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IPFS News Link • Bitcoin

2017: The Year of Altcoins, Forks, and Five Digit Bitcoin Prices

• https://news.bitcoin.com, Jamie Redman

Cryptocurrencies have had an incredible run in 2017, to say the least. The entire landscape of 1,368 different digital assets now commands a whopping $585Bn market capitalization. One significant factor that has changed is back when bitcoin was $960 per coin, its market capitalization dominated all 1,300 altcoins by 90 percent, but now that metric is much lower. It was the only cryptocurrency that had over a billion dollar market cap, in fact, it had a valuation of $14.1Bn on December 25, 2016.

Ethereum which was only $7.29 per token on that day, and had a $635Mn market valuation, but in 2017 captures a $72Bn capitalization. Right now the top 32 cryptocurrency market caps have over a billion a piece, or more and bitcoin core only dominates by 38 percent. Bitcoin's market valuation has crossed new highs nearly every month of the year, but 2017 was also the year BTC lost quite a bit of market share dominance.


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