Crypto FOMO

Cryptocurrency Market Update: The Only Thing Climbing is Bitcoin Dominance

Martin Young | December 10, 2018 | 8:00 am
bitcoin btc
Crypto

Cryptocurrency Market Update: The Only Thing Climbing is Bitcoin Dominance

Martin Young | December 10, 2018 | 8:00 am

FOMO Moments

Cryptocurrency markets are still on the floor; tiny gains for most altcoins, BTC dominance climbs.

There has been a little recovery since Saturday’s all time low for the year but nothing significant. Total market capitalization is still way down, hovering just above $110 billion at the time of writing. It could drop below that at any time as the bears are still lurking.

Bitcoin has clawed back almost 2% on the day to reach $3,570. It has been in an uptrend since its low of the year at the weekend of $3,280 but the rebound was expected. BTC has lost 11% since the same time last week when it was priced at $4,000.

Ethereum is still on the floor with no gains on the day, it is just over $90 at the moment. At the time of writing altcoins in the top ten are mixed, mostly green but gains are tiny. EOS is leading the pack with a rise of 8% to take it back to seventh spot at just under $2. The rest are not moving much and unsurprisingly Bitcoin Cash is falling again.

There is very little movement in the top twenty during the morning’s Asian trading session. Dash is leading the group with a 3% recovery on the day, Monero is not far behind.

FOMO driven pumps are happening at DEX which has surged over 30% on the day. Centrality and Aelf are both in double figures at the moment but not much else is going on at the green end of the top one hundred. At the time of writing there were no altcoins dropping double digits as markets are pretty flat.

Total crypto market capitalization is currently at $112 billion, which is a marginal gain on yesterday’s levels. Since Saturday’s big dump markets have recovered 8.7% but are still on the floor. From the same time last month the crypto currency capitalization has been slashed by half with a hundred billion going out of the digital door. Bitcoin dominance is the only thing climbing at the moment as it gets back to 55%.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

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NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

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