As Altcoin is falling further than Bitcoin, critics point out that the cryptocurrency craze is the end.
When cryptocurrency rallies, Altcoin rises more, not Bitcoin. This is because investors take risks and concentrate on purchasing Altcoin, which is less safe than Bitcoin.
However, the opposite has emerged in recent years. While Altcoin is plunging, Bitcoin is falling relatively less.
This is because investors who sensed that cryptocurrency has entered the bear market are making safer investments. Cryptocurrency investors are still investing in Bitcoin, which is considered the safest cryptocurrency.
This trend can be confirmed just by looking at it for one day on the 14th. As of 8 a.m. on the 14th (GMT+8), Bitcoin is recording 32,501 dollars, down 1.87 percent from 24 hours ago, on Coin Market Cap.
Ethereum, which ranks second in market capitalization, is trading at $19.0, down 6.10 percent from 24 hours ago.
As of the last seven trading days, Bitcoin fell only 4.57%, while Ethereum plunged 17.22%.
Arcan Research, a cryptocurrency analyst, said in a report, “As cryptocurrency enters a period of decline, the preference for Bitcoin increases. As a result, Bitcoin’s dominance in the cryptocurrency market will increase further.”
Initially, Bitcoin accounted for about 70% of the entire cryptocurrency market. That was the case when cryptocurrency was in full swing in April, its share fell to 40%. Recently, the proportion has risen back to 45 per cent.
As of the 14th, the market capitalization of cryptocurrency as a whole is 1.33 trillion dollars. Among them, Bitcoin has a market capitalization of 610.5 billion dollars.
