Topic: Bitcoin dominance dropping hard - page 2. (Read 615 times)
Bitcoin dominance decreases because there is an increase in altcoins, this does not mean Bitcoin is failing. By saying BTC is failing because its dominance is sub 40% is analogous to saying the US dollar is failing because its value is decreasing against the Chinese yuan. If the total amount of money in a system increases, the contribution of each party as a percentage will usually decrease.
maybe because of countries banning bitcoin? I heard that 8 or 9 countries banned bitcoin from domestic transaction and I also think many users are also being banned for because of some allegations.
Funny, it was down to 31% but going up to 36% again. I guess people are changing there sh*tcoins for bitcoins to exchange them for real money.
But don't forget to HODL
But don't forget to HODL
Bitcoin dominance is decreasing because of the appearance of new coins that users find more profitable.
There is more concurrence between different currencies and I believe it is a good thing since only coins offering better services will survive.
Globally, the market dominance don't have any signification, you can just ignore it.
There is more concurrence between different currencies and I believe it is a good thing since only coins offering better services will survive.
Globally, the market dominance don't have any signification, you can just ignore it.
Yes, the dominance is dropping hard but still the Bitcoin remains the most dominant among the cryptocurrencies there is. We cannot predict what will happen in the next few days or months. People have predicted last November early on that the Bitcoin will have a price of US$ 10,000 at the end of the year 2017, but it was more than that, it even reached the price of US$ 20,000 during the period of December 2017.
The drop is due to the problem of the high fee of bitcoin in December, and many people panic to either cash out or move to altcoins.
It is really urgent that bitcoin come up with a feasible, usable scaling approach in the next 3-6 months. Otherwise I can see things turn out ugly.
I am confident that the issues will be sorted out in a few months time and hopefully we will be seeing the lightening transaction implemented this year,bitcoin had a big rally this past year and never expect the same kind of growth every year,this year we might see a good rally in some of the major alt coins. It is really urgent that bitcoin come up with a feasible, usable scaling approach in the next 3-6 months. Otherwise I can see things turn out ugly.
great correction happen every 4 years, if you observe the market for the last 4 years of bitcoin, the same cycle happen. so if you are veteran in this bitcoin investment then there's no need to worry about, it is still the history repeat itself.
no matter what you think or what some random number on paper says, the reality is that bitcoin's dominance has been increasing ridiculously big and fast which is nearly unbelievable.
soon bitcoin will be as popular as cash in a couple of years. but at the same time altcoins will still remain the same useless side product of bitcoin which will also always be referred to as 'alternatives'!
while bitcoin has been accepted in shops and by millions of merchants around the world offline and online (despite the current 1 month high fees), other altcoins have still 0 use cases.
soon bitcoin will be as popular as cash in a couple of years. but at the same time altcoins will still remain the same useless side product of bitcoin which will also always be referred to as 'alternatives'!
while bitcoin has been accepted in shops and by millions of merchants around the world offline and online (despite the current 1 month high fees), other altcoins have still 0 use cases.
Cryptocurrencies are notorious for the great benefits they can afford than any other investment. That's why more and more people are coming in and more money flows not only in Bitcoin but also Altcoin, this is the reason why Bitcoin's dominance is down, but Bitcoin will still lead.
When bitcoin goes up, so bitcoin is like a vampire, altcoin will fall, but when altcoin starts to rise, there will be money out of it.
I think you'll find that this general topic has been discussed into the ground around here. And really, its for good reason. 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. I wouldn't worry too much about it now however, with bitcoin still maintaining itself as the cryptocurrency with the largest market cap - with that rising. If we see competition such as Ripple take over - that's when we'll know we'll be in trouble.
The market share is dropping with every passing hour. Right now it stands at 36.1%. Ripple is closing on the $100 billion market cap figure, and Ethereum is not far behind. Bitcoin Cash too would have joined the rally, but unfortunately the crackdown in South Korea resulted in the exchange rates dropping by almost 20% during the last few days.
The third week of December 2017, bitcoin value continues to experience significant fluctuations. Citing bitcoin.com, bitcon value on Monday, December 18, 2017 recorded US $ 18,989 per chip or approximately Rp 256.35 million (exchange rate Rp 13,500).
Then on Tuesday, December 19, 2017 recorded US $ 17,531 or Rp 236.66 million. On Wednesday, December 20, 2017, bitcoin value continued to decline to US $ 16,496 or Rp 222.69 million.
On Thursday, December 21, 2017 bitcoin value of US $ 15,785 per chip or Rp 213.09 million. Then on Friday December 22, 2017 recorded US $ 15,700 or Rp 211.95 million.
Then on Tuesday, December 19, 2017 recorded US $ 17,531 or Rp 236.66 million. On Wednesday, December 20, 2017, bitcoin value continued to decline to US $ 16,496 or Rp 222.69 million.
On Thursday, December 21, 2017 bitcoin value of US $ 15,785 per chip or Rp 213.09 million. Then on Friday December 22, 2017 recorded US $ 15,700 or Rp 211.95 million.
The crypto market fluctuates and nobody can predict what happens next especially with bitcoin. I still belief its the best among equals.
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.
There is really nothing to discuss here because the dominance based on the figure you quoted is just based on the price of the respective coins which vary as time passes. As the time you quoted the figure, the percentage is 38% where as if the price of bitcoin should take a jump to $15000 while the other alt coins suffers some amount of crash or drop in price, then it mean that the dominance of bitcoin is proclaimed just by changing of figures over a short period of time.
Bitcoin's dominance may fall how much he wants.It doesnt matter.
Maybe we will even see Ripple n1 in coinmarket for some time.
That just means that altcoins and awesome projects under them do find more and more followers.
Maybe we will even see Ripple n1 in coinmarket for some time.
That just means that altcoins and awesome projects under them do find more and more followers.
This indicates that the entire encrypted currency community is progressing. In the early days, bitcoin digital currency accounted for the entire share of 90% more altcoin into the market, means that the market is full of vitality, we can also refer to the number of investors in the new year, these data are not that bitcoin dominance decreased, this is just a normal data market expansion the.
I see the tendency of Bitcoin dominance to fall in January, but it will not be long, because the cryptocurrency market is always unstable, according to analys expert Bitcoin will be reach $40.000, so no need to worry about the fall of Bitcoin today
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.
We do not think to much about the price of bitcoins that will fall , It only means that we need to invest on the down time in the market because the prices are low and because of that we will earn more profit when the price will rise again.
I wonder why this topic is not discussed more. The bitcoin dominance compared to other coins.
are you kidding me?every time an altcoin that has more than 100 million coins in supply is getting pumped, someone starts this pointless discussion!
Quote
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!
the thing you are talking about is not bitcoin market cap it is share of the total market cap.But then it dropped to 38% today!
bitcoin market cap has been increasing day by day.
the thing is, it is very easy to create Market Cap out of the blue with the altcoins. when coins like Ripple suddenly add 10 billion coins to their circulation that will simply add 10-20 billion dollar to total market cap.
and when that happens no matter how big bitcoin market cap is, the percentage out of total will grow smaller.
Jump to: