{"id":50961,"date":"2021-04-24T13:20:24","date_gmt":"2021-04-24T13:20:24","guid":{"rendered":"https:\/\/timestampmag.com\/?p=50961"},"modified":"2021-04-26T13:28:02","modified_gmt":"2021-04-26T13:28:02","slug":"for-the-first-time-in-three-years-bitcoin-dominance-is-on-the-verge-to-go-below-50","status":"publish","type":"post","link":"https:\/\/timestampmag.com\/2021\/04\/24\/for-the-first-time-in-three-years-bitcoin-dominance-is-on-the-verge-to-go-below-50\/","title":{"rendered":"For the First Time in Three Years, Bitcoin Dominance is on the Verge to go Below 50%"},"content":{"rendered":"
With Bitcoin’s current prices below the $50,000 mark, its dominance in the crypto world is going down. As per on-chain data of Bitcoin, available on CoinMarketCap, Bitcoin held a 50.1% share in the entire cryptocurrency market cap on Thursday.<\/p>\n
Last week has proved to be a lackluster show for Bitcoin traders, with a fall of over 21% in Bitcoin prices. Bitcoin is now down below $50K<\/a> from the highs of over $60K in the past seven days. With this fall, Bitcoin lost a few percentage points in its dominance in the cryptocurrency<\/a> market.<\/p>\n Comparing Bitcoin\u2019s dominance at the beginning of 2021 with its current standing will help us decipher the scenario better. At the time of writing, Bitcoin dominance stands at 51.75%<\/a>, which indicates that Bitcoin has gained 1.5% dominance in 2 days.<\/p>\n On 1st January 2021, Bitcoin Dominance was just below 60%, and so far this year, Bitcoin dominance is down by more than 8 percentage points. There is no doubt that Bitcoin had fantastic growth in 2021. Yet, Bitcoin lost considerable ground this year when it comes to its dominance in the cryptocurrency market.<\/p>\nIs this the Beginning of Alt Season?<\/h2>\n