Market Watch: OmiseGO (OMG) Spikes 100%, Bitcoin Price Flat
Bitcoin's dominance declines as the asset stays stable while some altcoins skyrocket in value. OMG Network is up by more
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.
Bitcoin's dominance declines as the asset stays stable while some altcoins skyrocket in value. OMG Network is up by more
The cryptocurrency market loses over 5% of its value with Bitcoin dumping to below $12,000 and altcoins bleeding out.
Bitcoin has spiked above the coveted $12,000 mark to a fresh yearly high of $12,450. BTC's dominance has also recovered
Bitcoin's dominance keeps diving, recording 58.4% as the new low. BTC can't overcome the $12,000 resistance while some lower-cap alts
Ethereum has finally overcome the $400 price tag, while Chainlink paints another all-time high. Bitcoin spikes to $11,750 but its
Despite recovering from yesterday's dump, Bitcoin's dominance drops to 59.5% for the first time in over a year. Altcoins surge
Bitcoin's dominance suffers after BTC stalls while some altcoins surge. Tezos's 17% increase since yesterday means that XTZ reached a
Bitcoin marches confidently above $11,600, while most large-cap altcoins remain stagnant. Price action is visible among low-cap alts, after listings
Ethereum, Ripple, and Tezos continued charting increases. Chainlink marked yet another all-time high. Bitcoin remained relatively stable and has its
After feeling the pressure of yesterday's $1,600 price drop, BTC has calmed. Some altcoins are taking advantage and have reduced