Even though Bitcoin reached a new local low of ~7600 USD recently and is looking like a double bottom can’t be out of the possibility, the dominance index of the first and most used cryptocurrency is growing compared to altcoins.

According to Coinmarketcap.com Bitcoin dominance has went back to 44% from a low of 34% even though both altcoins and Bitcoin is dropping in market capitalization. Ethereum has dropped a significant 4% down to 17% from 21%.

(Image taken from Coinmarketcap.com)

This is an indicator that even though there is a huge uncertainty across the markets, with internet giants currently banning crypto related advertisements and global financial entities calling for regulation, people still trust Bitcoin the most as a digital asset. Even though Bitcoin is also down in price by a huge margin from it’s ATH, but most altcoins have been dropping by far more both in terms of BTC and USD exchange rates.