Bitcoin percentage of total market capitalization at an all time low

in #bitcoin • 7 years ago

atl_totalMarketCap.png
Source: http://coinmarketcap.com

I just wanted to make a very quick post about the fact that the Bitcoin percentage of total market capitalization is at an all time low today. According to http://coinmarketcap.com the percentage is merely 68.9% today.

The price of Bitcoin is plummeting again, while the prices of other altcoins such as Ethereum and Dash just keep rising and rising. Unfortunately, the Steem price is not really affected by the this development. As I'm a long-time Hodler of every cryptocurrency I have, I don't worry at all. Yes, Bitcoin is at a crossroads these days and a huge fight is going on between Bitcoin Core and Bitcoin Unlimited. Many people are panicking once again and scream Bitcoin's dead all over the internet. I don't think so. It has been declared dead more than a thousand times already.

In any case, we're living in interesting times... What's your opinion about the current roller coaster? Is Bitcoin doomed? Is Dash the new Bitcoin? Is this all just temporary and Bitcoin will soon show its dominance again? What about Steem? I would love to read your thoughts.

#steem #altcoins #trading #cryptocurrencies
7 years ago in #bitcoin by
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     7 years ago 
    Is Bitcoin doomed?
    I guess not.
    Is Dash the new Bitcoin?
    Next question please ...
    Is this all just temporary and Bitcoin will soon show its dominance again?
    I would say, as it most of the time happens (in whichever sector), sooner or later serious competitors will arise and claim their part of the cake. This will also happen in the world of crypto currencies. Therefore I predict that in the long run the dominance of bitcoin will decrease.
    What about Steem?
    Steem(it) is a brilliant idea with much potential, but as I feel some enthusiasm about it I wonder if I really can answer this question in an unbiased way? Sometimes it compromises the judgement if one is emotionally involved in something ...
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     7 years ago 

    Thank you very much for your feedback, @jaki01. Of course, nobody who invested in cryptocurrencies can be unbiased answering those questions. Thus, don't worry about being biased. We all are as we all invested either time, money or both in Steemit. :-)

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     7 years ago 

    I just wonder, when many people think Bitcoin Core dead why selling and buying altcoin refer to btc. For Example the ETH price is count to btc, mostly when try change ETH to Dash we must sell to btc first and then we can buy Dash with btc. Nice ! :)

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     7 years ago 

    Suggestion, in future article please define what 'total market capitalization' is. thanks

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     7 years ago 

    Thanks a lot for your comment. In this context, the total market capitalization of all cryptocurrencies is simply defined by their total value in Dollars. Right now, the Dollar value of all Bitcoins is "only" roughly 68 % of the Dollar value of all cryptocurrencies.

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