This is around where it has been trading at in the time following its overnight rejection at 10 200. Bitcoin dominance reaches historically important support level at the time of writing bitcoin is trading up over 2 at its current price of 9 920. Jordan tuwiner the investor of the real bitcoin dominance index suggests that bitcoin s market dominance.
Granted this is the case bitcoin s dominance would move up to 80 percent. Since it is the largest cryptocurrency by market cap bitcoin dominance is a useful metric that shows us if confidence in more speculative altcoins is growing or falling. The bitcoin dominance metric shows how much of the total cryptocurrency market cap is represented by bitcoin.
Although it appears bulls had the momentum that would take it well above 12 000 a run to a high of 12 134 ended with bears pushing prices back to lows of 11 000. On july 28 the bitcoin dominance index rose to 63 4 just as the price rally that took it past 10 000 began to take shape. According to the new measure of bitcoin dominance bitcoin currently makes up 79 of the cryptocurrency market up from the 62 bitcoin market share calculated by the oft cited crypto data website.
Cryptocurrency combined market cap charts bitcoin dominance charts and more. Why does bitcoin dominance exclude stablecoins. Even if the ico intends to be money it cannot offer any improvement over the current fiat system of centralized banking and money printing.
Bitcoin dominance excludes icos because they are each controlled and issued by a centralized entity and so therefore cannot act as hard money. Please support this idea with your likes and. What do you think.
Maybe that will kickstart the start of the new parabolic bull run for the whole market. Based on this pattern here bitcoin s dominance is close to finding a support and around the start of q3 should start rising.
