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Only four days left for Bitcoin halving. This information alone could have raised Bitcoin's price to $10000
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Bitcoin price reach $10000
It happened faster than expected. Bitcoin has just reached the $10000 regiment for the first time since February 24th.
At the time of writing this article, bitcoin has been flying up 35% in the last 10 days. Who could believe that less than 2 months ago his price was only $3600. Whoever bought bitcoin at that time can just celebrate 3 times the return on investment.
According to Bitcoin's short-term analysis, if a coin can hold $10,000, the nearest resistance is now $10,300 and then $10,500.
The latter may turn into a significant level of resistance, mainly because it is the highest level recorded this year, which was reached on February 13, 2020. Above that is $11,000. From the bottom, the first big support is now $9,800, followed by $9,400.
Source: TradingView Altcoins are suffering
While Bitcoin is in the spotlight, the Bitcoin dominance rate is growing rapidly. At the time of writing this article, Bitcoin's dominance is 68% of the total market
Altcoins are losing value compared to Bitcoin. Many of them are also losing against the dollar.
Ethereum (ETH), the second-largest cryptocurrency in terms of market cap, has seen a 3% increase over the last 24 hours. However, ETH is losing 3.5% of its value against Bitcoin. Ripple's (XRP) also lost 6% against the most popular cryptocurrency. The chart below highlights the suffering of altcoins relative to Bitcoin.
Source: Coin360
