The criptodivisas are not going through a good time, and the main affected is bitcoin, which seems to rule the fate of all others. In recent days the popular cryptocurrency has won the whole and today has exceeded $ 8,200 in value, something that had not happened for two months.
This slight recovery could be due to the probable appearance in the United States of an official, and regulated fund (ETF) that would be based on cryptocurrencies and that will make the future confidence in this type of virtual currency earn whole. It remains to be seen if this is part of that roller coaster that has been passing the prices of cryptocurrency in recent years.
A recovery that once again means nothing
This fund is known as the VanEck SolidX Bitcoin Trust and would operate in a different way than the traditional cryptocurrency exchange markets, known as ” exchanges “. Many have been the comments that the SEC (Securities and Exchange Commission of the United States) has received both for and against the creation of this fund, which for many is a necessary step towards the consolidation of this type of currency.
The price of bitcoin came to $ 5,785 according to the Bitcoin Price Index of Coin Desk on May 24, and since then its growth has been gradual but consistent. At the time of writing this article that price is located at $ 8,230, for example.
The dependence of the rest of cryptocurrency on bitcoin is obvious: if it goes up or down, the others do it in parallel except for some deviations, but what is also true is that the concentration of operations around bitcoin is increasing as well.
In mid-May, for example, the capitalization of the cryptocurrency market was dominated by 37% by the capitalization of bitcoin, but right now that percentage is 47%: it operates more than ever with this cryptocurrency, which seems to center the Investors’ interest in alternatives such as Ethereum, Ripple, Bitcoin Cash or EOS, which are in those first positions of market capitalization today.