Bitcoin dominance 70%? | Bitcointalksearch.org

Malam90

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Quote from: alt_expert on January 16, 2021, 08:42:20 AM

hey guys
Bitcoin dominance is really high
will go up to 80%?
right?
let me know what you think and if any of this makes sense XD

I won't think it will touch to 80% dominance of Bitcoin. In the last couple of days, top few popular coins' pump decreased this dominance to 66%. We won't like to decrease altcoins anymore because it will damage altcoins development and investors will lose their confidence in investment.

fladnaG

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Yes. And it is unlikely that anything will change in the next few years.

Peanutswar

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Today the Bitcoin is still dominating the market but as you can see right now or these past few days the market price of the bitcoin drops and some few of the altcoins are rapidly increasing so expect this time if the bitcoin will trying to achieve the 40-50k price sure they will follow but except too that this is the last chance of the bitcoin comes up and this is the time for the alt season having awareness about the possible outcome might help you out.

IMO bitcoin is now falling slowly.

irixo10

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The higher Bitcoin dominance goes, the higher altcoins suffers, or better put the more Bitcoin dominance grows, the more top altcoins finds it hard to grow pass their ATH and the more other altcoins suffers greatly, this is because the high dominance means high attention is still on Bitcoin that is to say, a good amount of funds coming into the crypto space is going into Bitcoin. Also, I think just like the price of Bitcoin can't be predicted atimes, in the same way, the dominance of Bitcoin can't be predicted, hence no one knows if it will drop or goes further but I realized that when Ethereum was growing very fast, the dominance was dropping a little. Lastly, if Bitcoin dominance goes above 80% that means the altcoin market will feel the impact, where most top altcoins might not feel the heat much, other small altcoins will be hit hard.

masterrex

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Quote from: alt_expert on January 16, 2021, 08:42:20 AM

hey guys
Bitcoin dominance is really high
will go up to 80%?
right?
let me know what you think and if any of this makes sense XD

Well, thats should be the case, but due to many listed Altcoins now in the market, Bitcoin dominance should be settled around 80-85 percent, so I guess the Bitcoin price is the triggering factor of MarketCap dominance and if the BTC price continues to increase will that would be another milestone to achieve.

scottsanderman12

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Quote from: alt_expert on January 16, 2021, 08:42:20 AM

hey guys
Bitcoin dominance is really high
will go up to 80%?
right?
let me know what you think and if any of this makes sense XD

Nobody can't predict dominance, price and other things around crypto or fiat money.
Every day world change, different events happens.

kentrolla

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BTCs dominance was going up after the drop it looks like it is waiting for next level of 80% based on the supply level it will be calculated, the key factor for BTC dominance is due to it's rapid rate of adoption. As ETH was expected to be a strong competitor this time it failed to beat BTC.

However the demand and supply is there so it think it's just a matter of time to go for next level, if the price goes up spontenously then surely it dominance will go up.

davis196

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Bitcoin having a 70%-80% dominance is pretty normal,if you ask me.
After all,Bitcoin is the only cryptocurrency that has enough trust and legitimacy.
I think that 2015-2017 was the "golden era" of altcoins,with all the ICOs and pump&dump shitcoins.
Now,most of the investors realized that there won't be an altcoin,that will dethrone Bitcoin as the king of crypto,so the investors aren't paying much attention to new altcoin projects.
Ethereum and the other Top 10 altcoins will never reach Bitcoin in terms of adoption and trading volume.

pooya87

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Quote from: malevolent on January 17, 2021, 05:58:50 PM

Coinmarketcap does a pretty good job at separating circulating supply from total supple to arrive at the true/real/effective market capitalization.

They only do it for obvious cases for very small and unpopular projects and mainly rely on what the project developers publicly report not what the real circulating supply is. For example ETH reports to have 114 million "circulating" supply while in reality the actual value is so much lower than that due to the massive amount of premined coins that are locked away in the pockets of the ETH overlords that is to be used during the 2.0 crap to make them a ton of free money out of thin air when they stake it. Same with XRP and a lot of other "top" altcoins.

So if you ask me, they are doing a pretty poor job at ranking the coins with a broken ranking system that has been abused very easily.

NeverSop

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Quote from: alt_expert on January 16, 2021, 08:42:20 AM

hey guys
Bitcoin dominance is really high
will go up to 80%?
let me know what you think and if any of this makes sense XD

Since I entered the cryptocurrency world until now. I found that bitcoin's capitalization has always accounted for more than 70% of the total cryptocurrency market cap. That said, bitcoin is special to this school. Low supply, coupled with the catastrophic collapse from covid-19, I think bitcoin will continue to rise and create miracles this year.

cyriljundos

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Quote from: alt_expert on January 16, 2021, 08:42:20 AM

hey guys
Bitcoin dominance is really high
will go up to 80%?
right?
let me know what you think and if any of this makes sense XD

as of last months bitcoin dominance has risen up to 70% and still way to go to reach the possible 80-90% dominance. If bitcoin price will not go down this month probably bitcoins will reach higher than $40000/Btc and it would be good for investor that they may gain more profit after investing in bitcoin.

malevolent

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Quote from: pooya87 on January 17, 2021, 12:53:42 AM

The number you are looking is not bitcoin's "dominance", it is simply a ratio of bitcoin's market capitalization and the total market capitalization of thousands of shitcoins.
Since market cap is calculated simply by multiply supply by price and shitcoins can easily create any supply value they want and they have done that, the total supply (hence the total market cap, ie the denominator) is gigantic hence the ratio is close to 70%.

As new shitcoins are created (like the ICO mania of 2017) or the existing shitcoins have or create large amounts of supply (like the 72 million premine of ETH, or the out of thin air issuance of XRP) the denominator grows and the ratio goes down. But as these shitcoins inevitably get dumped their price*supply aka market cap goes down and the ratio goes back up again.

Coinmarketcap does a pretty good job at separating circulating supply from total supple to arrive at the true/real/effective market capitalization.

https://support.coinmarketcap.com/hc/en-us/articles/360043396252-Supply-Circulating-Total-Max-#circulating_supply

seramania

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it is natural to see the potential of bitcoin now is very extraordinary and the price of bitcoin is high. although bitcoin dominance will definitely experience a correction against altcoins, bitcoin is still too strong in that position, so my advice is to stay positive and buy bitcoin

Swordsoffreedom

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If you look closely and are able to understand reality, you will see that only one coin is dominating the entire crypto market. That is Bitcoin, 80%, 70% whatever you can say, but Bitcoin is controlling the entire crypto market. Every ~~shitcoin~~ other coins just following the pattern of Bitcoin like his Dog. Every single movement of BTC is copied by ~~shitcoin~~ ETH, BCH, NEO ....

Wysi

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Bitcoin's dominance will change as per the market situation and yesterday it was around 68.6% approximately, if Bitcoin pumps further then more users will shift their altcoin holdings into bitcoin thus increasing the market dominance and vice versa, but we also need to understand that crypto is more than just bitcoin and it's not a good sign for some trustable altcoins if they don't even reach half way in terms of market dominance. This proves that Bitcoin cannot be dethroned as king of crypto.

anonyart

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Quote from: Leviathan.007 on January 17, 2021, 01:53:50 PM

Actually in my own idea the dominance could and should be much higher than 70 percent. However, since we are heading to the alt season, we were expecting falling of the bitcoin dominance. on the ta side of the story, the dominance is fallen down to the key support area. I believe that's the relation between bitcoin dominance and the alt/shit coins.

This is true, the dominance should be 90% bitcoin, a lot of shitcoin in the marketcap. too much

Leviathan.007

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Actually in my own idea the dominance could and should be much higher than 70 percent. However, since we are heading to the alt season, we were expecting falling of the bitcoin dominance. on the ta side of the story, the dominance is fallen down to the key support area. I believe that's the relation between bitcoin dominance and the alt/shit coins.

20kevin20

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Once the alt season begins, expect it to drop. It almost always happens this way and the more (and the larger) altcoins we have, the more volatvile BTC's dominance will be. But remember this is just a relative number because CMC chooses to only show the coins they want .. and they're mostly shitcoins anyway..

pooya87

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Quote from: alt_expert on January 16, 2021, 08:42:20 AM

Bitcoin dominance is really high
will go up to 80%?

The number you are looking is not bitcoin's "dominance", it is simply a ratio of bitcoin's market capitalization and the total market capitalization of thousands of shitcoins.
Since market cap is calculated simply by multiply supply by price and shitcoins can easily create any supply value they want and they have done that, the total supply (hence the total market cap, ie the denominator) is gigantic hence the ratio is close to 70%.

As new shitcoins are created (like the ICO mania of 2017) or the existing shitcoins have or create large amounts of supply (like the 72 million premine of ETH, or the out of thin air issuance of XRP) the denominator grows and the ratio goes down. But as these shitcoins inevitably get dumped their price*supply aka market cap goes down and the ratio goes back up again.

boyptc

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It can go as high as 80% in the future. We don't know when but if that time comes then we will have lesser altcoins by that time.

With what I mean lesser, most investors are no longer investing to any altcoin in the marker but remains at the top alts.

IIRC, the highest was 71.8%, cmiiw. So hitting 80% dominance is very possible.

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