In 2017, as the price of Bitcoin rose to its all-time high, several other digital assets also began to gain traction, many of which related to initial coin offerings or other forms of fundraising. Some of these assets outperformed Bitcoin tremendously and even continued to gain value as BTC began to drop.
BTC began to lose market capitalization dominance in February 2017, dropping from 86% at that time to the 50%–60% range by the end of 2017, during the rally. Following its crash in price, Bitcoin’s dominance dropped to less than 35% in January 2018 before recovering throughout 2018 and 2019. 2017 all over again?