Bitcoin may be one of the oldest crypto coins in existence, but its recently proving its power remains a big as ever. As shown on graphs below, bitcoin has increased its market share over the past month to regain a market dominance of 50.9% at the time of writing, This also marks the first occasion this year in which bitcoin has surpassed the 50% mark.
Bitcoins market share has been growing steadily since may recovering from a low of well under 40%.
On the flip side the bitcoin prices remain precarious with some questioning the value of bitcoin tokens over blockchain as a technology.
To conclude, Bitcoin’s market dominance has seen a pleasant rise over the last few months as the majority of traders flock back to bitcoin which despite having seen a fall in value, remains slightly less volatile than the majority of altcoin offerings currently available. The bulk of altcoins have seen a dramatic decrease in market share and value as since May, many of the smaller altcoins, excluding the 10 biggest by capitalization have dropped in size from controlling over 26% to falling below 20% of the total crypto market cap. Further reinforcing function over form, the increased institutional access to bitcoin has helped give it a vote of confidence.
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Please trade bitcoin responsibly and remember losses can exceed deposits. The author or btc.ng can not be held liable for any losses arisen by customers.
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