Analysis obtained via data present on eToro shows that traders have been investing in Bitcoin and massive sums of money are involved. The main reason attributed to this rising interest is the trade war between the U.S. and China, which has only grown worse due to certain policies undertake by Troll Trump.
I’m not saying Xi Jinping is the apt “Supreme Leader”. He has been responsible for the disappearance of more than a dozen journalists in China. The nation and its leaders are totalitarian. The majority of the BTC mining pools are located in this East Asian nation too. This leads to decentralization.
China has witnessed an upsurge involving drug-related cases in recent times. Even though Gold as an asset isn’t as volatile as Bitcoin, the ROI of the king coin remains high. Although, hacks and manipulation still hamper the popularity of the top-ranked asset on coinmarketcap.
While few believe that a downtrend will bring BTC below the $8000 mark, the majority of traders and analysts don’t share this view. Bitcoin has weathered through all sorts of storms [regulations, bans, etc] in the past and has won every single time:
History repeats almost every time in marketcycles due to the human psychology.
Normally I don’t see a drop happening to $6,000 or so, just a minor one to hit the 100 weekly MA for confirmation bullish uptrend + sideways months.$BTC needs to lose 100MA on daily. pic.twitter.com/L6oKbOxsdA
— Crypto Michaël (@CryptoMichNL) August 24, 2019
Bitcoin Dominance rests at 68.3% as of this very moment. The price dipped at a rate of 1.13% in the course of the past 24-hours. The trading volume recorded is $14.660 billion, while the supply has 17,895,762 BTC coins in play. At present, the total market cap of Bitcoin is $181.234 billion. For now, BTC is priced at $10,127.22 after fluctuating in the market since morning.