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In 2016, Bitcoin’s market cap was relatively low compared to what it is today but steadily increasing as the market began to exit a long bear market.

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Total market cap chart as a sound generator from CryptoCurrency The end result is a 45-second audio clip that tells the history of Bitcoin from 2016-2018, in a unique format that has probably not been thought of before this. Redditor synthsucht has used a sound generator program to create a history of Bitcoin’s recent market cap swings. Bitcoin’s Market Cap History Turned into A Symphony This entry was posted in Binance Research, bitcoin, Bitcoin News, dominance, holders, market cap, market share, News on Jby adminbtc. The post Binance: Bitcoin Dominance to Reach 80% in 2020 appeared first on. For more information please read our Editorial Policy here.įollow on Twitter: Alerts from : Image Courtesy: Pixabay A fifth (22%) of all respondents were high-frequency traders, who held positions for an average less than an hour.ī is committed to unbiased news and upholding journalistic codes of ethics. The same survey found that over 56% of significant Bitcoin investors hold positions for an average position of over a week, although many would disagree that this defines them as holders.

According to Binance Research this “illustrates the special status of Bitcoin as the bellwether of the cryptocurrency and digital asset industry”.Īs reported by yesterday, Bitcoin market dominance has already risen above 60% in the midst of this current bull run for the world’s most used crypto, a figure not seen since almost two years ago in 2017.Īccording to figures from CoinMarketCap, dominance, measured by a digital asset’s share of the total crypo market capitalization, is counted only for Bitcoin, and it has been on a slow but steady uptrend since August last year, when it first broke 50% on the way to its current levels.

This signals that most believe it will peak and that altcoins will also have their turn in rising price, just as they did during the last crypto bull run.īut a further 30% predict that this figure will not only maintain this year but rise up in the next year to as high as 80%. In this Q2 survey, it said that more than half of all the VIP and institutional clients it surveyed believed that Bitcoin dominance would be in the 40-60% range by the end of this year alone.

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Binance Research, the research arm of global crypto exchange Binance, has collated a series of predictions that Bitcoin market dominance will reach a figure of around 80% by the year 2020.

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