íàçâàíèå

Bitcoin Market Dominance at 45 Percent and Altcoin Prices Begin to Decline

Bitcoin Market Dominance at 45 Percent and Altcoin Prices Begin to Decline
Image courtesy of bit4coin.net

Bitcoin is currently dominating the cryptocurrency market as the top-ranked cryptocurrency looks to achieve a 50 percent market share. While BTC remains in the green, the altcoin market is beginning to experience another decline. Ripple, Stellar, and IOTA are the biggest losers among the top ten cryptocurrencies in the market.

Bitcoin Dominance Back Above 40 Percent

According to Coinmarketcap, Bitcoin is now at 45 percent dominance of the cryptocurrency market. The last time BTC was at such a dominance level was in early April 2018. The top-ranked cryptocurrency has a market capitalization of $127.8 billion with more than $5 billion in BTC traded within the last 24 hours.


The price of BTC continues to hold steady above $7,400 with experts believing that Bitcoin could go on to reach $8,000 and $9,000 during this price rally. The consensus at the moment is that the surge is only a temporary squeeze and that another significant dip is imminent. Experts predict that Bitcoin will test a new 2018 low during the next price decline.

Altcoins Bleeding

While BTC holds steady, altcoins are bleeding, many of which are in danger of eroding the gains of the recent price increase. It is usually rare to witness such a significant decoupling of the market with Bitcoin and the altcoin market going in different trajectories.

Ripple, Stellar, and IOTA lead the losers pack among the top ten coins. Ripple and IOTA are down by 5 percent respectively while Stellar has declined by more than 6 percent. The XRP price dip is even more profound given the struggles of the token in 2018. XRP is yet to sustain any growth momentum in 2018 and has failed to hold on to the $0.50 support level gained after the July 18, 2018 rally.

Other major coins like NEO, BNB, and ICX have also experienced a massive downward slide over the past 24 hours. NEO is down by almost seven percent, BNB by 5 percent, and ICX by a whopping 11 percent.

The current downward slide is probably due to a technical correction in the wake of the July 18 price surge. The emergence of strong volume in the market points towards a more sustained price rally which should hold on for more than just a couple of days.

Do you think the altcoin price dip is a sign that the recent rally might be over? Keep the conversation going in the comment section below.

Image courtesy of Coinmarketcap.

20.07.2018 / 05:40 50
Bitcoin Rallies above $6,000 as BTC Market Dominance Reaches Two-Month High Bitcoin Rallies above $6,000 as BTC
Image courtesy of Ethereum World News archivesBitcoin has rallied above the $6,000 mark in the last few hours. This surge follows the previous price
Ripple CEO: Bitcoin’s Dominance Over Altcoins May Soon End Ripple CEO: Bitcoin’s Dominance Over
As anyone with altcoins in their portfolio knows, when the price of Bitcoin takes a hit, the rest of the cryptocurrency market gets hit harder.
Stellar Price Rallies 10% as Market Recovers from Wednesday Woes Stellar Price Rallies 10% as Market
The Stellar price rallied by 10 percent on Thursday, outpacing its peers as the market recovered from Wednesday’s precipitous slump. Stellar Price
Capitalization of Cryptocurrency Markets Loses 59% in Q1 2018 Capitalization of Cryptocurrency
The first quarter of 2018 dealt heavy losses to the cryptocurrency markets, with Coinmarketcap data indicating that the capitalization of the
Ripple Price Headlines $45 Billion Market Rally as G20 Fears Subside Ripple Price Headlines $45 Billion
The Bitcoin and Ripple prices headlined a $45 billion cryptocurrency market rally that appeared to be predicated on optimism that this year’s G20
Ripple Price Surges 17% as Crypto Market Makes $15 Billion Advance Ripple Price Surges 17% as Crypto
The cryptocurrency markets continued their steady advance on Monday, with the majority of top 100-coins and tokens rising against the value of the US
Comments (0)
Add a comment
Comment on