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article imageBitcoin reaches over $10,500 but can't breach $11,000

By Ken Hanly     Sep 7, 2019 in Technology
Bitcoin has recovered to over $10,500 but has not been able to overcome the $11,000 resistance level as yet. Bitcoin has been moving up most of the day. All the top altcoins are also to the upside some significantly.
Aaron Wood's analysis
Wood posted an analysis of today's bitcoin price movement along with those of several altcoins on Cointelegraph.
Wood notes that BTC was trading around the $10,400 mark today. It seemed that bitcoin might break through the $11,000 level yesterday but fell short and went down as far as $10,313. When his article went to press a few hours ago BTC was trading at $10,521 or up a percentage point on the day so far.
Ether is seeing a better recovery today after it dropped by about 5 percent yesterday. As Wood went to press, ETH was trading at $178.93 up a full 5.7 percent over 24 hours. The testnet activation of the hard fork has been pushed back to early October. Ehereum co-founder Vitalik Buterin has claimed that the blockchain is almost full. This could deter new adoptions by potential Ethereum contributors.
Other altcoins
Ripple's XRP has shown mild gains on the day after dipping on September 7. It is currently trading at $0.260 up 3.87 percent on the day. Several of the top 20 altcoins were seeing significant games as Wood posted his article. EOS was trading at $3.61 up almost 12 percent for the day. TRON (TRX) was trading at $0.015 up 8.53 percent. Litecoin gained 5.51 percent and was trading at $69.06.
Bitcoin's market dominance continued to be high at over 70 percent. Ether is at 6.99 percent and XRP is third at 4.11 percent. Market capitalization of all cryptocurrencies is over $268 billion at press time up from $263 billion at the opening.
Present situation
BTC was trading at $10,343 when it opened 24 hours ago according to Coindesk data. It has had a low of just $10,317 since but a high of $10,563. At 20:00 Central Daylight Time it was still at $10,516 not far off its highs of the day and up over 1.7 percent or $173 dollars.
All of the top twenty altcoins were in the green. EOS has a double digit gain of 11.59 percent trading at $3.58 according to Coindesk data. Etherium's ether was trading at $179.55 up 6.19 percent on the day. Litecoin (LTC) was trading at $69.57 up 6.9 percent on the day. Ripple's XRP was trading at $0.2616 up 4.16 percent on the day. Tron (TRX) was also one of the better performers gaining over 9 percent at $0.0155. The present price of bitcoin and the top twenty altcoins can be found here.
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