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.
I think it has been discussed here before. Bitcoin dominance is dropped not because investors are moving their money to other cryptocurrencies. Bitcoin have 90% of total cryptocurrency market cap last year but did you realize how much money is there on that time? and also look at Bitcoin market cap on that time and now. Cryptocurrencies are being famous because of the big profit that it can give compared to other investment that is why more people are coming in and more money are flowing not only in Bitcoin but also altcoins and I think that this is the reason why Bitcoin dominance dropped, there are also too many altcoins right now compared when Bitcoin had 90% shares on total crypto market cap, but Bitcoin will still be in the lead.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.