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While the price of Bitcoin plunges, its dominance is increasing

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Bitcoin has had a terrible month, but not as bad as many other major and minor cryptocurrencies that would seem, with the bitcoin share of the total capitalization of the cryptocurrency, known as its dominant position, which moves higher throughout November.

Bitcoin's price fell about 45% this month after the rival cryptocurrency, the bitcoin money, split in two due to developers and miners who have not reached an agreement on its future, triggering a cryptocurrency at the sectoral level this caused some to questions the chances of survival of bitcoins.

The Bitcoin domain During the month, however, they increased from the lows of 51% at the beginning of November to 53% today, underlining the persistent appeal of bitcoins for cryptocurrency investors and miners.

The price of the bitcoin crashed this month, after a civil war in bitcoin cash cryptocurrency caused a sudden sell-off. (Photo illustration of Chesnot / Getty Images)Getty

Bitcoin this week fell below $ 3,500 for the first time in 14 months, according to the CoinDesk price tracker, down about 80% from its peak in December last year and casting a shadow over hundreds of bitcoin startups and cryptocurrencies that have popped up over the last two years.

Elsewhere, among the other five major cryptocurrencies, Ripple's XRP decreased by 90% from its historical high, Ethereum ether dropped 92%, bitcoin decreased by 95%, and EOS (which peaked in April this year) is down by 85%.

While many of the other major cryptocurrencies have fallen harder than their historical highs compared to bitcoins, it is among the minor cryptocurrencies that a real course has occurred.

The epic Bitcoin race of the last year, which saw its price rise from $ 1,000 in early 2017 to almost $ 20,000 towards the end of the year, has dragged hundreds of so-called coins alt together with-With many of these that are completely collapsing. & Nbsp;

Bitcoin's domain has fluctuated this year as many smaller coins disappear.CoinMarketCap

Although there has been a lot of news about Bitcoin's death in the last two weeks, the original cryptocurrency is worth even more than it was in the summer of 2017, before many of the alt coins had been created.

In May of this year, digital tokens outside the top 10 accounted for 27% of the total cryptocurrency market capitalization. This fell to only 18%. & Nbsp; The Bitcoin domain reached 32% in January, with ethereum and Ripple & # 39; s XRP its biggest rivals, respectively at 18% and 10%.

In the meantime, despite the massive sales of Bitcoin, it seems that there is still a bit of appetite for cryptocurrencies between institutional investors and the traditional financial services sector.

The bull of the price of bitcoin and the well-known venture capital investor Tim Draper, who recently reiterated his prediction that the price of bitcoin will reach a whopping $ 250,000 by 2022, said he expects the entire economy global turn into cryptocurrency, with bitcoin & nbsp; guide the change.

Draper, speaking with Mike Green of Thiel Macro on behalf of the investor platform & nbsp;Real Vision& nbsp; on the sidelines of World Crypto With in Las Vegas at the beginning of this month, & nbsp; has predicted that the cryptocurrency will eventually constitute two-thirds of all global currency value.

The price of bitcoin has decreased significantly this year, but not as much as other major digital tokens.CoinMarketCap

This morning it was reported that Nasdaq, a New York exchange broker, is proceeding with a plan to list bitcoin futures, according to Bloomberg, citing anonymous sources.

Nasdaq is & nbsp;betting on a bitcoin-supported interest despite the dramatic collapse of the cryptocurrency this year after the first time the prospect of bitcoin futures weighed about 12 months ago. It wants to allow trading in the first quarter of 2019, Bloomberg reported.

In the past, many have focused on institutional investors and the interest of the well-established bitcoin industry compared to other major cryptocurrencies (except for Ripple's XRP) as a reason for selling alt coins so far # 39; year.

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Bitcoin has had a terrible month, but not as bad as many other major and minor cryptocurrencies that would seem, with the bitcoin share of the total capitalization of the cryptocurrency, known as its dominant position, which moves higher throughout November.

The price of bitcoin fell about 45% this month after the rival cryptocurrency, the bitcoin money, split in two due to developers and miners who have not reached an agreement on its future, triggering a cryptocurrency at the sectoral level that has caused some question the odds of survival of the bitcoin.

Bitcoin's dominant position increased during the month, however, from the lows of 51% at the beginning of November to 53% today, highlighting the lasting appeal of bitcoins for cryptocurrency investors and miners.

The price of the bitcoin crashed this month, after a civil war in bitcoin cash cryptocurrency caused a sudden sell-off. (Photo illustration of Chesnot / Getty Images)Getty

Bitcoin this week fell below $ 3,500 for the first time in 14 months, according to the CoinDesk price tracker, down about 80% from its peak in December last year and casting a shadow over hundreds of bitcoin startups and cryptocurrencies that have popped up over the last two years.

Elsewhere, among the other five major cryptocurrencies, Ripple's XRP decreased by 90% from its historical high, Ethereum ether dropped 92%, bitcoin decreased by 95%, and EOS (which peaked in April this year) is down by 85%.

While many of the other major cryptocurrencies have fallen harder than their historical highs compared to bitcoins, it is among the minor cryptocurrencies that a real course has occurred.

The epic Bitcoin race of the last year, which saw its price rise from $ 1,000 in early 2017 to almost $ 20,000 towards the end of the year, has dragged hundreds of so-called coins alt together with– With many of them collapsing altogether.

Bitcoin's domain has fluctuated this year as many smaller coins disappear.CoinMarketCap

Although there has been a lot of news about Bitcoin's death in the last two weeks, the original cryptocurrency is worth even more than it was in the summer of 2017, before many of the alt coins had been created.

In May of this year, digital tokens outside the top 10 accounted for 27% of the total cryptocurrency market capitalization. This has now come down to only 18%. The Bitcoin domain hit a minimum of 32% in January, with ethereum and Ripple's XRP its biggest rivals, at 18% and 10% respectively.

In the meantime, despite the massive sales of Bitcoin, it seems that there is still a bit of appetite for cryptocurrencies between institutional investors and the traditional financial services sector.

The bull of the price of the bitcoin and the well-known venture capital investor Tim Draper, who recently reiterated his prediction that the price of bitcoin will reach the whopping $ 250,000 by 2022, said he expects the entire economy global turn into cryptocurrency, with bitcoin to drive change.

Draper, talking to Mike Green of Thiel Macro on behalf of the investor platform Real Vision on the sidelines of World Crypto With in Las Vegas at the beginning of this month, he predicted that the cryptocurrency will eventually constitute two-thirds of all world currency value.

The price of bitcoin has decreased significantly this year, but not as much as other major digital tokens.CoinMarketCap

This morning it was reported that the New York Nasdaq exchange rate operator is proceeding with a plan to list bitcoin futures, according to Bloomberg, citing anonymous sources.

Nasdaq is betting on a bitcoin-supported interest despite the dramatic collapse of the cryptocurrency this year after the first time the prospect of bitcoin futures weighed about 12 months ago. He wants to allow trading in the first quarter of 2019, according to Bloomberg.

In the past, many have focused on institutional investors and the interest of the well-established bitcoin industry compared to other major cryptocurrencies (except for Ripple's XRP) as a reason for selling alt coins so far # 39; year.

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