Most of the important altcoins of the crypto money market are in decline today. While the status of Bitcoin (BTC) is stable, only Ripple (XRP) among the cryptocurrencies in the top 20 is valued. So what do the experts say about this situation? Will the bad condition of Altcoins provide a positive improvement in the Bitcoin price?
There is no doubt that Bitcoin continues to be the best cryptocurrency in the minds of both investors and those who have not yet entered the cryptocurrency industry. At the time of writing, BTC accounts for 58% of the total market capitalization of cryptocurrencies, followed by Ethereum (ETH) with 12%. Other cryptocurrencies, of course, seem difficult to keep up with Bitcoin, but the leading cryptocurrency’s dominance in terms of market capitalization fell relatively steadily in 2020, starting at 68% the year.
Despite Bitcoin losing its market dominance to this extent, many analysts and investors expect the market dominance of BTC to increase slightly by the end of 2020 and the decline in altcoins will begin. However, the number of those who expect stagnant movement in BTC until the end of 2020 is too high to underestimate.
Does the Market Reminiscent of 2019?
Many different opinions are expressed about the current situation in the crypto money markets. Deep Blue, one of the important names of the local cryptocurrency community, made statements regarding the issue, used the following statements:
“Bitcoin counts down. Altcoins are coming into the ground. There is a situation reminiscent of 2019. “