1/1/2018 Bitcoin Dominance Index Drops to All-Time Low at 37.

7%, Rise of Altcoins

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BITCOIN ANALYSIS JANUARY 01, 2018 17:15 ICO CALENDAR

The Rise of Altcoins: Bitcoin carVertical

ETHEREUM  6 26

Dominance Index Drops to All-Time ONZ Coin

Low at 37.7% ONZ  -6 22

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The dominance index of bitcoin, which measures the dominance of bitcoin over the global
cryptocurrency market, has fallen to an all-time low at 37.7 percent, as altcoins surged in value.

Australian Bitcoin
Investors Claim Banks
are Shutting Down
Their Accounts

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1/1/2018 Bitcoin Dominance Index Drops to All-Time Low at 37.7%, Rise of Altcoins

Bitcoin Price Slightly

Recovers as Ripple
Market Cap Drops by
$13 Billion

As Prices Dip,
Bitcoin’s Market
Dominance Slips
Towards New Low–
and the Market is
Better for It

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Bitcoin’s Dominance Index Lowers

Throughout 2017, the dominance index of bitcoin has dropped from 90 percent to 37.7 percent,
primarily due to the rising popularity and adoption of alternative cryptocurrencies. Some
currencies like Ethereum, Ripple, and Litecoin have risen by at least 50-fold over the past year,
with Ripple demonstrating a staggering 330-fold increase in value.
Free Crypto Masterclass
Experts such as ShapeShift CEO Erik Voorhees noted that the high transaction fees have largely Expert Reveals Top
Cryptocurrencies Set To
fueled the growth of alternative cryptocurrencies, as it has become difficult to process small Overtake Bitcoin
payments using bitcoin.

Follow us on Twitter
“Fellow Bitcoiners, are you ever going to realize how problematic these fees are
getting? Average fees now over $40 per transaction. A year ago avg fee was $4. Follow @cryptocoinsnews

A year prior, $0.40. Growing faster than price, and exponentially with usage. We
just spent $4800 to move 15 BTC in one transaction,” said Voorhees.
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In a response to a statement from a member of the bitcoin community, Voorhees emphasized

that alternative cryptocurrencies have become viable options to process cheaper payments. “Like
Litecoin, Dash, ETH or BCH… chains that still work as peer to peer electronic cash systems,” he
added.

Bitcoin still remains as the most liquid and largest cryptocurrency in the market in terms of user
activity and developer activity. It has a daily trading volume of over $10 billion and a market
valuation of $227 billion.

High profile investors including billionaire hedge fund legend Mike Novogratz suggested that
the price of bitcoin could easily surpass $50,000 in 2018, as its market valuation achieves $1
trillion.

“Bitcoin could be at $40,000 at the end of 2018. It easily could. There’s a big
wave of money coming, not just here but all around the world,” Novogratz said.

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1/1/2018 Bitcoin Dominance Index Drops to All-Time Low at 37.7%, Rise of Altcoins

Analysts still remain highly optimistic in regards to the performance of bitcoin 2018, given that
some of the world’s largest financial institutions have started to integrate support for bitcoin.
Most notably, the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange
(Cboe) have filed for six bitcoin exchange-traded funds (ETFs), which are expected to provide
individual investors in the traditional stock market a better platform to invest in bitcoin.

Joseph Young
@iamjosephyoung

Things to look out for in 2018 in #Bitcoin:

1. Nasdaq Bitcoin Futures

2. NYSE Bitcoin ETFs
3. Cboe Bitcoin ETFs
4. Scaling / Lower Fees
5. More Adoption Due to ↑
6. Many Billion of Institutional Money Coming to Bitcoin / Crypto

No wonder analysts are so optimistic!

2:44 PM - Dec 26, 2017

33 668 1,465

Trend of Altcoins
In consideration of the many billions of dollars that are expected to flow into the bitcoin market
over the next few months, analysts remain enthusiastic. But, some experts have also begun to
ponder the long-term growth of alternative cryptocurrencies, especially utility tokens and
anonymous cryptocurrencies that hold massive potential.

For the first time in history, the combined market cap of the top 5 cryptocurrencies in the market
have come close to surpassing that of bitcoin. The combined market valuation of Ripple,
Ethereum, Bitcoin Cash, and Cardano amounts to $218 billion, and is less than $10 billion from
surpassing that of bitcoin.

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TAGS: BITCOIN INVESTMENT, BITCOIN PRICE, BITCOIN TRADING, DASH, ETHEREUM NEWS, LITECOIN, RIPPLE

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Joseph Young

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ALTCOIN ANALYSIS JANUARY 01, 2018 15:42

Bitcoin Price Rings in the New Year

Above $13,500 as Ripple Stumbles

The cryptocurrency markets rang in the new year on a high note, with the majority of coins and
tokens in the top 100 posting moderate gains against the US dollar. The bitcoin price, though
still far from its all-time high, rose above $13,550. Ethereum, meanwhile, took the first step
toward reclaiming the second spot in the rankings from ripple, which was one of the few
cryptocurrencies to post a single-day decline.

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1/1/2018 Bitcoin Dominance Index Drops to All-Time Low at 37.7%, Rise of Altcoins

Against this backdrop, the cryptocurrency market cap once again floated above the $600 billion
mark and currently sits at $602 billion. This $18 billion advance translates into a single-day
increase of about three percent.

Source: CoinMarketCap

Bitcoin Price Tests $14,000 on Global Markets

The bitcoin price set the tone for the day, rising a modest two percent on the global markets
even as traders continue to ponder how South Korea’s new bitcoin exchange regulations will
affect the flagship cryptocurrency’s local and international valuations.

Bitcoin Price Chart

On Bitfinex, bitcoin is currently trading at $13,187, while — buttressed by South Korea — its
global average its $13,570. This translates into a $227.7 billion market cap, which is roughly 13
times the size of the entire cryptocurrency ecosystem on January 1 of last year.

Ripple Price Posts Rare Decline as Ethereum

Plots Recovery
To the surprise of all but a few XRP diehards, ripple entered 2018 as the second most valuable
cryptocurrency following a remarkable year-end rally. Despite this recent performance, however,
the ripple price was one of the few cryptocurrencies to post a single-day decline on Monday. On
Bitfinex, the ripple price slipped below the $2 mark, while XRP’s global average declined three
percent to $2.25.

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1/1/2018 Bitcoin Dominance Index Drops to All-Time Low at 37.7%, Rise of Altcoins

Ripple Price Chart

This pullback reduced ripple’s market cap to $87 billion, perhaps presenting ethereum with an
opportunity to reclaim its spot as the second most valuable cryptocurrency. On Monday, the
ethereum price increased by five percent and is currently trading at $743 on Bitfinex. Its global
average, though, is $768, which works out to a $74.3 billion market cap.

Ethereum Price Chart

Assuming a static ripple price, ethereum needs to increase by 17 percent to pass XRP in the
rankings. Based on the market’s current state, this does not appear likely to happen today.
However, if ripple’s Monday pullback is the first signal that its breakneck rally is running out of
steam, ethereum could once again boast the second largest market cap in the near future.

Stellar Leads the Altcoin Advance

Despite poor performances from several top cryptocurrencies, the total altcoin market cap rose
by $9 billion on Monday, bringing it to a present value of $375 billion.

Source: CoinMarketCap

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1/1/2018 Bitcoin Dominance Index Drops to All-Time Low at 37.7%, Rise of Altcoins

Following ripple’s example, both bitcoin cash and cardano posted minor declines for the day,
dipping one percent and three percent, respectively. The litecoin price, meanwhile, returned a
three percent increase, putting at least a temporary halt to its recent downtrend.

The IOTA price managed to assemble a one percent increase, and NEM’s eight percent leap
brought its price above dollar parity. The dash price, meanwhile, rose by two percent, ensuring its
status above the $1,000 mark.

The day’s top performance came from stellar, a newcomer to the top 10. The stellar price rose 25
percent to $0.42, bringing its market cap to $7.4 billion and providing it with a $2 billion edge on
11th-ranked monero.

Write to Josiah Wilmoth at josiah.wilmoth(at)cryptocoinsnews.com.

Featured image from Shutterstock.

POSTED IN: ALTCOIN ANALYSIS, BITCOIN ANALYSIS, BITCOIN PRICE NEWS, NEWS
TAGS: BITCOIN PRICE

AUTHOR
Josiah Wilmoth

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