The CEO of Bitcoin (BTC) Financial Services Firm Fold issues a warning about Altcoins and says that Crypto King’s Market Dominance is not something that will backstrack.
In a new interview with CNBC -TV comes Fold CEO Reeves says That the best crypto supply of Market Cap’s latest new All-Time High was due to a combination of high institutional demand and low supply.
“This is what happens when massive demand meets the limited range of bitcoin. And what we see right now is the delivery shock in motion.
So I would really say what we see are the basics of bitcoin in the game …
What we have recently seen with the increase in Bitcoin Treasury companies, ETFs (exchange traded funds) is that brand new capital classes can invest in access. What we see is what happens when trillion dollars start to hit the door – the price tends to go up. ”
According to Reeves, the market’s appetite for BTC will have its dominance levels irreversibly rise – a trend that would make countless altcoins compete for capital.
“Honestly, I think (altcoins) will remain speculative. Bitcoin -dominance is 60% and rises. I think what we see is an inevitable trend towards the signal, Apex asset. The question is that Bitcoin is the only believable neutral digital asset that is in issue.
All other symbols still prove extremely speculative use cases without the banana with bitcoin. And so what we see today is the continued march of bitcoin that dominates this whole market … in the end we have seen something that cannot be reversed. ”
Bitcoin shops for $ 117,613 at the time of writing, a sideways move on the day. At the same time, the Bitcoin dominance, which measures how much of the total crypto market ceiling to BTC, belongs to BTC, 64.58%.
WHATURED IMAGE: ShutterTock / Tithith Todthong / Chrisual Shiatvskaia
