Bitcoin is not giving way as ether and ripple fall – that's why

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A visual representation of the digital cryptocurrency, bitcoin is displayed on December 22, 2017 in Paris, France. (Photo by Chesnot / Getty Images)

The The price of the bitcoin, which last week seemed destined to fall under the psychological sign of $ 6,000 after a substantial sale, has managed to maintain its stability in recent days – although the same can not be said of the other major cryptocurrencies, including ethereum and ripple (XRP).

Bitcoin, which has fluctuated around $ 6,400 since it fell to just over $ 6,000 on most of the major stock exchanges on Friday, has still beaten some of its biggest rivals – most of which he has struggled more than the bitcoin to support their assessments this year after the massive run of 2017.

Bitcoin has added just over 1% to its price in the last 24 hours, while ethere um has decreased by 2.5% and the ripple (XRP) is down by 1.7%.

in the last five days, about $ 43 billion was wiped out by t The largest cryptocurrency market by a total of $ 257 billion on August 7th.

The price of ethereum (traded through token ether) was unable to find support from an announcement by its respected founder Vitalik Buterin, who laid out plans for a blockchain consent algorithm that can survive so Called 99% of attacks on the weekend.

Buterin proposed a way to detect if miners are trying to execute a 51% attack and stop it before the traction develops, & nbsp; providing additional security guarantees. & nbsp; If Buterin finds a way to implement this 1% consent algorithm, to make ethereum one of the most robust cryptocurrencies in circulation.

The price of ethereum is now trading at annual lows of around $ 320, down from over $ 1,300 in January of this year.

The price of bitcoin is outperforming the wider cryptocurrency market. CoinDesk

Here is what is giving support to the price of the bitcoin …

Saturday, for the firs this year, the dominance rate of the bitcoin & nbsp ; – an indicator that tracks how much the total market capitalization of cryptocurrency is held by bitcoin – has exceeded the threshold of 50% .

This increase in the market share of total bitcoin cryptocurrency among concerns the US Securities and Exchange Commission can not grant approval to a highly anticipated & quot; bitcoin exchange-traded fund (ETF) after announcing it would delay the decision until September 30th soon. Previously it was expected some time this month

However, many expected the decision to be postponed and immediate bitcoin losses on the announcement were contained.

An increase in the bitcoin domain essentially means that bitcoin is more in demand than alternative cryptocurrencies and an increase in bitcoin dominance could be seen as the start of an upward trend, since it is a common way for the legal currency to enter the cryptocurrency market.

Elsewhere, bitcoin trading volumes on Turkish exchanges have increased in recent days as the country fights to contain a currency crisis that looks set to continue this week.

Koinim, Turkey's largest trade, saw a 63% increase in the volume of Bitcoin trade, while the BTCTurk and Paribu exchanges declared that their net volumes increased by 35% and 100%, & nbsp; according to data from CoinMarketCap .

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exemption of the digital cryptocurrency, bitcoin is displayed on December 22, 2017 in Paris, France. (Photo by Chesnot / Getty Images)

The price of bitcoin, which last week seemed destined to fall below the psychological sign of $ 6,000 after a substantial sale, has managed to maintain its position in recent days – although the same can not be said of other important cryptocurrencies, including ethereum and ripple (XRP).

Bitcoin, which It has been hovering around $ 6,400 since it fell to just over $ 6,000 on most of the major stock exchanges on Friday, has yet beaten some of its biggest rivals, which have suffered more than bitcoin to support their ratings this year after the massive run of 2017.

Bitcoin has added just over 1% to its price in the last 24 hours, while ethereum has decreased by 2.5% and ripple (XRP) is dropped by 1.7%.

Over the past five days, about $ 43 billion has been wiped out by the broader cryptocurrency market by a total of $ 257 billion on August 7th.

The price of ethereum (traded through token ether) was not able to find support from a nnouncement from its respected founder Vitalik Buterin, who drew up plans for a blockchain consent algorithm that can survive a so-called 99% attack on the weekend.

Buterin has proposed a way to detect if miners are trying to perform a 51% attack and shut it down before it increases traction, providing additional safeguards. If Buterin finds a way to implement this 1% consent algorithm, it will somehow make ethereum one of the most robust cryptocurrencies in circulation.

The price of ethereum is now trading at annual lows of around $ 320, from over $ 1,300 in January this year.

The price of bitcoin is outperforming the wider cryptocurrency market. CoinDesk

Here's what is supporting the price of bitcoin …

Saturday, for the first time this year, the bitcoin dominance rate – an indicator that tracks how much the market capitalization of total cryptocurrency is held by bitcoin – it has exceeded the 50% threshold.

This increase in the market share of total bitcoin cryptocurrency is amid fears of the US Securities and Exchange Commission can not grant approval to a highly anticipated hotcoin exchange fund (ETF), after announcing it would delay the decision as soon as possible on 30 September. Previously it was expected some time this month

However, many expected the decision to be postponed and immediate bitcoin losses on the announcement were contained.

An increase in the bitcoin domain essentially means that bitcoin is more in demand than alternative cryptocurrencies and an increase in bitcoin dominance could be seen as the start of an upward trend, since it is a common way for the legal currency to enter the cryptocurrency market.

Elsewhere, bitcoin trading volumes in Turkey exchanges have intensified in recent days as the country struggles to contain a currency crisis that looks set to continue this week.

Koinim, Turkey's largest trade, saw a 63% increase in Bitcoin trade volume, while BTCTurk and Paribu exchanges said their volumes increased by 35% and 100% according to data from CoinMarketCap .

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