Bitcoin Dominates While Altcoins Try to Keep Up

By Nicolas Abington | Crescent City Capital Market Analyst Intern

Bitcoin dominance hits 26 month high as it achieves 71% of Crypto market capitalization, a bullish signal that was last seen when bitcoin prices were approximately $1290 per ₿1.Bitcoin has been on a steady increase in dominance since it broke a previous barrier of 69% towards the end of August.   

As momentum builds for Bitcoin, Altcoins are suffering major losses in value from -1.62% changes to as much as -18.96% over the past month. These things considered we have to realize the vast power Bitcoin is currently displaying over the crypto market and should watch Altcoins closely as this trend continues.