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Bitcoin {BTC} elevated beyond $9500, altcoins on the verge of recovery and may bounce back by tomorrow

Bitcoin

After peering through the chart for the BTC/USD pair on tradingview [with data obtained from Bitstamp] one can understand the state of the market more appropriately. The RSI has begun to head in an upward direction, signifying a trend reversal; it presently stands at 34.5. However, the MACD line has remained south of the signal line since the 14th of August. This shows that sellers are controlling the movement of the king coin currently. Resistance will be felt at the $10957 mark, whereas support lies close to the $9143.5.

John McAfee is a known advocate of Bitcoin. He wishes to run as a candidate for the Presidential seat next year. McAfee has asked BTC enthusiasts and HODLers to be calm and not be concerned about the king coin’s recent fluctuation. He has been forced to move out of his previous location due to a rat revealing his whereabouts to government agencies. Quite simply put, John is an anarchist, who knows that governments are run by the elitist thieves.

Bitcoin is ranked at #1, with the BTC dominance rate resting at 69.1% for now. The price ascended at a rate of 0.84% in the course of the past 24-hours. The trading volume recorded is $15.150 billion, while the supply has 17,905,175 BTC coins in play. As of this instant, the total market cap of Bitcoin is $170.934 billion. For now, BTC is priced at $9546.65.

Bitcoin has had a greater ROI in comparison to Gold in 2019. Although, the volatility of the crypto-market hasn’t decreased.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.