If the cryptocurrency market that has been falling for a long time has told us some kind of information, then Bitcoin is still the leader in the field of cryptocurrency. Since the beginning of this year, the Bitcoin market value has been falling. In September, the total market value has even dropped to below 200 billion US dollars. The recent total market value is about the same as last November. At present, the cryptocurrency has not yet broken away from the dilemma of falling. Compared to other cryptocurrencies, the demand for Bitcoin and the market value of Bitcoin are growing non-linearly.
In January, when the cryptocurrency market was the most active, Bitcoin’s market share was the lowest, while other currencies’ share was rising. However, before this active period, the market share of Bitcoin has been rising. Of course, according to the current trend, there may be another cryptocurrency active period soon.
Bitcoin currency is generally more popular during the downturn of the cryptocurrency market, and there are several explanations for this. Obviously, this currency is the most famous, almost everyone has heard of it, so newcomers who are new to cryptocurrency usually choose it. However, it should be noted that there is a strong correlation between Bitcoin price and the price of other currencies, but Bitcoin is relatively less volatile than other cryptocurrencies, so it is often used as a risk during the downturn. Ways to circumvent. After all, Bitcoin price today fell 75% compared to the peak price, while most other currencies have fallen 80% to 95%.
The difference between the two is not surprising, because the price change of money basically conforms to a liquidity function. The larger volume and market value of Bitcoin means lower liquidity. This is also why the risk managers think that when the overall market is down, they will invest their money in Bitcoin. When the market goes well, they will transfer the funds to other currencies. Because other currencies have risen even more, the decline has been even worse.
Therefore, Bitcoin currency is a good choice for investors who don’t like adventure, don’t want to invest in other currencies, and don’t want to leave the cryptocurrency market. Tether (USDT) is a stable currency linked to the US dollar. When all cryptocurrency prices fall, it is obviously the most valuable value storage function. It also provides a currency to make it legalized, but There has been controversy and suspicion that Tether really has enough dollars to support its cryptocurrency, so it is difficult to gain the trust of the majority of cryptocurrency groups.