What Does Bitcoin’s Dominance Rate (BTCD) Breakdown Mean for Altcoins?

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In Brief
  • The BTCD rate is facing long-term resistance at 62.3%.

  • There is long-term support at 53.8%.

  • The rate is following both a short and a long-term a descending resistance line.

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The Bitcoin Dominance Rate (BTCD) has broken down below a support level that has been in place since June 2019. Unless it is successful in reclaiming it, the BTCD is expected to continue moving downwards. Breakdown From Long-Term Support The Bitcoin dominance rate has been decreasing since Sept 5, 2019, when it reached a high of 73.09%. Since then, the rate has been following a
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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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