How do altcoins compared with bitcoin, after the outbreak of the corona virus? One of the best ways to find out is to take a look at the power of bitcoin is in the cryptomarkt. The bitcoin’s dominance is the percentage of the total fair market value of a bitcoin in comparison to the whole of the cryptomarkt. Is bitcoin’s dominance is low, then the performance altcoins are better than bitcoin.
On the 15th of February, came to the bitcoin domination, with the 61,78 per cent, the lowest point of the year 2020. This is because the prices of altcoins, harder increased over that of bitcoin. Take, for example, Ethereum Classic, with a 169 per cent rise. Or, Zcash, which is an increase of 138 per cent, more than doubled. Bitcoin came when, with only 32 per cent clean off of it.
Bitcoin’s dominance continues to grow
Since it is the week of the 24th of February, the tide has been reversed. You can see in the chart below, in return. In the last five rows show the evolution of the bitcoin dominance over the last couple of weeks. It is a question of growth is, at present, there is a nearly 68 per cent of the value of the cryptomarkt of bitcoin.
Bitcoin is holding up better than altcoins
That is, the bitcoin’s dominance since then is increasing, not only because of bitcoin, more it increases, but because the price is less hard, then drops in altcoins. Below is a comparison between the price of a single bitcoin (in green), compared to litecoin (silver), ethereum classic (purple) zecash (red), and ethereum (in orange).
Bitcoin is a thirty percent since February 24, while altcoins are between 46 and 50 per cent are declined in the same period of time. Until the 16th of march, moving up bitcoin with altcoins, but we have seen that, in the course of the world’s first cryptocurrency after that, a faster rise than a coin, such as litecoin, ethereum, and zecash.
It seems bitcoin is thus a more secure option is to keep altcoins. In this time of crisis, losses in altcoins as it happens, faster then bitcoin. Alt, season, partly due to the outbreak of the corona virus, therefore, is further away. However, in the future, this is, of course, simply for change’s sake.