BTC surpasses 57 K worth and start eating the alt coins investment
It is a fact that humongous trees easily extract majority of nutrients from the soil. Market moves the same way. Either it is fiat exchange or crypto exchange. BTC is consider as the king of coin.
World top notch coin was under immense pressure after China imposed restriction on BTC followed by Musk refusal of accepting BTC as a payment for Tesla EV. Decrease in coin worth diverted people towards alt coins like, Cardano, BNB, Solana, Avax etc. These coins achieved all time high worth during this year.
BTC achieved 57,500 USD worth today despite of imposing all restrictions. Coin is emerged as king of coin and it is again eating the resources of alt coins. Currently coin hold global capital of 1.083 Trillion USD of total market capital of 2.31 Trillion USD. Current capital of BTC is about 46.88% of the total market. This reveals the switching of investment of towards BTC which at one stage had a market share of 41-42% share.
Switching of capitals towards BTC indicates the trust over the king of coin. It is a fact that fruitful trees attract many birds so as the king of coin. But the question arise, is this the good idea to invest in coin which is move like a bullet train? The answer is yes and no at the same time. Yes because coin is going great great but at the same time big no as when escalation observed in coin price, correction factor applies which may swallow people investment. Let's see how market behave.
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
Posted Using LeoFinance Beta
