How Did Bitcoin’s Price Fare Yesterday?
Bitcoin’s price at the moment is clocking in at $9,817.38, which means that since yesterday, it is down about 7.23%. This marks the 3rd day in a row that Bitcoin has been down, but the c...
How Did Bitcoin’s Price Fare Yesterday?
Bitcoin’s price at the moment is clocking in at $9,817.38, which means that since yesterday, it is down about 7.23%. This marks the 3rd day in a row that Bitcoin has been down, but the coin is trending unclear. It is currently 8.89% below its 20-day moving average of $10,775.78, which is somewhat close; a climb up to the 20-day moving average may be needed before momentum buyers come in. On the other hand, if you are a rangebound trader seeking a range for Bitcoin to bounce between, you might find a lower boundary at $9,448.19 USD and an upper boundary at $12,103.37 USD. Its market capitalization currently is estimated to be around $176.12 billion US dollars, while it’s market dominance (percent of total crypto market) is estimated to be 68.06%. It should be noted, though, that Bitcoin’s dominance has been gradually moving up, reporting an average daily gain of 0.29% over the past 14 days. A gain in dominance may suggest cryptocurrency activity is consolidating on the Bitcoin blockchain, and that Bitcoin’s chances for long-term survival are thus enhanced.
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Daily Engagement and Hash Rate Metrics Update
359,997 transactions were recorded on the Bitcoin blockchain yesterday. The trend in daily transactions is not clear, though it should be noted that transactions have dropped by about 4.49% over the past week. If Bitcoin does not grow transactions, it may need to derive its value as a store of wealth. As for Bitcoin’s transaction fees, the average transaction fee yesterday was $2.26 US dollars. The size of the typical transaction on Bitcoin’s blockchain is up 3.22% in US dollars; meanwhile, the fee for sending transactions has been growing by 59.3% per week. Regarding Bitcoin’s hash rate, which serves as a measure of the network’s computational power, it has managed to trend upwards over the past 30 days. It has been gaining daily by a rate of approximately 0.55%. Given the upward trend in bitcoin mining, it may be that hash rate is getting more competitive; this could result in the chain’s security growing stronger. As such, this might enable Bitcoin to draw more capital to its chain.
What are the Richest Hodlers Doing?
There are 556.64 million Bitcoin wallets with at least some positive amount of Bitcoin, but only 2.54% of those wallets have received or sent Bitcoin in the past 30 days. It should be noted that over the past two weeks, the number of monthly active users of Bitcoin has been oscillating by about 7,786.618 per day. Over 90.61% of the outstanding Bitcoin is held by the top 1% of Bitcoin wallets.
Article by SixJupiter
The post Bitcoin falls below $10,000 as price drops for third day in a row appeared first on Coin Insider.
source https://www.tokentalk.co/CoinInsider/bitcoin-falls-below-10000-as-price-drops-for-third-day-in-a-row-5d5542b16fe5556e3f947462
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