Bitcoin rallies toward $11,000 – analyst believes in bull market

Image source: Trijo News / Shutterstock

2019-07-16 11:14

Trijo News

info@trijo.co

Altcoins has not been able to recover completely after yesterday's catastrophe numbers. Bitcoin's market dominance is now 67 percent.

After a volatile end to the week when bitcoin was down and turned below $10,000, the world’s biggest cryptocurrency now appears to have recovered somewhat.

At the time of writing, the price of bitcoin is at $10,763, an increase of about $800 since yesterday, numbers from Coinmarketcap shows.

Far from the bear market

Analyst and crypto personality Josh Rager believes we will see a bull market if bitcoin ends the week over $11,469.

However, if bitcoin would drop below $9,650, Josh Rager believes in a bear market. But he does not believe that this is particularly likely.

“We are far from that now,” he writes on his Twitter.

The altcoins continue to perform worse than their big brother, even though Tuesday was not a total disaster. Ethereum has hardly moved at all since yesterday’s big losses. Bitcoin SV and bitcoin cash have gone up about eight percent, Cointelegraph reports.

Bitcoin’s market dominance is now close to 67 percent, numbers from Coinmarketcap shows.

Follow Trijo News on Facebook, Twitter and Instagram.