Stop or? In the cryptocurrency sector, the dominance of the metric, which allows you to assess the market share of cryptocurrency and the dominance of bitcoins, therefore represents a market share occupied by BTC. While it is Comes for several monthsSome observers are considering a possible conversion. Let’s look at their arguments
- The dominance of bitcoins in 2023 reached more than 65% of the total capitalization of the market crypto, which has been a remarkable increase since the beginning of the year.
- Observers, such as a sales trader, ensure the possible collapse of the dominance of bitcoins after the final increase to 71%.
Dominance of elevated bitcoin
Since the beginning of 2023 the dominance of bitcoins since she left 40% in January 2023 over 65% at present. In practice this means that Bitcoin represents 65% of total capitalization market crypto. At the same time the dominance of all other cryptocurrencies mathematically passed 40% In January 2023 in 23% Currently.
Part of it dominance D’Ethereum currently dropped from 20% in January 2023 to 12%. The crypto of the second market could not hold their ranks and there are many concerns about it, even if Vitalik buterin He regularly interferes with specialized media to make sure his community.
However, it is possible that dominance Bitcoin Soon to lose a little land and some observers even consider it possible Turn the trend. This is the case of a merchant Rect Capital ThatI can easily see the collapse of this metric.
Possible reversal of trend?
According to him BTC dominance would be in the last stage of his Macro-Trend Haussier. This could reach 71% before S ‘collapse ::
“Bitcoin’s dominance is now placed for what will most likely be his last step in his macro ascending trend before the big collapse. The journey around 71% continues to repeat 64%. But this is the final countdown.” »
Recckt Capital about the dominance of Bitcoins – Source: Account x
It is obvious that this is only a assumption. Especially because other observers are considering Another scenario. For example, Thomas FahrerWhat -founder of Apollo Cryptocurrency Assessment Portal is planning Continuation of an increase Dominance BTC.
According to him, an institutional request for BTC could continue to increase its dominance for the following reason:
“This cycle is different, because when Blackrock and Saylor buy bitcoins, they simply keep it. They don’t change them as altcoins.” »
Thomas Fahrer about the same dominance – Source: Account x
Institutions who bought bitcoins for their cash or customer on behalf of the customer do not necessarily turn to another cryptus, as we have seen in the past. And given the speed at which they buy it, The movement will be difficult to reveal.
(Tagstranslate) altcoins