The Bitcoin Dominance Rate Seeks to Bounce From the Current Support Area

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In Brief
  • The Bitcoin dominance rate is trading inside support at 62%.

  • Technical indicators suggest a bounce for BTCD is likely.

  • The rate is likely still inside a correction and will eventually make a lower low.

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The Bitcoin dominance rate (BTCD) has reached a crucial support level, a decline below which could trigger a sharp drop. However, technical indicators suggest that a bounce is to be expected. Possible Bounce for the Bitcoin Dominance Rate The Bitcoin dominance rate has been decreasing since May 8, when it reached a high of 68.9%. On July 26, the rate reached a low of 61.8% and has been
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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