Bitcoin drops again, falling nearly 4% to stay just above $10,000

Bitcoin’s price at the moment is clocking in at $10,221.46, which means that since yesterday, it is down about 3.99%. This is the 2nd consecutive day that Bitcoin has moved down, and the coin’s trend over the past two weeks is down. As price is currently somewhat close below its 20-day average price of $10,989.17, we may interpret that to mean a climb up to the 20-day moving average may be needed before momentum buyers come in. Alternatively, for those interested in trading ranges that Bitcoin bounces between, its current two-week trading range in US dollars is between $9,724.8 and $12,253.55. Its market capitalization currently is estimated to be around $181.73 billion US dollars, while it’s market dominance (percent of total crypto market) is estimated to be 68.29%. Bitcoin’s dominance level hasn’t exhibited a clear trend over the past 14 days, instead of oscillating between 67.16% and 69.3%. As its dominance level doesn’t have a clear direction at the moment, one could argue it isn’t clear yet whether altcoins will survive — or if Bitcoin will capture the entire market and the vast majority of use cases for cryptocurrencies.

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