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Bitcoin (BTC)

• Bitcoin (Ticker symbol: BTC, XBT)
Bitcoin was the first publicly accessible and utilizable cryptocurrency, that is fully operational on a blockchain. The cryptocurrency was released in 2009 by anonymous founder under the pseudonym “Satoshi Nakamoto”; and whose true identity remains contestable till today. Due to its position on the crypto scene and the achievements it has made, the coin has become the model for the entirety of the decentralized technology framework, as we know it today. Consequently, it is regarded as the standard for every digital currency that came after it- all of which are known as the alternative coins (altcoins). At one time, bitcoin had over 70% of the total popularity of cryptocurrency, and if you mentioned cryptocurrency, it was likely that seven out of ten persons readily think you’re referring solely to bitcoin. This has changed however, with the increasing amount of token types that are continuously being introduced, and the level of enlightenment that has increased as well.
Currently, bitcoin can be said to be a major determinant in the pricing of other altcoins on the overall market. This means, other cryptocurrencies are likely to rise in price value, only if pioneer bitcoin is rising, and vice versa. This is a reason why many cryptocurrency analyst and stakeholders have continued to say that the future of cryptocurrency acceptance and use, is largely dependent on what becomes of bitcoin.
Impressively, bitcoin market capitalization amounts have always gulped a substantial amount of the sum. Since time immemorial, its market capitalization has always accounted for over 50% of the total market capitalization of the entire cryptocurrency market.
Although some analyst say there may come a time when bitcoin would be significantly relegated, it is in fact hard to envisage, considering the many factors that have reaffirmed its position.