Bitcoin

<p><a href="https://blockchainreporter.net/bitcoin/">Bitcoin</a> is thriving once again as the asset has breached over $27K during the early European <a href="https://blockchainreporter.net/glossary/trading/">trading</a> session. As of the time of writing, BTC was trading at $27,028, representing a 6.5% increase in 24 hours. The market cap has also witnessed a 6.5% increase within the same period, taking it to $549,070,761,254&nbsp; as of writing.&nbsp;</p>



<p>Despite the surge, Bitcoin’s trading volume has registered a 6.80% decrease within the same period.</p>


<div class="wp-block-image">
<figure class="aligncenter size-full"><img decoding="async" loading="lazy" width="909" height="464" src="https://blockchainreporter.net/wp-content/uploads/2023/03/Bitcoin-charts.png" alt="" class="wp-image-38487" srcset="https://blockchainreporter.net/wp-content/uploads/2023/03/Bitcoin-charts.png 909w, https://blockchainreporter.net/wp-content/uploads/2023/03/Bitcoin-charts-300x153.png 300w, https://blockchainreporter.net/wp-content/uploads/2023/03/Bitcoin-charts-768x392.png 768w, https://blockchainreporter.net/wp-content/uploads/2023/03/Bitcoin-charts-150x77.png 150w, https://blockchainreporter.net/wp-content/uploads/2023/03/Bitcoin-charts-750x383.png 750w" sizes="(max-width: 909px) 100vw, 909px" /><figcaption class="wp-element-caption">Bitcoin 24-hour chart source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener">CMC</a></figcaption></figure></div>


<h2 id="why-is-bitcoin-dominating-while-altcoins-face-volatility-5b4020d3-18fb-4914-bce3-d676820ac996">Why is Bitcoin dominating while altcoins face volatility?</h2>



<p>Bitcoin&#8217;s dominance in the cryptocurrency market can be attributed to several factors, including its large user base, strong security, high <a href="https://blockchainreporter.net/glossary/liquidity/">liquidity</a>, brand recognition, and continuous innovation. The network effect of Bitcoin creates a barrier to entry for new cryptocurrencies, and its decentralized <a href="https://blockchainreporter.net/how-can-features-of-blockchain-support-sustainability-efforts/">blockchain technology</a> provides users with confidence in the currency&#8217;s security. Bitcoin&#8217;s liquidity makes it a popular choice for traders and investors, and its well-known brand recognition gives it an advantage over other cryptocurrencies.</p>



<p>Additionally, <a href="https://blockchainreporter.net/bitcoin-dominance-reclaims-june-2022-ath/">as earlier reported by Blockchainreporter</a>, The BTC dominance can also be attributed to the recent US banks’ saga which could be shifting investor confidence to digital gold.</p>



<p>However, the <a href="https://blockchainreporter.net/market/">cryptocurrency market</a> is highly unpredictable, and there is no guarantee that Bitcoin will continue to dominate. New cryptocurrencies may emerge with features or advantages that make them more appealing to users and investors. Therefore, while Bitcoin currently dominates the cryptocurrency market, it is important to keep an eye on emerging cryptocurrencies and developments in the industry.</p>

Bitcoin Reclaims 27K, a Bullish Call?

Table of Contents

BlockchainReporter

Andre artikler udgivet 17. mar. 2023

Neo Releases an Exclusive Encrypted Messaging Forum ‘NeoChat’

Polkadot Dominates in Developer Activity

Can Bitcoin Hit $1 Million In 90 Days?

Why Robo Inu Is the Next Big Thing in Crypto

TaskOn February 2023 Monthly Report

How To Use Baker Beans Miner

Join our free newsletter for daily crypto updates!