Shares of Bitcoin are falling due to the price surging of Ether and other altcoins in the market. As we all know, the dominance of Bitcoin is huge in the market, but now its value to the overall market capitalization of the digital asset has slipped below 50 percent for the first time in the last three years( 2018).
This report is confirmed by CoinMarketCap and CoinGecko. The market value of Bitcoin is almost 1.02 trillion dollars versus almost 2.13 trillion dollars for CoinGecko’s universe of the 6,816 digital coins. The shares of Ether in the market capitalization is almost 14 percent.
As per the statistics, a 12 years old Bitcoin is up 88 percent this year, and it is reaching an all-time high below 65k dollars earlier in April. So the rally has stalled, and the price has just faded to 55k dollars. Rather, traders decided to bid up the prices for other cryptocurrencies from Aave’s AAVE tokens
This rapid change in price hike creates a comparison to the rampant speculation in the last big bull run of cryptocurrencies in 2017, punctuated by the spate of so-called ICO or initial coin offerings.