• Developers behind the fork announce that they will release Bitcoin Gold this week
  • Bitcoin (BTCUSD on xStation5 platform) remains on the verge of its key support line
  • Dash (DSHUSD) continues its outstanding rally but sellers could begin taking control

Over the course of the last days we wrote that while Bitcoin was gaining momentum its major peers lagged behind. However, it looks as things have changed since then as major virtual currencies have manged to almost catch up Bitcoin. Let’s remind that Bitcoin stopped rising after revelations that the SegWit2x had been called off. One may suspect that after a debacle related to the SegWit2x traders decided to step up its purchases of other cryptocurrencies and as a result Dash (DSHUSD), Ethereum (ETHUSD) and Litecoin (LTCUSD) experienced an increased demand.

link do file download linkOther cryptocurrencies are catching up the latest Bitcoin’s rally. Source: xStation5

While the SegWit2x has been shelved as for now developers behind the Bitcoin Gold fork have announced that they will release a formal software client for download at 7:00 pm BST on 12 November, though an initial date of a public launch was set on 1 November. It’s worth underlining that the project is backed by LightningASIC, a seller of mining hardware based in Hong Kong, as well as a community of relatively unknown developers. In this place one needs to mention the main purpose of Bitcoin Gold is to make Bitcoin mining decentralized again as the new cryptocurrency will provide an opportunity for countless new people all around the world to participate in the mining process with widely-available consumer hardware that is manufactured and distributed by reputable mainstream corporations.

link do file download linkBitcoin keeps sliding but some key levels might act as a support. Source: xStation5

A technical view suggests that Bitcoin is on the verge of a pivotal level in form of a lower limit of a triangle patter and when sellers break it, it could lead to an extended move to the downside. In this scenario one cannot rule out a pullback even toward $6173 where the first more notable support seems to be placed.

link do file download linkDash has had a remarkable week surging from ca. $270 to $350. Source: xStation5

On the other hand Dash has surged recently but it’s already approached a crucial resistance area which could make a pause for buyers. Once a corrective move emerges we may assume that sellers could be able to take the price down at least toward $316. In turn a breakout of a $350 could result in a try to establish a new record high.