Bitcoin reaches 50% market dominance for first time in 2 years

📆 6/20/2023 3:54 AM
📰 Cointelegraph

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Bitcoin accounted for 50% of the total value of the entire crypto market for a brief moment on June 19, as increasing regulatory scrutiny of other cryptocurrencies sent investors piling back into BTC.

steady around the 20% mark for the better part of a year. Currently, the combined value of Bitcoin and Ether now accounts for roughly 70% of the entire crypto market.

MicroStrategy co-founder and outspoken Bitcoin bull Michael Saylor believes that Bitcoin’s market dominance will top 80% in the coming years, as increasing regulatory pressure from the Securities and Exchange Commission causes stablecoins and

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This means that BTC alone accounts for half of crypto’s total $1.1 trillion dollar market capitalization. Bitcoin’s current market capitalization stands at $519 billion, according to data from Coingecko.

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