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 <p>Bitcoin has reasserted its dominance over the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency markets, with its market share rising above 49% this week for the first time since April 2021.</p>
 <p>According to data from The Block, <a rel="noopener noreferrer nofollow" title="bitcoin" href="https://thebittimes.com/tag/bitcoin.html">bitcoin</a>’s share of the total <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market capitalization has steadily climbed this year, starting in 2023 at around 38% before surging to 48.85% on October 21st.</p>
 <p><strong>Also read: Shiba Inu Price Prediction (SHIB): October End 2023</strong></p>
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 <h2 class="wp-block-heading" id="h-bitcoin-prices-up-by-71-for-the-year">Bitcoin prices up by 71% for the year</h2>
 <p>While the overall <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market has declined in value, BTC prices are still up 71% for the year.</p>
 <p><strong>“Bitcoin is holding strong in current market conditions and has actually been performing well for much of this week,” </strong>said Rebecca Stevens of The Block Research.</p>
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 <p>Many investors appear to be minimizing risk by piling into bitcoin as global uncertainty intensifies, according to Stevens. Surging inflation, geopolitical tensions, and political strife continue to rattle traditional markets.</p>
 <p>With its brand power and narrative as “digital gold,” bitcoin is seen as a hedge against the turmoil. Some believe it could soon get approval for a spot ETF in the U.S. This could further cement its status as crypto’s gold standard.</p>
 <p>Whether BTC can maintain its newly elevated long-term status remains to be seen. But for now, the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> king has reclaimed its throne after a multi-year absence.</p>
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<div class="cs-entry__tags">
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  <li>bitcoin</li>
  <li>btc</li>
  <li>crypto</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-regains-crypto-dominance-with-over-2-year-high-tbt67302.html">https://thebittimes.com/bitcoin-regains-crypto-dominance-with-over-2-year-high-tbt67302.html</a></p>

Bitcoin Regains Crypto Dominance with Over 2-Year High

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