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Bitcoin Dominance increase to 70% outperforming major Altcoins

 

                                                                                             Source: Gettyimages, edited by Thecoinrepublic.com

Bitcoin (BTC) is the flagship coin, it is a leader in the crypto market and it has been proved once again when bitcoin’s dominance reached 70%. During Bitcoin’s ongoing bull run, it has brought about a critical increment in dominance over the totaled crypto markets, which has come to fruition because of speculators escaping major altcoins for BTC.

The BTC/USD pair has a market predominance of near 70% which is at 69.7%. Though, this isn’t a strange wonder as the flagship Cryptocurrency is typically bullish against different Altcoins particularly when there is a by and large bullish energy in the Crypto economy.

It has a huge dominance over altcoins, when the Bitcoin (BTC) shows a surge in its price and shows a positive growth, the other altcoins are expected to show the same surge in their price and a positive growth and when the Bitcoin (BTC) falls or shows a negative growth, the other coins are also expected to fall and show negative growth.

According to analysis, the altcoins have not been performing at par with the flagship coin the Bitcoin (BTC). Ever since Bitcoin (BTC) began its surge the other coins were expected to follow the leader of the market and grow but the coins such as Ethereum (ETH), Ripple and so on and so forth are not performing well in the market.

The altcoins saw huge development, new technologies were also being introduced as far as the other coins are concerned but still, the altcoins are not able to cope up with the Bitcoin (BTC). The Bitcoin (BTC) is showing dominance in the Crypto market.

The reason that attributed to this trend can be because of the market cycle. Bitcoin (BTC) is far too trustworthy and far too liquid and hence the investors and the traders like to invest in Bitcoin (BTC) rather than other altcoins.

Another popular theory circulating in the Crypto market that suggest why altcoins have simply failed to cope up with the Bitcoin (BTC) is because the altcoins have failed to deliver what they promised to the investors and the traders.

One more theory that is floating in the Crypto market suggesting why the altcoins are performing so bad says that the regulation issues with altcoins is more massive than the Bitcoin (BTC). Even in the United States, the regulation regarding the altcoins is uncertain the traders and investors cannot hold onto all coins when they have so much uncertainty lurking around them.

Even when the above issues do not turn out to be true the performance is and will be low as compared to the flagship coin. The crypto enthusiasts and the crypto traders and investors are looking for the reason. They believe that the coin will show a surge against the United States Dollar (USD).

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About Ritika Sharma

Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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