Now the first cryptocurrency occupies 69.8% of the digital money industry, but in the near future the situation will seriously change, a Coin Metric’s analyst warned.
Bitcoin’s share in the cryptocurrency market will decrease in the near future, an analyst with the nickname Coin Metric’s believes. He studied the domination chart of the main digital coin and found that a short upward correction could be followed by a sharp drop in the index.
At the moment, the share of Bitcoin is 69.9%, a few days ago it exceeded 71%. Now the figure is at record levels for 2019 and 2018, the last time it was as high in March 2017.
According to the dave the wave analyst, in the near future, the cost of Bitcoin will almost double. The expert claims that after this a new parabolic increase in the value of the cryptocurrency will begin, after which it will update the historical maximum of $ 20,000.
Analysts are sure that soon all cryptocurrencies will disappear, only the main digital coin will remain. First, she needs to go up a lot
As bitcoin approaches the $ 100,000 price tag, altcoins will gradually disappear, experts at Heisenberg Capital say. In their opinion, the cryptocurrency market began to reject all digital coins, with the exception of BTC.
Another analyst agreed with the experts but noted that many cryptocurrency projects have strong partnerships and real work tools and products.
The CFTC also launched an investigation at BitMex regarding allegations that the exchange allowed US residents to trade on its platform. These actions seem to have undermined investor confidence in altcoins and led to their poor performance.
Facebook’s disclosure of its Libra token project also excited Bitcoin investors, but the next legislative pressure from US lawmakers seems to have negatively impacted the price of Bitcoin.
In addition, comments by US Treasury Secretary Stephen Mnuchin on strict regulation of bitcoins undermine confidence, as these statements were circulated among the mainstream media.