Bitcoin Solidifies Position As “King” Of Cryptocurrencies

Published on 12 October 2017

Bitcoin has risen from US$4,500 on Monday to a near record high of US$4,834 today, and it now accounts for 52% of total cryptocurrency market capitalisation – up from a low of 38% seen in June, according to Bloomberg.

“There has been a rotation of money out of the lower-quality names and into bitcoin,” Ronnie Moas of Standpoint Research commented.

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