The most popular cryptocurrency, bitcoin (BTC), for the second time this week rallied c. 10% in around 7 hours, leaving all major altcoins behind.
At pixel time (18:33 UTC), bitcoin trades at c. USD 7,572 after touching almost USD 6,900 earlier today. The price is up by 6% in the past 24 hours, trimming its weekly losses to 8%. Bitcoin is still down by 19% in the past month, but is up by 103% in the past 12 months.
Bitcoin price chart:
Other major coins from the top 10 by market capitalization are up by 2%-5.7% in a day, while bitcoin dominance, or the percentage of the total market capitalization, has surpassed 66% for the first time since November 8.
The total market capitalization increased by 5%, to USD 207 billion.
As reported, after touching USD 6,600 on Monday, BTC rallied c. 10% in around 7 hours, jumping to USD 7,300.
Meanwhile, multiple assets outside the top 10 outperformed bitcoin today – tron (TRX), cardano (ADA) and monero (XMR) are up by 7%-10% in a day, while even smaller capitalization tokens, such as bitcoin turbo koin (BTK), matic (MATIC) and IOST (IOST) increased by 14%-27%.
Waited a few weeks for $BTC to show a sign of strength before wanting to take the next trade.
Often time during a downtrend – waiting for price to go up again will let you buy lower than trying to time a bottom.
If daily candles can close above $7,400 this looks great. pic.twitter.com/5apfBshTc8
— Luke Martin (@VentureCoinist) November 27, 2019
Everytime my followers are universally bearish, I swear to god bitcoin pumps $1000
every. single. time.
— moon (@MoonOverlord) November 27, 2019