Crypto users are saying that the crypto market is now bouncing back after long 7 month bear period. Bitcoin is now starting to climb back to where it fell from and it is now regaining dominance in market cap terms.
The drastic stunts that happened last year in December were because of investors using their opportunities to get a high reward, but, now people don’t believe that they will instantly make a 100% return in a few hours so this is why the market is getting back to normal. Bitcoin might be gaining a large market share and this will likely bring bitcoin once again in the bull market. Other, however, think that the entire market is now in a stage where it has already been earlier where bitcoin was the only and favorite investment option despite the many other altcoin options on the market. Bitcoin occupied more than 75% of the market share. Also, experts believe that rising in the market share isn’t a really big deal and we should not get excited because markets work in cycles.
In one of our previous bitcoin newsletter, we discussed how the market is affected when bitcoin catches a certain path. So it is fair to say that when bitcoin goes one way, the entire market follows so it’s not a surprise to see how other altcoins thrive side by side with bitcoin. When bitcoin is in a bullish trend again, the market expects dominance from other altcoins as well. This is a natural process that also makes the market expect that there will be more sophisticated investors who will really see the potential of cryptocurrencies and this money will follow these opportunities.
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