Bitcoin Ending The Year At $13,000, But With A Dominance Of Only 38%
At the moment of writing, Bitcoin was trading, on average, at $13.064, with a max of $17,314 on Bithumb, the South Korean exchange that drove the price higher over the last few weeks.
If we look at what happened since December 22nd, we may probably identify a pattern known as "head and shoulders".
Statistically, this pattern is considered bearish, so probably the downside trend will continue. In which case, the next support line may be around $10,000. If Bitcoin breaks up, though (which may also happen), it may as well go above $15,000.
The interesting thing, though, is that Bitcoin dominance is only 38%, but more on that in the next post.
Disclaimer: I'm not a trader and this is not trading advice.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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It has come a long way , 2018 might be its year just like 2017
True, Bitcoin may touch $10,000 for short time but we can clearly see the real support between $12,000 to $16,000.
People keep saying that BTC will recover. But it isn't showing us that in the charts.
It will climb back up after Christmas
Well, Christmas is over and it's still in a downtrend.
Bitcoin will recover but no one knows when
I'm just curious... How can you see that crearly...whats your trick?
Great for altcoins. However, I wonder when STEEM will be in three Big Brother exchanges: Bithumb, Bitfinex, Binance?
If they don't sort out this transaction fee nightmare then I expect bitcoin to keep falling in relation to the alt coins.
I expect that Bitcoin will lose even more position in front of altcoins in future.
unless it can scale
Well, right now it can't and compared to coins like Steem, it can't do that much, but who knows what it is going to happen in the near future :)
No one expected ripple to go to number 2 so you never know bitcoin might just make a come back in 2018
I can not disagree with you, Bitcoin has chances to come back in 2018. This is for sure not the end of it. :)
Why it is going on
bitcoin is not scaling
Maybe my patience wait for a bitcoin at a discounted price will finally be worth it :)
its working! BItcoin is at 13k
fingers crossed lets see what adventure bitcoin has got in 2018 :D
I think it will hit just below $12,000 and then rebound fiercely right after January begins.
I think we started the year with a 80% market cap dominance and now we're ending it with a 38% market cap. It's good to see that there is a new top 10 list of cryptocurrencies by market cap when compared to the beginning of the year. I would love to see a lot of movement in that list next year. Maybe some coin could temporarily dethrone BTC.