Explained: Why bitcoin’s dominance is down this bear market
Bitcoin dominance is currently less than 40% but what are the factors that are keeping it low compared to the previous bear market of 2018?
Cryptocurrency news by Protos · Protos
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
As of last year, when bitcoin -- and crypto in general -- were riding the wave of exorbitantly high prices, the dominance enjoyed by the world's leading crypto took a dip as money flowed into altcoins and other crypto tokens.
Indeed, bitcoin's dominance dropped significantly from 63% in January 2021 to just 42% by May. It then slipped even further to a bottom of 40% during December.
The altcoin bull run that followed bitcoin's price hike last year was a much-expected and predictable reaction to the currency's surging value. What wasn't expected: for bitcoin’s dominance to remain low in a bear market. B
Hosted on Acast. See acast.com/privacy for more information.