Crypto News

Traders betting on the decline of the dominance of bitcoin

Many traders predict the imminent resumption of the so-called “artstone”, resulting in the decline of the dominance of bitcoin. Now the figure is 65%.

Over the past few months, the dominance of BTC has remained stable, no significant changes of this indicator has not happened.

Observers believe that after the March collapse of the stock market investors began to massively withdraw from bitcoin and other digital currencies. However, bitcoin still remains significantly more capital than in altonah.

Now the market situation has stabilized, and traders expect a quick return of capital to risk-weighted assets and altcoins in particular.

One of the supporters of such a scenario posted on Twitter with the prediction that in a few months we will see how the index of dominance of bitcoin drops to 57-60%. That happens against the backdrop of increased capital inflows in altcoins.

Another trader also believes that “Alta” will go up to bitcoin, which will reduce the market share of the largest cryptocurrencies. However, this will not happen immediately and not fast. Analysts agree that, on average, the dominance of BTC will decrease by 8%.

At the beginning of this year the figure was over 68%. Then, during the famous race in February, the index of dominance decreased to 62.5%. At the same time, the share of the broadcast market for the first time since June of 2019 has exceeded 10%.


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