(This post is a reproduction of one on my blog - https://incryptt.wordpress.com/. The full original article can be seen here.)
Bitcoin has always been the "Alpha" among all digital coins ever since its inception. Well, being the originator of the Crypto economy, this was bound to happen; having the first mover advantage and widespread adoption made sure that the market capitalization of Bitcoins is higher than the other alternative assets. However, with the increasing presence of new coins (Altcoins) and the interest of the public in the same, this seems to be on a decline.
The Sliding graph of Bitcoin
With reference to data available on CoinMarketCap, the market capitalization (Mcap) of Bitcoin on April 28, 2013, was 94.22% and as of today, July 18, 2018, it is 42.92%. You have to take into consideration that as of April 2013, there were only 7 cryptos, which has now gone up to a whopping 1600+!
For more Read Here: Bitcoin market dominance on the decline
Not end of days yet
The days of Bitcoin as the "Alpha" seems to be numbered as more and more derivative coins shore up their market capital. The 'dominance' narrative is changing with time and adoptions and innovations.
Having said that, the uncertainty in the global crypto market is having a dominant effect and definitely creating a bigger opportunity for change.It is definitely getting crowded in there!!