Bitcoin is the world's largest cryptocurrency by market capitalization (market cap) and orders a large portion of the trading volume (and the consideration) in the cryptocurrency markets. On the off chance that we take a gander at the summative market capitalizations of all the existing cryptocurrencies, then we can show up at a total market cap valuation for the whole cryptocurrency space. In this manner, the Bitcoin dominance is depicted as the ratio between the market cap of Bitcoin to the remainder of the cryptocurrency markets.
For a long time, while Bitcoin was by a wide margin the largest cryptocurrency - and one of only a handful of exceptional in presence - its dominance was a lot nearer to 100% than it is today. Be that as it may, the Bitcoin dominance dropped essentially as new cryptocurrencies were made. This is presumably connected with the increased prevalence of ICOs after the presentation of Ethereum and the ERC-20 token standard.
Strangely, Bitcoin dominance is frequently impacted by the supposed "alt seasons", in which altcoins gain market share relative to Bitcoin, in this manner diminishing Bitcoin's dominance. Note, nonetheless, that Bitcoin dominance isn't generally straightforwardly impacted by bull or bear markets since it is a ratio, not an absolute term. This means that on the off chance that Bitcoin falls in price, however the remainder of the cryptocurrency market falls at a comparative rate, then, at that point, Bitcoin dominance is probably going to continue as before.
In spite of the fact that Bitcoin dominance is a fascinating statistic to see, one ought to keep at the top of the priority list that it doesn't mirror its real value (particularly as a result of forked and premined coins, which impact the total market cap in an extremely unnatural manner). Additionally worth taking note of, that market cap doesn't mean a flood of money. It is just a measurement in light of the circulating supply and current market price.
During the times when Bitcoin was the main cryptocurrency tradeable on exchanges, its dominance was generally 100%. Today, with more cryptocurrencies in the space, its dominance is unquestionably under 100%, however that isn't really a fortunate or unfortunate thing. Just an instrument might provide us with a better point of view of how the crypto space is developing.