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Saturday, May 13, 2017

$30 bln Bitcoin Market Cap May Preclude A $2,000 Bitcoin Price Bullrun

$30 bln Bitcoin Market Cap May Preclude A $2,000 Bitcoin Price Bullrun

Bitcoin’s market cap has surpassed the landmark $30 bln while its overall market dominance slips lower than ever.

Recent price growth has resulted in a historic high for Bitcoin’s value metrics, with the currency just $150 off $2,000 as of press time Thursday.

Altcoin fever still abounds, however, with huge strengthening for Ethereum and several others in the top ten pushing Bitcoin’s control of the market to its lowest levels yet seen.

"Cointelegraph previously reported on the gradual slide of Bitcoin’s market cap dominance, which began the year at 87 percent before sliding to 70 percent, 65 percent and now just 56.7 percent."

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