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The price of Bitcoin is down slightly by 2% on a week. The asset is trading around €46,000 ($55,000) on April 28. But the focus this week is not so much on this correction, which is not so important at the moment. One fact is attracting more attention: Bitcoin’s share of the overall cryptocurrency market continues its inexorable fall. A fall that began earlier this year. While Bitcoin’s capitalization still represented 70% of the market in January, it was only 47% by the end of April. A figure that reflects several things.
On one hand, the market is fragmenting. Many cryptoassets have been created in recent years. While many have not seen any traction, others have managed to bring interesting services and attract investors and users. This is the case, for example, in the areas of DeFi or NFTs. Ethereum is taking advantage of this situation by reaching a new all-time high this week, around $2700. But less capitalized altcoins are attracting attention and are experiencing stronger growth in the last 2 months. Beyond projects like Aave, others like Solana or Polygon are potentially building increasingly rich ecosystems.
On the other hand, as developments and new possibilities for these altcoins multiply, Bitcoin is certainly strong but only offers an investment alternative: Bitcoins are held with a view to future value appreciation, given current economic and monetary policies. Bitcoin seems stronger in times of significant macroeconomic doubt. With the health and financial tensions receding, at least in the short term, we are still in a market phase where altcoins dominate. Of course, we will be watching closely for a possible reversal of this trend and a return of liquidity to Bitcoin, which can happen very quickly.
We invite you to discover our video analysis (in french and dated from April 27):
The Coinhouse recommendation :
Wait
The Coinhouse recommendation :
Buy if daily close above $2700
The Coinhouse recommendation :
Buy
1- Polygon (MATIC) : +110%
2- Solana (SOL) : +33%
3- PancakeSwap (CAKE) : +30%
1- VeChain (VET) : -24%
2- Ontology (ONT) : -22%
3- QTUM : -20%
All information in this article is provided for informational purposes only, although it has been compiled from reputable and reliable sources. It does not constitute an offer to buy or sell digital assets, nor does it constitute an offer to provide services in respect of digital assets, nor does it constitute advice, inducement or recommendation to deal in such digital assets. It constitutes simple information that is under the user’s absolute control. We inform you that if you choose to invest in digital assets, you must be aware of our general terms and conditions of sale (https://bit.ly/2FGW2ek) and accept the various risks listed and defined on our legal warning page (https://bit.ly/3c4sQKc)
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Investing in crypto-assets carries risks of liquidity, volatility, and partial or total capital loss. Crypto-assets held are not covered by deposit and securities guarantee mechanisms.
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