Bitcoin has become uninteresting to speculators
The cryptocurrency market continues to grow slowly. Total capitalization of $216 billion, during the day, the market gained almost $6 billion. But unlike previous periods, the reason for this growth is the number one currency – Bitcoin.
The dominance of BTC fell slightly, and now the share of BTC is 52% of the market as a whole. In the absence of a significant reason relating to bitcoin, and in comparison with the September indicators of dominance at the level of 57%, a decline of 5% causes a strong reaction of the media who write about the “redistribution of the market” and that “bitcoin has failed”.
But to say that bitcoin is losing ground, not quite correct. The range of Dominance of BTC is held in the area 51 to 57% since mid-August. With may, the share of Bitcoin has grown substantially, adding about 15% – from 36% to 51% respectively.
While Bitcoin is “in limbo” amid expectations the issue with the receipt of institutional funding, altcoins are more volatile.
So, for a week of active growth was shown by Ripple (+20%), on the causes and future prospects of whom I wrote in previous reviews.
But even more impressive growth, quite in the spirit of “old times” demonstrated Bitcoin Cash, up +54% growth for the week. The reason for this growth was the coming hardwork coins, which will be supported by the exchange Poloniex. That is, the exchange will give trading access to two coins, if the result of the hard forks will be a new token.
Hardwork scheduled for November 15. After this date, the network Aldona can be divided as two teams of developers are incompatible with each other customers SV Bitcoin and Bitcoin ABC.
Major crypto currency exchange such as Coinbase, OKEx and Binance already announced its readiness to support the software Bitcoin ABC. And Poloniex went the other way – its representatives has announced that it will support both token because only the community should decide which network support, and the exchange must remain neutral. By the way, with such neutrality Poloniex will be able to increase the share of Commission and, therefore, to obtain additional profit.
“International Financial Center”