Altcoins Will Be Altcoins; Bitcoin Dominance Reaches 40%+

Yesterday, the Bitcoin Dominance Index (the percentage of total market capitalization of bitcoin) reached an annual high of 41,5% according to Coinmarketcap, and it’s likely to reach higher.
Since last year, the said index has gone down by a significant margin since the rise of altcoins (Ethereum, Bitcoin Cash, Ripple, and Litecoin). To give an example, at the beginning of 2017 the said index comprised about 80% of the market quota. Since then, the market has faced some significant developments and some interesting projects with different incumbent coins.
But, with the pricing hike in December 2017, it reached a seasonal peak of 60% again, despite the problem with the rising bitcoin transfer fees and the emergence of a hard fork (bitcoin cash).
Though this index is only a snapshot, the truth is that bitcoin still remains as the market hallmark, and it’ll be doing so for quite a long time; it’s still the trendsetter in the market, meaning that if bitcoin prices go up or down, altcoins are likely to follow.

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