For many years, the formation of the market of digital currencies raised the question of the dominance of the main cryptocurrency – Bitcoin (BTC). In particular, users wondered if altcoins are able to take independent positions, having ceased to correlate with the price movement of bitcoin.
Price spikes Bitcoins and the so-called seasonal altkoinov often opposed to each other. In the meantime, the market capitalization of digital gold convincingly suggests that the position of the coin is more than solid – dominance is 58.5% with a market capitalization of $ 189 billion.
To answer this question on behalf of large participants in cryptospace, Binance Research conducted a survey on the expected dominance of Bitcoin.
The study was conducted in May 2019, the institutional and VIP clients of the exchange were among the respondents.
- The majority of participants (more than 50%) are inclined to believe that until the end of this year the dominance of BTC will remain in the range of 40-60%.
- Slightly less than 30% believe that it will increase to 60-80%, the last time such high rates were noted in April 2017, when the coin was trading at a price higher than $ 1,500 per coin.
- Less than one tenth of institutional investors believe in reducing the share of BTC to 20-40%, which was noted in May 2018 at the beginning of cryptozymes.
The report also states that respondents consider the most “undervalued segment in the digital assets industry":
- blockchain infrastructure (42% of respondents think so),
- cryptocurrency savings properties (32%),
- services based on blockchain (15%), for example, dApps.
Publication date 24.06.2019
Share this material on social networks and leave your opinion in the comments below.
