Bitcoin is King: After 112 weeks, Bitcoin dominance is finally above 50% again
1 min read
Bitcoin dominance has been steadily climbing since September 2022, when Bitcoin dominance hit an all time low at a little under 39%. Bitcoin dominance is the ratio between the market capitalization (market cap) of Bitcoin to the market cap of the entire cryptocurrency market. So 39% of the entire cryptocurrency market was invested at Bitcoin in September 2022.
Today, Bitcoin dominance finally hit 50%, meaning that half of the market cap of crypto is in Bitcoin. Bitcoin dominance has not been this high since April 2021, 112 weeks ago!! Actually, as I am typing this, Bitcoin dominance just went over 50%. Bitcoin is king!
Some alt holders might feel a little sad or jealous.
But remember, Bitcoin has always taken the lead in every major rally. For alts to do well, we need Bitcoin to take the lead first. After that, some more money can rotate into alt coins. Go grandpa, you can do it!
submitted by /u/Beyonderr
[link] [comments]
