In the latest Bitcoin news, we are sharing something positive about the leading cryptocurrency by market cap. According to data from CoinMarketCap, it seems like Bitcoin has grown its dominance rate and is now (even more) dominant at 55.14% in the entire crypto market.
The next four high volume cryptocurrencies following Bitcoin include Ripple (XRP) with 11.14%, Ethereum (ETH) with 8.55%, Bitcoin Cash (BCH) with 1.65% and Litecoin (LTC) with 1.33%.
As the data from the past weeks and months shows, investors have been quite afraid to keep their holdings in altcoins which is why many of them chose to dump them and retreat them into the relative safety of Bitcoin.
Currently, the total cryptocurrency market cap hovers around $109 billion, which is a figure that represents more than a 86% drop from the all-time high of $825 billion in January this year.
As the end of the year approaches and a number of optimistic predictions about a crypto market look increasingly wide of the mark, a lot of investors may likely have decided to prepare for the so-called “crypto winter” – and decided to convert their holdings to Bitcoin – whether to hold or prepare them for cashing out into fiat.
Currently, a few notable crypto investors including Andreas Antonoupoloulos and Jim Breyer continue to stress that even though the market is continuing to take pain at the moment, it doesn’t mean that cryptocurrencies are undergoing a fundamental unraveling as an asset class (at least not yet).
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