The currency market is controlled by bulls. Despite retreating from recent highs, Bitcoin and all major currencies are well positioned for a prolonged recovery in a wave of speculative purchases, intensified by the FOMO (fear of loss) phenomenon. The market value of the cryptocurrency rose to $ 241 billion, while the average daily turnover nearly doubled from that time on Tuesday to $ 176 billion. Bitcoin market dominance fell to 65.8%.
btc to usd
Bitcoin (BTC) price update
The largest cryptocurrency by market value recorded the highest level during the day at $ 8,900 during the early Asian hours and fell to $ 8,757 at press time. The currency gained more than 2.5% on a daily basis and remained unchanged since the beginning of Tuesday. Despite the downturn, BTC / USD is still trading above the critical $ 8500, reinforced by a 50% Fibo correction of the upward movement from the lowest level in December 2018 to the highest level in July 2019. The short-term trend is still bullish, but a downward correction is possible As the currency is in the overbought zone.
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