Has Altseason Begun as Bitcoin Dominance Begins to Dwindle?

What goes up must come down, or so the saying goes. Bitcoin’s epic ride over the past two months has seen it over double in price. Most of those gains have been at the expense of the altcoins, many of which have been lack luster lately. That could all be about to change as we gear up for altseason.
Bitcoin Dominance Dropping
One strong indicator that altcoins are about to make a revival is the fall in Bitcoin market dominance. Today it has fallen back to 55.3 percent, its lowest level since the beginning of the month. BTC dominance is still up compared to earlier this year but the slow decline could be a sign of altcoin resurgence.
Back before there was a plethora of stablecoins traders would convert from BTC to alts and vice versa, the two were inversely correlated. This may be starting to happen again, especially if confidence in Tether has fallen due to recent developments. Trader Josh Rager has also noticed the decline but maintains that it will not be altseason until dominance drops below 50 percent;
“% of $BTC dominance continues to slowly move down over the past 3 days. This is good for alts. I’m in $EOS which continues to make higher highs in USD and BTC. Nowhere near alt season yet (needs to break below 50% dominance) but good for trade setups,”

$BTC Dominance and $ALTs
% of $BTC dominance continues to slowly move down over the past 3 days
This is good for alts
I'm in $EOS which continues to make higher highs in USD and BTC
No where near alt season yet (needs to break below 50% dominance) but good for trade setups pic.twitter.com/8ul48aVV4q
— Josh Rager (@Josh_Rager) May 29, 2019

The discussion that followed indicated that this could happen as soon as next month, especially if Bitcoin pulls back sharply as expected. Rager has also recently tweeted about a possible 30 percent correction for BTC, which he notes has happened eight times during the last uptrend. If this happens soon it could dump Bitcoin all the way back to $6,000 which is also where major support lies.
Altcoins Starting to Pump
This would be very good for altcoins, some of which are already starting to take off. EOS has been mentioned above and that would not be a bad choice at the moment considering there is a big event and well hyped mystery announcement approaching at the weekend. The B1 event in Washington on June 1 is likely to induce more fomo for the Ethereum rivaling token which has already pumped 70 percent since the beginning of May.
EOS is still 60 percent down from its all-time high so a sub $10 price would not be considered a bad entry. EOS has ambitions to beat Ethereum and if that reality ever plays out the tokens may never be this low again. Remember, ETH was priced at below $10 in January 2017.
The other altcoin on a flyer today is Bitcoin SV which has doubled in price overnight. This, it turns out, has been a manipulated pump by scammers publishing fake news claiming that Craig Wright had transferred Bitcoin from the so-called Satoshi wallets to prove his identity.
Either way, the altcoins are waking up and when Bitcoin takes a breather some of them are likely to surge much higher than they are today.
Image from Shutterstock
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Crypto Market Wrap: Bitcoin Drives Markets Higher as Dominance Approaches 55%

Crypto markets moving up this Friday; Bitcoin leading the pack, Cosmos still climbing, BNB and Tezos doing well.
Market Wrap
Following a week of consolidation crypto markets have started to move again as Bitcoin grinds ever higher. The Friday momentum has pushed total market capitalization back towards the top of its trading range at $180 billion. Heavy resistance resides here though so further gains may not be forthcoming so quickly.
A couple of hours ago Bitcoin hit an intraday high of $5,550 adding nearly 3 percent on the day which is the highest it has managed for over a week. Heavy resistance in the form of the 50 week MA sits above it at $5,600 and it will be a challenge for BTC to break that. At the moment though, the sentiment is bullish.

Fullish pic.twitter.com/FoDzEKqBdS
— Alex Krüger (@krugermacro) May 3, 2019

Ethereum has inched up a little in the shadow of its big brother. ETH is currently trading at $164 adding a couple of percent on the day. Ethereum has remained bearish for the past couple weeks despite a number of positive developments.
The top ten is largely in the green at the time of writing during morning trading in Asia. The biggest move has been made by Binance Coin which has added a further 7 percent on the day to reach $23.40. The rest are adding a couple of percent on the tail of Bitcoin aside from XRP and Stellar which are flat or in decline.
The top twenty is a little more mixed at the moment. Cosmos and Tezos are streaking out ahead with 13 and 8 percent added respectively as these two jostle for fifteenth place. Maker has also woken up again gaining 4 percent today knocking Ontology out of the top twenty.
FOMO: Cosmos Comes From Nowhere
When Coinmarketcap counted the circulation of ATOM tokens it instantly jumped into the top twenty. A subsequent Binance listing has kept the fomo going for this project which calls itself a “decentralized network of independent parallel blockchains.” It seems that as markets in general are picking up people are looking for the next newest thing for their fomo and Cosmos seems to be it at the moment. ATOM is currently priced at $4.90, up 13 percent on the day.
Aside from XTZ and BNB, ABBC Coin and OmiseGO are having good runs at the moment with 6 – 7 percent gains on the day. There are no double digit dumps at the messy end of the top one hundred but PAI and MXM are down there dropping over 6 percent each today.
Total market capitalization 24 hours. Coinmarketcap.com
Total crypto market capitalization has gained a further $4 billion on the day, or 2.3 percent. It is currently at $179 billion and approaching the top of the present trading range. Bitcoin continues to dominate things as its own market share has increased to 54.8 percent, its highest level this year.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Bitcoin Eats Altcoins as Dominance Hits 4 Month High

Crypto markets pulling back; Bitcoin dominance rising, BNB and Cardano falling, BAT getting attention.
Market Wrap
Crypto markets have held gains largely thanks to Bitcoin’s rally yesterday. Total market capitalization remains over $180 billion at the time of writing as BTC eats into the altcoins while its dominance climbs to the highest levels this year.
Bitcoin surged through $5,600 yesterday and spent most of the past 24 hours above it. It has started to pull back now though in early Asian trading and was sitting around $5,550 this morning. Volume is currently at a weekly high of $16 billion and momentum has remained with BTC which has increased its total market share. Analysts are expecting a pullback but the correction should not be too severe;

$BTC Daily Chart.
There are multiple Fib clusters lined up at the 5850 area. Not to mention that it rejected at the 127.2 retrace today. IMO, getting close to a local top. Not saying to sell all out, but if me, I would reduce exposure and see what the correction looks like. pic.twitter.com/VP6ZpTIQUN
— CryptoFibonacci (@CryptoFib) April 24, 2019

Ethereum has dropped back to just below $170, it did not react with BTC this time and has remained pretty flat over the past week or so. ETH is falling back to last week’s levels as all gains get wiped out.
Altcoins have not rallied this time around and the top ten is all red today. The biggest two losers are Binance Coin and Cardano which have dumped 6 to 7 percent on the day. The rest have slumped 2 to 4 percent as traders move into Bitcoin or back into stablecoins.
There are only a couple of beacons of green in the top twenty at the time of writing. Monero and Tezos have made marginal gains but all those around them have fallen back. IOTA, Ethereum Classic and Ontology have dumped hard dropping over 6 percent each. The rest are losing 3 to 5 percent during early trading this Wednesday.
FOMO: BAT Back At It
There are no major pumps going on in the top one hundred at the moment but the best performing altcoin is Basic Attention Token after a few days of declines. BAT is up 9 percent on the day to reach an intraday high of $0.45. Brave browser ads have gone live according to the Reddit which has driven momentum for BAT again.
Aurora and NULS are making around 8 percent today but there are no double digit gains as most altcoins are getting eaten by Bitcoin. The biggest loser today is yesterday’s fomo coin, DigixDAO dropping 17 percent. Digitex Futures and Revain are also getting dumped doubles today.
Total market cap 24 hours. Coinmarketcap.com
Total market capitalization has corrected a little back to $181 billion. Most of yesterday’s gains have been lost by altcoins but Bitcoin is holding on to them at the moment. Market dominance has risen to a four month high of 54.2 percent as Bitcoin controls the markets at the moment.
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Crypto Market Wrap: Bitcoin Driving Momentum as Dominance Hits 2 Month High

Crypto markets are back in the green; Bitcoin leading them, Monero, Tezos and BAT top performers.
Market Wrap
Crypto markets are back in the green following a day that looked like a bigger dump was about to unfold. Markets had the jitters following the Binance BSV bashing but they quickly recovered and $5 billion or so has returned to crypto assets pushing total capitalization back over $175 billion again.
Bitcoin is leading the charge as it jumps over 3 percent to reach a five day high of $5,270 before a minor retreat. The next major resistance level for BTC is at $5,400 where it hit last Thursday. A break through this will lead on to higher highs and the rest of the market is likely to follow.
Ethereum has mirrored the gains of its big brother with 3 percent also to reach $167. There have been no independent movements for ETH since the rally a week ago. It is playing the digital sheep right now and copying Bitcoin.
The top ten is pretty much all in the green during the day’s Asian trading session though gains are mixed. The top performer is Binance Coin which has added 4.5 percent to reach $19.75, a three month high. The rest have made a percent or two as BTC pulls them up.
The top twenty paints a similar picture with the exception of two altcoins.  Tezos is pumping ten percent as it reaches $1.16. The momentum appears to be coming from the French finance minister’s public endorsement of XTZ a couple of days ago;

"I am thinking in particular of Tezos which allows the development of a blockchain protocol overcoming the known defects of public blockchains."@BrunoLeMaire, France Minister of the Economy and Finance in interview to @MagazineCapital #Tezos $XTZhttps://t.co/5jRz3N9MkX
— Tezos Announcements (@tezosbulletin) April 15, 2019

Monero is also having a strong run now as it adds 6 percent climbing to $68. Ontology also doing well with over 4 percent on the day and as expected BSV is still falling back, now down to $56.
FOMO: BAT Getting Attention
Today’s fomo spike is BAT which has jumped 12% on the day as volume ramps up to $50 million. More progress and adoption for the Brave browser and BAT micropayments is adding to the momentum.

Great to see @internetarchive receive "more than 9k Brave Attention Tokens (BAT) – the equivalent of $2500 USD! Every little bit makes a big difference." https://t.co/3FBLhUvnBb
— BasicAttentionToken (@AttentionToken) April 15, 2019

Aside from Tezos there are a few other altcoins doing well today and the include Status, Theta, WAX and Enjin Coin. ABBC Coin is the only one getting dumped at the moment as it loses 8 percent on the day. There are a few that are flat but the majority are gaining at the moment.
Total market cap 24 hours. Coinmarkertcap.com
Total crypto market capitalization has reached $176 billion following a gain of around $4 billion. Bitcoin is solely responsible for the current momentum and that has been reflected in its market dominance which has increased to 52.4%, its highest for two months.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Altcoins Leading as Bitcoin Dominance Drops to 50%

Crypto markets making steady gains; Dash, Monero, and Tezos moving well,  Bitcoin down to 50% dominance.
Market Wrap
Crypto markets are holding steady and even showing signs of further gains this Monday morning. There was little activity over the weekend but total market capitalization remained at its highest level for a month and has just pushed above $145 billion.
Bitcoin’s resistance battle continues as it slowly inches towards critical levels. BTC has just moved towards its highest price over the past 24 hours which is $4,130. The trend has been positive for the past couple of weeks and all hopes are that BTC can break through to reach the next pivotal point at $4,400.
The Ethereum chart has mirrored Bitcoin over the past two days so it too is up marginally at the moment. ETH has reached $142 as market cap exceeds $15 billion once again. XRP is slipping further back by the day with virtually no movement from $0.310.
The top ten is mostly green during the day’s Asian trading session. EOS is holding a slim lead over Litecoin with a 2% gain on the day to $4.20. Stellar has also crept up a similar amount to reach $0.109 and the rest are similar to yesterday’s levels.
In the top twenty Dash has flipped Monero with a 10% pump on the day to $112. South Koreans are buying up Dash at the moment as Bithumb leads with over 32% of the total volume in KRW. ElectroPay has released its first set of crypto keypads with Dash support which will increase adoption for merchant payments;

Our first batch of Keypads are done. Each unit will be able to accept up to 8 different types of crypto out of a list with almost 200 tokens and of course our favorite @Dashpay . pic.twitter.com/0Lpk6sPj9G
— EletroPay (@PayEletro) April 1, 2019

Monero has made 7% but not enough to prevent the Dash takeover. Tezos continues its climb with another 7% added today enabling XTZ to flip Maker for sixteenth spot as its market cap exceeds $700 million. Ontology is also mirroring the move with a gain of 5.5% on the day as it pulls away from NEO and BAT is performing well with over 9% gained.
FOMO: TTC Protocol Pumps
The fomo pump of the day goes to TTC which has jumped 32% to enter the top one hundred. The mainnet Rigi launch and a listing on Upbit has driven momentum for this incentivized social networking and sustainable token economy platform.
Loom Network is also getting a lift as it surges 17% and Nano is the third best performer in the top one hundred at the moment with a gain of 11%. Dumps are pretty predictable and are usually yesterday’s pump. Bibox Token is true to this pattern dropping 11% as is ABBC Coin, the only two altcoins dumping double digits.
Total market cap 24 hours. Coinmarketcap.com
Around $2 billion has been added to crypto markets over the past 24 hours as total cap reaches $145 billion. Daily volume is still at $32 billion and a slow and steady uptrend has formed over the past month. Bitcoin dominance is at its lowest level for seven months as it drops to 50%, and the altcoins are leading the charge.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Bitcoin Dominance Hits Seven Month Low, About to Drop Below 50%

Crypto markets cooling as the week ends; Cardano, Tezos and BAT climbing, Maker pulling back.
Market Wrap
Crypto markets are ending the week on a high but it remains to be seen if the momentum will continue into the weekend. Total market capitalization has remained over $140 billion but resistance levels still appear too strong for the majors to overcome.
Bitcoin hit an intraday high of $4,090 a couple of hours ago before sharply pulling back again as if stung by this price. It is currently trading at $4,040 which is pretty much where it was this time yesterday. On the week BTC is marginally higher but it still cannot overcome this resistance barrier as its market dominance continues to get eaten away by altcoins.
Ethereum is still stuck at $138, immobile over the past 24 hours and the best part of the past week. Market cap remains at $14.5 billion and there has been little activity for ETH for a while now. Likewise with XRP which still stuck at $0.308 and trading sideways.
The top ten has turned red over the past couple of hours of Asian trading, though declines are marginal. The only altcoin in the green is Cardano which has held on to its top ten position with a further gain of 4% on the day to take ADA to $0.068 (1700 satoshis). Despite being one of the biggest losers in the bear marker the Cardano team have soldiered on with IOHK Founder Charles Hoskinson making several public appearances to bolster the industry and project. The rest of the top ten has dipped a percent or so since yesterday and EOS is cooling off after its solid run this week.
Tezos is one of the few altcoins in the top twenty posting a gain on the day as XTZ adds 6% taking price to $0.803. Over the past month Tezos has doubled in price and climbed the market cap chart to its current spot at 19th. Dash has also made a little today with 1.8% gained while those around it are dropping back a little. Maker has dumped the most losing 6% over the past 24 hours.
FOMO: Repo Reaping It
The top performer in the top one hundred at the time of writing is REPO with a 16% gain to $0.547. The chart spikes look very unnatural however so this one is likely to dump just as quickly. There have been no updates to the official twitter feed for Repo Coin for over a month. KuCoin Shares and BAT are the only other two altcoins with double digit gains at the moment as both climb by 11%.
Decentraland is falling hard with 17% lost over the past 24 hours as it dumps yesterday’s pump. ABBC Coin is the only big loser today with a 10% slide.
Bitcoin market dominance 12 months. Coinmarketcap.com
Total market capitalization has lost a billion dollars over the past day and is down to $141 billion. A couple of ominous looking chart spikes were quickly countered but markets are still up marginally from this time last Friday. Daily volume is around $32 billion as Bitcoin’s dominance continues to fall closer to that 50% level hitting its lowest point since August 2018.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Wrap: Bitcoin Dominance Falls to 2019 Low, Has Altcoin Season Begun?

Crypto markets being driven by altcoins; Cardano, NEM and CRO Cranking, Bitcoin dominance diminishing.
Market Wrap
Crypto markets are still consolidating as we round off another week. Volume has crept up a little and a slow uptrend has formed over the past couple of days as major crypto assets hit resistance levels. Total market capitalization has made it over $135 billion for the past few hours.
Bitcoin has moved very little over the past 24 hours. BTC hit an intraday high of $3,945 before instantly dumping to $3,900 then slowly building back up to $3,920 where it currently trades. Volume is back over $10 billion and key technical indicators such as MACD and hourly RSI are in the bullish zone.
Ethereum, which has been slowly sliding back all week, has made a percent on the day taking it to $135. The move has taken ETH through the weekly down trend line so further momentum could follow, especially if Bitcoin turns bullish. XRP has made a minor loss on the day dropping back to $0.311.
The top ten is pretty mixed at the time of writing but gains are no more than a percent or so for those in the green. Stellar, which recently flipped Tether for eighth spot, has dumped 4% on the day dropping market cap back to $2 billion. XLM is about to drop back down the charts as it falls to $0.105.
There is a lot more green in the top twenty during today’s Asian trading session. Larger gains have been made by Cardano as ADA climbs 5.5% to $0.049. NEM is also having a big pump with around 9% added on the day to take the token to $0.050. A possible link between NEM Malaysia and Air Asia could be driving the fomo.

During the panel discussion, #NEM Malaysia Investments and Strategy Director Jasmine Ng said while investments to explore blockchain’s implementation in businesses could be costly, she said there is a huge potential upside. Read the full story herehttps://t.co/b6TzgGsiGu
— NEM (@NEMofficial) March 13, 2019

IOTA, NEO and Ethereum Classic have all made over 3% in the past 24 hours as ‘altseason’ gathers momentum.
FOMO: Crypto.com Chain Still Pumping
Crypto.com Chain has continued its epic surge adding another 50% as it nears the top twenty. Over the past week CRO has made an epic 900% pumping from $0.013 to $0.092. Today’s surge has been driving by a listing on Upbit;

The @cryptocom Chain ($CRO) Token will be listed today on @UPbitExchange! Open-source of @Cryptocom Chain Testnet v0.1 scheduled on Wednesday, March 20th. Read more here – https://t.co/udc2IYExCN pic.twitter.com/9zHqMf9MCV
— Crypto.com (@cryptocom) March 15, 2019

Also having a good run today is Lisk and Digitex Futures, both pumping 17% on the day. Crypto.com’s other token, MCO is also up 17% at the moment. REPO is well in the red right now and is the top one hundred’s worst performing altcoin with a dump of 10%, Electroneum is not far behind losing 8% today.
Total market cap 24 hours. Coinmarketcap.com
Total market capitalization has remained over $135 billion adding a billion dollars since the same time yesterday. Daily volume is building and is now at $33 billion as altcoins lead markets at the moment. Bitcoin dominance has fallen to its lowest level this year as it sinks to 50.9% while the altcoins continue to strengthen.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Crypto Market Update: Bitcoin Dominance Slips as Ethereum Recovers

FOMO Moments
Crypto markets moving slowly higher; Ethereum leading, Iota, Monero and Maker doing well.
Crypto markets have continued their slow march upwards for another day. Gains are minimal but digital currencies are gaining at the moment as total market capitalization stays above $130 billion.
Bitcoin has crept up 1.7% on the day to just below $3,900 at the time of writing. It reached an intraday high of $3,950 a few hours ago before pulling back slightly. Daily volume has increased by a billion dollars to $5.2 billion and the trend since new year’s day has been positive.
Ethereum is leading the pack today with a solid 8% gain to take it over $155. ETH has remained ahead of XRP and held on to second spot, increasing that gap to $1 billion in market capitalization. The upcoming Constantinople hard fork and network upgrade is likely to spell further gains for Ethereum.
The top ten altcoins are all in the green for the third day of the year at the moment. Aside from ETH, EOS has made the best gain during the day’s Asian trading session with 6.2%. This has enabled it to extend the lead over Stellar in sixth which has only made 1.2%. Litecoin is up almost 4% as it approaches a market cap of $2 billion.
The top twenty is also all green at the time of writing with Maker leading the way adding over 6% to take it close to $500. Iota and Monero are also getting solid gains of over 5% right now and the rest are climbing 1-3 percent on the day.
Today’s big pump is Chainlink which has made 20% topping the top one hundred in terms of performance at the moment. Augur and Dentacoin are also doing well with 14% added on the day. Getting bashed is Digitex Futures dumping 15%, the only altcoins losing double digits at the time of writing.

Total crypto market capitalization has increased by a further 3% on the day taking it to $133 billion. Daily trade volume has also seen a healthy gain from $13 to $17 billion and a steady uptrend is forming. On the week markets have recovered by 4.7% and they are at the same levels as they were this time last month. Bitcoin’s dominance has slipped back to 51% as Ethereum recovers stronger, ETH has increased from below 9 to over 12 percent market dominance in the past two weeks.
FOMO Moments is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Report: Crypto Market To Consist Of 66% Bitcoin in 2019

Bitcoin has long been at the forefront of the crypto market, dominating this 10-year old industry with an iron fist and no holds barred. While it maintained its unquestioned hegemony over the cryptosphere for nearly a decade, as 2017 began, it became clear that something was amok. More specifically, in an industry first, altcoins began to drastically gain in terms of market dominance.
By the end of April 2017, altcoins made up 40% of crypto’s entire market capitalization, up from the 12% seen in January. And just eight months later, at the peak of the so-called “Crypto Bubble,” altcoins held 66% dominance over the crypto market, which, in turn, sent Bitcoin’s share to a measly 33%. At this point, some “altcoin maximalists,” known for their use of buzzwords to laud assets, claimed it was all over for Bitcoin, which was chided as an antiquated blockchain with little-to-zero use cases.
Related Reading: Shark Tank’s Kevin O’Leary Sees Ethereum Beating Bitcoin and Gaining Dominance
However, the original cryptocurrency’s fortunes took a relative turn for the better in early-2018, with altcoins showing signs of weakness after months of non-stop up-and-up. Now, just eleven months after Bitcoin market dominance, the first figure from the right on CoinMarketCap, hit an all-time low at the aforementioned 33%, the figure has stabilized in the 52% to 55% range.
A.T. Kearney Expects Bitcoin To “Reclaim” Two-Thirds Of Crypto Market Cap
Although noise regarding the Bitcoin’s dramatic tumult has recently begun to block out discussion regarding market dominance, a chief fundamental indicator, a recent piece from Forbes indicates the subject remains a hot topic in some circles.
Forbes contributor Panos Mourdoukoutas, whose work NewsBTC has covered in the past, noted that A.T. Kearney, a multinational management consulting firm, expects for Bitcoin market dominance to “nearly” reach two-thirds of the aggregate capitalization of cryptocurrencies. Citing reasons for this ~66% target, which isn’t out of the realm of possibility, the American firm purportedly stated that altcoins have “lost their luster” due to growing risk aversion tactics enlisted by retail investors.
Investors’ growing penchant for liquidating their altcoin positions for Bitcoin can potentially be chalked up to the U.S. SEC’s renewed crackdown on ICO-funded tokens. Just recently, the American financial regulator fined AirFox and Paragon, two lesser-known ICOs, in a precedent-setting case, instilling fear throughout the crypto investor base as a whole. As is common practice, if there aren’t enough rewards to justify the risk, investors won’t allocate capital to the asset class in question. This case with altcoins, a majority of which were parented by ICOs, is undoubtedly no different.
However, A.T. Kearney says this isn’t exactly the case, with the firm drawing attention to the ever-growing complexity of the nascent altcoin subset. Courtney Rickert McCaffrey at A.T. Kearney wrote:
“Our prediction is that Bitcoin will regain its dominance is supported by the ever-growing complexity among altcoins, most recently demonstrated by the ‘hash war’ that occurred in the Bitcoin Cash ecosystem.”
Although this isn’t a well-documented issue, a number of crypto-centric consumers took to Twitter during Bitcoin Cash’s hard fork to express how confusing the whole fracas was. This, of course, only legitimizes the aforementioned firm’s report, albeit only be a smidgen.
A.T. Kearney isn’t alone in touting this train of thought. As reported by NewsBTC in early-August, when Bitcoin market dominance forayed above 50% for the first time in nine months, Tom Lee, head of research of Fundstrat, claimed that investors have decided “Bitcoin is the best house in a tough neighborhood.” He added that with the SEC’s classification of BTC as a commodity, and the focus institutions have placed on Bitcoin in mind, the asset’s return to higher dominance levels is rationalized.
Lee’s comments, issued in August, came just 10 days after Mike Novogratz, CEO of Galaxy Digital, claimed that he didn’t expect for “BTC dominance to pull back any time soon,” also drawing attention to institutional-focused products centered around Bitcoin.

I don’t see $btc dominance pulling back any time soon. Lots of cool institutional projects coming and most will start with bitcoin. Stay long.
— Michael Novogratz (@novogratz) July 31, 2018

Featured Image from Shutterstock
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