Moment when I realized why Bitcoin(₿) is king.
Number 1 position in the market and never sliding from it and the market dominance of BTC in the cryptocurrency market always remains close to 50% of the total market cap proves how much BTC is ahead of the other cryptocurrencies in the market as a store of the wealth in the cryptocurrency market. Seeing the BTC market dominance with its fixed supply of 21 million, you will understand that having billions of coins and an inflationary supply does not help. So I took some of the top coins based on market cap (leaving the stablecoins from the mix).
So here is the first coin for the comparison.
1. Ethereum
Undisputed number second in ranking and the first cryptocurrency that brings the concept of smart contract. It is one of the investor favorites, let's take a look at its chart.
A year ago it was close to .07 BTC but now it has slid to .06 BTC though it has some gains in between where it crossed .075 BTC.
2. BNB
It might be not the correct time to compare BNB as there is a lot of FUD currently but who can control the FUD?
Look like BNB lost almost 50% of its value against BTC from .015 to .075 .
3. XRP
Cryptocurrency by Ripple corporation and I guess Ripple has really some strong presence in financial markets that use Blockchain. Did XRP fared well?
They lost almost 20% value as compared to BTC, Even their win against SEC did not help them in the long term where they faded again after a momentary spike.
4. Solana
Backed by venture capitalists and at one time it was one of the hottest cryptocurrency, let's see how it is doing.
Lost half of it's value against BTC and may dip more when FTX that has large reserves in Solana try to liquidate it.
5. DOT
DOT aka Polkadot is one of the hottest projects as it is capable of supporting multichain and heterogenous blockchains to interact with one another.
Look like in the bear market, DOT did not fare well aginst BTC.
Source
6. SHIB (Shiba Inu)
I guess without comparing a meme coin in this list, this list will be incomplete.
Look like the meme coin Shiba Inu story in this regard is no different than other crypto currencies compared earlier.
Please note, the list is taken from the top 20 cryptocurrencies in market cap, Feel free to check others in the top 20, I guess you will land into similar results.
So BTC is No Brainer investment.
By comparing BTC with the top of the cryptocurrencies, it looks like in the bear market, BTC is a no-brainer investment. In the Bull market, you will definitely get the benefit of the bull run. So even if you are a new or old investor in cryptocurrency, if you want to invest, investing a part of it in BTC looks like a very reasonable choice.
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Posted Using LeoFinance Alpha
