Bitcoin dominance up 20% in 2022 – what does this mean? |

The latest Forbes predictions estimate that Bitcoin will be the most dominant cryptocurrency in 2022. However, an increasing number of people are seeing potential for a different outcome. People see possible outcomes ranging from no growth to multi-billion dollar market cap dominance by other cryptocurrencies like Ethereum or Ripple.

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Bitcoin dominance is the percentage of the total market capitalization that Bitcoin has in comparison to other cryptocurrencies. In 2022, Bitcoin will be up 20% from its current dominance. This means that Bitcoin will have a larger share of the cryptocurrency market than any other cryptocurrency. Read more in detail here: bitcoin dominance meaning.

This page provides technical analysis, which is a strategy for predicting the direction of prices by analyzing historical market data, especially price and volume. The author’s viewpoint is expressed in the content of this article. Nothing you read here should be construed as investment advice. Purchasing and trading cryptocurrencies should be regarded as a high-risk endeavor. Before making any investing choices, please do your own due research and speak with a financial professional.

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Bitcoin’s (BTC) market share continues to rise, hitting 46.5 percent, as the cryptocurrency ended its ninth weekly red candle in a row.

Dominance refers to Bitcoin’s proportion of the worldwide cryptocurrency market capitalization.

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Because there were few rival digital currencies before the ICO boom, Bitcoin had a 95 percent market share until March 2017. During the 2017 bull market, Bitcoin’s market share dropped from 95% to 35% by January 2018.

The time coincided with the blow-off top for Ethereum’s high, which occurred within 30 days after the cycle’s top. By September 2019, Bitcoin’s dominance had risen to 73 percent, while the price of Ethereum had plunged by 87 percent to $171.

In instance, the price of Bitcoin fell just 20% from January 2018 to September 2019. What may this imply for the rest of the crypto market if Bitcoin’s dominance continues to climb in 2022, as it did in prior halving cycles?

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After worries about difficulties on the Ethereum Beacon Chain led in negative price pressure on Ethereum, the price of Ethereum vs Bitcoin just hit an annual low. When several of the biggest cryptocurrencies are combined with Bitcoin, a similar tendency may be seen.

Cardano, Binance Coin, and Ethereum are all compared to Bitcoin in the graphic below. If the decrease continues coupled with an increase in Bitcoin dominance, altcoins have a 74 percent negative potential when compared to Bitcoin.

altcoins vs bitcoinTradingView is the source of this information.

The cryptocurrency industry’s worldwide market capitalization is presently approximately $1.3 trillion, with Bitcoin accounting for $580 million of it. If Bitcoin’s price and worldwide market value stay steady over the next six months, but its dominance returns to 2019 levels, the remainder of the industry and over 19,000 crypto projects would be left with only $350 million. Crypto Winter has a history of weeding out the weaker ventures, and this cycle may be no exception.

The dominance of Bitcoin is a critical indication to keep an eye on in order to get a better picture of the overall health of the crypto markets. When the price of Bitcoin rises but its market share falls or stays the same, it indicates that the industry as a whole is expanding. When dominance grows, however, it typically indicates a weakening in the crypto sector, which is a benefit for Bitcoin maximalists alone.

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The “bitcoin dominance altseason” is a term that describes the time when Bitcoin’s market share surpasses 50%. This happens every 4 years. In 2019, it will be 2023, so we are in the middle of an altseason right now.

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