Bitcoin began to regain lost ground

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For the first time since December 19, 2017, Bitcoin’s market capitalization has surpassed the value of all alcoins.

Digital gold has strengthened its position due to more robust resistance to negative trends in the crypto market in recent times. After reaching the May low of 36% during the summer, the share continued to grow steadily, and on August 11, it exceeded 50%. Experts call such dynamics expected and confirming the true potential of MTC as a leading cryptocurrency..

Fundstrat CEO Tom Lee attributes this dominance to historical dominance, pointing out that over the past eight years, the share of bitcoin has averaged 80% of the market. He also believes that the loss of positions is due to last year’s rise in ambitious altcoins and ICOs, which attracted the attention of many investors. However, a significant drop in their value, the expectation of ETFs and the recognition of BTC as a commodity forced them to reconsider their priorities, recognizing Bitcoin as the best option..

Mike Novogratz and Peter Smith believe that the increase in the share of digital gold is due to the growing interest in it from institutional investors. Also, many are confident in the long-term success of bitcoin, but not altcoins due to their short-term unpredictability. Experts believe that the current trend will move the market capitalization of volatile coins to the leaders.

This data confirms the data of the ICOrating.com research, reflecting the slowdown in the growth dynamics of the ICO market. in the II quarter of 2018.

text: Ivan Malichenko, photo: Tom Stepanov / Shutterstock 

Bitcoin began to regain lost ground

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