While the crypto market is experiencing bloodshed, BTC currently holds 46.51% of the crypto market. We cannot say the same for altcoins as major altcoins have already been hit.
Project Syndicate, a well-known trader at Tradingview, claims that Bitcoin's market share will rise. He also believes that Bitcoin's market share will exceed 50%.
Michael Saylor, CEO of MicroStrategy, said in an interview recently that if BTC does not disappear or fall to zero, it will reach $1,000,000. Altcoins can`t claim the same, as Project Syndicate says altcoins will continue to suffer until BTC retests the 50% dominant market level.
The crypto market has been in a severe downtrend following the collapse of the Bitcoin and Terra ecosystems. Under the top ten digital currencies Luna faded to zero within a week.
TerraClassic (LUNC) is down 100% from its all-time high of $119. The LUNA token is also down and is currently trading at $3.12. The current situation seems to make it impossible for Daoquan to rebuild the Kingdom of Terra to its original state.
According to ProjectSyndicate the altcoin will follow the downtrend until the end of July or August. Because the bear market will continue, the market may not be good for altcoin investors.
