Bitcoin dominance 70%? - page 2. | Bitcointalksearch.org

virasog

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Quote from: OcTradism on January 16, 2021, 11:54:23 PM

The dominnance of bitcoin is lower than it actually is and should be. With many new DeFi projects were born in 2020 and 2021, with huge total supplies and current circulating supplies, they contribute a huge total marketcap that pull the bitcoin dominance back.

Total marketcap from DeFi projects are higher than what they should be too as price of DeFi tokens are valued higher than their intrinsic value. Their price will be pulled back, corrected to very lower price. Even bitcoin won't rise more than $42,000, its dominance will also have chance to rise higher. If DeFi tokens all fall down a lot in next months.

Bitcoin dominance is now falling from the critical support and therefore we are seeing this massive pump in the alts. We have a mini bull run here where all the alts will pump until we see big movement in bitcoin either in upwards direction or downward direction.

OcTradism

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The dominnance of bitcoin is lower than it actually is and should be. With many new DeFi projects were born in 2020 and 2021, with huge total supplies and current circulating supplies, they contribute a huge total marketcap that pull the bitcoin dominance back.

Total marketcap from DeFi projects are higher than what they should be too as price of DeFi tokens are valued higher than their intrinsic value. Their price will be pulled back, corrected to very lower price. Even bitcoin won't rise more than $42,000, its dominance will also have chance to rise higher. If DeFi tokens all fall down a lot in next months.

Lorence.xD

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Quote from: Poker Player on January 16, 2021, 09:29:56 AM

I don't worry about dominance too much. Bitcoin market cap vs Ethereum one or some specific coins might be worth checking every now and then but Bitcoin vs the total rest of shitcurrencies is not that important in my opinion.

What you should worry is whether you get a profit from selling your coins at a certain price point. I still haven't done any trading so I do not mind that the dominance goes whichever percentage. I do agree with bitcoin against the other shitcoins not that important because I see those shitcoins as leeches that mooches off the benefit when bitcoin prices go high.

alt_expert

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ok guys,
thx for reply

hatshepsut93

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Ethereum's share of the market is 13% right now, it could drop to 10% like it was not long ago, but it's unlikely to go any deeper. That already puts Bitcoin's realistic short-term share at 90% max. Tether has 2.5% of the market - if it won't implode, it could only continue taking more and more of the market as more USDT is printed. Aside from these two coins, I don't see any other coin that fundamentally should be as high as it is now. The rest of the market should amount for 2-3% at most. So, Bitcoin could achieve 80% dominance if alts crashed really hard, but so far there's still a lot of people willing to gamble on alts, so it's probably not gonna happen, no matter how high Bitcoin gets.

Poker Player

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I don't worry about dominance too much. Bitcoin market cap vs Ethereum one or some specific coins might be worth checking every now and then but Bitcoin vs the total rest of shitcurrencies is not that important in my opinion.

mk4

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Realistically speaking, Bitcoin's dominance actually should be higher than 80%. Knowing that with A LOT of altcoins, most of the total supply(we're talking 50-80%+) are actually held by the development teams, which makes their total "market cap" really inaccurate and unfairly calculated.

Going with the CoinMarketCap Bitcoin dominance metric though, I think it's kinda unlikely for Bitcoin's "dominance" to go as high as 80%. The cryptocurrency markets as a whole is still a huge casino-ish market, and I really don't see that going away any time soon.

XZERO1

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Bitcoin dominance could go over 80% only if Bitcoin goes for over $50k or if Bitcoin crashes really hard as many traders would panic sell their shitcoins in the fear of them getting dumped hard.

That being said I don't think those are very likely scenarios and I personally think Bitcoin dominance will stay under 80%, ATH for Bitcoin dominance for these past couple months was around 75%:

alt_expert

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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

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