Bitcoin FOMO Continues: Price Crosses $11K, BTC Dominance Rising, Altcoins Are Crashing – Crypto Weekly Report & Overview

Bitcoin’s positive trend continues as the chart is becoming steeper, contrary to all the predictions. Throughout the last few days, all eyes are turned to Bitcoin, the dominance of which has steadily increased to 60%. Most of the altcoins are going down against it. It seems that the enthusiasm on the market is beginning to be felt, pulling yet another wave of FOMO. Those who were here before, however, know that the tune repeats itself and, as such, aren’t as excited. Even as the altcoins lose their value against Bitcoin, they find strength against the USD.

Meanwhile, big players, as well as opinion leaders in the cryptocurrency community are trying to push the Altcoin season forward. This does seem a bit far-fetched at the moment as Bitcoin’s impressive gains get all the attention. Nevertheless, when Bitcoin reaches strong resistance, it could make room for alts to recover. Meanwhile, it’s difficult to assess how and when this will happen but it’s always good to be prepared.

The trend continues to be fairly mixed given the number of cryptocurrencies that managed to make their way into the Top 100. For instance, BEAM has increased by about 50% while other prominent altcoins are quietly waiting. Of course, exceptions such as NEO, HyperCash, Egretia, as well as a few others, always exist.

Airdrops tend to take place every now and then. This time it was MibleWimble’s Airdrop for Bitcoin holders which opened its doors for registration.

Amid the excitement surrounding the cryptocurrency market, as well as the discussion of whether or not the volumes on various exchanges is actually real, the FATF has recently issued guidelines for regulating the activity of cryptocurrency exchanges. It’s part of a push toward an overall market regulation and we expect to see further moves being done in this direction.

It’s also important to take into account that the price spikes are too sharp and if you’re new to this market, you should take the necessary precautions and refrain from risking more than you can afford to lose.

A correction is likely to come and this will allow us to understand where the market is headed to. Meanwhile, we’ve probably entered the phase where FOMO starts to settle in. This is also something to consider and it’s appropriate to be very careful when making any investment decisions.

Market Data

Market Cap: $334.8 B
24h Vol: 71.9 B
BTC Dominance: 60%
BTC: $11,293 23.4%
ETH: $310,2 15.7%
XRP: $0.46 6.1%
BTC Shorts (BFX): 29.5 K BTC

BTC Longs (BFX): 27.8 K BTC


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This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Kyber Network, and Monero – click here for the full price analysis.

The post Bitcoin FOMO Continues: Price Crosses $11K, BTC Dominance Rising, Altcoins Are Crashing – Crypto Weekly Report & Overview appeared first on CryptoPotato.

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