Crypto News

Forecast: the Dominance of bitcoin in 2020, could drop below 50%

The index of dominance of bitcoin this week continued to decline, some analysts believe that the industry will benefit from this trend. In the night of Friday, October 18, dominance BTC dropped to 66.1%.

If altcoins will be strengthened over the next several days, the proportion of bitcoin transactions will fall below 60%.

One of the supporters of reducing the dominance of BTC presented on Twitter under the name Token State, believes that the share of transactions with bitcoin will be reduced to 30%.

The weakening of the coins will play only on hand throughout the cryptocurrency market, as it will become healthier and less dependent on the dynamics of the largest digital currency.

The weakening of the dominance of bitcoin drew the attention of the trader under the pseudonym Bitcoin Jack. He predicts that by the first quarter of 2020 the index of dominance BTC will drop to 40-44%. A tendency to decline could be crucial in October-November.

One of the main reasons for this development will be the transition of the investors in altcoins. This policy can be associated with the desire of players to balance their reserves in cryptosphere.

A Twitter user under the nickname M0byy stressed that the dominance of BTC has been falling for the last six weeks and there is no signal to strengthen the position of the first cryptocurrencies.

Source:coinspot.io
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