Since it is the largest cryptocurrency by market cap bitcoin dominance is a useful metric that shows us if confidence in more speculative altcoins is growing or falling. That all crypto influencers and channels told you to exit from altcoins but i single told you to enter.
As an alternative to coin market cap where all coins are shown bitcoin dominance only tracks the coins that are attempting to be used as a medium of exchange i e.
Bitcoin market dominance graph. Maybe it stops at this support level maybe will move downward looking for the sma200. Bitcoin dominance chart confirms that ether leads now the market. The real bitcoin dominance index matters because there is currently no easy way to track proof of work coins only.
Bitcoin dominance chart update btc dominance now 64 58 as i predicted it will fall so finnaly target had been achieved. For example from february to june 2017 the bitcoin market share decreased from 85 to 37. I told you to enter in altcoins when dominance was 71 so now almost 6 dominance down.
Crypto market cap charts the charts below show total market capitalization of bitcoin ethereum litecoin xrp and other crypto assets in usd. When market value increases btc dominance declines. Hope you understand very well.
Crypto market cap charts the charts below show total market capitalization of bitcoin ethereum litecoin xrp and other crypto assets in usd. During long term market shifts the dominance metric can show whether demand for bitcoin remains higher than the market average. Even after bitcoin has lost its undisputed dominance it remains the largest cryptocurrency with a market capitalization that fluctuated between 100 200 billion in 2020 owing in large part to the ubiquitousness of platforms that provide use cases for btc.
The bitcoin dominance metric shows how much of the total cryptocurrency market cap is represented by bitcoin. You can also compare market cap dominance of various cryptocurrencies. Cryptocurrency combined market cap charts bitcoin dominance charts and more.
Wallets exchanges payment services online games and more. You can also compare market cap dominance of various cryptocurrencies.