Bitcoin’s dominance has reached a historic record over several years. The queen cryptocurrency now represents 51.5% of the entire sector. This corresponds to the highest level since April 2021.
Bitcoin reigns as undisputed master of the crypto ecosystem
Over the past two weeks, Bitcoin has seen a continuous rise. In fact, he carries out gains of around 15% in the last 7 days only. At the time of writing, Bitcoin is trading around $34,200 according to data from CoinMarketCap.
However, the altcoins are not keeping pace with Bitcoin. For example, the weekly performance of Ethereum (ETH) lags that of BTC. The second crypto in the world in terms of market capitalization shows an increase of only 11% over the past seven days.
Binance Coin (BNB) has done worse. The token records an increase of only 6.5% % over the last week. In addition, XRP, the 5th crypto on the market, is making a increase of only 5.5% over the last 7 days.
This recent rise in Bitcoin dominance may be linked to a long-term increase. Indeed, since the beginning of 2023, the BTC made over 100%. Institutional investors have started paying attention to Bitcoin. Its performance outperforms most stocks and fixed income securities. Furthermore, BlackRock’s Bitcoin ETFwhich seems to be getting closer, is increasing the market’s enthusiasm for Bitcoin.
The Bitcoin spot ETF sets fire to the powder
According to James Butterfillhead of research at CoinShares, the growth of Bitcoin’s dominance in the cryptocurrency market shows that the talk about spot ETFs is indeed the engine behind price movements.
“It seems more and more likely that investors logically sought to enter the market before the actual announcement,” he explains to American media The Block.
Also according to James Butterfill, between October 10 and 24, the total market capitalization of the cryptocurrency market increased from approximately $980 billion to $1,236 billion. This indicates that the market is not only experiencing a shift from altcoins to Bitcoin. It seems like new capital is injected into the market.
It therefore becomes imperative, for investors in cryptocurrencies, to closely monitor Bitcoin performance. The latter continues to play a leading role in the sector, attracting the attention of institutional investors and market observers. The coming months could bring more upheaval and opportunities for investors in cryptocurrencies.
Investors in Bitcoin and cryptocurrencies should also stay up to date with current events. As experienced over the past two weeks, the announcement of the approval of BlackRock’s Bitcoin ETF literally propels the price of BTC. But be careful of fake news. For the moment, nothing totally official has not come out regarding the acceptance of this ETF by American regulators.
In summary, if the opportunities should arrive, caution remains in order.
Bitcoin Minetrix, a project that is starting to interest older people
If the Altcoin Market Underperforms, Excitement Around Bitcoin Minetrix continues to grow among traders, investors and large companies. This token could well ride on the success of Bitcoin in the weeks and months to come. It is indeed possible that the price of the token $BTCMTX is following a trajectory just as impressive as that of Bitcoin (BTC) itself. But why ?
At the heart of Bitcoin Minetrix lies a revolutionary concept: staking for mining (Stake-to-Mine). When you acquire tokens $BTCMTXyou get ERC20 mining credits.
#BTCMTX provides a secure cloud mining platform for all #Crypto users.
Previous concerns about expensive hardware and cloud mining scams have discouraged many from getting involved.
This decentralized strategy ensures a mining journey that is both transparent and secure. 🔒 pic.twitter.com/nRG0xVVEzj
— Bitcoinminetrix (@bitcoinminetrix) October 27, 2023
These credits are your gateway to earning rewards by mining Bitcoin without the need for technical skills or expensive infrastructure. The more $BTCMTX tokens you stake, the more you accumulate mining creditsand more your potential rewards become important.
And if the entire cryptoshpère is interested in this promising projectit’s because it pre-sale is a hit. This has just entered its fourth phase. The target of 2.4 million dollars raised has just been crossed.
How to buy $BTCMTX ?
The pre-sale will take place according to 10 successive stages. At each phase, the price of the token will increase. If you want to secure Bitcoin Minetrix at the competitive rate of $0.013, don’t wait any longer, because the presale has already reached its fourth phase. You can now buy BTCMTX on the official website of the project. The minimum purchase is $10.
To buy BTCMTX, simply: connect your crypto wallet. You can get BTCMTX with ETH, USDT and even BNB. But note that a purchase via BNB will not allow you to stake your BTCMTX and will put you through alongside substantial passive income. Don’t miss this unique opportunity!
Sources: The Block, Bitcoin Minetrix
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This article does not constitute investment advice in any way. The information provided here should not be used as a basis for making financial decisions. Cryptocurrency investments involve risks and may result in significant losses. You should only invest what you can afford to lose and carry out your own research before making any investment decisions.