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Bitcoin market share evolution over 12 years: from 99% to 31% and then rebounding to close to 62.5% average in 2025.
The Evolution of Bitcoin's Market Dominance: A Review from 2013 to 2025
A recent study analyzed the daily average market share of Bitcoin from April 2013 to July 2025. The data shows that during these 12 years, Bitcoin's dominance in the cryptocurrency market has experienced significant fluctuations.
The Overall Trend of Bitcoin Market Share
Research has found that over the past 12 years, Bitcoin's market share has fluctuated between a historical low of 31.1% and an early high of 99.1%. Interestingly, during this period, Bitcoin maintained a market share of over 50% for two-thirds of the time, highlighting its continued significance in the cryptocurrency space.
From an annual data perspective, Bitcoin's average market share has gone through several distinct phases:
It is worth noting that by 2025, Bitcoin's market share will be close to the average level of 62.5% over the past 12 years.
Review of Key Periods
2013-2016: Bitcoin Dominance Era
In the early stages of the cryptocurrency industry, Bitcoin firmly held a dominant position in the market. Despite experiencing some volatility, such as the 2014 Mt. Gox exchange incident, Bitcoin's market share has remained at a high level.
2017-2018: The ICO Boom and Market Share Decline
With the rise of the initial coin offering ( ICO ) and the emergence of other cryptocurrencies, Bitcoin's market share began to decline significantly. In January 2018, Bitcoin's market share fell to a historical low of 31.1%.
2019-2020: Market Rebalancing
After the ICO craze faded, Bitcoin regained market favor. Factors such as the anticipation of the third halving and increased interest from institutional investors have driven the market share of Bitcoin to rise.
2021-2022: Emerging Projects Diversified Market
During the bull market of 2021 and the market adjustment in 2022, a large number of emerging projects and altcoins diverted market attention, causing Bitcoin's market share to decline once again.
2023-2025: Moving Towards Mainstream
In recent years, with the increasingly clear regulatory environment and the increase in institutional adoption, the market share of Bitcoin has shown a steady upward trend. Particularly, the approval of the U.S. spot Bitcoin ETF in January 2024 has further fueled this trend.
Conclusion
Over the course of 12 years of development, Bitcoin's position in the cryptocurrency market has undergone significant changes. From being the absolute leader in the early days, to developing alongside other projects, and recently reaffirming its market position, Bitcoin has demonstrated its resilience as the cornerstone of the cryptocurrency field. In the future, as the industry continues to develop and mature, Bitcoin's market position may continue to evolve, but its importance as a pioneer in cryptocurrency is expected to persist.