Btc usd has failed to break above 11 500 again as dominance index drops to 60 4 bitcoin news bitcoin looks set to linger around 11 000 before seeing further upside movement despite testing price levels near a major resistance area of 11 500 bitcoin has seen its overall market dominance fall in the past 48 hours. Since it is the largest cryptocurrency by market cap bitcoin dominance is a useful metric that shows us if confidence in more speculative altcoins is growing or falling. The bitcoin dominance metric shows how much of the total cryptocurrency market cap is represented by bitcoin.
Total market cap stands at around 345 billion with bitcoin s 208 9 billion accounting for 60 4 of total cryptocurrency capitalisation. Despite testing price levels near a major resistance area of 11 500 bitcoin has seen its overall market dominance fall in the past 48 hours. Cryptocurrency combined market cap charts bitcoin dominance charts and more.
Why does bitcoin dominance exclude stablecoins. Even if the ico intends to be money it cannot offer any improvement over the current fiat system of centralized banking and money printing. Bitcoin dominance excludes icos because they are each controlled and issued by a centralized entity and so therefore cannot act as hard money.
If we take a look on btc d daily chart we can see a sideways consolidation for almost a year which usually suggests a corrective movement. We will also show you how it can be useful in analyzing xxx btc cross pairs with the help of ew. Today we will talk about bitcoin dominance and its wave structure from elliott wave perspective.
