Will increase the dominance of the Bitcoins to Altcoins more?
Investors who buy in Coinbase for the first time, digital Assets, opt for Bitcoins; a large part of the investors changes, but later lau a report of the stock exchange to Altcoins
Most investors Bitcoin offers the opportunity for entry into the Altcoins. That is why investors opt for the first purchase, according to a research report from Coinbase as the first digital asset to BTC
The report shows that about 60 % of people put as the first crypto-currency to Bitcoin. However, only 24% choose to keep their Bitcoin holdings after the purchase completely. The majority of ventures in search of investment options to the Altcoin market.
The report shows that the majority of investors s on great price booms abziel(t), especially in situations where Altcoins were parallel to the Bitcoin on a bull run. For example, hurried to investors in the year 2017 during the bull market in other leading crypto. Much of volume secured at the time Ethereum, as of the ICO market experienced a Boom.
In the aforementioned bull market, bought and traded most of the Coinbase investors Ethereum and Litecoin. Here the trade volume to 70 %, which pushed the Bitcoin dominance index for Coinbase below a value of 30% was.
The report also suggests that the Altcoins rose in December 2019 up in the first few months of 2020. Investors, pushing currencies such as Ethereum, Tezos, BAT and Stellar.
Justin Mart notes, the behavior of the Bitcoin purchase and the subsequent Altcoin-switching can be various arguments to explain. A possible reason could be the Listing extension with new crypto-currencies in the home of Coinbase. Nevertheless, Mart noted that, in particular, a psychological aspect could be the cause for the behavior:
“The people feel when the first crypto-investment (in BTC) is probably what you are in search of other possible winners of the asset class leads …“
The report in the Coinbase, the Bitcoin’s dominance increased to a constant value of about 50 %, after they fell during the 2017er bull market to under 30 %. The trading volume demonstrates The preference for alternative assets – so Altcoins – continues to grow significantly.
“Bitcoin is and probably remains a long time in the crypto king. The leading crypto-currency, but also offers thousands of other flowers the chance to flourish“, as Mart puts it.
In many respects, the current report also confirms the already known earlier findings. Other analysts referred to the Bitcoin as a sort of “gateway drug” for investors who get in Altcoins.
