With increasing interest in alternative digital coins, bitcoin has lost its dominant position in the market.
Over 2017 bitcoin rose by almost 12 times from less than $1,000 to the peak level at $19,891 recorded on Bitfinex on December 17. Notably, other exchange markets recorded the price even above $20,000 that day.
Yet, the hike was followed by a weakening. As a result, BTC hit its low at $10,718 on December 22, 2017, with further rebound to $13,000. In the second half of the day, BTC changed hands at $13,557.00 on Bitfinex.
BTC capitalization has amounted to $231.7 billion on Tuesday (some 36% of the overall value of cryptocurrencies). This means that the share of bitcoin has hit its all-time low in the global market. For reference, bitcoin market footprint was more than 80% in early 2017.
The insiders have a different opinion on the current situation. Specifically, investors believe this is just a natural adjustment after price jump. At the same time, market regulators and central banks still warn about inflating crypto bubble.
As experts from Morgan Stanley commented in late December, the real bitcoin cost may be zero.
Ripple, the second major digital coin, was traded at $2.08 after hitting an all-time high at $2.39 on Poloniex on Saturday.
Ripple capitalization exceeded $100 billion in total, knocking Ethereum ($85 billion) out of the second place.