Bitcoin Dominance surges past 50%
Overnight we've seen the bitcoin dominance % rise up above 50% and has continued to rise to it's current level of 51.1%. Looking at our top 10 currencies it looks as though Bitcoin is making gains while everyone else is sliding down a bit. This is incredibly counter intuitive to what most of the Bitcoin community has expected.
Bitcoin up 8%
Bitcoin is up almost 8% today, with EOS and NEM being the only other top 10 cryptocurrencies to post gains on their last 24 hours. Litecoin has held up quite strong in the storm, and I expect it to continue to do so. I think Litecoin is resisting going any lower for the moment and I expect that to maintain until it's ready for another break.
August 1st Looms
I think August 1st has become a non-issue for most Bitcoin users at this point. Bitcoin Cash seems likely to not be a very widely adopted chain, and anyone who is interested in getting their Bitcoin Cash tokens has probably already taken the steps to do so or will in the next couple of days. August 1st is not an uncertain event, and it is uncertainty that effects price in a negative way. I think we could Bitcoin KABOOM going into the 1st, what do you guys think?
Thanks for reading, like and upvote if you enjoyed this content and I will continue to make more!
Grady Brown
@rawpride
Bitcoin: 1GKkT6DPdS4BynmRwEfwJT1LLTe1datVZw
Ethereum: 0xdE4Ff36C94494a58a16Bd322b35d58a87d5C20b7
Litecoin: Lhu9p19VSMSDSzPUCaiXMoTvoGD9RuwSD6
Alt coins are lower than BTC interesting LTC is surprisingly lower
Grab up those LITES while you CAN! I'm grabbing alts today, it's fun!
That BTC market dominance creeping back up. If it gets back to the levels it was close to a few months ago, we could easily see $4-$5k BTC real soon
fantastic !
Thanks sir, I'm going to follow you to check out your photos!
Ok good :)
Thanks !
Thank you for posting this. So what is the strategy going into August 1st?
Buy more Litecoins!
It's astounding and also a sign of maturity to me with Bitcoin. There are so many debates about the aged technology and the real world problems Bitcoin currently has (confirmation time, high fees) but it's not long ago Ethereum and Bitcoin were on par and where is ETH now?
Bitcoin had a long journey and is now established currency in some countries in the world (Japan, Australia, soon South Korea) and that's paving the way for all the other cryptocurrencies. I'm amazed by lead devs apart from all the rumors and debates. Mining today seems ridiculous with that CO2 footprint
animation from gyphy.com
I think the whole crypto ocean if we think of that with an ever rising sea level will see market caps we only dream about today
Many talk about a $5 trillion market the more optimistic see that in 5 years the more conservative in 10 years and maybe the most realistic in 15 years like Andreas Antonopoulous
Thanks for the interesting post. Myself i owning no Bitcoin currently, i avoid the best i can because of the high mining fees and because i'm new. I can clearly understand the concerns of tokenholders who hodl since the beginnings. What a rise! Alone in the first half of 2017, just unbelievable how the sea level of the crypto ocean reaches new alltime highs and is just at $87 billion in a huge market dominated by fiat.
I don't know exactly what happens to Bitcoin but today it has it's strong position among the rising contenders like EOS, Ethereum, IOTA to name a few and i see the brand after Segwit debate and the necessary upgrade as major stepping stone to advancing to mainstream adoption in the next decade.
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