Could Bitcoin’s Dominance Reach 80% In 2019?

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Could The Global Economic Anxiety In 2019 Play In Favor Of Bitcoin Hitting An All-Time High?
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The top valued cryptocurrency, bitcoin (BTC), has continued to catch the attention of old and new investors alike. Most people holding altcoins also have a piece of the bitcoin (BTC) pie. As a result of this, a new report released by Binance Research – Institutional Market Insights, Q2 2019 – recently released may not be far from the truth.

The results of a poll conducted by the research team show 30% of present investors are confident of the fact that bitcoin will have the largest market share – dominating other cryptocurrencies by 80% by the beginning of 2020.

Binance Research Pool Result

Poll

The recently released document by the Binance Research team shows the results of a poll the team had conducted. Out of those who participated in the poll, 7% had no cryptocurrency experience whatsoever. However, the other 93% had varying years of experience in the cryptocurrency industry.

The poll indicated that a substantial amount of people think bitcoin will be within the 40% – 80% dominance range.

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A further breakdown; 30% believe bitcoin will be within 60% – 80%, while 50% believe there will be a drop from where bitcoin currently stands, down to the 40% – 60% range before the end of the year.

Judging by current events, the 30% may remain winners. First of all, bitcoin presently has a clear lead, with a 62.78% dominance. It’s also obvious that if all goes as predicted bitcoin may not only hold that range but surpass 80% dominance as FOMO sets in.

Bitcoin Continues To Push Upward

The most valued cryptocurrency continues to push forward, recovering some gains after an unexpected price correction.

Experts say, if bitcoin is able to surpass its most recent high, which happens to be the YTD high, nothing should stop its price till it hits the $17k mark.

Bitcoin (BTC) Price Analysis

Could Bitcoin's Dominance Reach 80% In 2019?
BTCUSD Chart Provided By TradingView

Bitcoin currently trades at $11,965.93 at the time of reporting, with a 9.96% gain from today’s opening price.

The top-ranked cryptocurrency has a market capitalization of over $210 billion, with a circulating supply of 17.79 Million.


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