Report: Growing Altcoin Market Has Hurt Bitcoin (BTC) Price

Bitcoin (BTC), Cryptocurrency–Despite the bear market of 2018, which saw cryptocurrency prices across the board fall more than 90 percent, there has been a general increase interest for altcoins relative to that of the original cryptocurrency, Bitcoin. While BTC still holds the top position in market capitalization by a wide margin ($51 billion over second-ranked ETH as of writing), Bitcoin dominance has undergone a waning effect over the last six months. In January 2017, BTC dominance was near its peak with over 85 percent of the entire market share. One year later, following the crypto price boom in the early days of 2018, BTC dominance had slipped as low as 38 percent, with many analysts at the time predicting a flippening on the horizon. Instead, the entire market collapsed, with altcoins taking the brunt of the price fall and Bitcoin slowly gaining market share throughout the year. However, the last…

Read the original article here