Price volatility in cryptocurrency markets decreased steadily throughout the month of September. Bitcoin prices traded in a tightening range between US$7,300 - $6,200, where higher lows continued to hold but price struggled to make a new higher high. Most alternative cryptocurrencies traded below August lows to test support levels dating back to October and November 2017.
Overall total cryptocurrency market capitalization remained unchanged at US$220 billion. Bitcoin dominance (bitcoin’s percentage of total cryptocurrency market capitalization) ranged between 51-53% throughout the month. As of today’s date (October 7), bitcoin trading volume is at its lowest level in 13 months and price has been nearly flat in the US$6,600 range for over a week. From a technical perspective, a major move seems imminent.
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