#Bitcoin is now half of total cryptocurrency market capitalization
Bitcoin (BTC) now has reached the stage where it makes up fully half of the entire capitalization of the cryptocurrency market. Just past 03:00 UTC August 11 CoinMarketCap's bitcoin dominance rate reached 50 percent, the first time since Dec. 19, 2017. As the CoinDesk article that reported this data went to press on 04:08 UTC bitcoin's market capitalization was $105,785,552, 545 about $901 million more than the market value of all other cryptocoins combined.Bitcoin's dominance rate has been increasing over several months. From May 1st to now it has increased 14 percent whereas the dominance of most all other cryptocoins have been in decline. On Dec. 19th the average price of BTC was $17,605. or much higher than today. There is little sign that bitcoin will return to that level any time soon.
