On Thursday, Bitcoin's share of the crypto market stood at 45.66% of the total market, its highest since the start of the year, according to CoinMarketCap data. Meanwhile, the total market capitalization of digital currencies stood at US$274 billion. This is far less than its all-time high of US$500 billion.
At the end of 2017, bitcoin completely captured the market when its price reached $20,000. As its price fell in early 2018 and the price of less popular coins increased relatively, bitcoin's market share fell below 33% in January.
Given the uncertainty over regulation and the future of ISO, it appears that investors are returning to bitcoin again. Joe Dee Pascal, founder of cryptocurrency fund BitBull Capital, says this has been the case in the past.
“When a cryptocurrency falls in value, investors return to bitcoin, which has the largest market capitalization, because it is considered the safest coin. Bitcoin has the most recognition, the most use, and of course it was the first,” notes Di Pascal.
However, the price of the coin has decreased over the past 24 hours by more than 5% according to Markets Insider data and amounted to $7,239.
According to http://uk.businessinsider.com
You May Also Like
A new strategy for investing in cryptocurrencies from Yale University
Economists at Yale University have developed a model to predict the price of Bitcoin based on the past behavior of the cryptocurrency. Economists have identified two main factors influencing the price of Bitcoin.
100 thousand ATMs in the US now sell Bitcoin
Purchasing Bitcoin through regular ATMs has become a reality in the United States. The new opportunity comes thanks to a recent partnership between Genmega and LibertyX. As a result, the partners were able to provide customers with the option to purchase Bitcoin at any of Genmega's numerous ATMs using their debit cards.
