Bitcoin (BTC): the value rising by 10%
Bitcoin (BTC): the value rising by 10%
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Bitcoin (BTC): the value rising by 10%

By Federico Izzi - 27 May 2019

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The last week of May began very well with a Monday that saw bitcoin record a double-digit increase, with the value rising by 10%.

Source: COIN360.com

Litecoin and EOS, for their part, recorded increases of more than 14%. A few smaller tokens with lower capitalisation performed even better, and today they are marking substantial increases: Maximine Coin, with 75 billion capitalisation, rose by 40%, standing out as the best of the first 100 cryptocurrencies. Crypto.com chain, on the other hand, in 63rd position with 21 million capitalisation, marked an increase of 37%.

BitTorrent (BTT) is also doing very well, rising 20% and trying to climb the slope after the sharp decline that has characterised it since its launch last February.

Total capitalisation is over $270 billion, which has not happened since last summer. It should also be noted that bitcoin’s total capitalisation is over $155 billion for the first time since May 2018 and this leads to an increase in dominance, reaching over 57%.

Ethereum and Ripple are also doing well with daily increases of 8%, although they lose market share compared to bitcoin, precisely below 10.7% for ETH and 6.4% for Ripple.

Bitcoin chart by Tradingview

The value of Bitcoin is constantly increasing

For the first time since May 2018, the value of bitcoin approaches the threshold of 9,000 dollars, a psychological level that, as indicated in recent days, would have attracted prices with the break of $8,350 occurred yesterday. The value of bitcoin thus rises by 15% over the weekend, moving away from the support thresholds of $6,500-6,800. New supports are at $7,500-7,800.

Ethereum chart by Tradingview

Ethereum

Ethereum, despite the rise of last night and the positive reflections received by bitcoin, fails to go beyond 280 dollars. For ETH, the downward trend remains in the $235 area and consolidation in the $255 area. This would again attract purchases required to push into the $300 area.

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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