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Friday, June 14, 2024

Bitcoin Surges Above $17K Price Level as Dominance Grows

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Bitcoin touched another 2020 all-time high (ATH) today when the crypto asset surpassed the $17k price zone on Tuesday.

Bitcoin dominance has risen higher during the last few months and currently hovers at 65 percent this week.

Despite the massive rise in bitcoin value during the last few months, altcoins are not performing as well as they did when bitcoin was at this price range three years ago.

Back in 2017, bitcoin (BTC) touched an all-time high (ATH) on December 17, when it reached $19,600 per coin that year.

Bitcoin’s dominance index was slightly different in 2017 than it is today, as numerous altcoins saw significant increases in value three years ago.

Bitcoin dominance is essentially the recorded metric of BTC’s market capitalization paired against the 7,000+ other altcoin market valuations in existence today.

With BTC holding a 65% dominance level today, the crypto asset’s dominance increased 103% since the second week of January 2018.

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