Bitcoins Dominance Rising
Bitcoin has recently displayed stabilized pricing after years of flux. Unfortunately, after eight weeks of a stabilized Bitcoin, the high has come to an end and new turbulent times have followed onto the cryptocurrency. Swings in the value and cost of Bitcoin are the norm, with investors waiting until the coin is widely regarded by investors and traders globally. Currently, Bitcoins estimated roughly around $200 Billion in capitalization, which accounts for 61.6% of the cryptocurrency market. Gone are the days where Bitcoin would fluctuate from a strong dominance over the crypto market to low dominance.
The trend of dominance for this cryptocurrency has become an indicator for traders and investors. Whenever Bitcoin surges into dominance, while also remaining flat, it ensures that capital is flowing through the BTC Token System. This means that whenever the shares of Bitcoin is rising, or their dominance is growing, then all other cryptocurrencies are decreasing in value and are at risk of losing all equities. No longer is Bitcoin a haven, instead is a powerhouse in the crypto industry.
The rise of Bitcoins dominance worldwide has shown educational research, which indicates that Chinese Investors & Traders have been using the Yuan to purchase Bitcoin positions. These positions allow the Chinese to protect their money during a time when the United States & China are at odds ends with each other. This shows that even though Bitcoin isn’t a haven for cryptocurrencies, it is a haven for Chinese investors and traders.
Industry Analysts Speak Up
History has indicated that the upward trend in Bitcoin is the result of significant headline that made the coin goes viral. However, these trends always disappear and watch the surge drop over substantial periods. During this time, AltCoins and StableCoins are playing catch-up with the Bitcoin. Surges fall from January to May. Analysts continually predicted that Bitcoin would inevitably have global dominance over all cryptocurrencies. It’s forecasted by these analysts that Bitcoin can exceed past the $200 Billion marks, with an average of $1 Billion in monthly earnings.
The Analyst, Mrs Kearney, commented on Bitcoins dominance by saying: “By the end of 2019, Bitcoin will reclaim nearly two-thirds of the crypto-market capitalization as AltCoins lose their lustre because of growing risk aversion among cryptocurrency investors. More broadly, financial regulators will soften their stance towards the sector.”
Mr McCaffrey, the Head of the Kearney Global Policy Council also commented on the BTC Dominance by saying: “The ever-growing complexity supports our prediction that Bitcoin will regain its dominance among AltCoins, most recently demonstrated by the “hash war” that occurred in the Bitcoin Cash ecosystem. Additional “hard forks” and the continued lack of consensus among developers about a path forward will further widen the chasm between Bitcoin, as the most accessible and widely recognized cryptocurrency, and the AltCoins community.”
Bitcoin being able to surpass the 60% Share Percentage is an important goal accomplished. This marks the 1st time in seventeen months that Bitcoin has been able to reach these high figures. It’s also considerably higher than their competitors of Ripple & Etheruem, who sit at 5.5% and 9.8% respectively. Analysts suspect that this share percentage will grow for Bitcoin over time and that there still considered being the top IPO (Initial Coin Offering) in the cryptocurrency industry. New IPOs will continually fail in comparison to the top three crypto coins of Bitcoin, Etheruem and Ripple.