The market remains in an apparent calm zone, or at least that is what we can see from the Bitcoin and Ethereum price action, which today is positioned above the levels of $27,000 and $1,800 respectively, equivalent to a 0.8% recovery for BTC in the last 7 days and a little more than 3% in the case of ETH.
Now, beyond the recovery shown by BTC and ETH in the last 7 days according to an analysis by Julius Baer, "Of all the recovery that cryptocurrencies have made since hitting the floor at the end of last year, 80% of that rebound is attributed exclusively to Bitcoin and Ethereum.
Referring that 80% of the recovery that the cryptocurrency market has experienced is attributed exclusively to Bitcoin and Ethereum leads us to consider it or rather to label it as the crypto duopoly conquering the international economic and financial systems.
The duopoly referred to by Baer is precisely based on data that reflect that the dominance of these two cryptocurrencies is unquestionable and allows us to speak of duopoly, the problem is that this hegemony puts thousands of tokens at risk and questions their viability.
According to information disclosed in the portal "ElEconomista", it is indicated that "precisely Bitcoin and, secondly, Ethereum, are the ones who initiate and mark the trend changes", explains Javier Pastor, director of Institutional Training of Bit2me.
Pastor explains that it is the halving of the former, the system that regulates its issuance and supply in order to revalue it, which marks the market cycles. In my opinion, we are on the verge of a major upturn in these two cryptocurrencies.
SOURCES CONSULTED
ElEconomista. The cryptocurrency rally is only 'the fault' of bitcoin and ether: the foretaste of a duopoly?. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: ElEconomista
