Analytics

The Proportion of BTC Market Value Has Not Increased, Pay Attention to Supplementary Increases in Cryptocurrencies- Feb. 20th

Analysts believe that although the price of BTC continues to rise, the share of BTC market value has not recovered simultaneously. At present, the latest market value of BTC accounts for 60.93%, and the market performance is much lower than 69.71% on January 4. This shows that when hotspots emerge endlessly, mainstream cryptocurrencies take turns to supplement the rise and bring good profit opportunities.

(resource from coinmarketcap.com)

On January 4, BTC just exceeded $30,000, and the price soon entered the adjustment phase that lasted for one month. With the price of BTC continuing to rise after adjustment in January, there is more room for supplementary increases in mainstream cryptocurrencies. BTC rebounded from $30,000 to a maximum of $56,562, and mainstream cryptocurrencies rose by as much as 88%. Considering that the market value of BTC dropped by 8.8% over the same period, the mainstream cryptocurrency increased nearly doubled during this period.

In the short-term, with the soaring of the platform currency BNB, the gains of DOT and ADA continue to expand. The market share of mainstream cryptocurrencies has not weakened, but the market value of BTC is shrinking.

The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.