Bitcoin Price Analysis on August 20: Fixing at $ 10,750

Given yesterday's sharp upward momentum, we can say that the price of Bitcoin has formed a reversal trend. It is especially noticeable on the 4-hour timeframe. Similar price movements were observed in early August when there was a positive price movement.

Bitcoin Market Capitalization and Altcoin Dynamics

However, this rise in the Bitcoin exchange rate did not affect the market much, since the ratio of altcoins rising and falling in price is approximately 50/50.

The total market capitalization grew by $ 10 billion, of which 8 billion accounted for Bitcoin and only 2 billion for all other coins.

Top Performing Altcoins and New Competitors

The leader in growth over the past day was Energi (NRG), an increase of 11.5% to $ 6.88 per coin. It is allowed her to rise to 46th place in terms of capitalization with a value of $ 136 million.

Besides, yesterday there was news about a new competitor Libra. It will be Venus, the new stable coin which will launch by Binance.