BTC to USD, market updates regarding blockchain and cryptocurrencies market as a whole
BTC to USD, bitcoin price today and for the past month didn’t move as much as expected. The overall price of BTC/USD is $6.643. Surprisingly bitcoin, supposed to gain more ground, however blockchain technology and active ICO’s didn’t deliver yet.
Questions such as when BTC to USD will start gaining are not clear. But since all analysis point to a long term bullish trend might be close enough. Acknowledging the development of blockchain under ICO’s, it is safe to assume that BTC to USD will be positive. Investors around the globe are concerned about bitcoin price but still holding strong to their bitcoin. In terms of bitcoin dominance within blockchain we can see a 52,19%. Not much of a change from our past analysis on BTC to USD.
Coinmarketcap Today where Bitcoin dominates blockchain
First and foremost, we need to understand how BTC to USD is calculated. Starting with bitcoin price, we have $6.643 / 1 BTC. Today bitcoin dominates all coins with 52,19% and the reason behind it it’s quite easy to determine.
BTC to USD today reached over $115 billion, keep in mind that we are talking only about bitcoin trades due date.
Separately the total coinmarketcap excluding BTC to USD is over $105 billion. BTC to USD is not part of the top 10 gainers nor losers where the maximum gained by a coin is 12,67% and the most losses -16,61%.
Top 10 Exchanges in terms of traded volume
If you’re a cryptocurrency enthusiast or master of coins, probably you’ve guess who’s on top of the “Food Chain” (blockchain). Yes, its Binance one of the most popular exchange due to its overall performance and upgrades over the past year.
In terms of total volume trade Binance have over $798 million in 387 markets separating itself from ZB.com with only $69 million. Moreover, between the two and across all exchanges BTC to USD is the most traded coin. Remember that all exchanges and EFT’s are updating the quotes every 5 minutes and BTC to USD price is accurate.
Traders will always trade bitcoin
No matter how grim this picture might look, trades are carried every second. “FOMO” (fear of missing out) is gone. Keeping markets clean of “seasonal” traders who want to become millionaires overnight. Trading BTC to USD and altcoins are done mostly thru exchanges. Keeping the trading cost to a minimum and increasing the profits for those who are involved. Trading BTC to USD today might not look as an option for many traders, however the bull run will surely come.
In terms of strategy the most relevant one points to a long term buy for BTC to USD.
Many analysts refer to this phenomenon as the “RED” coinmarketcap or the “BLOODY” market. To put this into perspective BTC to USD and coinmarketcap is not the only one suffering. Across the charts US equities are in the “RED” zone as well. Trend reversals using technical indicators point to a bull run across the charts. Another key factor is fundamental analysis, where US companies predict profit growth.
In other words, I will make a much easier comparison for BTC to USD. Where BTC (bitcoin) and USD (NASDAQ), under BTC altcoins move accordingly and under NASDAQ individual stocks move as well.
Every single individual stock and altcoin needs to perform well in order for BTC and NASDAQ to gain.
Probably you’re wondering what NASDAQ have to do with everything. Well in the forex market if NASDAQ is gaining and USD is losing it means that you need more dollars to buy the index. Similarly, if US equities are strong and NASDAQ is 70% of the technological sector it means good for BTC to USD conversion rate.
Understanding how to correlate and compare data from both markets will probably point to other opportunities. The best way to profit from trading BTC to USD is to make your own research and understand the risks. Invest in BTC/USD only if you have extra money. DO NOT invest in things you don’t’ understand. But if you still want to invest seek information or mentoring on understanding when to invest.
Like always I Wish You All Happy Trading and Every Success!
For mentoring and other of my publications don’t hesitate to leave me a comment or email me at [email protected]