Bitcoin dominance is on the rise, and altcoins will differ the most
Bitcoin dominance has been on a consistent recovery mission after rebounding from a November low at 61.01. The index appears to have flipped bullish and is on the way to reclaiming the highs formed in the same November at 67.66.
XRP/USD flirts with the lowest since November 26, flashed the previous day, while trading near 0.4700 during early Wednesday. The crypto major refreshed the multi-day low the previous day while extending the downside break of 50% Fibonacci retracement of November’s north-run.
The increasing demand from institutional investors for Ethereum continues to build a compelling argument for its bullish outlook. Taking into consideration ETH 2.0’s launch, it seems to be only a matter of time before ETH price begins to react accordingly.