Bitcoin dominance at 37.79% presently out of over 21850 cryptocurrencies, still two times bigger than the second. But not just only that, it is having the strongest blockchain and also the most decentralized with no central authority.
I think people more care to know about bitcoin price history and its marketcap.
Topic: A Short History of Bitcoin Dominance (Read 77 times)
I have a question for the OP. You are a beginner, and in the last few days, you have created a bunch of topics by copying material from the Internet. Yes, you provide links, but I'm wondering, do you think you're the only one who knows how to search for information on the Internet?
Why put a bunch of articles here that you didn't write yourself? Can you say something about yourself?
Why put a bunch of articles here that you didn't write yourself? Can you say something about yourself?
Bitcoin dominance refers to the ratio between the market capitalization of BTC to the total market cap of the crypto market. A lot of things have change since the launched of Bitcoin over 10years ago. Today, BTC dominance faces its heaviest competition in DeFi, NFT and metaverse tokens, and over 20,000 non-bitcoin cryptocurrencies.
I have provided a short summary of bitcoin's dominance since it was launched till date.
Did I miss any details? Please comment below.
Mr Tiger
Sources
https://www.moneycontrol.com/news/business/cryptocurrency/top-cryptocurrency-prices-november-22-bitcoin-in-red-as-crypto-mcap-drops-9577301.html
https://academy.binance.com/en/articles/a-brief-history-of-bitcoin-dominance
https://learn.bybit.com/investing/what-is-bitcoin-dominance/
I have provided a short summary of bitcoin's dominance since it was launched till date.
- 2009 - Bitcoin, the world’s first cryptocurrency, was launched to the public by an anonymous developer or group of developers known as Satoshi Nakomoto.
- 2011 - 2013 - Bitcoin’s price skyrocketed as more investors discovered the digital asset space for the first time. Despite the entrant of altcoins such as litecoin, Ripple’s XRP to compete against, BTC dominance remained at around 95% during this period.
- 2015 - Ethereum is launched by Vitalik Buterin. Popular opinion was that it was meant to rival Bitcoin as a blockchain that allowed more use cases beyond financial services like the transfer of money. The agenda was already "dead on arrival" because bitcoin continued to account for around 90-95% of the crypto market.
- 2017 - 2018 - The year of ICOs. Bitcoin's dominance experienced its first major decline, dropping to an all-time low of around 37% in January 2018 due to the unprecedented influx of around 2000 unique ICOs for altcoins. The competition was fierce.
- Early 2018 - Crypto Winter. Negative sentiment eventually overtook the industry, sending the entire crypto market into a prolonged period of price decline and stagnation as the after effect of scam ICO projects and regulatory scrutiny of some projects by the U.S. and other authorities.
- Late 2018 - BTC dominance gradually climbed back to over 50% by the final months of 2018.
- 2019 - Bitcoin’s price experienced a slight resurgence, trading at around $7,000 by the end of the year, while BTC dominance peaked at about 70% in September.
- 2020 - COVID fueled dip.
- 2021 - BTC dominance reached 72%, its highest tally since 2017 before collapsing to 39% by mid-2021.
- 2022 - Despite the long bear run, Bitcoin remains the world's largest cryptocurrency with a dominance of 38.61 percent, an increase of 0.13 per cent over the day, according to Coinmarketcap.
Did I miss any details? Please comment below.
Mr Tiger
Sources
https://www.moneycontrol.com/news/business/cryptocurrency/top-cryptocurrency-prices-november-22-bitcoin-in-red-as-crypto-mcap-drops-9577301.html
https://academy.binance.com/en/articles/a-brief-history-of-bitcoin-dominance
https://learn.bybit.com/investing/what-is-bitcoin-dominance/
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