Market capitalization of over 200 billion US dollars – Bitcoin-course soon at 7,000 US dollars?

the In the night from 10. on the 11. Of may by total market capitalization broke the limit of the 200-billion-US-Dollar. The main reason for that is the end of Bitcoin rally that lifted the price to almost 6.800 US Dollar continued. Thus, Bitcoin is struggling against a very important resistance area.

Dr. Philipp Giese
11. May 2019BTC$6.757,00 7.03% part Facebook Twitter LinkedIn xing mail

Those who follow our daily price updates, know it already: The price of Bitcoin increased yesterday again huge. With this rise in Bitcoin moves currently about 6,800 U.S. dollars. Certainly, the new ETF applications, as well as the generally positive mood on the markets, like – in spite of Binance, Bitfinex, and FinCen – a new interest of the investors.

The current price increase in hopes, that we have left an important Resistance behind us. In the case of well-6.000 US-Dollar is the strong Resistance, which is defined by the Plateau from September to mid-November, 2018:

If the resistance range is sustainably broken, must finally, of course, still show. The current upward movement but for the hope, that it is the average of the last 20 weeks (orange in the sustained positive course of development is a Bull Trap: it was already the end of November to a bullish crossing between the sliding average values of the last 50 or 200 days (green and red), the Bitcoin price now for almost two months, which is significantly above the moving). Also the indicators are right bullish: (here normalized shown) MACD is increasing, as the RSI continues to rise. Finally, the Aroon-Up Signal is very high.

Bitcoin makes it possible: the market capitalization at over US $ 200

The new Pump led to a further milestone for the year 2019: The entire market capitalisation could rise to over 200 billion US dollars. She reached again the heights from the times before the exchange rate collapse of February. However, it is important to emphasise that this is primarily attributable to the development of Bitcoin:

In the above Chart shows the total equity market capitalization of orange, the market capitalization of Altcoins light blue and the Bitcoin dominance of red. Important: The values for the entire market capitalisation of the left axis to read for the Bitcoin domination, as well as for the market capitalization of Altcoins to the two right-hand axes. It is clearly seen that the recent Spike is attributed to the since the beginning of April continued the Bitcoin rally.

For the Bitcoin dominance of this development means that they could grow to almost 60 percent. In order to reach a Level that was last highlighted in December 2017. The analytical approaches of The Crypto Fam voices emanating from Altcoin rallies as a response to a Bitcoin rally that should be able to, however, currencies are also friends of other Crypto than Bitcoin, full of hope.

What are the fundamental developments in the crypto-contribute to Ecosystem to the current thickness and what has this to do Facebook, we have already analyzed yesterday (click here for the article).

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