Bitcoin Dominance over Altcoin

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Despite the fall in bitcoin (BTC) price - which some analysts say will be a consequence of the tide for altcoins - the dominance of BTC continues to tick high. When writing this, the major market metric is reaching 70% for the first time in years, meaning that once again, almost all cryptocurrency flows are making their way into leading digital assets. While this metric has seen considerable growth over the past six months, many analysts are currently expecting Bitcoin to hold on to the entire cryptocurrency market, despite technological developments with these projects.

Bitcoin Dominance to Continue to Mount Higher

On Sunday, prominent bitcoins from around the world called in downtown Los Angeles to talk about cryptocurrency at an event hosted by the LA Chargers' Russell Okung. Okung, the last prominent All-Star athlete committed to his loyalty due to cryptocurrency, looks forward to spreading the good news of Bitcoin.

And who else could explain the dynamics of the crypto market than Anthony "Pump" Pompliano?

Half way through the BitcoinIS_ conference, former employees of Silicon Valley have become cryptocurrency investors and podcasters, taking to the stage to talk about a number of issues: why Bitcoin matters, why the Fiat system is cheating on most Americans today and the future of Welcoin.

As someone who is closely following the decline of the Wellcoins, this author's interest is revealed when Pompeiano talks about the subject.

In keeping with the hardline Bitcoin-only line that was offered at the event, the Morgan Creek digital partner has stated that Bitcoin's dominance will only continue to gain steam. While Pompliano did not mention the exact target, he expected his firm's index to naturally plummet toward bitcoin's dominance where it stood at 5% to 95% today.

Analysts attributed everything to gold from its analogy to Bitcoin's tremendous performance, and its potential to serve as a hedge in the current macroeconomic climate, signifies the fact that it will be the only real use area and community within the cryptocurrency project.

This comment was published shortly after he said he believed that "almost every single altcoin would eventually be worthless because there would be no liquidity and they would be listed from the exchange."

Incidentally, the data shows that the market for bitcoin remains very significant. Arcane Crypto has found that if you measure the dominance of a cryptocurrency by weighing market capitalization versus the trading volume of all cryptocurrencies, "Bitcoin's market dominance will be well over 90%."

Altcoin has value (ish)
Although Pompliano and his partners are expecting WellCoin to lose steam against Bitcoin, he noted that there are cases of cryptocurrency use in addition to BTC. An obsolete use case, however one

In response to a inquiry into why Morgan Creek Digital's digital wealth fund has assets such as Ethereum, Litecoin, Bitcoin Cash and Monero, Pomp said:

"We built our business on the idea that hard Bitcoin believers have taken the following cycle: They understand Bitcoin, understand enterprise blockchain, tokenized security, XYZ or whatever, and then they come back to Bitcoin.

We think the best way to prevent them is to say, 'Even if you don't understand the difference between tokens, just accept what the market has given you. "