Bitcoin's current market cap is above 66% of that for all the other altcoins combined. Even if it went down to, say, 40%, BTC still would remain dominant in regards to market capitalization. Bitcoin is the most trusted coin among crypto currencies, and, in fact, all the other alts owe BTC that they are getting any adoption at all. Can any of them replace the king? Maybe, but not in this universe, where, apart from being number one already, Bitcoin has the best team of developers around.
Let's accept the fact that there will be the time that bitcoin will get replaced by a better cryptocurrency. It might be already existing or soon to be released by its developers. Bitcoin is like Nokia which is the pioneer of the cellphone and now it is replaced by the better ones like apple, samsung, huawei and many more. It is not about being the first or being the king, it is about the features and capabilities that you have an advantage on compare to others.
Topic: At which price will loose Bitcoin the dominance in the Crypto Market? - page 2. (Read 1274 times)
January 21, 2020, 01:11:01 AM
January 20, 2020, 07:36:24 AM
For Bitcoin to lose domininance, the price would probably have to drop first. If the price keeps increasing, it’s hard for an altcoin to catch up but it is possible with a coin like Ethereum.
Wrong! When the prices of Bitcoin falls, all other altcoins fall too. The prices of cryptocurrencies are determined by the trust of investors. When the prices of Bitcoins start falling, several holders start selling their bitcoins (weak hands). Such events reduce the overall trust of investors in crypto market. Eventually, other coins fall too. In percentage, bitcoin is still able to maintain its dominance.
So in short, it is wrong to assume that dominance has any correlation with bitcoin's price. Unless any other coin become excessively famous or some kind of flippening happens, bitcoin will continue to maintain its dominance at any price.
January 20, 2020, 07:25:48 AM
Bitcoin's current market cap is above 66% of that for all the other altcoins combined. Even if it went down to, say, 40%, BTC still would remain dominant in regards to market capitalization. Bitcoin is the most trusted coin among crypto currencies, and, in fact, all the other alts owe BTC that they are getting any adoption at all. Can any of them replace the king? Maybe, but not in this universe, where, apart from being number one already, Bitcoin has the best team of developers around.
Let's accept the fact that there will be the time that bitcoin will get replaced by a better cryptocurrency. It might be already existing or soon to be released by its developers. Bitcoin is like Nokia which is the pioneer of the cellphone and now it is replaced by the better ones like apple, samsung, huawei and many more. It is not about being the first or being the king, it is about the features and capabilities that you have an advantage on compare to others.That's right, and that's why I mentioned the team of developers. Situations with Nokia and Bitcoin are incomparable, in my opinion. Nokia produced its first mobile phone in 1987, when there were no Internet, or, at least, there were no global internet as we know it today. Nokia, by no means, was regarded as a symbol of freedom and independence by smart people around the world, and even if it were so, those people couldn't cooperate so effective as they can today with the help of the Internet. That's why Nokia lost the game, and Bitcoin will win.
January 18, 2020, 09:08:22 AM
For Bitcoin to lose domininance, the price would probably have to drop first. If the price keeps increasing, it’s hard for an altcoin to catch up but it is possible with a coin like Ethereum.
January 18, 2020, 08:58:58 AM
Bitcoin's current market cap is above 66% of that for all the other altcoins combined. Even if it went down to, say, 40%, BTC still would remain dominant in regards to market capitalization. Bitcoin is the most trusted coin among crypto currencies, and, in fact, all the other alts owe BTC that they are getting any adoption at all. Can any of them replace the king? Maybe, but not in this universe, where, apart from being number one already, Bitcoin has the best team of developers around.
Let's accept the fact that there will be the time that bitcoin will get replaced by a better cryptocurrency. It might be already existing or soon to be released by its developers. Bitcoin is like Nokia which is the pioneer of the cellphone and now it is replaced by the better ones like apple, samsung, huawei and many more. It is not about being the first or being the king, it is about the features and capabilities that you have an advantage on compare to others. January 18, 2020, 08:10:21 AM
Bitcoin's current market cap is above 66% of that for all the other altcoins combined. Even if it went down to, say, 40%, BTC still would remain dominant in regards to market capitalization. Bitcoin is the most trusted coin among crypto currencies, and, in fact, all the other alts owe BTC that they are getting any adoption at all. Can any of them replace the king? Maybe, but not in this universe, where, apart from being number one already, Bitcoin has the best team of developers around.
January 13, 2020, 11:21:39 PM
In my own personal opinion, it is impossible for bitcoin to lose it's dominance because a lot of people are putting most of their money in bitcoin than altcoins and a lot of people are depending on bitcoin, so if bitcoin will have a chance to lose it's value definitely every cryptocurrency in the market will also lose it's value.
The dominance of bitcoin over this market seems like it is going to last as long as this market keeps existing, many coins in the past claimed to be better than bitcoin and at that time many people believed in those claims but years later we understand that there is only one bitcoin in this market and it seems as if it is never going to be surpassed so even if the price of bitcoin were to crash now no coin will take its place and this market will simply disappear. January 09, 2020, 01:06:26 PM
In my own personal opinion, it is impossible for bitcoin to lose it's dominance because a lot of people are putting most of their money in bitcoin than altcoins and a lot of people are depending on bitcoin, so if bitcoin will have a chance to lose it's value definitely every cryptocurrency in the market will also lose it's value.
January 09, 2020, 11:27:17 AM
It is both about bitcoins price but also altcoins price isn't it? I mean if bitcoin goes up and altcoins go down the dominance will go up but if we could somehow get both bitcoin and altcoins go up at the same time we don't have to have a dooms scenario in our hands.
So, what we should focus on is to get people to invest into bitcoin but at the same time show people how awesome other altcoins are as well which would both increase the price of bitcoin but also increase the price of altcoins which would at worst keep the dominance at bay. However, right now there are too many people who trust bitcoin a lot and not altcoins so much, people who trust altcoins are out there all the time, we need to increase the number of those people just like we do for bitcoin.
So, what we should focus on is to get people to invest into bitcoin but at the same time show people how awesome other altcoins are as well which would both increase the price of bitcoin but also increase the price of altcoins which would at worst keep the dominance at bay. However, right now there are too many people who trust bitcoin a lot and not altcoins so much, people who trust altcoins are out there all the time, we need to increase the number of those people just like we do for bitcoin.
January 09, 2020, 08:54:16 AM
What will happen when the Bitcoin price rises to over $ 100000. Do people take bitcoin anymore? Or how people will trust bitcoine. If the price goes down from $ 100K to $ 1k, the world economy moves. Because very large capital owners sink.
$ 100k reduction to $ 1000 will not happen in my opinion, unless Bitcoin is rumored to be dead, because Bitcoin is not only owned by 1-2 people, all of them hold bitcoin to be made an investmentI agree with this. Millions of people own BTC these days, and if it hit $100k at least once, it would take many years of bear market to go below $10k after that. Remember that it never went down below $120 after hitting $1,200 in December 2013, and then it never went down below $2k after hitting $20k in December 2017. I think, BTC can descend to 10% of the previous ATH only in the case of a big catastrophe.
And it will never lose its dominance in the Crypto Market. Basically we have two options. Either all the market is dead, or Bitcoin is dominant.
January 09, 2020, 06:00:54 AM
Can Bitcoin weight never shrink? I think it will fall back. However, this may continue for longer. Bitcoin owners do not want prices to fall. This could be better for the Altcoins this year. As long as the bitcoin price is fluctuating, the dominance will be high.
I wonder even more if Bitcoin's price can stay high with market dominance <70%
If its possible - Btc users shouldn't care about dominance and could support new good projects anyway
January 09, 2020, 01:00:31 AM
Anyone can make an estimate for Bitcoin domination. I think a little different. What happens if the Bitcoin price drops too much? What happens if the Bitcoin price drops to $ 10. Maybe a altcoin will declare its independence.
Independence to bitcoin's dominance? Don't you think that bitcoin fall for that price these crypto currencies will fall too? Might die to be exact. Crypto currencies price usually follows the fall of bitcoin and if the price fell that low, then we are also seeing cheap prices of these altcoins.
December 30, 2019, 12:43:49 PM
Can Bitcoin weight never shrink? I think it will fall back. However, this may continue for longer. Bitcoin owners do not want prices to fall. This could be better for the Altcoins this year. As long as the bitcoin price is fluctuating, the dominance will be high.
December 30, 2019, 08:51:07 AM
Anyone can make an estimate for Bitcoin domination. I think a little different. What happens if the Bitcoin price drops too much? What happens if the Bitcoin price drops to $ 10. Maybe a altcoin will declare its independence.
Independence to bitcoin's dominance? Don't you think that bitcoin fall for that price these crypto currencies will fall too? Might die to be exact. Crypto currencies price usually follows the fall of bitcoin and if the price fell that low, then we are also seeing cheap prices of these altcoins.
December 29, 2019, 06:27:52 PM
Anyone can make an estimate for Bitcoin domination. I think a little different. What happens if the Bitcoin price drops too much? What happens if the Bitcoin price drops to $ 10. Maybe a altcoin will declare its independence.
Independence to bitcoin's dominance? Don't you think that bitcoin fall for that price these crypto currencies will fall too? Might die to be exact. Crypto currencies price usually follows the fall of bitcoin and if the price fell that low, then we are also seeing cheap prices of these altcoins.
December 29, 2019, 05:50:02 PM
Anyone can make an estimate for Bitcoin domination. I think a little different. What happens if the Bitcoin price drops too much? What happens if the Bitcoin price drops to $ 10. Maybe a altcoin will declare its independence.
December 29, 2019, 04:15:03 PM
Bitcoin needs to lose market dominance. Because the price of any other project can not rise. Altcoins can't find a space for themselves. New investors are also investing in bitcoin. New investors now have to choose altcoins instead of Bitcoins. I think Bitcoin dominance will start dropping after $ 128,000.
Bitcoin does not have to do anything especially lose market dominance, if the market was full of great projects and developers ready to make anything to improve the code of bitcoin then you may have a point but since that is not what we have in the market of cryptocurrencies we are stuck with a bitcoin that is extremely dominant and that most likely it will get even more dominant in the future as the average person decides to enter in the market. December 28, 2019, 03:37:34 PM
Bitcoin needs to lose market dominance. Because the price of any other project can not rise. Altcoins can't find a space for themselves. New investors are also investing in bitcoin. New investors now have to choose altcoins instead of Bitcoins. I think Bitcoin dominance will start dropping after $ 128,000.
Bitcoin does not have to do anything especially lose market dominance, if the market was full of great projects and developers ready to make anything to improve the code of bitcoin then you may have a point but since that is not what we have in the market of cryptocurrencies we are stuck with a bitcoin that is extremely dominant and that most likely it will get even more dominant in the future as the average person decides to enter in the market.
December 28, 2019, 01:26:51 PM
What will happen when the Bitcoin price rises to over $ 100000. Do people take bitcoin anymore? Or how people will trust bitcoine. If the price goes down from $ 100K to $ 1k, the world economy moves. Because very large capital owners sink.
When that happen I think there are some coin that will be incoming from the high value of bitcoin and soon it will dump also because a lot of person do sell their money. When the price gains a low value then soon it would recover because time is unlimited and there are a lot of things that are possible to happen.
December 27, 2019, 10:45:51 PM
Bitcoin needs to lose market dominance. Because the price of any other project can not rise. Altcoins can't find a space for themselves. New investors are also investing in bitcoin. New investors now have to choose altcoins instead of Bitcoins. I think Bitcoin dominance will start dropping after $ 128,000.
Bitcoin does not have to do anything especially lose market dominance, if the market was full of great projects and developers ready to make anything to improve the code of bitcoin then you may have a point but since that is not what we have in the market of cryptocurrencies we are stuck with a bitcoin that is extremely dominant and that most likely it will get even more dominant in the future as the average person decides to enter in the market. Jump to: