Post
Topic
Board Bitcoin Discussion
Re: Bitcoin wobbles as traders turn to other cryptocurrencies amid uncertain future
by
andrei56
on 01/04/2017, 03:33:56 UTC
What you should be looking at is bitcoin dominance.
http://coinmarketcap.com/charts/#btc-percentage
Bitcoin accounts for 69% of total crypto market cap now, which is very low when you see its overall history. It was ~85% a month back.
I will not be surprised to see bitcoin dominance getting back to over 80% really soon. Bitcoin price have already showing signs of next bull run, money will flow back to bitcoin and dominance will grow again.
Bitcoin could get back that dominance again but the truth is I don’t think that is really important if new investors come then it does not matter if bitcoin is not as dominant as long as new money keeps pouring in bitcoin every day.