While the price of Bitcoin shows several ups and downs — the markets endure to show faith in the currency. This is a figure which has been seen multiple times in the past. While Bitcoin’s market dominance has risen, the market scenarios then and now are quite different. Back then, Bitcoin covered a 50% market share of the cryptocurrency markets, where the total crypto market cap stood at nearly $600 Billion. However, while Bitcoin’s market dominance is 50% , the overall market cap is less than half of what it was back then. The total cryptocurrency market cap is about $129 Billion.

Investors have become less open-minded and less willing to theorize on alt-coins. As a result, the investment and development of new crypto settlements will hurt. Bitcoins price is not the main issue of this topic. That’s because investors primarily concerned with relative value. Crypto community believe in relative value trading, and it can expose a lot of interesting about the cryptocurrency market. Price can be volatile, highly emotional and unstable. Relative value tells us a entirely different story. With a relative value perspective, we can see the market is increasing in fear, even if this isn’t what is reflected in Bitcoins price. If you’re a true optimist towards cryptocurrencies, the price is less significant than the vision of the future. A future where decentralized currencies can be used with total ease and convenience. Admittedly, this hasn’t happened yet, but steps are being taken towards this future every day. In any case, bitcoin in its current form isn’t able to deliver this future in the short term. Following on from this logic, presumably at some point another coin will takeover from bitcoin. But there is a solution to be independent.