All Eyes on BTC Dominance! - page 4.

NewRanger

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Quote from: pixie85 on April 29, 2021, 04:58:17 PM

I don't think it will go far below 50%
This dip is temporary as people are trying to realize their gains from the bitcoin's bull run, hoping altcoins will go up more and Bitcoin will turn into a bear market.

2 things that can happen now is:
bitcoin will go up and people will dump some of their altcoin holdings to join another wave of the bull run
bitcoin will crash to 50% of its ath and altcoins will crash with it

You can see where some of the BItcoin went by watching the dominance charts.
While BItcoin fell below 50% ETH, XRP and BNB gained some points.

i've check current bitcoin dominance and now its sitting on 48,3% so in my opinion it will be altcoin season . eth and binance already start it with current all time high and maybe another coins will do the same too. looks like now bitcoin move parallelly with altcoin , no more contra movement from altcoin to bitcoin.

MadeMen

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We've always had btc dominance in the cryptocurrency space, I believe it's expanding due to the bull run and the fact that altcoin is also increasing should bring the dominance to a halt, but that doesn't seem to happen. The bull run of this season has lasted for quite a while now and it could bring about some chances for some thing different in the market.

Willitivity

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Quote from: forexandcryptoauditor on April 29, 2021, 04:29:56 PM

Being a leader or I should say the father of cryptocurrencies, bitcoin has dominated all other cryptocurrencies since the beginning. However, with the surge in the interest of other currencies, there is an increase in investments in altcoins. In the month of Jan 2021, the dominance was more than 70% and today while writing this post, it is at 49.50%(https://in.tradingview.com/symbols/CRYPTOCAP-BTC.D/). I hope as BTC price will increase, dominance will increase again.

It's not clear when Bitcoin's dominance is heading to next because even though it took serious beatings and fell from 77 to around 51-55 at the moment, people on and outside the forum think that altseason is just getting started or hasn't started yet. If that is true, that means the dominance would break the long time support of 45 - 50. Bitcoin has been on top for a very long time, and I don't think it would lose that spot anytime soon.

pixie85

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I don't think it will go far below 50%
This dip is temporary as people are trying to realize their gains from the bitcoin's bull run, hoping altcoins will go up more and Bitcoin will turn into a bear market.

2 things that can happen now is:
bitcoin will go up and people will dump some of their altcoin holdings to join another wave of the bull run
bitcoin will crash to 50% of its ath and altcoins will crash with it

You can see where some of the BItcoin went by watching the dominance charts.
While BItcoin fell below 50% ETH, XRP and BNB gained some points.

Scripture

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Quote from: DigitalFox on April 29, 2021, 04:22:29 PM

Quote from: Maslate on April 29, 2021, 04:07:17 PM

BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH

It's been just 2 weeks since the last ATH and the one before that was in March. I don't think this is a valid point for assessment.

This is to confirm the altcoin season since Bitcoin stabilize on a good price for now and many altcoins are rising unexpectedly. The so called shitcoins are now rising and making a lot of money for the scalpers, if Bitcoin dominance continues to fall or to stay on this level for now, the altcoins season will become stronger so better to hold more good altcoins now since ATH with altcoins is still possible.

Gozie51

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Quote from: very_452001 on April 11, 2021, 05:09:33 AM

- Once btc stops at $70k and go sideways between $60-70k like it is doing now between $50-60k then will btc lose dominance and its alt season again for another month or longer right till btc takes the next leg up to $80k right?

I do think that the high price doesn't really determine the amount of bitcoin dominance because other coins too will rise in value just like bitcoin. For making example, Ethereum too has its own dominance, likewise bnb. So all of them have little percentage of dominance they have in the market. Therefore, if bitcoin increase to $70k, the dominance may rise or still be in same position because others too could rise in dominance or fall, so it depends.

forexandcryptoauditor

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Being a leader or I should say the father of cryptocurrencies, bitcoin has dominated all other cryptocurrencies since the beginning. However, with the surge in the interest of other currencies, there is an increase in investments in altcoins. In the month of Jan 2021, the dominance was more than 70% and today while writing this post, it is at 49.50%(https://in.tradingview.com/symbols/CRYPTOCAP-BTC.D/). I hope as BTC price will increase, dominance will increase again.

xiboothrezi

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Quote from: Maslate on April 29, 2021, 04:07:17 PM

BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH, this is the time where investors will transfer their money to altcoins as it's more profitable at the moment. As long as bitcoin will not dump, altcoins would continue to rise and that is the beauty of the altcoins season.

BTC dominance represents the level of global Bitcoin market demand, this is often used as a reference to determine market trends. As you explained, in general, if BTCd drops <50% then there is a chance that altcoins will increase in value.
But we need to know, the market often moves with a certain rhythm: BTC prices increase followed by altcoins, BTC prices fall and altcoins rise, BTC prices fall and drag the altcoins, BTC prices tend to be flat as well as altcoins.
whatever it is, we must be prepared to face every possibility, take advantage of the opportunities that exist as well as possible.

DigitalFox

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Quote from: Maslate on April 29, 2021, 04:07:17 PM

BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH

It's been just 2 weeks since the last ATH and the one before that was in March. I don't think this is a valid point for assessment.

lixer

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Quote from: Maslate on April 29, 2021, 04:07:17 PM

BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH, this is the time where investors will transfer their money to altcoins as it's more profitable at the moment. As long as bitcoin will not dump, altcoins would continue to rise and that is the beauty of the altcoins season.

You contradict yourself. When people transfer their money from bitcoin to altcoins then bitcoin will dump, right? But, you need at the same time bitcoin will not dump so that altcoins will continue to increase, how it will be possible?

Honestly I never consider bitcoin dominance as a significant factor for investing into altcoins or for shorting bitcoins. I just do both of them after spending long hours in my technical part alone. When we are good in technical analysis then we can simply ignore bitcoin dominance kind of non-significant comparing metrics.

Maslate

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BTC dominance is now below 50%, this is now the start of the altcoins market, bitcoin is only fluctuating and it's not anymore creating a new ATH, this is the time where investors will transfer their money to altcoins as it's more profitable at the moment. As long as bitcoin will not dump, altcoins would continue to rise and that is the beauty of the altcoins season.

sana54210

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Quote from: ?? on ??

Quote from: tvplus006 on April 27, 2021, 09:50:04 AM

Today, bitcoin's dominance has dropped below 50%. The last time the BTC dominance was at this level was 2 years ago, in April 2019. If the altcoin season continues, BTC's dominance should continue to decline, at the end of which the market will obviously turn bearish.

You mean bearish for bitcoin or bearish for alts?

What I notice is when btc dominance is low and at that moment if btc crashes then it doesn't drag down alts too like it use to so its like btc and alts are not correlated any more in price.

Just look at Ethereum now, still classed as an altcoin. Its chart looks like its independent now (not correlated to anything) and will rise or fall regardless of what bitcoin's price does.

When bitcoin becomes too low on dominance that means bitcoin price is not doing good, and when bitcoin price is not doing too good, the price of alts will go down as well. It is not something that people do knowingly, it is just how the market works.

First people end up buying bitcoin, which increases price of bitcoin, they people keep buying more and more and more bitcoin which increases the price of bitcoin so much that it reaches insane levels, last year price reached as low as 4k in march, it was peaked at 64k this year, that is 16 times increase and that is what made people start putting money into bitcoin, that happened just a month ago or so which dropped the bitcoin dominance. At the end of the day we are talking about people who thinking bitcoin may not go up too much anymore and chasing 3x 5x 10x type profits from alts, when they can't make that and when they go back to bitcoin, if they stay there everything is nice, if they do not then there is a problem.

SaShiRaJaVu

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Quote from: very_452001 on April 11, 2021, 05:09:33 AM

What's the lowest do you guys think BTC dominance will touch down to? 50% or lower?

What i cannot understand is why is this a big deal now, there are thousands of coins and tokens in the market and if bitcoin is keeping a 50% dominance is because the rest of the market are just name sake considering the number of coins in existence. We have to let go of the obsession of the dominance if you are looking for the rest of the coins to rally as well. In the past i did care about the bitcoin dominance but now a days i rarely bother about that.

Coyster

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Quote from: ?? on ??

What I notice is when btc dominance is low and at that moment if btc crashes then it doesn't drag down alts too like it use to so its like btc and alts are not correlated any more in price.

That's what it seems atm, Bitcoin has been doing pretty bad in the past couple of days, in sharp contrast to altcoins like Ethereum for example that have been doing somewhat good, I'd not say alts and Bitcoin are no longer connected, and prolly this scenario has to occur for quite a while before we can lay claim to that, Bitcoin's dominance in the next few weeks will determine a lot for the crypto network.

Golftech

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Quote from: SquallLeonhart on April 29, 2021, 09:36:25 AM

Quote from: very_452001 on April 11, 2021, 05:09:33 AM

- Once btc stops at $70k and go sideways between $60-70k like it is doing now between $50-60k then will btc lose dominance and its alt season again for another month or longer right till btc takes the next leg up to $80k right?

Your prediction seems practical but I guess it needs another one month of time to happen. Right now, bitcoin markets got stuck within 50k leg and also losing dominance in total crypto marketcap. Probably $60k to $70k leg may happen in May month along with significant improvement in bitcoin dominance in total crypto marketcap. As of now, bitcoin remains stagnant and altcoins dominate.

Honestly I'm not following bitcoin dominance metric as I'm not giving any importance for it in my technical analysis. I am comfortable without considering it to generate accurate signals for my trading.

We never know what future will bring, but with how the market is moving I also see that

the possibilities is really high, some break for Bitcoin then Alts will move then bounce for

Bitcoin and we will see another try to hype for much higher value. It's all about trusting your

assessment, your money your call..

SquallLeonhart

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Quote from: very_452001 on April 11, 2021, 05:09:33 AM

- Once btc stops at $70k and go sideways between $60-70k like it is doing now between $50-60k then will btc lose dominance and its alt season again for another month or longer right till btc takes the next leg up to $80k right?

Your prediction seems practical but I guess it needs another one month of time to happen. Right now, bitcoin markets got stuck within 50k leg and also losing dominance in total crypto marketcap. Probably $60k to $70k leg may happen in May month along with significant improvement in bitcoin dominance in total crypto marketcap. As of now, bitcoin remains stagnant and altcoins dominate.

Honestly I'm not following bitcoin dominance metric as I'm not giving any importance for it in my technical analysis. I am comfortable without considering it to generate accurate signals for my trading.

very_452001

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Quote from: Billo_ on April 26, 2021, 08:38:39 PM

I agree, experts are very sure it is important to look at Bitcoin dominance

Quote from: very_452001 on April 11, 2021, 05:09:33 AM

What's the lowest do you guys think BTC dominance will touch down to? 50% or lower?

Most experts expect it to be like it was last time few years ago, when Bitcoin dominance was at 35%, which is already really, really low and would mean huge gainz for many alt coins. But we need to know also: since few years ago, we have many new alt coins more and as a result, it could mean a lower Bitcoin dominance or not so much price increase per coin because all money will be distributed to more coins.

How many altcoins where there in total according to coinmarketcap back in 2017? 2000 alts?

How many alts now? 9000?

So your logic is even though btc dominace drops to record low like 30% or even 25% it is still btc king because 25-30% monopoly of the 9000+ alt crypto market now is still a huge success right for bitcoin?

Quote from: tvplus006 on April 27, 2021, 09:50:04 AM

Today, bitcoin's dominance has dropped below 50%. The last time the BTC dominance was at this level was 2 years ago, in April 2019. If the altcoin season continues, BTC's dominance should continue to decline, at the end of which the market will obviously turn bearish.

You mean bearish for bitcoin or bearish for alts?

What I notice is when btc dominance is low and at that moment if btc crashes then it doesn't drag down alts too like it use to so its like btc and alts are not correlated any more in price.

Just look at Ethereum now, still classed as an altcoin. Its chart looks like its independent now (not correlated to anything) and will rise or fall regardless of what bitcoin's price does.

[moderator's note: consecutive posts merged]

tvplus006

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To the Moon

Today, bitcoin's dominance has dropped below 50%. The last time the BTC dominance was at this level was 2 years ago, in April 2019. If the altcoin season continues, BTC's dominance should continue to decline, at the end of which the market will obviously turn bearish.

ipanks

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No one will know for sure how deep bitcoin price will go down. People can only predict if bitcoin will crash to $20k or stay at a price now and not go down too deep. Bitcoin dominance is still high, and bitcoin's demand is good until now and we already saw that bitcoin has the power to lift the price and back to above $50k. But we admitted that the downtrend yesterday makes many people worry if the price will go down for more.

Billo_

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I agree, experts are very sure it is important to look at Bitcoin dominance

Quote from: very_452001 on April 11, 2021, 05:09:33 AM

What's the lowest do you guys think BTC dominance will touch down to? 50% or lower?

Most experts expect it to be like it was last time few years ago, when Bitcoin dominance was at 35%, which is already really, really low and would mean huge gainz for many alt coins. But we need to know also: since few years ago, we have many new alt coins more and as a result, it could mean a lower Bitcoin dominance or not so much price increase per coin because all money will be distributed to more coins.

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