I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.
For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.
Maybe that does not apply in the case of cryptocurrencies. If bitcoin falls down, there will be a big chance that another type of coin will boom and become the next star. Hopefully, I still rely on the limitations of bitcoin so don't lose the hype for it.For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.