Analyst: Bitcoin market cap will reach 85% by 2020

According to Cointelegraph, former Wall Street trader and cryptocurrency analyst Tone Vays said on YouTube recently that Bitcoin will consolidate its dominant position in the cryptocurrency market next year, which is a new blow for altcoins, with 2020 As the year approaches, altcoins will face a worse situation. Vays said, "One of my predictions for 2020 is that Bitcoin's market capitalization will reach 85% by 2020." He continued to explain that further strengthening Bitcoin's market position will repeat the gains it has achieved this year— -Its current market value is 69%, compared with 51% in January. Compared to January 2018, Bitcoin's market capitalization has increased by 87%. He believes that in the long run, this number may expand to Bitcoin's almost complete replacement of altcoin: "I think Bitcoin's market share will continue to rise. Its market share will increase from 50% to 70% in 2019 , I think there is still a 10-15% upside. This number will continue to rise to 90%, 95% and even 98%. "The fundamental factor driving the success of Bitcoin will be the growth of computing power.