CRYPTOCAP:BTC.D We bottom in the Bitcoin Dominance Chart in January , from there in Elliott Wave Terms we had a 5-wave move to the upside to % on September And from there we started a 3-wave movement to the downside. Dec 11, · Economist Raoul Pal says Ethereum's (ETH) probable adoption as programmable money may see it becoming the largest cryptocurrency by market capitalization, overtaking Bitcoin (BTC) within the next ten years. At such a time, several blockchain networks may account for a larger share of the global financial markets as digital assets. The market is closely watching the dominance charts, the overall reading of which indicates that both Bitcoin and Ethereum are losing market share relative to the Altcoin segment.
Ethereum bitcoin market shareTop 3 Price Prediction Bitcoin, Ethereum, Ripple: Ethereum shows muscle, razes levels massively
The MACD on the daily chart shows an extreme bullish profile, resulting from the last few hours' upward movements. The current level makes a correction in the short term very possible, allowing a return to more suitable tilt levels for the midterm.
The DMI on the daily chart shows the bulls at their highest levels since last August. Current levels of strength on the buying side do not usually remain for long, so we may see an easing on the long side. The MACD on the daily chart shows a favourable positioning for a bullish cross in the short term. The current situation of the XRP, totally dependent on the actions that the SEC may decide, puts any possible scenario under quarantine.
The DMI on the daily chart shows the bears losing some strength, but they are still at very high levels that assure them control over the price action. The bulls are increasing their power a little but even have room to move downwards. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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The year started with a bang as Bitcoin skyrocketed to new all-time highs. Cardano has been on a massive upswing since the beginning of the year. After a lot of bullish momentum, the digital asset might be on the verge of a correction, suggests various indicators. Bitcoin has conceded market share to the altcoin segment, which has reacted with strong gains. Chris Burniske is another prominent bull on Ethereum.
Burniske did note, though, that the cryptocurrency will face competition from other smart contract chains:. As much as high gas fees signal the value of Ethereum, they also signal the need for things other than Ethereum. Could you be next big winner? I consent to my submitted data being collected and stored. Ethereum also drew its bullish cues also from the anticipation of higher demand as its active supply runs dry. Ethereum is down 7. ETH is expected to see weakness in the near term as it All Rights Reserved.