RATE Group | The Entire Cryptocurrency Market is Now 54% Bitcoin
38814
post-template-default,single,single-post,postid-38814,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

The Entire Cryptocurrency Market is Now 54% Bitcoin

14 Aug The Entire Cryptocurrency Market is Now 54% Bitcoin

Posted at 21:54h in Cryptocurrency News by

[ad_1]

Bitcoin now dominates 54 percent of the total cryptocurrency market cap, hitting a level on Tuesday not seen since the time of its all-time price highs in December 2017.

Analysts Dream Of Altcoin Rebirth

According to data from Coinmarketcap, Bitcoin 00 now has a market cap of $105 billion. August 11 formed the latest date when Bitcoin’s market cap became worth more than all other cryptocurrencies combined.

Long a contested metric for measuring Bitcoin’s success, the increasing market dominance comes as Bitcoin prices continue heading downwards from July’s recent highs around $8450.

Since that price spurt began July 17, BTC/USD has come full circle, on Tuesday dropping below $6000 for the first time since late June.

The status quo, market commentators forecast this week, could not continue for long. Reminiscing over December’s activity, when altcoins abruptly followed Bitcoin to create their own boom market, traders appeared confident such conditions could repeat…

[ad_2]

Source link

Tags:
, , , ,