Dear Steemians,
What a day! Another milestone today. The total market cap of all cryptos passed the 800billion mark. Amazing!
WIth Bitcoin dominance gaining 3% (33% on thursday vs 36% today) the market cap is again close to 300billion.
A lot of profit taking took place the last 24 hours and I guess a lot of money floinvested back in BTC, BTC ETH en LTC.
LTC is the major winner out of the top 10 coins today.
Special attention for BC (Binance Coin). This coin is just on fire! It was $8 last week and just hit $22.
BC performance over the last week
Binance is a digital exchange, based in China. Due to extreme demand of new users Binance temporarly halted new account opening requests. This is a trend these days. eg: Bitfinex, Bittrex.
Bewlow an overview of the top 10 cryptos as of today. Notice the green over the last past 7 days. I think it is a matter of time that we will surpass the 1 trillion barrier. When do you think that this will occur. Crypto is here to stay. Venezuela announced it will issue a new coin backed by metals and oil. Inflation in VZ is sky high. WIth record government debts more countries are under risk.
Back to the number one Bitcoin.
Below the 4 hour chart.
We broke above $15.600 and preparing to test the all time high. We need to consolidate further in order to have a higher succesful rate. If we drop below $12.200 the trend looks to turn around. So far the chart is setting up smoothly.
We will also surpass 80% of issued coins later this month. This could cause a pshycological effect. Not so much as halving that is expected in May 2020, but it could drive prices up further.
On last thing that I want to point out is the overall Bitcoin distribution. Holders with 1-10 BTC is rising. This should have a positive effect for further adoption. Even with the major scaling problems and splits, Bitcoin seems to be stronger than ever and it acts like a store of value.
Pls leave a comment if you like my content.
Have a great weekend and until the next update.
makeithappen