Bitcoin's market dominance over the cryptocurrency market has hit 52 percent for the first time since May this year. This means if all BTC were sold at the current price right now, the total in USD would be more than the value of all other cryptocurrencies combined.
Today in the news:
- Russia will block Bitcoin exchange websites, says central bank official.
- Ripple adds new members to Distributed Ledger Network.
- Xapo on SegWit2x: We might not treat BTC chain as real Bitcoin.
Cryptocurrencies Market Overview for Tuesday, October 10, 2017.
24 Hour Change
7 Day Change
Month-to-Date Change
24 Hour Volume
Market Capitalization
Feel free to use and share my charts, but please mention me as the author.
Latest Crypto News - October 10, 2017
Breaking: Russia Rejects Cryptocurrency as Authorities Block Access to Exchanges
Russia’s central bank is leading efforts to shut Internet access to cryptocurrency exchange websites.
Read more: cointelegraph.com
Other sources:
- Russia's Central Bank Backs Move to Block Bitcoin Websites (Coindesk)
- Russia Set to Block Access to Cryptocurrency Exchanges to Protect Citizens? (Cryptovest)
Bitcoin Price Surpasses $4,800 as Bullish Momentum is Back in Place
A lot of eyes will be on the Bitcoin price for the next few hours and days. Thanks to the gains made over the past 24 hours, we now have a Bitcoin price well above the $4,800 mark once again. It is evident a lot of people have been waiting to see this price point again, as it brings us a big step closer toward reaching $5,000 again. When that will happen exactly, remains to be determined, though.
Read more: themerkle.com
100 and Counting: Ripple Adds New Members to Distributed Ledger Network
Distributed ledger startup Ripple has signed up nine additional users for its global payments network product, RippleNet.
Read more: coindesk.com
Several Chinese Bitcoin Mining Operations are Shutting Down, Local Sources Claim
An interesting sea change is flowing through China as we speak. Although the country is still the biggest powerhouse when it comes to Bitcoin mining, multiple operations have reportedly shut their doors in the past few weeks. It is thought a lot of individuals will sell their ASIC hardware and move on to other ventures. If there is any truth to these claims, China may become an afterthought in the world of cryptocurrency sooner or later.
Read more: themerkle.com
The Bittrex Curse: Analysts Belive Alt Prices Dropping are Linked to Big Player on Bittrex
Analysts at Cryptocyndicate discovered a strange anomaly. Bittrex-traded coins fell disproportionately, adding to the picture of altcoins slumping across the board. Increased volumes and price pressures may create further turbulence on trading and exchange platforms.
Read more: cryptovest.com
Warning: XAPO Users Have the "Real Bitcoin" Chosen for Them
The XAPO wallet signaled it may not support both blockchains after an eventual November split. The wallet may thus disable Bitcoin Core coins and give the official position to the SegWit2X blockchain- based on difficulty levels.
Read more: cryptovest.com
Litecoin Price Hovers Around $50 but Looks to Break Upward
A lot of people would assume altcoins to gain in value once they have recovered from the current Bitcoin price action. It is unclear when that will happen exactly, though. Things are not looking all that great for the Litecoin price right now, that much is evident. Despite a push to $54.43 less than a day ago, the price reversed to $48.7 all of a sudden. It will be interesting to see what this Litecoin price momentum brings in the coming days.
Read more: themerkle.com
Don’t Fear Forks, There’s Only One Bitcoin
There’s been some panic lately over the various “forks” of the Bitcoin network, particularly among the less tech-savvy who hear inaccurate or incomplete news on the mainstream media. It’s important to clear up some confusion, because there are more so-called “forks” coming.
Read more: cointelegraph.com
Percentage of Total Market Capitalization (Market dominance)
Image source
Great information and I thought the Russia news might put a damper on this rally, but it's moving like a freight train right now. When you think that BTC's value is higher than all the alts combined, it tells you everything you really need to know regarding the market. BTC is where the value is perceived to be, everything else, regardless of utility is simply looked at as a derivative of bitcoin.
btc can turn down for correction
Any asset that is on a run needs a breather along the way.
It looks like many altcoins are temporarily being traded for bitcoin, as the coming BTC fork holds promises of 'free' money.
We saw this with BCC, but the movement seems bigger now. I don't expect altcoins to recover before 1st of November, but I've been wrong before..
ICOs are outa here and the core currencies which should of been the main ones all along will survive and dominate now. Bitcoin, Ethereum, Litecoin, Dash
Until they dont.
One thing we can always count on is the ebb and flow of markets.
While some things are popular for a while, others soon turn and follow suit.
BTC is hot right now with altcoins lagging....the second there is a major pullback in BTC, we could well see the alts shoot higher.
However, if you are correct, I am glad I hold 3 of the 4 you mentioned...........they still make up the core of all my crypto holdings.
How come you didnt add Steem to that list?
Hi @bitcoinflood, Thanks for giving an insight. Except Bitcoin, all three currencies are continuously going down (Eth started going up a few hours ago) at coinmarket cap. You didn't mention the names of coins that are continuously going up in this list. NEM and BCC for example. I hope you explain it. Thank You!
Steem will reach 1% market dominance no doubt what so ever.
In this rithm until 25 october bitcoin will become mainstream, and it will be hard for the altcoins to recover
nice post
Very interesting to see bitcoin dominance bouncing back. I don't think this will go on forever though, unless bitcoin will improve things dramatically. Every time I have to make bitcoin transaction, it feels like the stone age compared to steem transactions or even other altcoins like litecoin. High fees and confirmation takes ages. But maybe it's just me.
Thank you for the update in the crypto world.
There is a lot of noise out there with the Chinese and Russians....other governments around the world....forks....regulation....exchanges being closed.
In the end, once it all settles down, I think you have an asset class that, as a whole, grows a great deal. We might be on the roller coaster for a few months though.
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Nice updates about Bitcoins shared @penguinpablo, nice to see market overview of cryptocurrency, good job, much thanks for stay us updated about any news of cryptocurrency....
Excellent job @penguinpablo! You've brought some very useful updates from different segments of crypto world. Steem volume increased 0.03% in last 24 hours. However, Steem is my first crush in crypto world so my hopes for it are always high.
@penguinpablo, You always show the true picture of crypto world with proofs. Hats off!
Steem ON!
I think the reason is that people are collecting their money from alts to BTC to get as much as possible out of the coming fork
What are your thoughts?
I think Bitcoin will drop a little. Thanks for sharing!
Bets are coming in for BTC!
Nice charts, have upvoted :)
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