Bitcoin Suffers As Mid Caps Cryptos Establish Market Dominance With Wide Margin

Name	Symbol	Market	Market Cap ($)	Algorithm
Algorand	ALGOUSD	Crypto	1,608,909,408	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Algorand

ALGOUSD

Crypto

1,608,909,408

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.001	0.50%	0.1995	0.1993	0.1994

Price Change

Price Change %

Current Price

Bid Price

Offer

0.001

0.50%

0.1995

0.1993

0.1994

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.201	0.1965	0.1984	0.1985	0.081290 - 0.329600

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.201

0.1965

0.1984

0.1985

0.081290 - 0.329600

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:24:32	151.40	0.1994	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:24:32

151.40

0.1994

USD

Price x Volume	Volume	Base Symbol	Related Pairs
657,999.41	3,298,710.23	ALGO	ALGOEUR	ALGOGBP	ALGOBTC

Price x Volume

Volume

Base Symbol

Related Pairs

657,999.41

3,298,710.23

Bitcoin Suffers As Mid Caps Cryptos Establish Market Dominance With Wide Margin

15/09/2021 6:00pm

NEWSBTC

Bitcoin has now seen declining prices following the El Salvador Bitcoin law. The flash crash that had cleared at least $400 billion off the crypto total market cap has left lingering effects on the price of the digital asset. The price had plunged from $50,000 to $42,000 in less than an hour, leading to an 18% loss in about 30 minutes. While bitcoin has since recovered from its lows from the crash, the asset has not been able to recover to previous levels before the crash. Though the crash had affected most of the market, mid-cap coins have recovered the most from this. The Mid Caps Index had actually crashed along with the rest of the market. But subsequent recovery trends show that it had gained back a good percentage of its value since the crash. Related Reading | MicroStrategy Deepens Its Crypto Bet With Another $240 Million Spent On Bitcoin Mid Caps Index Outperforms In September In the month of September, the Mid Caps Index has grown 21% in September alone. This is a complete deviation from the patterns of other indexes, both the Small Caps and the Large Caps, which have both shown declines in the month of September. The Large Caps index is up only 1% in September. Likewise, keeping in line with the low recoveries, the Small Caps index is down 3% for the month. Mid Caps Index dominates market in September | Source: Arcane Research Bitcoin, which seemed to have held up well during the crash, has made the least significant recovery in the month. The asset shows the lowest performance in the month of September, down 5%, even lower than the Small Caps index. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course Altcoins have recorded better performances after the crash, despite taking the most hits with the flash crash. The week following the crash saw the altcoin market recover swiftly. Coins like Algorand which belong to the Mid Caps Index performed so well after the crash that it pulled the entire index up with it. While bitcoin has maintained low momentum and continues to struggle in the market. Bitcoin Maintains Market Dominance The performances of the indexes versus bitcoin have not had much of an impact on the market dominance of the asset. Although bitcoin lost some of its market dominance, the total for the week came out to be about 1% of market dominance lost to altcoins. Currently, the market dominance of the digital asset sits at 41.47%. The Mid Caps Index performance has seen the altcoin market creeping up to take more market share from bitcoin. BTC price trading above $47K | Source: BTCUSD on TradingView.com Bitcoin price has been showing some significant recovery patterns in the past few days. But there has not been any significant recovery in the price. The digital asset is gearing up for what looked to be a retest of the $48,000 resistance point, after having found a comfortable position above $47,000 ahead of the opening of the midweek market trading. Currently, the price is trading at $47,473 with a 24-hour price change of 2.11%. Chart from TradingView.com

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ALGOUSD Algorand