Cryptocurrency

Bitcoin

when

Zero

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-market-dominance-sparks-debate-among-investors/" data-wpel-link="internal">Bitcoin’s Market Dominance Sparks Debate Among Investors</a> 
<a href="https://coin-turk.com/dev-anket-neden-kripto-para-almiyorsunuz" data-wpel-link="internal">Cryptocurrency</a> markets are witnessing a continued rise led by <a href="https://coin-turk.com/bitcoin-btc-fiyatinin-dusus-sebebi-ortaya-cikti" data-wpel-link="internal">Bitcoin</a>, which keeps many investors happy. During this period, according to many crypto investors, a clear ascending triangle is forming on the <a href="https://en.coin-turk.com/investigation-reveals-no-causality-between-bitcoin-and-bist100-index/" data-wpel-link="internal">Bitcoin</a> dominance chart, indicating a potential increase in Bitcoin’s market share. However, some argue that the trend will move in the opposite direction. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-bitcoin-front">What’s Happening on the Bitcoin Front?</h2> 
<a href="https://en.coin-turk.com/crypto-giant-vaneck-reveals-2024-predictions-for-bitcoin-and-altcoins/" data-wpel-link="internal">Crypto</a> investor and founder of Into The Cryptoverse, Benjamin Cowen, alerted his 810,700 followers in a March 27 post that the Bitcoin dominance train is about to leave the station. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-334331 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/tmc.webp" alt="" width="1127" height="736"> 
An ascending triangle pattern on a chart develops when the price consolidates between an upward trend line support and a horizontal resistance trend line. On March 27, crypto investor Beanie told his 194,800 followers that Bitcoin’s dominance, a measure of Bitcoin’s share of the total crypto market value, has made a significant comeback. 
Beanie argued that Bitcoin’s dominance typically increases during bear markets because crypto-native investors prefer its stability and flock to Bitcoin as a safe haven. Despite Bitcoin reaching an all-time high this month, Beanie added that the current trend reflects the 2018 bear market, stating: 
<blockquote> 
 “This is quite different from the 2021 bull market, where dominance data significantly dropped from 70% to 40%. It actually parallels the 2018-2019 bear market.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="prominent-figure-makes-striking-statement">Prominent Figure Makes Striking Statement</h2> 
While Bitcoin had an 85% market dominance in March 2017, it fell to an all-time low of 32.45% in January 2018. According to data from the analytics platform CoinStats, Bitcoin’s dominance currently stands at 50.1%. 
Not every investor agrees with this view. Some argue that Bitcoin’s market share appears to be decreasing in the long run from a macro perspective. Crypto investor Zero Ika told his 43,500 followers that Bitcoin’s dominance is actually on a long-term downward trend: 
<blockquote> 
 “Considering the logarithmic chart, we can clearly see that <a href="https://en.coin-turk.com/bitcoins-gradual-rise-over-the-weekend-and-market-analysis-2/" data-wpel-link="internal">BTC</a> D. is in a long-term downward trend when we look at the bigger picture.” 
</blockquote> 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-334329 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btcd.webp" alt="" width="1122" height="673"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-market-dominance-sparks-debate-among-investors/" data-wpel-link="internal">Bitcoin’s Market Dominance Sparks Debate Among Investors</a></h5>

Bitcoin’s Market Dominance Sparks Debate Among Investors

Table of Contents

COINTURK NEWS

Other articles published on Mar 28, 2024

7 Tokens Accumulated by Insider Wallets with Potential for 6X Growth

Mike Novogratz Shares Big Bullish Bitcoin (BTC) Statement

DOGE, SHIB Get Margin Boost on Binance: Will it Spark a Rally or Higher Risk

Bitcoin (BTC) next stop is $80,000?

Binance Announced Contract Swapping Support for This Altcoin!

DED Trends on Twitter After Memecoin Snapshot Announcement

Join our free newsletter for daily crypto updates!