Crypto News

Bitcoin increases market share

After a rather dull trading below $ 9,000 at the beginning of the day Bitcoin has made a breakthrough, not only to overcome the resistance level 9 $ 200, but reached the level 9 of $ 300.

f-7-may-1.jpg
Source: CoinMarketCap

Maintaining the support of 50-day and 20-day moving averages, Bitcoin continues to hold at a level close to 9 $ 300.

The Bitcoin set for a bullish crossover after the 9th $ 200, and RSI is in the overbought zone at the level of 75,20, as trading volume jumps change of dynamics.

The current movement of the main cryptocurrency pulled oldoini, and the market is trading in the green zone.

It is worth noting that Bitcoin is not only steadily recovering from the collapse in mid-March, but also to increase market share. The dominance of Bitcoin is more than 66 percent, the highest level since January 2020.

This means that oldoini, despite the rise in prices against the US dollar, they are unable to compete on the level of recognition and trust of users with Bitcoin.

f-7-may-1.jpg

Source: cryptopotato.com and Coin360.com

As can be seen from the graph above, the cost of all major alithinou in BTC has dropped. Ethereum fell nearly 4 percent, XRP 12 percent, and cryptocurrency EOS has lost 20 percent of its value in Bitcoin.

This suggests that entrants into the cryptocurrency market funds are redistributed in favor of Bitcoin that makes investors more confidence.

Source:

cryptofound.com

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