Hello Steemians,
as most of the volatility during the last two months was primary due to full market cap - the whole market seemed to be inflicted by the adverse winds coming by bad press AGAINST cryptocurrencies - we see now
a) a quite solid market cap at €378.108.986.133 (solid in the way that it is not bullying hyperbolically) with a
b) BTC dominance of 40.3%:
(Source for all pics is https://coinmarketcap.com, of course)
There is a slight but continuous trend towards bigger dominance of BTC over the last month, whereas conversely, the altcoins slightly lose their influence. It is a very modest effect at the moment, but if this development continues, we could not only get rid of the scammy coins of the 1529 cryptocurrencies mentioned above, but also concolidate BTC even more:
I think that market cap of the whole market is highly underrated when analyzing cryptocurrencies' performances. Still believe that BTC is the benchmark for all competitors and that the rapid distribution of lightning nodes will relatively quickly put it into some pole position, regardless of technical limitations.
Let me know what you think about the current situation of BTC. Feel free to comment and resteem. BEST!
