Hello guys! As usual my habit is to check this website https://coinmarketcap.com/ for crypto market price. I saw that bitcoin still dominate in the market.
Take a look in this picture.
The Bitcoin Dominance recorded is still at 52.3%
This is why Bitcoin is the most expensive crypto in the market. But, there is one thing also that struck me and that is the growing number of crypto in the market.
It was recorded at 2093 cryptocurrencies being listed in coinmarketcap and does not include some crypto that are not listed on coinmarketcap for now. So many cryptocurrency to choose from so brace yourself on what crypto will you should consider to contribute or invest.
Bitcoin vs. Altcoins
I get this graph from coinhills (https://www.coinhills.com/statistics/volume-bitcoin-altcoin/) that shows the trend chart of Bitcoin volume strength versus Altcoins. A great number of altcoins combine will soon going to surpass bitcoin and remove its dominant in the market and probably few crypto will dominate in the altcoins group in the near future.
The question is that: Is there any possibility that dominant altcoins will take over bitcoin in the ranking in the future?
I don't believe that will happen in the future considering the strength of bitcoin on the coin market and bitcoin being the mother coin will last long before being overtaken by altcoin. And again the cryptocurrency network is Design to perform only one dominant role and bitcoin sims to be the only coin performing that role accurately which is decentralization and the eradication of the third party involvement in carrying out transactions so this has made bitcoin to be the foundation of the cryptocurrency.Take a look in this picture.
The Bitcoin Dominance recorded is still at 52.3%
This is why Bitcoin is the most expensive crypto in the market. But, there is one thing also that struck me and that is the growing number of crypto in the market.
It was recorded at 2093 cryptocurrencies being listed in coinmarketcap and does not include some crypto that are not listed on coinmarketcap for now. So many cryptocurrency to choose from so brace yourself on what crypto will you should consider to contribute or invest.
Bitcoin vs. Altcoins
I get this graph from coinhills (https://www.coinhills.com/statistics/volume-bitcoin-altcoin/) that shows the trend chart of Bitcoin volume strength versus Altcoins. A great number of altcoins combine will soon going to surpass bitcoin and remove its dominant in the market and probably few crypto will dominate in the altcoins group in the near future.
The question is that: Is there any possibility that dominant altcoins will take over bitcoin in the ranking in the future?