The price of Bitcoin and its future prospects

The main crypto-currencies have struggled to maintain their upward momentum, provided earlier this week. Bitcoin fell again below the $ 10,000 mark, while Ethereum is very careful to exceed the threshold of nine hundred dollars.

Earlier this year, the Bitcoin dominance index hit a record high. Throughout the recovery period in February, the Bitcoin dominance index, which measures its share of the entire crypto-currency market, rose significantly to about thirty-nine percent, largely because of the fact that most of the currencies in the market followed the price trend of Bitcoin itself.

After the initial bearish cycle and decline in January, analysts expected that Bitcoin's price would begin to recover to its previous levels by the end of February. But Bitcoin continued to be in the range of nine and a half thousand dollars to eleven thousand US dollars.

Adam Back, Bitstream-expert and CEO of Blockstream, noted that although technical analysis can show a highly volatile future for Bitcoin, technical developments point to an optimistic future for this crypto currency.

Author: Andrey, analyst Freedman Club Crytpo News

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