According to CoinMarketCap, bitcoin's spectacular rally to over $12,000 has boosted the crypto's dominance index beyond 60%, a level not seen since April 2017.
It should be noted that bitcoin's recent rally has pushed its price to levels that have not been seen since late 2017.
However, the rest of altcoins seem to be unable to follow its pace, which has driven its dominance index to 62%, its highest level in two years.
In order to illustrate the scope of its dominance, it is enough to have a quick look at its market cap, which currently stands at $226B, while the total market capitalization of the whole market is $365B.
Everything seems to be good news for bitcoin. Over the past few days it has not stopped increasing, and it seems that the trend is not going to change, at least not for now. However, there does not seem to be any solid news behind this rally, so its meteoric rise could be simply caused by FOMO.
Will BTC be able to keep rising to $20,000? We will know soon.
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