Thoughts on the cryptomarket for 12/05/2020

Bitcoin was moving along the morning review yesterday. After an unsuccessful attempt to take 19,500, the main cryptocurrency fell to 18,800, the straits below were quickly bought back, and an hour ago, Bitcoin returned above 19K and is now trading in the 18900-19100 range.

Market capitalization 562 billion, dominance index 62%
Equities are doing well, with the S&P 500 at another high at 3699.12 (as of this writing). Nobody even asks questions why they are growing. And so clear - the vaccine and the relief package, as well as the anticipation of the Christmas rally. Gold is slightly lower and is trading around 1840, the dollar index is around 90.7.

Bitcoin remained in the range indicated in the morning, is now trading around 19,000. Altcoins, as always, suffered more than the main cryptocurrency, sagging much more significantly.

If Bitcoin holds around 19K or goes above, altcoins are likely to show good growth.
Priority option for the weekend - Bitcoin stays in the range of 18800-19500, altcoins are growing.
Alternative - Bitcoin strait below 18800 with recovery by Monday. In this case, the growth of altcoins is delayed.

Thoughts on the cryptomarket for 12/04/2020



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Category: Analytics | Views: 149 | Added by: andryvrozhkov | Tags: #Bitcoin #Bitcoin markets #btc news | Rating: 5.0/1
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