 US dollars.

Technical indicators
Last week many businessmen believed that due to the structure of the head and shoulders, the barbed wire has already been a downtred. However, Bitcoin surprised this businessman because the coins were higher and many more futures traders, who set up 'short' positions before the fork burned. During the press time of 100 Siemens Moving Average (SMA) long time 200 SMA should continue to indicate the bullish momentum should continue. In the short run, we will see some value consolidation before going a bit more. Stochastic and Relative Strength Index (RSI) both show that there may be some price shortage for today's trading entries. The 24-hour chart shows that there should be some price action in the $ 2300 range because it is a key prevention point. In addition, the cost of the wall wall of the reaction is $ 3500 on the level of MT Everest.

Top ten cryptocurantes Markets
Since Bitcoin has crossed the $ 3K pricing area, Bitcoin has got cash without cash in almost every cryptoutera market. The new Bitcoin cash market battles for the first few days and exceeds the minimum of 200 dollars for the beach. However, after press briefing and some merger, the fourth highest-priced Bitcoin was rebounded in the cash market, and the token value is currently examined at $ 250. The second most valuable cryptocurrency market, held by Ethereum, is also doing very well, after a ETH jump above $ 200s is $ 260 jump.

Litecoin is an LTC $ 45 down to nearly three percent of the fifth highest valued market. The rest of the top ten markets are doing well this week with NEM ($ 0.25), Atram Classic ($ 15), Das ($ 188), IOTA ($ 0.42), and Neuko 14 $ per token in the competition.

Judgment
Currently, Bitcoin Chart shows that there is some profit now and some healthy merge is being done. High price and new all-time high is possible as a week, and the short word chart looks bullish yet. However, when the price of Bitcoin (BTC) goes south, Bitcoin seems to be interested in cash (Beach) markets, because many satellites believe the opposite day has been the opposite effect. It's too early to say whether these two markets have a relation with each other over the short and long-term.

Bear Scenario: There are some heavy resistance to $ 3300 at the time of writing. If the vendors move Bitcoin prices downwards, then a drop of $ 3-3100 can easily decrease. Additionally, even if bulls may be in a dive card under $ 3K zones start to show fatigue. Some bulls already show signs of moving away from the sidelines to catch some scalps and breaks. Those looking for some unexpected profit watch for regular bottom and RSI moving towards the south.

Bull Tables: Some resistance points will be seen between $ 3300- $ 3500 region If Bull could strengthen the breaking capacity of this area, then we could see some smooth sailing around the $ 4K range, the full extension scaling up to $ 4K for the Fibonacci extension as a $ 3800-4000 span prediction possible. Press time seems to be forming a flag pattern, which means that we can see more movement after the combination of renewable energy and consolidation.

How do you envision ahead of Bitcoin's price movement? Let us know the comments below.

Disclaimer: Bitcoin price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Bitcoin.com or the author is not responsible for any loss or profit, the final decision on the business of the reader is made by the reader. Always remember that the "money" control is the only possession of the private keys.