Bitcoin: A cryptocurrency endangers its power in the market

Deepak Gupta
Deepak Gupta January 1, 2022
Updated 2022/01/01 at 12:23 AM

Over the past two months, the Bitcoin have to accept some losses. Since mid-November, the cryptocurrency seems to be almost in free fall. Also Ethereum it doesn’t fare much better in that respect. But if you take a look at the respective market share of the two assets, it quickly becomes clear that a not insignificant shift is taking place.

Bitcoin vs. Ethereum

For some time now, Ethereum (ETH) has been ranked second among the strongest cryptocurrencies on the market. Bitcoin (BTC) is still at the top. With the rapid developments that both assets have seen since the beginning of the year, the first place is gradually losing its dominance. At the same time, the market share at ETH is increasing.

You can see this development on the TradingView (BTC vs. ETH) platform. At the beginning of January 2021, Bitcoin’s market share was still around 72 percent. It has fallen by a good 32 percent within twelve months. On the one hand, this is due to the fact that new altcoins are constantly splashing onto the market. But the strengthening of the second-placed cryptocurrency also plays an important role.

At the beginning of the year, Ethereum was still around eleven percent. At the beginning of December, the asset reached its peak of almost 22 percent market share.

What should i buy?

The dominance in the market does not always say something directly about which asset represents the better investment option. Especially since this point depends heavily on whether you are hoping for short-term or long-term gains. It is also important to note that cryptocurrencies are inherently extremely volatile and should therefore be treated with caution.

If you still want to invest, we’ll tell you where you can buy Bitcoin. Buying Ethereum is also very easy.

Source: TradingView

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *