BTC reigns supreme in the cryptocurrency market
Generally, popularity leads to an increase in the quantitative aspect of any asset, whether digital or not, and this seems to be the case of BTC, but, however, when in the market formula, beyond popularity, other variables are added such as credibility and, thus, solidity of the project, everything will undoubtedly point to the top and towards the conquest of certain market, where such asset makes life, such as in the case of BTC.
If we start from the past year of 2022, we get a market trapped in a totally winter space, that is, cold, especially in the last months of that year, when we move to the present year 2023, then, we must express that the BTC began to improve its value and thus, back to the path of credibility as a letter of presentation, this has been a huge reflection pointing to all investors in the crypto market attracting them to invest in Bitcoin.
I can express that the BTC market has a very visible dominance over the rest of the cryptocurrency market, for example, according to reports from analysts of this market, the BTC went from having a 40% of the total value of the entire cryptocurrency market to have right now a percentage very close to 50%, This leads us to say that Bitcoin is more than ever queen of the cryptocurrency market and, at times, it has surpassed the 50% barrier of the market capitalization domain.
Of course, it is always important to review the history of this digital asset and with this we find that this percentage of market capitalization represents the highest in the last two years since in the year of its historical maximum this figure was above the current holding percentage, at the time of writing this article we can see the following graph and observe the percentage of capitalization domain with a Bitcoin near 30 thousand dollars, as you can see below:
As we can see the price at the time of writing this article is $ 29,953.29 dollars and whose dominance of global market capitalization is 49, 639 %, numbers that make Bitcoin the queen of the entire cryptocurrency market and, for sure, in the coming months we will see it with better prices and, taking with it the rest of the cryptocurrencies to the top of the historical prices of each of these crypto assets, especially those assets with solid and reliable projects as is the BTC.
Until another opportunity my dear friends.
Greetings @rbalzan79, society sees in bitcoin a haven of value and therefore the trust that people have had in it, they also compare it with deniminated gold the digital scarcity, as time goes on it will take more value if people do not lose trust.
See you later, have a great week.
Hello dear @amestyj.
You are absolutely right in what you say, Bitcoin currently represents that digital asset where many investors will be able to protect themselves, and this will expand even more in the near future. Thank you for your valuable contribution. Regards.
You all have said it all cos BTC could be kick-starting the bullish growth as it's now $31k+. I'm hoping it continues in this trend to reap some returns while earning on the smart portfolio bot product of Bitget.