“Bitcoin dominance will return to 90%”

Blockstream CEO Adam Back has expressed confidence that the Bitcoin dominance index will return to past record levels and reach 90%.

During a discussion on Twitter with partner of venture investment firm Primitive Ventures, Dovey Wan, Beck said that the rise in altcoins in 2018 was only temporary and now bitcoin is gradually returning to the usual level of dominance of 90%. If last year the dominance of the first cryptocurrency fell below 40% of the total market capitalization, now it is about 70%.

According to Adam Beck, now there is a revival of dominance of bitcoin, and the full cycle takes about 2.5 years. Along with the dominance of the first cryptocurrency, the price of the asset should also increase. Blockstream CEO believes that the Bitcoin exchange rate may well reach $ 50,000, especially after halving the miners’ award.

Note that a recent study by Arcane Research showed that in reality, the dominance of bitcoin already reaches 90%. Analysts received such figures after they began to take into account the liquidity of markets and the decrease in the price of altcoins during the sale.

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Interestingly, in late August, expressed the opposite point of view
cryptocurrency investor Charlie Shrem. He thinks that, despite the overwhelming superiority of the first cryptocurrency, there is still hope for altcoins.