BITCOIN DOMINANCE Explained: Why it is CRITICAL in 2023
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Bitcoin Dominance 101: How To USE This Important Metric
In order to understand Bitcoin Dominance, you first need to know how market capitalization, or market cap is defined. Market cap represents the total value of a coin in circulation and is calculated by multiplying the token’s price by its circulating supply. Now when you hear the term alt coins, that just refers to any and all coins other than Bitcoin.
With that being said, bitcoin dominance is calculated by taking bitcoin’s market cap and dividing it by the total crypto market cap, including all the altcoins on the market. This tells us the percentage of the overall crypto market that’s made up of Bitcoin.
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📚 CHAPTERS:
0:00 - Intro: Bitcoin Dominance
0:49 - What is Bitcoin Dominance?
1:27 - Today's Video Sponsor!
2:33 - BTC Dominance % Today?
3:01 - History of This Metric
4:23 - Major Influences?
4:59 - Bitcoin Dominance Cycle
5:41 - Criticism?
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DISCLAIMER: All of the information presented is strictly for educational and entertainment purposes, nothing should be taken as legal or financial advice. The video content represents the opinions and experiences of the speaker (Summer). Investments in both crypto-related and real world assets pose a certain degree of risk and this content will never suggest or recommend any type of investments. Please do you own research and asses your personal situation before making any financial decisions.
Stay safe everyone!