Total market cap - 50% off from the peak!

The current total market cap of cryptocurrency is ~ $370B USD. It's been correcting from ~$470B USD this month. The peak was made in this month when BTC hit ~ $10,000USD/BTC (May 5, 2018) although it couldn't break out the $10,000 USD/BTC level. Also, the previous total market cap top was ~$500B and this price was worked as resistance. For these reasons, this correction was well expected.
The bottom of the market cap was ~$250B USD and, therefore, ~$370B USD is exactly 50% off from the peak of ~$470B USD. So, it's possible to see the market is going up again from this point (50% is one of the major Fibonacci retracements).

BTC still controls the total market cap

The total market cap of crypto is hugely affected by BTC price ups and downs as the dominance of BTC is still ~ 37%. The BTC dominance has been dramatically decreasing through multiple cycles since last year as altcoins are also getting more attentions and people are realizing how promising protocols using blockchain technology could change the world. (great investment/trading opportunities, of course) In my opinion, the dominance of BTC will be further decreasing as there will be more competitors in the market.

Please upvote and follow me if you like this post.

Where I trade : Binance
Follow me on Twitter : Twitter

Disclaimer : I am not a certified financial advisor. This post is just my personal opinion and not financial advice. Please do your own research and do not trade just based on my posts.