At the start of the year, both Bitcoin and altcoins performed well relative to their bear market lows. Many altcoins doubled in value, until Bitcoin breached $4,200 and altcoins struggled to keep up ever since – bleeding out in their ratio relative to Bitcoin . The carnage continues, and as Bitcoin tests new 2019 highs, altcoins may be facing a major capitulation event if they fall any further than the bear market lows they had previously set.
Bitcoin Dominance Hits 60%, Over 63% Could Spell Doom for Alts
Bitcoin’s rally continues. After breaching above the important FOMO trigger of $10,000 , soon after, Bitcoin bested $11,000 and just recent made its first test of strong resistance at $11,500.
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Resistance from $11,500 through $12,000, with key areas around $11,700 offer the final nail in the coffin for the bear market. Analysts claim once this level is taken, the bull market will truly begin.
$BTCUSD – Testing Monthly resistance which comes in at 11,650-850 zone if we can clear that a quick move to 14K+ very possible. #crypto @BitcoinLive1 #bitcoin