In a daily trading session, Bitcoin has touched a high of $16,500, and the dominance of the world’s leading cryptocurrency has reached above 65%, the five-month highest position.
Bitcoin Performs Better than Altcoins
The leading cryptocurrency is making new records, while altcoins are not so active in gaining values and are behind Bitcoin in performance.
Bulls have tried their best to drag the price value towards $20,000, but bears have stopped price value at $16,500. The interesting thing is Bitcoin behaves much better than altcoins in showing bullish performance.
On the other hand, most of the altcoins have expressed bearish performance, and some behaved even neutral without showing any big difference. Ethereum, the second-largest coin by volume, made its move in an upward direction to $470 but then shredded its value as a result of bears’ pressure. Currently, it is exchanging hands at $460. Ripple also failed in making an upside move and is currently trading below $0.255. Other major coins were also included in the list which lost a minimum value instead of following the Bitcoin in the upward direction. These coins include Cardano (-0.9%), Polkadot (-0.6%), and Binance Coin (-0.8%).
However, few cryptocurrencies followed the bullish pathway and witnessed growth over the daily timeframe. For instance, Litecoin reached $60 after surging by 4.5%. Decred is an exceptional coin as it has increased by 15%.
Last week, Bitcoin made many attempts to shackle the resistance of $16k but a bearish blow sent it to as low as $14,300. But in today’s trading session, the value touched an intraday high of $16,500 after breaking the most important psychological resistance of the year. The world’s leading cryptocurrency made new records that were not broken since January 2018.
Bitcoin did not become successful in maintaining its position at $16,500 but dropped slightly in value. At press time, it is standing at $16,280 after an increase of 2.3% over the last 24-hours.
While Bitcoin’s price witnessed an exponential increase over the day, dominance has also reached the five-month high position.