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Bitcoin controls 60 percent of the value of crypto market

2019-06-26 01:20 pm | Resource: News Section | No Views : 117

Bitcoin controls 60 percent of the value of crypto market CoinMarketCap reported Wednesday (June 26th) that Bitcoin (BTC), the equivalent of over $ 12,000, had dominated more than 60% of the market for the first time since April 2017.
After rising rapidly in recent days, the BTC has reached levels we have not seen since the end of its 2017 rally.
Successes have come at the expense of alternative digital currencies, which so far have failed to deliver similar performance. As a result, Bitcoin has become dominant over the overall market capitalization, now 62% - more than ever in the past two years.
BTC's market value now stands at $ 226 billion of the total market value of the digital currency market in general, totaling $ 365 billion.
Against the background of the daily gains of 12.5% ​​at press time, BTC / USD is even ahead of the top 10 in the first ten encoded currencies, Ethereum (ETH). The latter achieved returns of 6.2% in the same period and still has a market share of over $ 35 billion The first since August.
BTC commentators cheered with the latest hegemony. A Twitter account known as Armin van Bitcoin added that it did not trust CoinMarketCap, and that the actual number was closer to 95% of the market share.
"If a central, initial, low-volume, unlisted or Bitcoin-only currency is traded, the market value is meaningless and most currencies are in line with those criteria."
In other words, while Bitcoin is a long-coded currency list, the potential amount of new alternative digital currency is almost limitless, which can distort the overall market value index.
Earlier, some press reports reported, Bitcoin technical price scale which suggested that the fair price of coded currencies by the end of 2019 should be about $ 21,000. This would exceed its highest level ever in 2017 by about $ 1,000.

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