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Why Is Bitcoin Dominance So Much Lower Than in Previous Bear Markets?

The Breakdown

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Bitcoin's Dominance as a Speculative Asset

Bitcoin dominance is simply the percentage of the total crypto market cap accounted for by Bitcoin. In times of high speculation, such as in late 2017, BTC.D drops. When traders and short-term investors are feeling confident, they tend to prefer the high-risk high reward offered by some of the smaller tokens. We then saw an unusual phenomenon, a speculative market in which Bitcoin was a star performer.

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