What is Bitcoin Dominance | Crypto Coin Gainers

This is all about bitcoin dominance chart, bitcoin dominance Tradingview, altcoin dominance, bitcoin dominance Binance, bitcoin dominance chart Binance, bitcoin dominance coingecko, bitcoin dominance alt season, how is bitcoin dominance calculated.

What is Bitcoin Dominance

What is Bitcoin Dominance


Bitcoin Dominance is a calculation to show how much market share bitcoin has over the overall cryptocurrency market. If we check the Bitcoin market share from the Coinmarketcap website and imagine that the total market cap right now is a hundred billion. We know it’s much higher but for example, it’s 100 billion and if bitcoin’s market cap was 60 billion of that 100 simply put the Bitcoin Dominance would stand at 60 per cent. This can vary depending on bitcoin’s price the price of altcoins and the market caps of overall coins. If we can see at the Bitcoin Dominance chart if we look at the price action we can see how high the Bitcoin Dominance is we’re looking at around that kind of you know 70 to 80.

Bitcoin Dominance History

We can see on the bitcoin dominance chart if we look at the price action on this from 2013 to 2014. The first thing to make very clear was this is a time before that ERC 20 tokens and other blockchains were actually around. So without the easy access to creating new tokens back in the day, there weren’t very many tokens around and they only started to appear as we can tell from the chat in 2017.

When Ethereum launched and then it made it very easy and accessible for other projects to launch their own altcoins. Bitcoin Dominance History snapshot from the coin market cap website if we’re going back to uh 26th of January 2014 a very different ecosystem. Read more about Top 5 Crypto Wallet.

Bitcoin Dominance Chart

If we look at the Bitcoin Dominance Chart, it was at around 85 per cent and that has a huge factor in things. Look in December 2017 which is around the time that you know bitcoin was peaking and making its previous all-time high of the last bull run. It looks like the total amount of coins in the market was around 1600 to 2000 something like that.

A very different industry again at that point once the ERC20 tokens were much more accessible and easy to create. So that’s a big part of the history of Bitcoin Dominance and the chart actually looks so different when you compare it to right now.

Bitcoin Dominance Coinmarketcap


We can actually see very different industries, very different ecosystems the main thing without looking into too much detail at specific coins is that. We have a 2.4 trillion dollar market cap and we actually have close to 10000 different cryptocurrencies in the market. So again from that 1600 to 2000 coins that we’ve seen back in 2017 that has grown almost 5x.

It is a very different industry once again because we have to adapt, we have to keep changing with the market. Just like the Bitcoin Dominance chart changed very drastically when it finally fell from the 80 to 90 kind of levels.

Conclusion

This is all about bitcoin dominance chart, bitcoin dominance Tradingview, altcoin dominance, bitcoin dominance Binance, bitcoin dominance chart Binance, bitcoin dominance coingecko, bitcoin dominance alt season, how is bitcoin dominance calculated.

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bitcoin dominance chart ?

To konw more the about bitcoin dominance read the our article and to view the bitcoin dominance chart scroll down the our article

What is mean by bitcoin dominance ?

Bitcoin Dominance is a calculation to show how much market share bitcoin has over the overall cryptocurrency market. If we check the Bitcoin market share from the Coinmarketcap website and imagine that the total market cap right now is a hundred billion.

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