Are the Maximalists Wrong? Bitcoin’s Dominance Has Been Trending Down For the Past Six Months

Are the Maximalists Wrong? Bitcoin’s Dominance Has Been Trending Down For the Past Six Months

In fact, for the past two and a half months (since December 14 of 2019), Bitcoin’s price and dominance have been strongly inversely correlated: a 95% confidence interval puts correlation between -.92 and -.81, which is nothing short of stunning; it basically reveals that an increase in Bitcoin’s price is almost certainly accompanied by a decrease in its dominance level.