Bitcoin's Market Share Shrinks

Bitcoin’s Market Share Shrinks, But Price Stays Steady

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– Cryptocurrency prices are slightly higher, but bitcoin’s share of the overall market is at its lowest in as much as four years.

– During his Sept. 7 monologue, the “Tonight Show” host poked fun at the recent cryptocurrency price slide with a bogus ad for a product called “Crypto-Bismol,” a nod to the upset stomach medication Pepto-Bismol.

– Winston Ma, managing partner of CloudTree Ventures, said that bitcoins share of the overall cryptocurrency market cap, currently below 40%, is at its lowest in as much as four years.

– Ethereum’s update is intended to lower its carbon footprint while also reducing ether supply.

– Since its inception in 2009, bitcoin has functioned on a proof-of-work model.

– “The Merge continues to capture everyone’s attention, with the successful Bellatrix upgrade paving the way for the Merge to go live between 14-16 September,” said James Edwards, crypto specialist with Finder.

– Edwards said that traders looking for ways to trade the Merge have started to look at proof-of-work mining coins like ethereum classic, ravencoin and flux, “which all showcased double-digit rallies this week while the rest of the market hit the snooze button.”

– David Lesperance, managing partner of immigration and tax adviser Lesperance & Associates, warned that if crypto enthusiasts fail to understand tax laws, this can quickly wipe out any financial gains and can even result in criminal charges.

bitcoin 2 Bitcoin's Market Share Shrinks, But Price Stays Steady

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