Bitcoin Market Share at Levels Just After Hitting Near $20K High

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7 August, 2018

Bitcoin's share of the entire cryptocurrency market stood at 47.6 percent, the highest level since December 20, according to a report filed by CNBC Tuesday.

The cryptocurrency, which now accounts for upwards of 80% of all online gambling transactions at some betting sites, hit a record high of $19,783.21 on December 17. Today it was hovering around the $7000 mark.

CNBC noted that bitcoin has been helped with positive regulatory noises, including hope that the U.S. Securities and Exchange Commission (SEC) could approve an exchange-traded fund.

Arjun Kharpal of CNBC writes:

The dominance of bitcoin — which is the percentage its market capitalization contributes to the entire value of the cryptocurrency market — stood at 47.6 percent on Tuesday, according to data from Coinmarketcap.com, a website that tracks such data

This is the highest level since December 20, 2017, just days after bitcoin hit its record high of $19,783.21 on December 17. Bitcoin's dominance has recovered since it hit its lowest level in January but the price, which was at just over $7,000 on Tuesday, is a way off the December all-time high.

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