INSUBCONTINENT EXCLUSIVE:
and XRP saw their value soar
Bitcoin is not only back over the 50% market share mark, it has effectively doubled its portion of crypto worth over the last two years.What
But we can highlight a few reasons that help explain what happened
We care a bit more today than we did a half-decade ago about what is, versus what might be.Comparative worthFrom the fine folks over at
CoinMarketCap, the following set of data maps the relative value of the major cryptos, with smaller coins aggregated into a shared line:I
The big orange area is bitcoin
The 2017-2018 era is the period in which altcoins had their heyday
And since mid-2018 you can see bitcoin recapture most of its lost, relative prominence.Bearing in mind that the value of bitcoin has traded
Here are the key data points:December 15, 2016, bitcoin share of total crypto market cap: ~86%December 15, 2017, bitcoin share of total
crypto market cap: ~55%January 15, 2018, bitcoin share of total crypto market cap: ~33%December 15, 2018, bitcoin share of total crypto
held steady above 80% for a very long time
Then in early 2017 that same share began to fall
It continued to slip into the early days of 2018
Since then it recovered first to its December 2017 levels
And this year the relative value of bitcoin rose again, bringing it to twice its lowest ratings.Why did that happen? Here are three reasons
Bitcoin bounced back due to:The failure of distributed apps to take off in terms of usage, and spend;The general nonperformance of ICOs;A
fraud-led flight to quality.
