The Unflippening: Bitcoin’s Resurgent Dominance Showing Who’s King

The volatile nature of the cryptocurrency market needs no introduction after its staggering gains in 2017 and subsequent losses of 2018. Looking at the market as a whole, however, gives us a bigger picture of who were the biggest losers and which coins were the best at storing value.

Total Market Cap Still 11 Times Bigger Than in 2017

The total cryptocurrency market capitalization hit highs of a staggering $830bn in the week commencing January 7, 2018, some $813bn – or nearly fifty times that of the same week in 2017 which stood at $17bn, with Bitcoin 00 accounting for 35% of the total market share.

Nine months on and the euphoria that took hold at the end of 2017 has been replaced with despair and total capitulation of many investors. Total market cap now standing at $187bn; a staggering $643bn or 77% lower than highs earlier in 2018.

It is important to note that while the 2017 hype cycle has somewhat reversed, the total market cap is still 11 times what it was at the start of…