Since the beginning of this year, many digital asset investors and crypto experts have been asking many questions. Some of the questions they ask are “will crypto every increase,” “when is the next crypto bull run,” “what is Bitcoin price prediction 2019,” and more. While no one knows when the next crypto bull run and Bitcoin bull run will start, the crypto market has been improving lately.
The past month, March, seems to be the best the crypto market has seen since the beginning of this year. At the end of March, the total market cap increased by 16%, surging to $145 billion from $125 billion in January. The daily trading volume of cryptocurrency has also increased to over $30 billion at the moment, from about $13 billion in January this year.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin Dominance Reduces to 50%, Giving Way to the Altcoin Market
Bitcoin (BTC) is the most dominant digital currency in the world. It is also the largest digital currency when it comes to market cap. However, Bitcoin dominance recently dropped to about 50%. Late last year, Bitcoin dominance was about 60 percent. However, the altcoin market is now gradually gaining dominance in the crypto space. Bitcoin dominance is reducing while some altcoins are seeing an increase in their dominance levels.
The 50% range is the lowest dominance level Bitcoin (BTC) has attained over the past seven months. The digital currency is even facing stiff resistance, and it ha failed to break over the $4,200 resistance level over the past four months. Ethereum and XRP, which are the second and third largest digital currency by market cap respectively, are also seeing a decrease in dominance level. Ethereum dominance has reduced to ten percent while XRP dominance has reduced to nine percent.
Crypto 2019: The Altcoins Dominating the Crypto Market 2019
Some altcoins (alternative coins) have been making the moves and driving the crypto market 2019. Binance Coin (BNB) has been one of the biggest movers so far this year. The digital currency has seen an increase of more than 180 percent, surging from $6 to more than $17. Litecoin price has also doubled in the first quarter of this year. Litecoin price started this year around the $30 level. By the end of March, the digital currency is trading over the $60 level.
The daily trading volume of Litecoin (LTC) has also surged from $350 million to $1.86 billion. Litecoin is now battling with EOS (EOS) to take over the 4th position on the list of top digital currencies in the market. Tezos is another altcoin that has seen an increase of more than 100 percent over the past three months. The altcoin amassed most of its gains during the recent Coinbase driven spurt. Tezos began this year around the 47 cents level; the altcoin is now trading over $1 after an increase of about 125 percent.
Ontology is also among the top movers this year. The altcoin started the year around the 60 cents level. However, it ended the first quarter of this year around the $1.30 level. Altcoins in the crypto market are gradually gaining grounds in the market share. Even with the bullish Tim Draper Bitcoin price prediction 2019 and the imminent crypto bull run, these altcoins seems to be outperforming Bitcoin (BTC). The next crypto bull run will even send the value of these coins higher and test new record highs