The domain rate ofIt has shown little sign of slowing as it approaches its fourth weekly green close in a row. The altcoin market could suffer a slight loss if BTC goes on like this.
Bitcoin’s dominance, the metric that weighs its market share against the total, has had a healthy second quarter so far. After making a lot of noise in January with 70% dominance in 2020, Bitcoin dropped to 62% just a month later.
BTC peaked at 69% on May 8, 2020, when the price hit a local high of $ 10,000, but fell somewhat during the following short correction.
At the time of writing, the domain rose again to 68.2%.
Bitcoin’s dominance has become much less volatile, especially in the past year and a half. Since July 2019, the domain has generally fluctuated between 63% and 71%.
The recent halving of Bitcoin’s block reward likely plays a big role in increasing dominance and price. If the trend continues, the altcoin market could experience a major shock in the second half of the year.
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