Australia decides to join the party and adopt Bitcoin starting July 1st. This puts them almost right on par with Japan as first adopter while India, Brazil, Russia and China continue to get their ducks in a row. The Demand for Bitcoin is surging to record highs in 2017 as global leaders adapt to changes in the market. This should help maintain Bitcoins dominance in the marketplace, or should it? Since around 2013, Bitcoin has been gaining traction on a global scale and with the introduction of new investors and traders, crypto scene has exploded. As a result Bitcoin's Dominance is actually at a record low.
I got involved with Crypto Currency on January 10th, completely unaware of what I was stepping into. On January 1st the market was basically unchanged. It was rolling with a Bitcoin dominance of 87% and a market cap of 17B. However, 2017 will prove to be the year of Crypto. Today in May, Bitcoin dominance is at an all time low of 47% while market capitalization has exploded to 62B USD, with alt coins taking over controlling 32.5B USD of the total market. Ripple being the number 1 contender for market share.
If you have missed the boat so far this year on making gains in the marketplace or if you are just entering in the market, do not worry, there will be plenty of opportunity for you this year to find the right coin to ride to the bank. Many coins are still worth just pennies. This Crypto thing has only just begun and you should expect a prosperous year for anyone involved as the world goes digital and decentralized.
Nice smart move!
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Thanks for the comment
Here is a wiki link for anyone wanting to look at al the countries and their positions on Bitcoin:
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Nice, Thanks for the link!