Bitcoin’s market capitalization has increased more than 50% in comparison to other cryptocurrencies in the market. The grip level of Bitcoin in the market is supported highly by its popularity.
CoinMarketCap’s Bitcoin Dominance Index has raised approx. to 51.62% as per the records obtained from the site report. At the end of May 2017, this index just crosses 50%. While in March starting, the dominance index crossed 80% and then started to reduce with the upcoming months because the price of other crypto currencies began to rise in the crypto-market.
While researching market, collected data concluded that a hike was stimulating the index shift in the Bitcoin price and fell while considered for other cryptocurrencies of the world like Ethereum, Ripple, etc.
At the time of the study, the price of bitcoin was being traded at about $2,791 after markets struck an increase of $2,833.24, as per Bitcoin Price Index (BPI) calculated by the CoinDesk. At the same time, Ethereum price got down about 5%. Being traded at $194.
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