Bitcoin dominace - page 2. | Bitcointalksearch.org

Vickysagar

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Quote from: MusaMohamed on September 19, 2023, 07:23:11 PM

Quote from: OgNasty on September 19, 2023, 03:33:42 PM

I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

Without Bitcoin, other shitcoins will mean nothing. Bitcoin dominance is smaller than it actually is because so many abundant altcoins have been created too easily and contributed a lot to cryptocurrency market cap that reduces Bitcoin dominance.

Like a new shit coin created and pumps x100, with high total supply but in fact its value is zero and after a while, its price will be corrected to actually reflect its value. Altcoins die with time but Bitcoin becomes stronger with time. In other words, Bitcoin dominance is bigger with time in this perspective.

The more people learn about crypto the more they realize how BTC dominance is important. All those shitcoins and memecoins will go away, at least 99% of them. BTC and some quality coins will stay. But I'm not so sure about those altcoins.

MusaMohamed

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Quote from: OgNasty on September 19, 2023, 03:33:42 PM

I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

Without Bitcoin, other shitcoins will mean nothing. Bitcoin dominance is smaller than it actually is because so many abundant altcoins have been created too easily and contributed a lot to cryptocurrency market cap that reduces Bitcoin dominance.

Like a new shit coin created and pumps x100, with high total supply but in fact its value is zero and after a while, its price will be corrected to actually reflect its value. Altcoins die with time but Bitcoin becomes stronger with time. In other words, Bitcoin dominance is bigger with time in this perspective.

OgNasty

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I’ve never really paid any attention to Bitcoin’s dominance in relation to the price cycle so I’m not sure if this is relevant or not with regards to foretelling price movements. It does feel a little bit like people are waking up to shitcoins and becoming Bitcoiners more this cycle than the previous thought. At least from my perspective.

mv1986

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There is going to be one of those standard clean outs for alt coins anyway as the bull run is the time when people take one more serious look at what they are holding and then ask themselves whether they rather be in Bitcoin and not in this weird shit coin. That's when a serious sell off happens and most of those shit coins do never recover from that because the so called developers behind those shit coins also pull the rug and drain the liquidity, which is why they won't recover ever. But that doesn't mean we are free from shit coins then. It is the time when people made money with the Bitcoin bull run and then choose to deploy some of it to get the next shit coin going. Angry

Twentyonepaylots

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Quote from: GbitG on September 19, 2023, 12:40:25 PM

History is repeating itself because in the last month of August, BTC dominance crossed 50%, and at that time, the market was also going up, people were saying that this was the start of the bull run, but after that, the market was dumped by the manipulators and the whales. This shows that this might be another bubble to bring more investment into the market. And we also know that when the price of the market increases, many newbies who have listened a lot about halving and bull runs must think that the bull run might have started and they got into FOMO by thinking that they will not get another chance to take entry in the market.

Yeah, it was just all make believe by these whales. I am sure this is not just the first time it crossed over 50%, and this means nothing anymore. Before we are celebrating bitcoin dominance but because there are a lot of coins now in the market, all the money became diverse, and nothing's really surprising about it, not even a cents. Try not to look at it and you will be surprised how it moves parallel to the market situation. Bull or bullish it doesn't matter, it is and it will be always the hype, news, and just whatever and whenever they want to buy BTC.

Quote from: GbitG on September 19, 2023, 12:40:25 PM

And they must have made a mistake by taking lump sum entries, which is a big mistake. Because dominance is not an indicator to take entries in the market instead it increases when there is more money in BTC and less in fiat. Alts have some relation to the dominance of the BTC as @Faisal2202 shared a useful pic.

I agree, don't make it as an indicator, again it means nothing anymore. I suggest to look out for more altcoins if you want to buy, but pay respect to BTC and get more than 30% of your portfolio of it. Grin

ZAINmalik75

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Quote from: jrrsparkles on September 19, 2023, 08:56:09 AM

AFAIK, bitcoin price is not always proportional to the bitcoin dominance level, in the previous bull run its ATH hit around when BTC dominance was around the early 40s so most likely if the dominance increases there are chances for correction in the market so prepare for that before thinking about next ATH value.

Another reason why dominance increase while shitcoin decreases means people are dumping their shitcoins to buy bitcoin which means new money didn't enter into the market still people interested in converting their portfolio filled with bitcoin as much as possible.

Yes, you are right, because many people start to make investments in BTC when they see it coming up. And that's increasing the dominance of the BTC. And whales and manipulators took advantage of it. We can say for sure that dominance cannot be used as an indicator to time the market; instead, it can still be used to analyze the potential of the market, specifically, those who are alt-coin traders. They have to keep a straight eye on BTC dominance. because increasing dominance has a bad impact on the ALTs.

When more money comes into the BTC, its dominance increases. And that's not a good sign in the short term. And we have learned it from the historical events. But still, it makes a good impact on the overall BTC market. BTC's market cap has broken many records of many other financial companies by having a big market cap.

People who have already taken entries in the altcoin and are bearing the loss might not sell their altcoins to take entries in the BTC. Because those who are smart enough knew that the market was up for a temporary period. And they knew they just had to bear the market for a short period of time.

Patrol69

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People are now not dependent on ALT Coin but people are now dependent on Bitcoin. People prefer to invest in bitcoins more than anything else. There are ample reasons to choose investing in Bitcoin. Investing in Bitcoin is not as risky as all other coins in the market and Bitcoin investment is much more reliable than investing in ALT coins. In this period of the market people are willing to eat comparatively less profit but they cannot take the risk of losing their money that is why people now live Bitcoin as the first choice to invest. I am not saying to invest only in Bitcoin but we should have main investment in Bitcoin and as side investment we should choose ALT coin.

GbitG

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History is repeating itself because in the last month of August, BTC dominance crossed 50%, and at that time, the market was also going up, people were saying that this was the start of the bull run, but after that, the market was dumped by the manipulators and the whales. This shows that this might be another bubble to bring more investment into the market. And we also know that when the price of the market increases, many newbies who have listened a lot about halving and bull runs must think that the bull run might have started and they got into FOMO by thinking that they will not get another chance to take entry in the market.

And they must have made a mistake by taking lump sum entries, which is a big mistake. Because dominance is not an indicator to take entries in the market instead it increases when there is more money in BTC and less in fiat. Alts have some relation to the dominance of the BTC as @Faisal2202 shared a useful pic.

Poker Player

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Bitcoin dominance has ceased to matter, at least for me, from the moment dominance has to be split between 30,000 shitcoins and the Bitcoin. If there was only one that came close, I would be more concerned, but if it was Eth, I wouldn't even worry about it because it serves as the basis for many other shitcoins.

In the next bull run some will hit the lottery with the shitcoin of the day, while most will lose a lot of money and those of us who invest in Bitcoin will have decent and safer returns, although not as spectacular as some shitcoins. But we will have a pristine premium asset, if not the best.

Faisal2202

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Quote from: 348Judah on September 19, 2023, 10:11:35 AM

You're right mate, bitcoin bullrun hasn't started yet, we are only having experience with it way of preparedness towards the next year galving which will follow by bullrun, howeve, there's a need to always understand that this volatile cryptocurrency will never seize being volatile and this alone is a dominance itself, the market demands and supplies always are the deterministic mode to know how this could dominate the market to go bearish or bullish knowing that the two remain constant.

Maybe before the end of the year, we should expect more of the market pump than dump, this may get to about $50,000 before we attain the ATH of $68,000 then to followed by the next bullrun after 2024 halving.

Thanks for your valuable insights, and I can not agree more with your facts. As I also think that the market might reach $50k this year because it is possible for the BTC and there is much good news circulating in the market too. But most of the time, it all depends on the interest rates announced by the FEds, and the current MT GOX case, other than this there are many other factors involved that could dump the market, and then that would be a great point for Buyers to take entry.

Specially for the whales, and for the institutions, who wish to apply or already apply for ETFs.

I'm eagerly waiting for the next bull run and I think BTC will reach $110,00 easily. And I don't really think that BTC will reach the previous ATH this year. But fingers are crossed and let's see what comes next.

348Judah

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Quote from: Faisal2202 on September 19, 2023, 09:44:46 AM

Thanks for sharing such a good piece of information as I forgot to check the dominance ( I actually check it often). You have made a good analysis here. But you mentioned here that the current up trend is a bull run but it is not. As the bull run has not started yet. The bull run starts after every halving and then after a bull run, there comes a bearish cycle. The current increment in the price of BTC does not indicate any bull run instead it's just a small up trend which is for their for small moment I think. As MT GOX distribution is going to happen.

Other than this, I think market manipulation will occur again but that's just an assumption.

Talking about alts, we all know that when the BTC dominance increases then all alts bleed, I have saw a good relationship picture that shows the relation of BTC dominance with the ALTs.

source

You're right mate, bitcoin bullrun hasn't started yet, we are only having experience with it way of preparedness towards the next year galving which will follow by bullrun, howeve, there's a need to always understand that this volatile cryptocurrency will never seize being volatile and this alone is a dominance itself, the market demands and supplies always are the deterministic mode to know how this could dominate the market to go bearish or bullish knowing that the two remain constant.

Maybe before the end of the year, we should expect more of the market pump than dump, this may get to about $50,000 before we attain the ATH of $68,000 then to followed by the next bullrun after 2024 halving.

Gladitorcomeback

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Bitcoin dominance will definitely increase as lot of bad news spread in the market and investors are looking for save coin which is only btc. for last some months Big coins like Eth and Bnb dominance is decreasing which is very bad sign for altcoins. Last quarter of the year often proved bad for crypto market and investors will not take risk and we could see more blood bear in altcoins. no new money flows into the market while btc dominance increasing which is clear sign that money are shifting from other coins to btc.

Bitcoin ETF and halving are going closer which may be one of the reasons whales are shifting in time because price of btc is already down and these two events could bring btc back to 40k. altcoins will be then very late because
first some new money needed to be enter into btc which will increase btc dominance.
second Bitcoin have to pump and break major resistance. Altcoins will be dump at this stage
third btc dominance decrease and price remain stable then altcoins season will start

Faisal2202

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Thanks for sharing such a good piece of information as I forgot to check the dominance ( I actually check it often). You have made a good analysis here. But you mentioned here that the current up trend is a bull run but it is not. As the bull run has not started yet. The bull run starts after every halving and then after a bull run, there comes a bearish cycle. The current increment in the price of BTC does not indicate any bull run instead it's just a small up trend which is for their for small moment I think. As MT GOX distribution is going to happen.

Other than this, I think market manipulation will occur again but that's just an assumption.

Talking about alts, we all know that when the BTC dominance increases then all alts bleed, I have saw a good relationship picture that shows the relation of BTC dominance with the ALTs.

source

Eternad

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With this level of dominance while the price is still below 30K, It only shows that the liquidity on crypto is thinner since more money being poured to Bitcoin from Altcoins while the price is not moving significantly.

This is really a bad sign for altcoin when Bitcoin suffer another downtrend since the dominance will surely continuos to rise since altcoins is not yet recovered. Bitcoin dominance show how money from Altcoins is diverted to Bitcoin. The pump is not a result of fresh money or else dominance should be decreasing since new money tend to diversify on different crypto assets.

Hamza2424

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Brother, I do consider Bitcoin dominance and your analysis as on some level own weightage, but not about the dominance for all as per the latest market developments and other trading sentiments most dominatingly recent Death-Cross. Dominance plays a significant role in analyzing the market on a higher timeframe but at the same time, the current market sentiments are bearish, as far as it is related to the 27k breakout.

There is no fundamental or technical base for that AFAIK is just to liquidate all the open positions of the traders that they've made for the coming few days, as most of the global economies are going to release their Monetary policy reports, this week will decide the month's total performance. Be careful with the trades, form the manipulation and market volatility, a friendly pre-reminder.

promise444c5

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Quote from: jrrsparkles on September 19, 2023, 08:56:09 AM

AFAIK, bitcoin price is not always proportional to the bitcoin dominance level, in the previous bull run its ATH hit around when BTC dominance was around the early 40s so most likely if the dominance increases there are chances for correction in the market so prepare for that before thinking about next ATH value.

Absolutely bitcoin dominace doesn't guarantee an increase in the market value neither does the post show a correspondence between them. The view is just to show the acceptability level as the time of halving is getting near about 200 days I guess, what its suggesting is that some altcoins will get out of the race as it's also explained in the quote.

jrrsparkles

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Quote from: promise444c5 on September 19, 2023, 05:25:52 AM

Dominance
Let's talk about Bitcoin dominace, it hight time people should divert attention from altcoins not completely though

there will always be a need to but let's focus more on Bitcoin is now as it dominance hitting
49%to 51%

AFAIK, bitcoin price is not always proportional to the bitcoin dominance level, in the previous bull run its ATH hit around when BTC dominance was around the early 40s so most likely if the dominance increases there are chances for correction in the market so prepare for that before thinking about next ATH value.

Another reason why dominance increase while shitcoin decreases means people are dumping their shitcoins to buy bitcoin which means new money didn't enter into the market still people interested in converting their portfolio filled with bitcoin as much as possible.

gunhell16

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On September 19, 2023, the price of bitcoin, according to the present market, will be around 48.9945%. Therefore, Bitcoin currently accounts for more than 50% of the entire cryptocurrency market valuation. As a result, according to my hypotheses, this growth is a significant improvement over the November 2022 month, which is only 37.28% lower.

In conclusion, Bitcoin continues to be the most well-known and recognizable cryptographic asset worldwide. And for investors worldwide, the most secure and trustworthy investment. While others continue to follow the movement of Bitcoin due to its volatility, we should still exercise caution while dealing with other altcoins. Because of this, its risk volatility is greater than Bitcoin's. Thus, greater vigilance is required.

[A] https://ng.investing.com/news/stock-market-news/bitcoins-market-dominance-on-the-rise-amid-a-volatile-crypto-landscape-93CH-1075881

Odohu

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Quote from: promise444c5 on September 19, 2023, 05:25:52 AM

Dominance
Let's talk about Bitcoin dominace, it hight time people should divert attention from altcoins not completely though

there will always be a need to but let's focus more on Bitcoin is now as it dominance hitting
49%to 51%

This data shows that a lot of people are coming to terms with the reality that Bitcoin is the future... it has always been Bitcoin against the rest of them. Gradually, the hype around altcoins is fading away and "water is finding it's level".

I was actually surprised to see Bitcoin dominance rise so significantly yesterday and it simply confirm that the next bull market might come without a corresponding altcoin season like we do have in the past.

Yamane_Keto

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Bitcoin dominance is not an indicator on which technical analysis is calculated because it measures something limited versus something unlimited and changes easily. Market prices for alternative currencies are easy to manipulate and cannot be considered an indicator of growth compared to the difficulty or impossibility of manipulating them in Bitcoin due to the limited and variable supply with a fixed curve.

The dominance measure measures Bitcoin with its mass of all altcoins, including which it may not necessarily mean an increase in the price of altcoin (because they contain stablecoins), but the least relationship we can describe is

dominance UP bitcoin UP ALTCOINS DOWN
dominance UP bitcoin DOWN ALTCOINS DUMP
dominance DOWN bitcoin UP ALTCOINS PUMP

At some point, we will reach the USDT market cap being higher than Bitcoin, but this will not change the price of Bitcoin or lead to its decline.

Topic: Bitcoin dominace - page 2. (Read 378 times)