Bitcoin dominance data

VentureBeat Homepage. Join today's leading executives online at the Data Summit on March 9th. Register here. However, Bitcoin dominance — the demand for Bitcoin compared to other cryptocurrencies — is growing at a disproportionate rate to the total market cap.

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Content:

• What Bitcoin’s dominance says about the state of the crypto market
• Bitcoin dominance is an irrelevant metric unless…
• Cryptocurrency crown: Bitcoin battles solana, polkadot, litecoin to dogecoin
• Bitcoin’s dominance of the cryptocurrency market is at its lowest level ever
• Altcoins in more pain than Bitcoin, should you buy the dips?
• Bitcoin Market Dominance is Actually Over 80%, New Research Finds
• The dominance of bitcoin is ending

WATCH RELATED VIDEO: MASTER Bitcoin Dominance

What Bitcoin’s dominance says about the state of the crypto market

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Bitcoin dominance is an irrelevant metric unless…

Bitcoin's dominance of the cryptocurrency market is at its lowest level ever thanks to rising interest in alternative digital coins. This is the lowest share of the market that bitcoin has had in its history. Bitcoin's previous low was By contrast, at the start of , its market share stood at over 80 percent. Dominance refers to the percentage a single virtual currency has of the market capitalization or value of every cryptocurrency in the world.

Cryptocurrency crown: Bitcoin battles solana, polkadot, litecoin to dogecoin

Bitcoin still moving sideways on the lower timeframes has managed to hold above key support. The market cap stands at billion. On the surface, this market cycle could go on a similar path. Demiros added :. The story around BTC dominance and the rise of alts is def one to follow. Make sure u look at more than just price when making decisions! Data from Glassnode for the Entity-Adjusted Dormancy Flow EADF , metric used to time market lows and bullish or bearish trends points to a high level of activity by new investors during this week sell-off. Clemente said :.

Bitcoin’s dominance of the cryptocurrency market is at its lowest level ever

In that article, I talked about how to time exponential markups in Altcoins based on a very useful metric I like to use called Bitcoin Dominance. This article will be more of an applied and practical illustration of how you can use Bitcoin Dominance regularly to time your cryptocurrency exposure to either Bitcoin or the Altcoin market. It is a key level because when Bitcoin Dominance broke down from it in December , we experienced the greatest Altseason of all-time. In fact, quite the opposite happened — we saw a reversal to the upside Bitcoin Dominance see Figure 2 below. As Figure 2 shows, we saw a strong uptick in Bitcoin Dominance, which vanquished all Altseason hopes and dreams.

Altcoins in more pain than Bitcoin, should you buy the dips?

In recent years, none have been more contentious than the battles over which cryptocurrency and blockchain pair will eventually come to dominate the rest. Since the beginning of the crypto wave, the clear consensus choice has been Bitcoin, which has sat atop the market capitalization charts from the earliest days. As the grandfather of all cryptocurrencies, the Bitcoin blockchain is beginning to show its age. It suffers from a variety of real-world limitations, not least of which is its inability to scale. The one notable exception is Ethereum , which has long been the lone, large-scale competitor to Bitcoin.

Bitcoin Market Dominance is Actually Over 80%, New Research Finds

This led to speculation that the currency is gaining traction among mainstream financial institutions. It has still had a stunning rally, though, climbing almost 90 percent so far this year, on the back of increased interest from institutional investors and corporate buyers like Tesla. At the same time, some investors have warned of froth in the crypto market. Dogecoin , a meme-inspired digital token, rallied Wednesday after supportive tweets from celebrities like Elon Musk and Mark Cuban. So much of this is about market psychology. Skeptics of cryptocurrencies say that bitcoin and other digital coins are a speculative bubble. Ethereum may be coming after bitcoin, but there are some key differences between the two.

The dominance of bitcoin is ending

The global cryptocurrency market capitalisation rose 4. While decentralised finance DeFi accounted for Bitcoin's market dominance dipped 0. Finance Minister Nirmala Sitharaman will present the Union Budget during the day and it would be closely watched for any announcements or signals on the government's stance on cryptocurrencies that have been gaining popularity but continue to operate in a grey area.

Cryptocurrency Update: The global crypto market on Friday, January 14, fell in the red zone after major coins, including Bitcoin and Ether, tracked sharp losses through the day. The crypto market has been on the downward trod in general for a while now, clashing with the discovery of the new Covid variant Omicron, as investors stayed away. The global traders have been avoiding risk assets amid Omicron fear and have been investing in safer assets instead of them. While Bitcoin prices have remained lower since the beginning of the year, it did rise for two days straight only to fall on Friday. This was down by 3. With the crypto fear and greed index staying at 21 indicating fear, market participants seemed to refrain from taking aggressive orders.

The liquidity of Bitcoin attracts institutional investors who move markets. Bitcoin has grown into a symbol of the crypto world, and any problems of Bitcoin will hurt other projects as well. Those institutional investors who have already allocated funds to crypto have started with Bitcoin. Companies with cryptocurrencies on the balance sheet, like Tesla or Block , have chosen Bitcoin as well. If their Bitcoin holdings cause losses, they will have trouble explaining to their investors why they need to increase allocation to other cryptocurrencies. If Bitcoin stagnates near current price levels, other projects may have trouble growing as big players will not increase allocations to the crypto segment in this scenario.

The total crypto market capitalization crossed the USD 2. Meanwhile, bitcoin BTC dominance is lower today than when the coin's price peaked in mid-April. The important USD 2. The rise in market capitalization followed strong gains in the price of bitcoin, helped by the reports that the US Securities and Exchange Commission SEC is set to allow the first bitcoin futures-backed exchange-traded fund ETF to be listed in the US next week.