Bitcoin’s domination reached the annual maximum on the background of the XRP collapse

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According to CoinMarketCap, the current Bitcoin domination indicator is 69.2%, which is the maximum value over the past 15 months.

Despite the substantial increase in the BTC course in the fourth quarter, the volatility of the first cryptocurrency remains at a fairly low level. 180-day volatility is at the lowest level from February 2017. Currently, Bitcoin is trading in the price range of $ 22-24 thousand.

A significant pressure on the market has a peak of the XRP course due to a lawsuit against Ripple and its leaders from the US Securities and Exchange Commission. Since it has become known, the price of a digital asset fell by more than 50% from $ 0.561 to $ 0.267 at the time of publication.

According to experts, if the regulator wins the case, the XRP may stop existence due to the mass of legal obstacles. This encourages companies now to refuse products based on tokens.

The collapse of one of the leading cryptocurrency increased the influence of Bitcoin on the market, increasing its dominance rate to 69.2%. Such an increase in significance can stimulate traders to pay more attention to Altkoinam in the first quarter of 2021.

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