The director general of the Bitcoin Financial Services Company (BTC) Fold issues a warning about altcoins, saying that the domination of the Crypto King market is not something that will come back.
In a new interview with CNBC Television, the CEO of Fold Will Reeves said that the best asset in crypto by the new market capitalization record is due to a combination of strong institutional and low offer.
“This is what happens when massive demand responds to the finished Bitcoin supply. And what we see at the moment is the shock of the supply offer.
So I would certainly say that what we see are the fundamental principles of Bitcoin in play …
What we have seen recently with the rise of Bitcoin cash companies, the ETFs (negotiated funds on the stock market) is that new capital classes can invest in assets. What we see is what happens when billions of dollars start to knock on the door – the price tends to increase. »»
According to Reeves, the market appetite for the BTC will lead to an irreversible increase in its levels of domination – a trend that would leave countless altcoins in competition for capital.
“Frankly, I think that (altcoins) will remain speculative. Bitcoin domination is 60% and increases. I think what we see is an inevitable trend towards the signal, the active Apex. The problem is that Bitcoin is the only neutral credible digital active ingredient that is in the show.
All the other tokens always prove to be extraordinarily speculative use cases without the history of Bitcoin. And so what we see today is the continuous walking of Bitcoin that dominates all this market … In the end, what we have seen is something that cannot be reversed. »»
Bitcoin is negotiated at $ 117,613 at the time of writing time, a lateral movement during the day. Meanwhile, Bitcoin dominance, which measures the share of total BTC cryptography market capitalization, is 64.58%.
https://www.youtube.com/watch?v=d_F7jrbzpe0
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