Topic: Bitcoin dominance dropping hard (Read 573 times)
I think this is a very interesting issue indeed. And it is full of mysteries. I'm asking myself too how this drop of dominance has to be intrepreted, but cannot find a truly convincing answer. Yet.
You see is the possession of the total market share has declined,
But now you don't see the total market share of matter how many times in the past, now is the total market value of the past many times, explain the development of this area is very good, the rest of the coin is also more and more, and bitcoins is still dominant
But now you don't see the total market share of matter how many times in the past, now is the total market value of the past many times, explain the development of this area is very good, the rest of the coin is also more and more, and bitcoins is still dominant
I still remember when it used to be above the 90% mark (in 2015/16). Right now, it is struggling to stay above the critical one-third mark (33.33%). But IMO, Bitcoin must blame itself. The ultra-high transaction fee has resulted in users abandoning the coin and turning to other alternatives such as Bitcoin Cash and Ethereum. Merchants who used to accept BTC earlier are no longer doing that, as a result of the high fees (examples are Stripe and Steam).
i think it will still be dominance this year since there nothing like a localbitcoin for other coins at the moment anyway where people can convert to fiast to crypto easy .Bitcoin is still the go between
I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.
For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.
For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.
The dominance of bitcoin in the digital money market in the cryptocurrency market has now dropped to its lowest level ever, rooted in the fact that other digital currencies in the market that are competing with bitcoin have become more powerful and investors Interest in other digital currencies is growing.
I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.
For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.
For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.
The dominance of bitcoin in the digital money market in the cryptocurrency market has now dropped to its lowest level ever, rooted in the fact that other digital currencies in the market that are competing with bitcoin have become more powerful and investors Interest in other digital currencies is growing.
Yeah expect more dropping because Altcoins are growing as well. It is not only bitcoin alone but other players are now competing with it in the crypospace. This is very good for the community as it shows that the industry is growing.
Altcoins also lost value during the BTC's correction. You could see how the whole cryptocurrency market is connected. When our balloon started to deflate every single coin was going down and the ones that had no real life usage and support were losing the most. XRP went crashing down like crazy, same as all the BTC forks.
Bitcoin is losing dominance when it comes to market cap but it's still far ahead when it comes to the price, recognition, usage, regulations and many other things.
Let me translate this for you this op bought a lot of litecoin and he is sad he did not buy bitcoin so he is spreading fud
I think since bitcoin consider to be the benchmarking with regards to other alts value the sudden drop in bitcoin price affects all other alts like what is happening this day the market value of bitcoin drops by more than 50% and even some alts become valuable in the past weeks the sudden crashed in bitcoin price makes all other alts to drop also. Bitcoin really has a dominance in crypto currenct markets that's why I am hoping bitcoin value will recover soon so that all other alts will also recover
I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.
For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.
One thing only comes into my mind why is that happening and that is because people sees the potential of alts when it comes to profitability with the mixture of people's nature which is being risk taker, even myself i would put my investments in alts rather than bitcoin, bitcoin has become the withdrawing element of profits we made and no other reason. For years bitcoin marketcap was around 90%. Then it dropped to 40% in jun 2017 and peaked in dec 2017 at 60%.
But then it dropped to 38% today!
So this means that the value is moved into other coins. It's a big run. The total market cap stays quite the same.
But when bitcoin will crash hard, don't people understand that when the flagship goes down, the other boats become worthless? I believe this is way more important than the current loss in price at the moment.
Yeah expect more dropping because Altcoins are growing as well. It is not only bitcoin alone but other players are now competing with it in the crypospace. This is very good for the community as it shows that the industry is growing.
Yes that's true . It has been falling sharply in the past two days but I think thanks to the bitcoin discount that is creating opportunities for many. Its value is decreasing but it is still the most valuable virtual currency today. I think it will come back sooner and higher than before
Looks like the total market cap of all cryptos is increasing, even though bitcoin dominance is sub 40% it is likely that the advent of new cryptos is diluting the distribution of cash. If bitcoin can maintain a 35% share despite there being over 300 cryptos now, I would say that it's definitely in a massive advantage.
I would have been worried, if the move was towards Alt coins, but they are dropping like a bunch of flies too. Something is
happening or are going to happen... but I cannot put my finger on it yet. Most movement are happening on Asian markets,
so I presume it is linked to the clamp down in South Korea.
.....Frogs in a pot?
happening or are going to happen... but I cannot put my finger on it yet. Most movement are happening on Asian markets,
so I presume it is linked to the clamp down in South Korea.
.....Frogs in a pot?
They have bitcoin cash to solve all these problems. I believe bitcoin will be used for large transactions that involve lots of security. for ex. buying a home, car, land, plane, building etc. and bitcoin cash can be used for smaller online purchases and things like that. I do think there needs to be a crypto currency for every day grocery shopping and things like that if we really expect to see the world solely use crypto. just my theory but what do i know
Altcoin prices are still dependent on BTC price. When BTC is on the bull run all alts following, if BTC goes down everything else will go down in the same fashion. So that loss of dominance isn't happened yet. At some point it undoubtedly will happen but not now.
Hi,
I may be wrong but I think that even if bitcoin becomes worthless, it won't cause the death of other cryptos.
Of course, it depends quite heavily on the reason of the "death".
But still, there are other cryptos that are quite powerful and have large communities. And I guess that they won't disappear all of a sudden.
Truth is, the bitcoin is the crypto that has made history. It is the one most people (and mass media) know about. It is the one bringing about many concept about the economy and currency alternatives. Still, even if I believe in it, I must say it is not everything.
I may be wrong but I think that even if bitcoin becomes worthless, it won't cause the death of other cryptos.
Of course, it depends quite heavily on the reason of the "death".
But still, there are other cryptos that are quite powerful and have large communities. And I guess that they won't disappear all of a sudden.
Truth is, the bitcoin is the crypto that has made history. It is the one most people (and mass media) know about. It is the one bringing about many concept about the economy and currency alternatives. Still, even if I believe in it, I must say it is not everything.
If they have powerful and large communities why are all the alts dropping even worse than BTC ?
Care to explain this mistery?
Bitcoin is definitely becoming a lesser-dominant cryptocurrency, especially when so many are being developed and started as we speak. You've got high and slow transaction fees, high competition to Bitcoin and a growing investor interest in these altcoins.
Same as the above.
If those new developed alts are so good, why are they falling down like drunk ducks?
Hi,
I may be wrong but I think that even if bitcoin becomes worthless, it won't cause the death of other cryptos.
Of course, it depends quite heavily on the reason of the "death".
But still, there are other cryptos that are quite powerful and have large communities. And I guess that they won't disappear all of a sudden.
Truth is, the bitcoin is the crypto that has made history. It is the one most people (and mass media) know about. It is the one bringing about many concept about the economy and currency alternatives. Still, even if I believe in it, I must say it is not everything.
I may be wrong but I think that even if bitcoin becomes worthless, it won't cause the death of other cryptos.
Of course, it depends quite heavily on the reason of the "death".
But still, there are other cryptos that are quite powerful and have large communities. And I guess that they won't disappear all of a sudden.
Truth is, the bitcoin is the crypto that has made history. It is the one most people (and mass media) know about. It is the one bringing about many concept about the economy and currency alternatives. Still, even if I believe in it, I must say it is not everything.
This is hardly discussed in here, if you do not find those threads, then it is your fault.
You are not seeing the reality in there, the dominace is dropping, but the whole marketcap is always going up.
When the dominance was over 90% a few years ago, tell me, how much was the marketcap? I bet everything that it was not even five billion dollars.
And now it is 38% but the total marketcap is 600 billion dollars, more than a half of a trillion.
Yes. It feels me not really good because my money is also dropping according to it. So i wish that it will rise up again so that i will never lose more of my money and still have it to buy the things and other stuffs that i want to buy. I wish that the price will come back to its high price or even exceed to that. I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.For years bitcoin marketcap was around 90% it dropped to 40% in jun 2017 and 60%.But then it dropped to 38% today!
You are not seeing the reality in there, the dominace is dropping, but the whole marketcap is always going up.
When the dominance was over 90% a few years ago, tell me, how much was the marketcap? I bet everything that it was not even five billion dollars.
And now it is 38% but the total marketcap is 600 billion dollars, more than a half of a trillion.
Bitcoin was the first into the market, and it didn't protect the name. As a result of this, many people don't seem to know which coin is the real Bitcoin, and dump everything with Bitcoin in it's name into the same bin. There isn't even agreement about the shortform for Bitcoin. The ticker code is XBT, and this is used by sites like XE. However most of the boards seem to use BTC, and many people seem to think of that as Bitcoin Cash if they have heard of it.
Looking at percentages to assess dominance is a bit misleading. As the herd increases, then the percentage of whatever metric you are using is likely to decrease, even when the real values may be increasing.
Money flowing into alt coins may be new money for the crypto world. It isn't certain that it is a flight from Bitcoin.
Looking at percentages to assess dominance is a bit misleading. As the herd increases, then the percentage of whatever metric you are using is likely to decrease, even when the real values may be increasing.
Money flowing into alt coins may be new money for the crypto world. It isn't certain that it is a flight from Bitcoin.
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