Bitcoin Dominance Grows in 2022 as Investors Favor Safest Crypto Option
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Bitcoin remains the most dominant cryptocurrency, making up over 50% of the total crypto market valuation. Its dominance percentage has actually increased over the past year.
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The anticipated approval of Bitcoin spot ETFs and subsequent investor demand likely contributed to Bitcoin's growing dominance in 2022.
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Upcoming events like the 2024 Bitcoin halving could further boost Bitcoin's price and dominance. Halvings limit BTC supply.
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While other cryptos may offer greater returns, Bitcoin is seen as the safest crypto investment option given its mainstream branding and large market cap.
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Bitcoin's sustained high dominance suggests it remains incredibly popular. For newer crypto investors, BTC may be the best entry point.