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Bitcoin returns above 9,000, but Altcoins drop against BTC

Written by  May 13, 2020

It took a few days for bitcoin (BTC) price to return above the USD 9,000 level after crashing on the eve of the third mining reward halving.

TradiingView 4hr chart

At pixel time (14:30 GMT), BTC trades at c. USD 9,094 and is up by 4% in a day, almost erasing all its weekly losses. The price is up by 35% in a month and 10% in year.

For around 15 minutes, BTC was above USD 9,000 on May 11, or the halving day, too, but since then it struggled to get back above this level.

Meanwhile, all major altcoins are up against USD by 1%-2%, while dropping by up to 3% against BTC.

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The total market capitalisation is up by 3.5%, to almost USD 252 billion, while bitcoin dominance, or the percentage of the total market capitalisation, reached 66.4%.

Meanwhile, Antoni Trenchev, Co-founder at Nexobank, sees the most popular cryptocurrency reaching USD 50,000 by the end of the year.

@TheCryptoDog everyone on twitter: 10k everyone in the world: 20k

— Jonathan Habicht? (@HabichtJonathan)  

If you are new to the Cryptocurrency world and would like to open an account we recommend Cex.io.

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Paul Saunders

Crypto tech journalist, Paul specialises in Crypto news having worked and traded in the field for over 5 years and has previous Blockchain admin roles to his credit. His knowledge and experience in Crypto tech is very important to us and his contribution is invaluable.

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