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Bitcoin's Cap Market data does not reflect how truly currency is dominant
As some of our readers already know, on the whole market capitalizationn of an alt-currency is usually how its net worth and its future value are defined. However, according to some experts, "Buy Bitcoin"It's a much more powerful and powerful way to assess the real value of BTC and other similar digital currencies.
Recently, the developers of CoinMarketBook he called the people of Coinmarketcap because he believed to present to his clients "manipulated statistical data" that took into account only the "total capitalization" of a particular altcoin (omitting so many key details that also influence the real value of a good).
In this regard, a CoinMarketBook spokesperson added:
"Market capitalization is a lie, buy support tells the true story."
This sentiment was also recalled by a group of industry experts who also showed their support for this metric system.
The "Buy Bitcoin" metric exposes the true value of various Altcoins
If the data are presented by CoinMarketBook is to be believed, the narrative that Bitcoin is "losing ground" to other resources such as XRP and ETH is completely false. When you use the "Buy Support" metric, we can see it BTC commands most of the market's attention.
Furthermore, to investigate what "purchase support rating" means, we can see that it is essentially "the amount of purchase support related to BTC exists for the currency at a given time ".
Finally, the next currency on the list is Ethereum, which still holds a solid 19.3% rating, while Ripple holds a "buy support" score of 8.4%.
Final take
As from CoinMarketBook of the metric perspectives, their data seem to suggest that the cryptographic market in general is fairly stable and that the current bear market will eventually decline in the next 6-8 months.
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