BITCOIN DOMINANCE CHART & ANALYSIS
BITCOIN DOMINANCE CHART & ANALYSIS
Below, from Coinmarketcap.com, you can actually see the Bitcoin dominance since it's inception, June 2013. You can also see how the other top coins stack up.
Bitcoin - Orange
Ethereum - Dark Blue
Ripple - Light Blue
Litecoin -Grey
Dash, NEM, Monero, and Ethereum Classic also are in there, but you can barely see it.
Bitcoin Since The Beginning
Up until the end of of 2014, Bitcoin dominated 90% of the Market.
Bitcoin Year to Date
You start to notice the dominance subsiding. Ethereum and Ripple start to become a major players, with Litecoin staying steady. Bitcoin drops below 90% dominance and continues to drop.
Bitcoin 3 Months (April 2017)
Bitcoin drops below 70% dominance. You can really see the other major players taking form. Ethereum and Ripple creep up to 20% dominance.
Bitcoin 1 month (June 2017)
Bitcoin below 50% dominance. Ethereum ~30's%. Ripple a little over %10.
Bitcoin 1 Week Ago
Bitcoin barely hovering above 40% dominance. Ethereum reaching mid 20's% dominance. Ripple stays around 10%. Litcoin remains very low, around 2%.
The "Flippening"? Maybe?
Can Ethereum overtake Bitcoin's dominance? Maybe. Right now, most exchanges are primarily Bitcoin exchanges. Some exchanges accept Ethereum. The positive, if you are a ETH fan over BTC, is that many new coins are derived from the ETH platform. So if more and more coins are released in that derivative, then we may see the "flippening" actually take place. Based on the trend from Bitcoin's inception, Year to date, 3 months, and even 1 month, IT WILL EVENTUALLY HAPPEN. I can only see it NOT HAPPENING is if for some reason Ethereum doesn't continue to catch fire, and it's platform dies out (which I don't see). I wouldn't be surprised if Ethereum takes the # 1 spot in dominance by the start of 2018.
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P.S. Play around with the dominance chart yourself, right here. https://coinmarketcap.com/charts/#dominance-percentage
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