Bit-comment: The situation can be changed?
September 05, 2019 @ 10:27 +03:00
Bitcoin has shown almost unchanged price dynamics over the last 24 hours after a rebound to $10,700. It is worth noting the continuing growth of Bitcoin dominance index, which is steadily approaching 71%. So far, this indicator is far from 86% at the end of February 2017, when the epoch of altcoins began but the trend is clearly directed to the return of a similar “balance of power” on the cryptocurrency market.
The situation can be changed by large investors in case they find altcoins to be an attractive speculative instrument at some point. However, we are not talking about it yet, and all efforts are directed towards creating an investment infrastructure around Bitcoin.
Already on September 23, in case of a successful launch of Bitcoin futures with physical delivery of the asset, the BTC market may experience a huge impulse of demand. There is no need to say that the price dynamics in case of the arrival of large institutional investors may sway in both directions, but all of them have long ago adopted the rules of the volatile game of Bitcoin, and it is these features that attract the market participants in the asset most of all.