Well, that didn't happen. But, as investors know, volatility is the name of the game. The cryptocurrency market has repeatedly crashed and recovered to reach new highs, and it's on the same path now as the rise of the major coins, spearheaded by leader The price of bitcoin is up $150 over the last week, goes to show. CoinMarketCapwhich keeps track of the current trading price and market cap of around cryptocurrencies, the price of bitcoin is up $150 over the last week that the market has broke past the record levels reached in June.
Ethereum is back on a growing streak as well. There are a few interesting developments to report further down the line. These are interesting times in the cryptocurrency world. It remains to be seen just how where Bitcoin's dominance will end up.
Why does this metric matter? The evolution of Bitcoin tends to leave a mark on the market as a whole. When Bitcoin rises, the other cryptocurrencies tend to go up as well. When Bitcoin suffers, this is reflected in their prices as well. It's a boomerang effect that's been clearly visible this past month. As its dominance decreases, the other cryptocurrencies are least likely to be influenced by the swings in Bitcoin prices, so we should see more stability as a result.
However, we are a long way to go before that happens -- the flippening could be a good indicator to watch for.
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