Topic: [2024-04-30] Bitcoin Dominance Rises as Altcoins Decline (Read 159 times)
Given the centralization and difference in security (e.g. that provided by miners) on bitcoin vs most (all?) other cryptos this isn't surprising. What is surprising is that it isn't higher.
The general decline in altcoin market value enabled Bitcoin’s dominance to rise again after a sharp drop on April 28. At the time of writing, Bitcoin’s dominance was 50.9%. The selling pressure on BTC decreased in the last few hours as exchange reserves diminished.
Read the full article here: https://en.coin-turk.com/bitcoin-dominance-rises-as-altcoins-decline/
Its been three years and bitcoin has been dominating. As this article writes that bitcoin dominance rose to a three-year high of 57% contrary to what you have written. I am not argue to whether you are write or wrong just thought I should ask why the discrepancy and how this dominate rate is arrived at? Is it through using trading view or some other crypto software?Read the full article here: https://en.coin-turk.com/bitcoin-dominance-rises-as-altcoins-decline/
Bitcoin dominance has not falling below 50% since may months ago. It is more than a year ago or more. Bitcoin dominance right now is 53.53%. But I do not see this to be new because bitcoin has really been dominating the crypto market since the beginning of crypto existence and till now.
According to data from 21milyon.com, the price of BTC has fallen more than 5% in the last seven days, pushing its price below $63,000. In fact, BTC saw a 2% decrease in just the last 24 hours. At the time of writing, it was trading at $62,369.67 with a market value of over $1.22 trillion.
However, the decline is not limited to BTC alone. Ethereum (ETH) and many other altcoins also witnessed price corrections. The general decline in altcoin market value enabled Bitcoin’s dominance to rise again after a sharp drop on April 28. At the time of writing, Bitcoin’s dominance was 50.9%. The selling pressure on BTC decreased in the last few hours as exchange reserves diminished.
Read the full article here: https://en.coin-turk.com/bitcoin-dominance-rises-as-altcoins-decline/
However, the decline is not limited to BTC alone. Ethereum (ETH) and many other altcoins also witnessed price corrections. The general decline in altcoin market value enabled Bitcoin’s dominance to rise again after a sharp drop on April 28. At the time of writing, Bitcoin’s dominance was 50.9%. The selling pressure on BTC decreased in the last few hours as exchange reserves diminished.
Read the full article here: https://en.coin-turk.com/bitcoin-dominance-rises-as-altcoins-decline/
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