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Bitcoin holds 53% of total crypto market share

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Bitcoin’s dominance in Crypto market is 53% , currently valued at $9700 per BTC and market cap of $160 billion

Bitcoin was founded in 2008 by an unknown person called Satoshi Nakamoto, identity of that person is still unknown but the thing that he has created is known by everyone. Bitcoin has gained more than 1000% this year alone making it world’s leading crypto currency. According to coin market cap, Market capitalization of Bitcoin is around $160 as time of writing. Dominance of Bitcoin as leading crypto currency is visible through numbers.

Bitcoin is not a Bubble

There were 2 forks of Bitcoin this year, Bitcoin Cash and bitcoin Gold, both of them has done really well in terms of growth and numbers, but Bitcoin is still the leader, there were many rumors about Bitcoin Cash taking on Bitcoin as there were news in the market that there will not be any fork coming this year for Bitcoin as Segwit 2x was cancelled, But Bitcoin is still going strong without any issue, and price is heading towards $10000 mark, acceptability of Bitcoin is making its price soar to all time highs, price is making records, many people criticize it as a bubble but there is difference between a bubble and a valuable asset, in Bubble there is small or no profit taking unit it burst all the way down to the bottom but in this case what we have seen that there were some extreme down turns all the way through this year in the price and price depreciated 30-40% on couple of occasions making it different from a bubble

Bitcoin is still the Boss

Despite of Strong competition from Ethereum and Bitcoin Cash, Bitcoin is still leading the numbers and is way ahead of all its competitors in terms of market cap and share in the market.

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Crypto Market cap reached $275 billion

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Market cap of crypto currencies reached the level of $275 Billion after a spike on 4rth July 2018, Bitcoin maintaining its dominance at 42% , making it the biggest crypto currency in the world.

Bitcoin price currently trading at around $6700 after a 3% spike in the price , making it jump from $6500 to $6700 within minutes, analysts are predicting that this recent upside movement in crypto market in weak and need to sustain these levels in order to attract more buyers, otherwise overall bearish market is still in control.

$7000 is a key level for Bitcoin 

$7000 is very important level for bitcoin according to many technical analysts, If it breaks above $7000 and stays there then chances are that upside move will be healthy, otherwise bear will look forward to take control of the situation again.

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Switzerland merging Cryptocurrencies with conventional banking

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Switzerland is on the right track to become a Crypto nation and country is making efforts to allow cryptcocurrencies to fully access conventional banking .

Bitcoin and other crypto currencies has taken a big hit in brutal bear market of 2018 but that’s not stopping Switzerland to allow cryptocurrencies to fully access conventional banking system within the country. Switzerland is currently in progress and drafting rules and regulations for such collaborations.

Heinz Tännler, Swiss expert & finance director of Zug canton, told media earlier that politicians were moving to allow crypto companies to work with banks, adding that Switzerland’s central bank, financial supervisor and federal government “are willing to help”.

He said: “We hope to clarify relationships by the end of the year at the latest.

“Time is pressing, other jurisdictions such as Malta and Singapore are very active and making a lot of effort to attract these companies. The lack of access to bank services is a significant competitive disadvantage.”

“We have to push certain national institutions to resolve this problem quickly and effectively, but that now seems to be going well.”

Blockchain becoming the global phenomenon 

The concept of Blockchain is interesting and attractive for all the countries, many countries may disagree on the existence and usage of cryptocurrencies, but all of them agree with the fact concept of blockchain is not going anywhere and governments can benefit from this technology in various fields, but if you ask any expert of blockchain, he would tell you that success of Blockchain technology has to be linked with existence of crypto currencies, without crypto currencies, and ecosystem can’t exist, many governments around the world are slowly recognizing the fact and Switzerland is definitely on the right track if they allow crypto currencies to work in collaboration with the Banks, because many banks around the world are not allowing crypto currencies to offer services through them, but this initiative will open many doors in that regards.

 

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Crypto market stabilizing gradually

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Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.

Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.

Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.

EOS

Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.

Current top 5 crypto currencies

  1. Bitcoin : $9388
  2. Ethereum: $741
  3. Ripple: $0.83
  4. Bitcoin Cash: $1630
  5. EOS: $18.28

 

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