Yesterday(2/12 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $48081, its lowest as $46234, its highest as $49180 its closing as $47481. As soon as Bitcoin started Friday, it reached a new ATH with a large buy volume, then adjusted for the next 6 hours, falling below $47,000, rising and falling again, reaching a low at 13:15 and rebounding to close -1.25% down.
In the current cryptocurrency market, altcoins are showing such a big bullish market, with certain coin rising by +50% per day. Thanks to this situation, Bitcoin dominance fell to 60.6 which fell after breaking the 61.1 on 2/5 and is expected to rebound soon. Once bitcoin dominance starts to rise, it is highly likely that altcoins' investors will realize their profits as bitcoins decline significantly rather than rise.
In the financial market, expectations of strong fiscal stimulus measures from the US government and the proliferation of vaccines are overflowing with expectations that the economy will revive. With the US dollar index supporting above 90, US bond yields are rising sharply, and commodity and grain prices are also rising sharply. Accordingly, the US stock market is also updating historical ATH every day. FED Chairman Powell said he would not ease current policy over the market because the unemployment rate has not yet been normal.
This situation is creating a super cryptocurrency bull market, with large institutions increasing their investments in Grayscale funds day after day, enabling cryptocurrency to be used in real life like Paypal, Visa&Mastacard, and allowing large companies to put bitcoin as an asset on their balance sheets.
Can we expect 100k in the second quarter through 50k which will come soon?