Bitcoin holds above $11,600 as dominance climbs, alt coins stagnating

12 Jul, 2019
Analysis
Bitcoin holds above $11,600 as dominance climbs, alt coins stagnating

Bitcoin has managed to climb back above $11,600 and hold that level after dropping just inder $11,000 yesterday. Altcoins remain in limbo as Bitcoin controls market dominance

Bitcoin continues to see major volatility following another week of big moves. Thursday alone, saw BTC drop from $12,000 down to $11,000 before recovering on Friday to $11,600. 

BTC/USD Chart provided by Tradingview


The Bitcoin volatility appears to be having no effect on alt coins which quite simply remain stagnant and have seen little price action. 

Bitcoin has yet to see a major correction from its massive climb over the last couple of weeks as it continues to remain strong above $11,000. 


Alt coins have had no breathing room as of late as most of the attention has been on Bitcoin and where it will go next. Bitcoin’s market dominance remains at 65.1% as majority of traders have moved their funds out of alt coins and into Bitcoin in case BTC sees another huge leg upwards towards it’s all-time high.

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Read more about: Bitcoin (BTC)

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