Over 20 Altcoins Doubled In Value In Q1 of 2019. Bitcoin Dominance Is Being Threatened. Is Cryptocurrency Landscape Changing?
2019 kicks off with a bang for the altcoins. The season started with 21 altcoins seeing its value doubled with Litecoin listed at 22nd just barely missing the double increase making a gain of 99.69%.
Some best gainers of closing months on Binance are ENJ 983% MDA 868% EVX 593% OAX 547% THETA 408% HOT 316% BNB290% KNC 261% APPC 219% ONT 214% TRX 206% VIV 192% EOS186%. The image below shows the list of top gainers this 1st quarter of 2019.
One other notable behavior happening is that unlike before the over all cryptocurrency prices rises independently of the Bitcoin prices. That although Bitcoin might be relatively up by 11% in total since the start of the year, the rises in other coins prices, Bitcoin total %share of to the over all industry is declining. From its usual dominant position of holding over 60% of market cap value and judging on its latest development, seeing the last weekly performance Bitcoin is up just about 2% these days but Bitcoin dominance remains to be shedding, now at only 50.2%.
Now a question pops out, what would happen if Bitcoin market share drops to below 50% dominance? And ultimately what would happen if another crypto would dominate the market? Are we seeing a multi-trillion dollar crytpocurrency total market cap rising? Share us your thoughts below.
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Good post! You are invested in cryptos too? Where do you trade?
I use Bittrex exchange, but not really into trading just for swapping from one crypto to another from time to time.
Ah nice ok. I use Binance for my trades. I have about 8 different coins at the moment. I buy low and sell high.