Bitcoin [BTC] being the first and most expensive Cryptocurrency ever introduced in this world yet again showed its superiority and domination among other cryptocurrencies or altcoins.
Earlier in the month of September, the leading cryptocurrency, Bitcoin [BTC], lost a big share of its market cap which resulted in the downfall of other crypto market assets also. Due to this sudden downfall in the market capitalization of many other cryptocurrencies followed by Bitcoin, several share-owners also started to withdraw their positions and its market cap further declined considerably up to $823 billion within a period of just 2 days.
Due to the Bitcoin being the most costly, famous and oldest, and first cryptocurrency ever, its impact can be seen on other altcoins such as Ethereum and Cardano as their market share fell by a lot of margins too.
Ethereum with a market capitalization of almost around $380-$400 billion fell up to $351 billion followed by Binance Coin at $58 billion, and Cardano with $70 billion, Tether with $68 billion, and XRP with $45 billion of market capital at present.
The year 2021 can be considered a golden time for cryptocurrency lovers.
Altcoins have become the new and modern way of money investment and management in today’s world.
The month of July 2021 saw a huge surge in the number of crypto users in the whole world as 221 million new people joined the market.
But talking about the present situation, the crypto markets have become very vulnerable due to the fall of the market cap of Bitcoin which also caused a correction in the prices of the Cryptocurrencies as the people are scared due to this sudden downfall. But it is not a big deal, it can and will recover in some days.