Understanding Cryptocurrencies - 002 : Cryptocurrency Market Cap and Bitcoin Dominance
Chart 1 : Total Market Capitalization
Chart 2 : Bitcoin Price Chart and Market Cap
Chart 3 : Bitcoin Dominance
Chart 4 : Altcoin MarketCap
Combined Observations
- Market Cap increased from $18B on Jan 2017 to $176B today. That is a sweet 100x plus growth.
- Even if there is a correction to the previous peak before the correction, even then the Market Cap will be at $114B which is still a good level before the next upswing.
- Bitcoin price has risen from $952 on Jan 2017 to $4318 today. That is a sweet 4x plus growth.
- Bitcoin market Cap increased from $15B on Jan 2017 to $79B today. This is a 5x plus growth.
- Bitcoin market dominance has gone down from 87% on Jan 2017 to 45% today.
- Inspite of the growth of Bitcoin price and market cap its dominance has gone down, which points us toward the exponential growth of Altcoin Market cap.
- Altcoin market Cap increased from $2B on Jan 2017 to $97B today. This is a 50x plus growth.
- So the biggest gainer this year is Altcoins. Does this mean that the overall cryptocurrency market is getting mature and there are many credible alternatives to Bitcoin or is it an indicator of Altcoin bubble :P
What are your thoughts?
Are we nearing a Bitcoin Bubble?
Are we nearing a Altcoin Bubble?
Are we crossing the threshold of Cryptocurrency adoption and reaching a mass adoption of Cryptocurrency?
Understanding Cryptocurrencies Series
- Decode the table - https://steemit.com/cryptocurrency/@gokulnk/understanding-cryptocurrencies-001-decode-the-table
- Normalised prices of all Cryptocurrencies - https://steemit.com/cryptocurrency/@gokulnk/understanding-cryptocurrencies-001-answer
If you find this article useful Resteem it and leave a comment with the text "reSteemed".
I will cross check your blog for the resteem and give your comment a 100% upvote.
While I am at it, I would love to follow you if you are writing interesting posts. - Normalised prices of all Cryptocurrencies - https://steemit.com/cryptocurrency/@gokulnk/understanding-cryptocurrencies-001-answer
Great stats and points. As someone who's new to this space, it's imperative I learn about past rises and falls, Historic trends of altcoins. Thanks man!
Looking forward to reading about your learning. Feel free to drop the links to your relevant posts in the comments. Would like to catch up on your insights.
I'll be documenting my crypto journey on Steemit via crypto-Blogs so you can follow and check them out when I post them! Just followed you as I'm keen to keep expanding my knowledge of the crypto space!
very nice