Bitcoin Regains Over 60% Crypto Market Dominance For First Time in 7 Months

Bitcoin Continues to Reclaim Market Dominance

Bitcoin’s current total market capitalization is more than $126.5 billion USD – currently comprising approximately 62.7% of the $202 billion USD cryptocurrency markets.

At the beginning of 2017 bitcoin had a market dominance of approximately 87% percent, as bitcoin confidently ramped up to test the $1000 USD area for the first time since December 2013. Starting in March, many altcoin markets started to rally, with many leading altcoins making gains of over 1000% in a matter of just weeks. The ensuing altcoin bubble quickly gave birth to an initial coin offering bubble as well – both of which eroded bitcoin’s market dominance, which reached a historic low of just under 40% in June. Bitcoin quickly bounced back to hover around the 50% dominance area from mid-July until October. During October bitcoin’s market dominance steadily rose from 50% to 60%…