Bitcoin’s bullish momentum has driven it past $13000 again after a 30% pullback. Hence, the buying pressure in Bitcoin still seems consistent. As some of the critical indicators are still lagging, apparently, the limited supply with global economic unrest is enough to motivate the traders at the moment.
The price of Bitcoin [BTC] 3: 00 hours UTC on 10th July 2019 is $13020. It is trading 2.9% higher on a daily scale.
BTC/USD 4-hour Chart on Bitstamp (TradingView)
Bitcoin’s dominance of the cryptocurrency markets breached another percent as it reached close to 65%. Moreover, while in terms of USD, the altcoins are trying to hold above support, most altcoins are testing ultimate support levels with respect to altcoins.
XRP/BTC Weekly Chart on Bittrex (TradingView)
While this upsets the traders trying to accumulate Bitcoins, however, many experts suggest – it will also provide for authentic and sustainable growth of the market from now.
Ethereum [ETH], Bitcoin Cash [BCH] and Litecoin [LTC]
While Litecoin [LTC] is looking to establish support near $120, Bitcoin Cash [BCH] is also trading above $400. These two are ideal alternative cryptocurrencies for payments due to the low transaction cost. However, the utility of cryptocurrencies in payments is still limited due to regulatory concerns and competition from banks.
ETH/USD 4-Hour Chart on Bitstamp (TradingView)
Ethereum [ETH] has also maintained support above $300. However, the last time Bitcoin broke above $13000; ETH, ETH was trading above $350. The price of Ether [ETH] at 3: 00 hours UTC on 10th July 2019 is $312. It is trading 1.13% lower on a daily scale.