Topic: Are Altcoins getting Boycotted? - page 3. (Read 3789 times)
Definitely altcoins are not getting boycotted. I was asking myself why is the price of only BTC and ETH are skyrocketing at the expense of other altcoins. Then it was done on me that investors are actually selling other altcoins they have gotten in order to buy either BTC or ETH, that's probable reasons why the price of other altcoins are dropping.
I guess there will be no situation on when Alternate Coins are being boycotted. I mean, we are using the Cryptocurrency Industry and the whole industry is not being carried by Bitcoin but also by other existing coins that supports each other. We can say that Bitcoin has a major role but we can also say that its not just Bitcoin that is doing all the work. Ethereum and other Cryptocurrencies are also useful in their own ways.
Bitcoin dominance is above 65% which is something unusual since Altcoins started getting more interest from investors. It also seems that this percentage is increasing steadily for quite some time now. This is not surprising since Bitcoin was the most profitable coin in 2019 and people don't take the risk investing in altcoins anymore,they realized that Bitcoin is less risky as the price almost always eventually recover afterwards when it comes to BTC.
So what to do you think? Are altcoin getting boycotted,giving Bitcoin an increasing dominance from now on?
https://coinmarketcap.com/charts/#dominance-percentage
People are still buying altcoins for the speculation purpose and only a small percentage that use altcoin as an investment. That's why altcoin was loosing its dominance because people are moving their portfolios to the bitcoin.
Bitcoin has majorly been the major investment coin followed by Ethereum. Altcoins will always be altcoins and can never replace bitcoins as investments. They most times ride on BTC price highs. Most altcoins are paired against BTC on exchanges and that greatly determine their volume band interest. Bitcoin bans Ethereum are seen to be safe and reliable which shows why people invest in them more.
However, there are some useless altcoins developed by teams for the purpose of making money and dumping on investors. These type of altcoins copy Whitepapers word for word and at the end, investors are left with unexplainable losses .
I still have some tier one altcoins for the purpose of trading and getting profits not really investment
Although the Bitcoin dominance is presently dropping, many people are still more comfortable with buying bitcoin than investing in altcoins. As a result, only when alts gather attention and look primed for a rally do people decide to buy them. Hence the seeming boycott of alts.
That is right people are more comfortable right now about investment, that is why BTC has survived from 9k. It was a bit harder to reach 10k, but after reached this price it would be easy for BTC to reach 11k and l think it will be 12k in the near future. This event has also affected the price of other cryptocurrencies. You can see ETH and others, ETH shows right now 40% more than own early price. l hope it will keep going on till the end of the year.
Not really here in the forum and they were too many of them here to get rid of in the first place. For now, precautionary measures is the best way to get scam or involve in joining projects that could waste time and resources.
Some were still positive on altcoins especially on establish already. Even myself holding altcoins like ether and ripple. I have high hopes on this coin that someday these two coins can go high and earn high in it.
Some were still positive on altcoins especially on establish already. Even myself holding altcoins like ether and ripple. I have high hopes on this coin that someday these two coins can go high and earn high in it.
Although the Bitcoin dominance is presently dropping, many people are still more comfortable with buying bitcoin than investing in altcoins. As a result, only when alts gather attention and look primed for a rally do people decide to buy them. Hence the seeming boycott of alts.
That is right people are more comfortable right now about investment, that is why BTC has survived from 9k. It was a bit harder to reach 10k, but after reached this price it would be easy for BTC to reach 11k and l think it will be 12k in the near future. This event has also affected the price of other cryptocurrencies. You can see ETH and others, ETH shows right now 40% more than own early price. l hope it will keep going on till the end of the year. 
Not necessarily altcoins but half baked projects and redundant projects with no value to offer. The crypto industry and market has been littered with these kinds of projects bringing about a loss of interest in most altcoins and attention shifted to the other bigger and more stable cryptocurrencies. It is quite understandable that people will lose interest in some crypto projects.
Very nice point mate, too many baseless altcoin projects already yet we still face scalability issues and other drawbacks hindering blockchain/crypto mass adoption. Imagine some new projects copying Whitepaper, what then can such a project offer? Such projects over time will be extinct since they add no value. Some good altcoin projects like LINK have been really cool with development, hence can't be boycotted.
Not necessarily altcoins but half baked projects and redundant projects with no value to offer. The crypto industry and market has been littered with these kinds of projects bringing about a loss of interest in most altcoins and attention shifted to the other bigger and more stable cryptocurrencies. It is quite understandable that people will lose interest in some crypto projects.
I think people are not easily trusting like before as not many new altcoin projects good enough. Old altcoin projects already have a hard time keeping their investors to believe in them. So a market like that, Bitcoin dominance is not unexpected.
It's more than clear that there is a certain type of interest from Bitcoin mass detainers and other institutions to generate this type of feeling and view of reality. Therefore, the altcoin market depends on large movements to generate some type of movement in altcoins. The monetary result of altcoins is summed up in the valuation of Bitcoin.
Although Bitcoin's dominance in the market is inevitable, I think many people are still trusting and investing heavily on the major altcoins. Remember was have many stable and more trusting coins, other than Bitcoin, and we have been using them for a long time. If you look at the top 30 cryptocurrencies right now, most of them have been with us for many years. So I don't think there is a conspiracy that these altcoins are being deliberately ignored or boycotted. It is just how the market works.
You're right. People tend to invest in something that has a lot of reputation and credits. Therefore, those top coins right now are usually the coins that have been around the market for years. It's not easy for an altcoin to join in that list, though, it's still possible. There are some altcoins that incredibly pumps and keep doing good works, soon enough they will gain our trust. All they need is just working hard and time. Although the Bitcoin dominance is presently dropping, many people are still more comfortable with buying bitcoin than investing in altcoins. As a result, only when alts gather attention and look primed for a rally do people decide to buy them. Hence the seeming boycott of alts.
Is not it the decrease in bitcoin dominance has proven if people were not boycotting altcoins and this was never happening. People just spread the fake rumour about that and altcoins were never getting banned. I never heard this since a long time ago.
This is no longer a rumour, it's the reality.
The Binance dominance above 65% shows that the investors making mind that Bitcoin will go up in Q4 2020, AS every year at the end of the year the Bitcoin investment increased due to some bull run predictions as usual by some big whales.
It will always be like that. Aside from bitcoin no other coin that can reaches close to this, maybe for ethereum but it still to early to say that. They fueling the defi system and this could boost their marketcap. And also there are few numbers of project becoming more interested on defi means there is a chance for altcoin to improve without relying too much on bitcoin. Only scam altcoins will be boycotted and the trusted coin will remain the same on its place.
The Binance dominance above 65% shows that the investors making mind that Bitcoin will go up in Q4 2020, AS every year at the end of the year the Bitcoin investment increased due to some bull run predictions as usual by some big whales.
It will always be like that. Aside from bitcoin no other coin that can reaches close to this, maybe for ethereum but it still to early to say that. They fueling the defi system and this could boost their marketcap. And also there are few numbers of project becoming more interested on defi means there is a chance for altcoin to improve without relying too much on bitcoin. Although Bitcoin's dominance in the market is inevitable, I think many people are still trusting and investing heavily on the major altcoins. Remember was have many stable and more trusting coins, other than Bitcoin, and we have been using them for a long time. If you look at the top 30 cryptocurrencies right now, most of them have been with us for many years. So I don't think there is a conspiracy that these altcoins are being deliberately ignored or boycotted. It is just how the market works.
You're right. People tend to invest in something that has a lot of reputation and credits. Therefore, those top coins right now are usually the coins that have been around the market for years. It's not easy for an altcoin to join in that list, though, it's still possible. There are some altcoins that incredibly pumps and keep doing good works, soon enough they will gain our trust. All they need is just working hard and time. 
Although Bitcoin's dominance in the market is inevitable, I think many people are still trusting and investing heavily on the major altcoins. Remember was have many stable and more trusting coins, other than Bitcoin, and we have been using them for a long time. If you look at the top 30 cryptocurrencies right now, most of them have been with us for many years. So I don't think there is a conspiracy that these altcoins are being deliberately ignored or boycotted. It is just how the market works.
Bitcoin dominance is above 65% which is something unusual since Altcoins started getting more interest from investors. It also seems that this percentage is increasing steadily for quite some time now. This is not surprising since Bitcoin was the most profitable coin in 2019 and people don't take the risk investing in altcoins anymore,they realized that Bitcoin is less risky as the price almost always eventually recover afterwards when it comes to BTC.
So what to do you think? Are altcoin getting boycotted,giving Bitcoin an increasing dominance from now on?
The Binance dominance above 65% shows that the investors making mind that Bitcoin will go up in Q4 2020, AS every year at the end of the year the Bitcoin investment increased due to some bull run predictions as usual by some big whales.
From where did you got the 65% figure? The last time we had that high Bitcoin dominance was more than a month back. Now the market share of Bitcoin is down to 62.2%, as per Coinmarketcap. And this represents a 5% drop from the levels we had during the block reward halving (67%). There are two major factors responsible for this decline. First of all, Tether and some of the other stablecoins have increased their circulating supply. And secondly, some of the second tier alts, such as Cardano and Chainlink are witnessing a big spike in their exchange rates.
The Binance dominance above 65% shows that the investors making mind that Bitcoin will go up in Q4 2020, AS every year at the end of the year the Bitcoin investment increased due to some bull run predictions as usual by some big whales.
Although the Bitcoin dominance is presently dropping, many people are still more comfortable with buying bitcoin than investing in altcoins. As a result, only when alts gather attention and look primed for a rally do people decide to buy them. Hence the seeming boycott of alts.
Is not it the decrease in bitcoin dominance has proven if people were not boycotting altcoins and this was never happening. People just spread the fake rumour about that and altcoins were never getting banned. I never heard this since a long time ago.
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