Although it may sound oddly, Bitcoin dominance has fallen by 2.5% in recent weeks. However, Dan Morehead, who manages the Pantera Capital investment cryptocurrency fund, writes in an investor report that alternative cryptocurrencies can be very risky.
Bitcoin dominance is the main metric that determines the ratio of BTC to other cryptocurrencies. However, Dan Morehead of Pantera Capital explains on a simple graph to investors why it is better to bet now on certainty and keep digital gold close to your body.
Indeed, its justification is both simple and clear. Bitcoin has a number of very well secured foundations around it. They do not need a big price increase because BTCs have so much that money is simply not a problem. Thus, they will be able to invest in development even during the crisis.
Morehead wrote:
“This is a project that has already been built. It is already working and has a tradition of eleven years. Many new blockchain and smart contract platforms are still in development. They can come under a lot of pressure if their cryptocurrency drops a lot and they don’t have the money to develop. ”
Moreover, as can be seen from the graph: What is gold for traditional markets is Bitcoin for cryptocurrencies. A safe haven where everyone escapes in times of danger.
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