Bitcoin Market Cap Again Exceeds All Other Cryptocurrencies Combined
June 20 news: According to TradingView data, Bitcoin's market value has once again exceeded the sum of all other cryptocurrencies. The site's BTC dominance indicator rose above 50% on Monday for the first time since May 2021, when Bitcoin's price plummeted after China announced a complete ban on cryptocurrency mining and Tesla partially moved away from the asset due to environmental issues.
The last time the Bitcoin dominance metric was close to 50% was in June 2022, when persistently high inflation in the U.S. led to aggressive monetary tightening measures by the Federal Reserve and a collapse in the entire cryptocurrency market. While Bitcoin fell sharply at the time, coins such as Ethereum fell even more. Other top altcoins including Cardano (ADA), Solana (SOL), and Polygon (MATIC) have also suffered heavily relative to Bitcoin due to the lawsuit filed by U.S. regulators against Coinbase.
BTC accounts for a growing proportion, which also means that the number of altcoins is coming to an end. However, remember not to make long-term layouts for old altcoins before 2022, and do not make long-term layouts for meme tokens after 2023. The former is too heavy, and the latter is too short to be tempered and tested by the market, so it is not suitable to deploy! At least leave half of the position until 2024 and 2025 before deploying new altcoin leaders. During this period, the main strong consensus leaders such as BTC and ETH are deployed! #合约锦标赛
If you can do this, you will have no worries about getting rich with the next big bull! If you still act according to your own delusions instead of following the big cycle, it is highly likely that you will not be able to dance with the next big bull! #BTC
