The popular cryptocurrency data aggregator, CoinGecko, reviewed the events in the digital asset market in Q1 2020. According to the report
Bitcoin Dominance is one of the most popular tracking metrics. It shows Bitcoin’s total market capitalization relative to the entire market, or in other words, relative to the altcoins.
When Bitcoin price increases, if the Bitcoin dominance is increasing as well, then the price gains of Bitcoin is also the result of altcoins’ sell-off.
And vice versa: if the Bitcoin dominance is steady or decreasing while Bitcoin price is increasing, then we can conclude that new money is entering the crypto markets.
As of writing these lines, Bitcoin dominance has been at its lowest value at the beginning of 2018, amid the parabolic crypto bubble, which saw its price reaching the current all-time high of nearly $20,000. Back then, BTC accounted for about 32% of the total market cap, while Ethereum accounted for a whopping 18%, followed by XRP.
Somewhat expectedly, Bitcoin’s dominance was at its peak back in 2013 when it stood at above 96%. However, it’s worth noting that a lot of the cryptocurrencies that exist today didn’t exist back then.
This equals Bitcoin market cap as a percentage of the total market cap.
Recent Bitcoin Dominance News
Altcoins Like Ethereum And Ripple Losing Their BTC Value As Bitcoin Dominance Surging To 2-Months High
Amid the latest price developments in the cryptocurrency market, Bitcoin’s dominance has increased to over 66%. Most alternative coins are
The cryptocurrency market is growing at a notable rate since the beginning of 2020. Interestingly enough, the growth is across
The cryptocurrency market went through a turbulent week, as the price of all major digital assets went on a rollercoaster.
Altcoins have always been around aside Bitcoin. The first altcoin, Namecoin, popped up somewhere in the middle of 2011. Since
Bitcoin’s dominance refers to the share of the leading cryptocurrency, Bitcoin, in the overall crypto market. The indicator has ranged from
Bitcoin now represents almost 70 percent of the entire crypto market. Its dominance rate currently sits at 69.6%, which is
The long-awaited altcoin season doesn’t seem to be anywhere nearby, as Bitcoin’s price movements continue to dictate the entire market.
Bitcoin’s latest advance pushed its market dominance even higher, causing a lot more damage to altcoins. The much-awaited altcoin season
Unstoppable Bitcoin: Altcoins Bleeding to Death Amid Rising BTC Dominance – Weekly Crypto Market Update
After Bitcoin’s meteoric rise, a small, healthy correction gave way to a continued rally in the Bitcoin market which is already painted