Markets Update: Bitcoin’s Price and Market Share Dominance Declines

[jamie.redman1]

A lot has changed in regards to the price of bitcoin over the course of the past week. Since our last markets report, bitcoin markets have seen quite a few price fluctuations as the cryptocurrency’s future value remains uncertain.

If one were to ignore the scaling debate this week and focus the attention entirely on cryptocurrency markets, one would notice last week’s bitcoin price movements were just as hectic. Currently, the price per bitcoin is US$990, after losing roughly $70 dollars in value over the past 24 hours. Just one week ago, on March 16, bitcoin’s price was coasting along at $1,215-1,235 per BTC – but it took a significant dive the following day. The bearish downturn continued until March 18, hitting a low of $950 per BTC, which turned out to be the week’s price floor so far.

Overall the entire market capitalization of all the existing cryptocurrencies combined has increased to over $23 billion. However bitcoin’s market dominance, the total amount of market share BTC holds compared to all the other alternative digital assets, stands at its lowest point ever. In fact, altcoins now hold more than 30 percent of the total market share, with bitcoin only grasping 68 percent of the entire market capitalization value.

Read More Here: https://news.bitcoin.com/markets-update ... -declines/