WHAT IS Bitcoin Dominance Rate?
Think of it like this.
Bitcoin Dominance rate is like a popularity contest among cryptocurrencies.
It measures how much of the total value in the entire crypto market is represented by Bitcoin.
If Bitcoin dominates, it means it has a big share of the overall value in the market.
Ratio of Over 54.4%
The Bitcoin Dominance Rate is over 54%.
This means, if you add up the entire cryptocurrencies total value, more than half of the total belongs to Bitcoin.
Bring on the traders!
With Bitcoin running up again to above $36,000 is attracting more traders and investors.
That’s because when people see Bitcoin doing well, they may feel more confident about the overall health of the crypto market and may be more likely to invest or trade in Bitcoin versus other cryptocurrencies.
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Timon Rossolimos
Founder, MATI Trader
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Timon Rossolimos
Founder, MATI Trader
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