Published 23 Jul by CryptoDiffer Team
Highlights on Suppoman
"Why Bitcoin is SOARING AHEAD of the Alt Coins Right Now"
Today, let's talk about why the BTC is growing, breaking away from the altcoins and how it can potentially overcome the resistance holding its growth since January this year.
The total capitalization of the market today is $286 billion. The Bitcoin domination continues to grow and already exceeds 46%, this is evident at the prices, the BTC continues to grow, while the altcoins either become stagnant or are in a drawdown.
Let's pay attention to Elliott waves on the current Bitcoin chart.
If you look at the first wave of growth, you can see how the price has sharply and greatly increased over the 21-day moving average by ~ $ 6,400, which is a good signal for opening a long position. Then we saw the second, third and fourth waves. After that, this morning the price again began to grow seriously and reached $ 7,779, thereby overcoming the January resistance level. The fifth wave should raise the price of BTC above $ 8,000, which may serve as another bullish flag for further growth.
In my opinion, we can see the rally to $ 8,000 - 8,500. As we already know, the main reason for this will be a possible consideration, which will positively affect Bitcoin.
As for the altcoins, they will maintain the same levels. Over the past day, the most powerful coin was Holo (HOT), the reason was tomorrow's listing on Binance. The weakest bit was Bitcoin Diamond, which showed a typical pump and a dump.
Comments on ETF on Bitcoin: 97% positive (source)
On its website, the SEC opened an opportunity to leave a comment about the ETF placement on BTC. 97% of respondents expressed their support for the forthcoming legislative measures.
Highlights is a translation from this source