homepostsWhat is Bitcoin dominance?

What is Bitcoin dominance?

Kevin VoigtNov 15, 2021

Bitcoin Dominance is a measure of how much of the total market cap of crypto is comprised of Bitcoin. ... When BTC Dominance increases, alts, on the whole, lose value against BTC. When BTC Dominance decreases, alts on the whole, gain value against BTC.

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In this regard, how do I find my BTC dominance?

If we look at the summative market capitalizations of all the existing cryptocurrencies, then we can arrive at a total market cap valuation for the entire cryptocurrency space. Therefore, the Bitcoin dominance is described as the ratio between the market cap of Bitcoin to the rest of the cryptocurrency markets.

Regarding this, is Bitcoin dominance falling? The bitcoin dominance rate (BTCD) has fallen below two long-term support levels. BTCD has been on a sharp downward slope since the beginning of the year. The BTCD is expected to continue decreasing in the long term.

Correspondingly, what are Alt coins?

Altcoins are cryptocurrencies other than Bitcoin. They share characteristics with Bitcoin but are also different from them in other ways. For example, some altcoins use a different consensus mechanism to produce blocks or validate transactions. ... As of March 2021, there were almost 9,000 cryptocurrencies.

How many Bitcoins are left?

21 million bitcoins

Why do all coins follow Bitcoin?

Because they are traded against Bitcoin and their value is evaluated in BTC. So if there is a selling pressure on exchanges like Primexbt/Binance and the price of Bitcoin goes down in $ so the value of the most altcoins falls (in $) because they are evaluated in satoshis and satoshis are evaluated in FIAT for now.

Who owns the most bitcoin?

Satoshi Nakamoto

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About The Author

Kevin Voigt

Kevin is an Entrepreneur, Digital Nomad, Student, and ICO Marketing Manager currently based in Berlin & Champaign. He is actively involved in the Blockchain space and has worked in numerous projects in the Silicon Valley since 2017. His interests revolve around Finance, Consulting, and Blockchain Research.

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