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Bitcoin (BTC) Dominance Hits Highest Level Since Last Crypto Bull Run to $20K in December 2017

May 09, 2019

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Bitcoin is currently trading at $6,084, after cracking $6,000 and touching $6,115 on Wednesday to reach an all-time high for the year. It marks the first time BTC has reached this level since November 2018.

According to price tracker CoinMarketCap, the world’s number one cryptocurrency now commands 57.26% of the market at time of writing, its highest level since December 2017 when Bitcoin captured 66.52% of the market during its rally to an all-time high of $20,000.

Percentage of Total Market Capitalization (Dominance)
Source: CoinMarketCap

As Bitcoin’s rally continues, crypto traders are pushing top altcoins into the red. All are posting declines in the last 24 hours, including Ethereum, which is down .71% to $168, and XRP, which is down .65% to $.2985.

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The crypto analysis platform Trading Room told its 69,000 followers the relatively slow pace for altcoins will likely continue until Bitcoin cools down.

Big Picture#Bitcoin surged to a new 2019 High while ALTs continued their bleeding

New 2019 low for $BTC paired frontline ALTs$XRP $ADA $XLM $TRX $XMR $DASH $IOTA $ETC $NEO $ZEC $ZRX $ICX $ZIL$BTC dominance at almost 18 month high now

ALTs are melting down across the board pic.twitter.com/L5y4FJZ6Ad

— Trading Room (@tradingroomapp) May 9, 2019

Bitcoin’s total market cap has risen to $107 billion, up 63.11% from $65.6 billion since January 1st, 2019.

BTC’s boom has helped lift the total crypto market cap of all cryptocurrencies to $186 billion, up 47.35% year-to-date, from $126 billion.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.