Bitcoin Loses Its Dominant Position On the Crypto Market

By the end of 2021, Bitcoin’s dominance in the cryptocurrency market dropped below 40%. According to Tradingview, this low was last recorded at 36.7% in January 2018.

The dominance of the Bitcoin (BTC) market is disappearing through the percentage of BTC’s market cap and the total cryptocurrency market cap.

According to Coinmarketcap, in May 2021, BTC’s dominance also fell sharply to 40.3% of the total crypto capitalization, and in September it again approached the same level.

According to a study by TradingPlatforms, this data could signal an impending “alternate season,” as altcoin dominance in the cryptocurrency market has tripled over the past seven years, from 21% in 2014 to about 60% in December 2021.

Ethererum (ETH) dominates among all altcoins on the market, its dominance in terms of capitalization at the time of writing exceeds 20% and amounts to almost $ 500 billion. ETH’s dominance in the cryptocurrency market has doubled in 2021.

According to the cryptanalyst Altcoin Sherpa, the “alternative season” has been going on for a whole year. They stated, referring to the chart, that the downtrend may continue in the future.

But in 2022, institutional investors can make a difference. Noelle Acheson, head of market research at Genesis Trading, told CNBC that there are clear signs of an increase in institutional investment in cryptocurrency in 2022.

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