The Real Bitcoin Dominance Index matters because there is currently no easy way to track proof-of-work coins only. As an alternative to Coin Market Cap, where all coins are shown, Bitcoin Dominance only tracks the coins that are attempting to be used as a medium of exchange (i.e. money). BTC dominance has been breaking all resistance even when BTC broke ATH altcoins are still struggling. traditional investors joined the Crypto Market and since then they are controlling the Bitcoin price which resulted in huge depreciation to ALTs Price and Market Cap. some good project did have some nice runs but 80% ALTs are still underwater. Even after Bitcoin has lost its undisputed dominance, it remains the largest cryptocurrency, with a market capitalization that fluctuated between $$ billion in , owing in large part to the ubiquitousness of platforms that provide use-cases for BTC: wallets, exchanges, payment services, online games and more.
Bitcoin market dominance chartTotal Crypto Market Cap, Bitcoin Dominance & Volume | CoinCodex
As bitcoin dominance is going up for past few weeks , now looks its a time for a big pull back and give alts to grow again. D Index Chart. Videos only. Top authors: BTC. Altcoins season!!!!!!! Bitcoin Dominance - Alts - Existential Threat. Altcoin run incoming or fake out? BTC dominance recent overview. Alt season? BTC ready to for a correction.
In other words, the index is quite bullish at the time of writing, thus the possibility of hitting 70 before the end of the year. As Bitcoin dominance in the market shoots up, it implies that altcoins are forced to squeeze even more in the remainder of the market share. The high BTC dominance suggests that altcoins are getting less attention from investors in the market.
Consequently, it means that an altcoin season is unlikely in the near term. However, the same cannot be said for its dominance in the market. For instance, on November 30, Ethereum controlled