Bitcoin Falls Below 70% of Cryptocurrency Market Cap!
This has happened for the first time in history.
BTC is below 70% and Altcoins took 30%.
Even though most coins are denominated in BTC still it seems capital flies towards people getting out of BTC in favor of others.
The biggest gainers are ETH XMR DASH ZEC
Litecoin and Ripple keep their usual positions and caps if we look on whole year charts.
Its possible people are running away due to possible split in BTC that i have written before or because of too easy tracking of transactions on Bitcoins blockchain.
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Previous articles explaining this more:
https://steemit.com/bitcoin/@kingscrown/bitcoins-proof-of-work-alghorithm-to-be-changed
https://steemit.com/bitcoin/@kingscrown/blood-in-the-streets-due-to-possible-btc-fork-some-whales-killed-brutally
I love you and all kingscrown but Roger is messing with my life savings here, for now I am happy I can exit some altcoin investments with some nice gains, but what happens next worries me, I do not think of ETH as safe storage of value :/ and will not use it. Also Qtum is not here yet to use that as a safe haven.
i dont like ETH at all.. and yes Roger just said he will sell 1:1 his BTU for BTC if theres a split...
i wish LTC would get back on its feet and get closer to BTC but seems unlikely.
LTC has nothing going for it I am afraid it's just history. Maybe some day in the distant future. Who knows also this talk of a split might give it a push, but looks like too many are competing for second spot atm.
May I ask why you don't like ETH?
I am getting less and less concerned about the fork the more I read about it. I see this drop in Btc as a buying opportunity. I could be wrong but I think this will be a bump in the road for Btc.
100% agree :)
Good to know :)
I just think that this is a phase and rather a buying opportunity.
Be glad you can buy buy buy! now. There's that chance it will go to 2000$ by the end of the year :P a chance that I definitely don't wanna miss.
And down go's Frasier! Poor BTC
Very good article. Nice to see I'm not the only one who thinks like this. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in. This is quite an interesting website I found: https://www.coincheckup.com The site lets you check all there is to know about the team, product, communication transparency, advisors and investment statistics on every crypto. Check for example: https://www.coincheckup.com/coins/Bitcoin#analysis To see the: Bitcoin Analysis
If you look at the past economics of the world bubbles are normal but with bitcoins, if you stay updated you can get out before they burst.
Daaayuuuuuuuuuuuum!
I am tired of this battle but I have to admit the chaos is helping my bottom line.