Bitcoin may lose its power over the market | Redenom

Bitcoin may lose its power over the market

Bitcoin may lose its power over the market

The share of the first cryptocurrency in the digital money industry dropped to its lowest level in the last three months

For the first time since December 2018, the share of Bitcoin in the digital money market has dropped below 51%. According to Coinmarketcap, now this figure is estimated at 50.9%. Coindesk analysts believe that this is due to an increase in investor interest in altcoins.

Over the past 90 days, Enjin (+ 406%), Binance Coin (+ 181%) and Litecoin (+ 97%) cryptocurrency showed a significant increase in price. As a result of the rise in price of digital money, the market capitalization of all cryptocurrencies, with the exception of Bitcoin, grew by 33% in almost two months. On February 6, the altcoin capitalization was estimated at $ 51 billion, now this figure reaches $ 69 billion.

Until 2017, the share of Bitcoin in the market exceeded 70%, then the first cryptocurrency began to gradually lose power as new altcoins were created. It reached a minimum of 32% in January 2018.

For several days, the main digital coin has managed to keep the $ 4,000 price position. Over the past day Bitcoin has risen by 0.27% and now its value is estimated at $ 4041. If the rate of the first cryptocurrency continues to grow, then it is likely that its market share will increase.