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What may Bitcoin Dominance Say about Future Coin Price?
Editorial Team

Evaluation of historical trends may help investors predict how the markets may perform in the future. Lessons can be learned from the history.

If we look back at the history of Bitcoin dominance and compare it to today, there is no reason Bitcoin cannot hit $20,000 again soon, as the publication of CryptoDaily.com proves.

Data from Coinmarketcap.com

Looking at this chat, the spike around December 2017 came at the same time as the market surge, which saw Bitcoin shoot up towards its all-time high, just shy of $20,000.  Since then, we have not observed Bitcoin dominance at a higher level than it is today. Seeing that the Bitcoin dominance continues to rise, we could argue that a repeat of the trend could happen here.

Again, referring to the chart sits just below 50% between September 2017 and November 2017. Likewise, Bitcoin dominance sits just below 50% between the end of June 2018 and throughout July. At the time of writing, Bitcoin dominance is at 47.6%.

At its highest level, Bitcoin dominance reached 65, 54% (after dominance declined from a number of years of over 75% prior to the rise in altcoins during March 2017).

Now, we are less than 20% away from Bitcoin reaching that high for dominance once again. If history is to go by, then we can expect a surge in the value of Bitcoin to happen sooner, rather than later.

The higher the Bitcoin dominance, the higher the possibility of a bull run. If dominance breaches 50% and moves up towards 60% a Bull Run could very well pull Bitcoin up to values exceeding $15,000.00. As Bitcoin is holding such a tight grip over the markets, it is expected that the rest of the markets to follow as well.

Although figures and charts may not be a panacea, Bitcoin dominance could be a key element for investors.

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