At which price will loose Bitcoin the dominance in the Crypto Market? - page 8.

Febo

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Quote from: ifinta on September 18, 2019, 01:53:51 AM

At which price will loose Bitcoin the dominance in the Crypto Market?

Coinmarketcap marketcap have little meaning. On that list are all kinds of cons, tokens securities, ... Everything and they simply cant be compared. Bitcoin can have 15 dominance but that would not change anything. It would still be most used currency. On CMC coins like Bitcoin are Litecon and then Monero. BCH And BSV are also same, just that since so many did not claimed the coins its marketcap is way to inflated. The rest are non mineable or were started in ICO. You cant compare something that is made while burning electricity with something that they just print few billions.

mersal

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IMO,it will holds its position forever,if the bitcoin loses the dominance means then I don't expect the crypto market to survive.But how someone can relate the prices with dominance,I don't consider it is not the point of measure to any decentralized thing.

beerlover

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If you mean some other currency will have the dominance over bitcoin, that will never happen. We are talking about a currency (bitcoin) that literally held 70% of ALL market and than rest of ALL coins combined together made just 30% of it. So, as you can see there is literally no way that just one currency can beat bitcoin dominance all by itself. However, if you mean when will bitcoin go under 50% than it must be easy, not too easy of course like anything worth doing but its still easier than one currency beating bitcoin in dominance.

I would highly expect to see bitcoin to drop under 50% though, altcoins have been in a bear slumber for a long time and that has cost people a lot of money and we have been waiting for an altcoin run for so long, we had a short quick burst recently but we hope for a lot more.

mu_enrico

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IMO BTC dominance is not related to the price, but the trend/hype on altcoin. In 2017/2018 ICOs powered by ETH sucked money from investors. Since the majority was a scam, then reality check hit investors hard, the money then fleed back to BTC.

BTC dominance can decrease if there is a legit cryptocurrency that is better than BTC, which is none at the moment, and I doubt there will be one that better than BTC.

1Referee

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Meh. When Bitcoin is gaining market cap dominance people trash talk altcoins, but the moment altcoins are making a bounce up Bitcoin suddenly is losing credits?

It's just common sense that nothing goes up endlessly, and nothing goes down endlessly. A lot is going to depend on what Bitcoin will do this month, and then I'm referring to what direction it will break out. It's going to be a massive move, but one that might potentially upset a lot of people and fuel altcoins even further.

I'll keep an eye on what's going to happen, but the moment I notice that altcoins are gaining fuel by capital exiting Bitcoin (i.e. a downwards break of the triangular pattern), I'll long one or two alts on Bitmex.

oaz7t

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I am pretty sure that I have seen such kind of waves coming in the past and hitting the bitcoin stability. I guess it is not worth to compare the prices of bitcoin and its dominance with altcoins. Once in a while there will be always a wave where altcoins are taking over and huge money is being spent to them and not to the bitcoin. Usually general investors try to gain money by selling their bitcoin for buying altcoin for temporary trades. This then creates a scenario where altcoins are more stronger. For example if you watch ETH right now then there is 8.04% of hike in just 24 hours as compared to the bitcoin which has got only 0.08% so far.

But obviously that is all because of temporary buys and sells in the sake of quick profit making.

I believe it will reverse in few days or in lesser time and bitcoin will regain the original dominance which is not fixed by the way.

hugeblack

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Dominance is a measure of trust in altcoins and is not directly related to price but has an indirect effect.
The reason for the decline at this moment may be due to a rise in ETH, the price has risen in the past days and therefore people may find some gains in altcoins instead of BTC.

Regarding the price relationship, I don't think the impact is directly but the effect is through profits.

ifinta

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Some opinion about the actual market situation:

Quote from: ifinta on September 18, 2019, 01:20:46 AM

Quote from: exstasie on September 17, 2019, 06:53:47 PM

Quote from: ifinta on September 16, 2019, 02:30:47 AM

I'm betting you're right. Altcoins I'm watching are showing lots of strength against BTC. Ethereum is looking especially strong.

Alt-BTC pairs have probably already completed the earliest phases of a Wyckoff accumulation schematic. Now we're looking for a "sign of strength" to indicate a new uptrend. Something along the lines of what we saw in the first 2 weeks of January in 2017:

Many thanks. You think a similarity (in technical viewpoint) as I see (from my fundamental viewpoint) with early 2017...... Here is the diagram:

1. accumulation phase, to have i.e. BTC's to "drop" or "invest" later...
2. the "attack". a try to break the dominance of BTC agains other crypto's (three main competitors at THAT time: USD, ETH, XRP ... I don't write for Tether: USDT, because the truth is USD with the FED of the USA)

We have 5 weeks or 7 weeks before ETH breaks the dominance of BTC? We are ahead of an interesting time I think. Be strong. Hold your coins Grin

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