Relief Rally for the Bitcoin Dominance Rate Before the Final Drop

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In Brief
  • BTCD has been decreasing since May 7.

  • The rate has created a short-term triple bottom pattern.

  • The rate is in a long-term correction which could end near 58%.

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The Bitcoin Dominance Rate (BTCD) has reached an important support area, which is likely to initiate a bounce. However, the trend is still bearish, and the downward move should resume after the bounce. Current Support The Bitcoin dominance rate has been decreasing since May 7, when it reached a high of 68.92%. The decline has been swift, especially after June 21. On this date, the rate
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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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