The Bitcoin dominance index could start falling again if the price of Ethereum can pare its 5% losses versus BTC year-to-date.
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ETH/BTC dropped below its 200-day exponential moving average for the first time since March 2020, raising risks of more downside.
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In the cryptocurrency world, there are numerous interesting statistics which should never be overlooked. The Bitcoin Dominance Index, while not necessarily a market trend indicator, has quite a lot of merit to it. There is no denying Bitcoin will remain the world’s leading cryptocurrency for some time to come, as it is valued significantly higher compared to other markets. Determining the Strength of Bitcoin’s Value As the name somewhat suggests, the Bitcoin Dominance Index depicts how highly valued Bitcoin is compared to all other markets combined. Given that there are thousands of different markets, it is uncanny how Bitcoin is
The post Top 4 Reasons why a Rising Bitcoin Dominance Index is Promising appeared first on The Merkle Hash.
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This day might be remembered in the history books as a major milestone for cryptocurrency diversification or as another colossal indicator of the altcoin bubble. There are now three cryptocurrencies with over a $100 billion market cap each. Bitcoin, ethereum (ETH) and ripple (XRP) are worth today a combined total of about half a trillion […]
The post Ethereum Over $1000 and $100B Market Cap, BTC Dominance at 32% Record Low appeared first on Bitcoin News.
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Despite being one of the most amazing periods of sustained gains for bitcoin, 2017 ends with the first cryptocurrency losing market share to altcoins. After falling as low as 37.9% in the last two days of 2017, the market dominance of bitcoin now stands at just 38.2% as of this writing on the first day […]
The post After Ripple’s Rise BTC Dominance Falls Below 40% appeared first on Bitcoin News.
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