More declines every day, but this happens very naturally because we are in the Bear Market, in which the common question is when will this decline stop, and because we do not know when the selling operations will stop, especially with the decrease in the fear and greed indicator, the downward process may continue with us for a long time.
The drop is interspersed after light buying, which makes the price rise higher, as happened yesterday when the price of Bitcoin reached 17 thousand dollars, and then rebounded to reach 19 thousand dollars. And now it is settling at 18 thousand dollars, with a daily decrease of about 5%. As for the weekly term, we have a significant decrease of 33%.
If we look at Ethereum, we find that it is no better than Bitcoin, as Ethereum is now trading at $950, a decrease of about 5%, but over the weekly term, we have a decline of about the same percentage, up to 34%.
The rest of the cryptocurrency market suffers from the same drop as well, with the exception of some currencies that achieved a slight rise today, such as Doge Coin, which rose today by 6%, and in the weekly term it fell by only 15%.
We also have Tron, which fell this week by 19%, while in the last 24 hours it rose like Doge to reach a rise of 3.5%, and we also have other currencies whose decline in the weekly term was the least, such as Litecoin, which fell only 7%, and also LINK, which fell only 10% .
Bitcoin and Dominance
Thanks to the currencies I mentioned earlier, which performed relatively well compared to Bitcoin, BTC Dominance fell to 42.8%, after it had reached 45% in the past days. As for ETH Dominance, it reached 14.2%.
The performance of cryptocurrencies is certainly not the best case, but we have it in the long term, and here I am talking about 5 years or throughout the history of Bitcoin, we are constantly rising and punctuated by some declines periodically, and I think that this is not a bad opportunity, especially for investors who have small capitals.
Where imagine with me months ago, if you had 60 thousand dollars, you would have only one bitcoin, but now if you want to buy, you will get more than 3 bitcoins, and this is important to take advantage of these declining cycles to accumulate the largest amount of currencies.
