Re: BTC/USD dangerously close to $8,000, but HODLers never give up

Quote from: elemosho.crypto on May 16, 2018, 03:25:02 AM

Bitcoin has lost nearly 6% over the recent 24 hours, crashing from $8824 on Tuesday to a low of $8,103 early on Wednesday. Currently, the coin No. 1 is trading at $8,124, but the bullish momentum is gaining traction. Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.

Full article is here : https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-btc-usd-dangerously-close-to-8-000-but-hodlers-never-give-up-201805160319

You valuable thoughts are much appreciated.

I don't consider this as a serious price drop it is just 6%,anything under 15% is just a normal price swing of the bitcoin,so the price may again reach above $9K in a day or so,And I don't think that 85% dominance was just because of crazy rund at the end of 2017 but normally 40% is the dominance level of bitcoin after the numerous coins were introduced in CMC.