So the market cap has reached another milestone-800 billion, even though the bitcoin dominance is still only at 36%!
Well, it means that there are more and more people coming into crypto, taking it a step closer to being main stream. Either that or billionaires are dropping a lot of money into it, which is also a possible reason. All in all it basically means that the prices of most coins will keep rising as the market cap rises, basically making crypto investing a really good way to use your money.
During the past week only, the market cap has risen almost 250 billion, which is 45%! That is an immense number, especially since that means that most coins have experienced major gains.
In my opinion, definitely. As crypto currencies become more and more mainstream, more people will be investing in them. Imagine if in year 2050, everyone would be using crypto currencies. The market cap would be huge ! I think that investing in crypto is an amazing opportunity right now if you are willing to invest a little bit of time and money into it! I think it could be even 1000x or maybe even 10000x bigger than it is now. Maybe even that is an underestimation, seeing how fast it is rising.
I think that it could definitely return to around 40%-45% dominance, increasing the price by a decent amount, but seeing how well all the other currencies are doing, I doubt that it would go back to 50% or above. It just seems like a thing that is very improbable right now with ripple being in the spotlight and everyone talking so much about it.
Disclaimer: I am not a financial adviser, just a friendly duk, and am not telling you to pour your money into anything. Take everything with a grain of salt.
I do not think that the BTC dominance will rise over 45% again...
BTC has not enough good characteristics...
If the lightning network is implemented, it would change a lot though!
I have seen this cycle before! I am pretty sure bitcoin dominance will go back to 50% within 6 months or less.
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