The market dominance of Bitcoin decreases Coinlist.Me

On a turbulent weekend for the cryptocurrency market, Bitcoin's market dominance has fallen to the lowest level in three years

Bitcoin has always been the dominant cryptocurrency because it was the first to be created. As a leading coin, Bitcoin has usually identified around 50% of the total market capitalization of the industry. However, due to the recent drop in prices, the company has lost part of its market share of old coin.

At the time of this report market dominance of Bitcoin has been 40%since 2018. The market dominance of Bitcoin has been over 50%since summer 2019 January an annual high of 69.7% was achieved.

This latest development is due to the fact that Bitcoin's price has dropped to the region of $ 42,000. Due to the massive sale, Bitcoin's price has dropped from $ 60,000 to around $ 45,000 in recent weeks. The market capitalization has also fallen below $ 1 trillion.

The overall market capitalization for cryptocurrencies is over $ 2 trillion, since some old coins continue to perform excellently despite Bitcoin's fights. Ether, the second largest cryptocurrency, has a market capitalization of around $ 400 billion. The market control of ETH is now up to 19.3%. Binance Coin (BNB) comes next and accounts for 4% of the total market capitalization for cryptocurrencies, whereby Cardano (ADA) and Dogecoin (Doge) with a dominance of 3.3% or 2.9% occupy the fourth and fifth place.

Despite the latest losses, several analysts believe that we are not yet in a bear market. Some of them claim that the market is close to the ground and that cryptocurrencies will increase higher in the coming days or weeks.

finally,

I think we are approaching a low point.

Regardless of the movements of #bitcoin At the weekend we see strength #altcoins how good in the strength $ btc couple.

- Michaël van de Poppe (@Cryptomichnl) 16. May 2021