Bitcoin dominance falling, time to bag in some alts? altcoin party?

BD Crypto

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Quote from: kesmex on July 28, 2020, 11:33:43 AM

Bitcoin dominance rose again to 63%, and seen the impact of altcoin prices fell very sharply, but the price of Bitcoin rose,
it is unfortunate altcoin experienced a negative impact, how about the next week? is this the right time to buy altcoin?

Actually BTC dominance just bounced back from it's strong support zone.So now we should not many any entry because market is 73% greedy and a Fomo going on.

So wait a little bit for best result and buy a bag of altcoins when BTC gets stable.

rz20

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Dominance is starting to rise again and if the BTC keeps rising this way I think we will soon see BTC dominance crossing 65% again lol. My portfolio took a big hit because of BTC's recent move to 11k. Alts need some time to recover now.

dre1982

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Quote from: kesmex on July 28, 2020, 11:33:43 AM

Bitcoin dominance rose again to 63%, and seen the impact of altcoin prices fell very sharply, but the price of Bitcoin rose,
it is unfortunate altcoin experienced a negative impact, how about the next week? is this the right time to buy altcoin?

Just as expected. When bitcoin prize goes up everyone transfer the altcoins back to bitcoin and then the bitcoin dominance will rise again. Everytime the same story. Cool

Stedsm

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Quote from: kesmex on July 28, 2020, 11:33:43 AM

Bitcoin dominance rose again to 63%, and seen the impact of altcoin prices fell very sharply, but the price of Bitcoin rose,
it is unfortunate altcoin experienced a negative impact, how about the next week? is this the right time to buy altcoin?

Don't just fall for BTC yet because many DeFi tokens are not yet listed on CMC. Next, the tokens are not limited to what the number used to be before, so it's for sure that the BTC dominance can drastically fall. But yeah, I've learnt that now, this dominance literally won't mean anything as the marketcap of the whole altcoins' group against BTC will definitely grow with the fact that many tokens have opted and will opt for smart contract providers like Eth, Eos, Waves and whatnot.

Saisher

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Quote from: Stedsm on July 21, 2020, 03:29:17 PM

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

There's a lot of altcoins with good potential if Bitcoin dominance goes down it will not go down big time, it will remain its dominance but there will always a room for other altcoins to share a slice in the market, there's a possibility that Bitcoin dominance will go down once these top altcoins move to improve their platform to the needs of the community.

kesmex

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Bitcoin dominance rose again to 63%, and seen the impact of altcoin prices fell very sharply, but the price of Bitcoin rose,
it is unfortunate altcoin experienced a negative impact, how about the next week? is this the right time to buy altcoin?

fullhdpixel

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Quote from: Zeehaxan on July 21, 2020, 04:04:44 PM

Quote from: Stedsm on July 21, 2020, 03:29:17 PM

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

We are already seeing selective alts doing really well. Regarding btc dominance to go down i do not agree with this opinion i think it can go a bit more down but it will stabilize and then again start to increase with next bull season amd most of the community is super bullish for btc as a part of historic pattern.

Whether it’s a hard dump or a bull run, bitcoin gains dominance in the market. The only time altcoins start to gain dominance is when bitcoin is at a stable rate of it rising with a steady pace. As bitcoin is increasing at a steady pace at the moment, altcoins like ETH, XRP and XTZ are showing considerable growth. Let's see how long this session of the altcoin trying to gain dominance against the bitcoin lasts

In some sense, bitcoin dominance is not a significant thing to be interpreted for making any financial decision in crypto space. It can be used only for comparison reasons and are nothing more hence we do not need to give any important for this data/analysis.

coinfinger

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Quote from: Stedsm on July 21, 2020, 03:29:17 PM

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

Altcoins are much more volatile than bitcoin and are somehow connected to it. The prices of altcoins are on the rise because bitcoin was holding steady and is now showing slow growth. But what happens when the bitcoin price begins to dump? Altcoins will fall as well and with a pace much greater than bitcoins. At that moment, bitcoin will again gain dominance. That’s how the cycle works. But, seeing the current market, even I think that maybe its time to wrap some altcoins up and take home.

Quote from: darewaller on July 22, 2020, 07:12:08 PM

The fall of bitcoin dominance is indirectly telling us about the possible upcoming bull run in crypto space.

You are right. Altcoins are in verge of another stronger bullish trend. After recent bitcoin halving, we are all expecting another FOMO influenced bull run like what we had by 2017. But, due to covid19 pandemic and economic slow down of world markets, the bull run is getting delayed as per crypto expert's analysis. When vaccine for covid19 will be ready for public usage, we can expect bulls gets into action so bitcoin dominance will get impacted on that times heavily.

pedpedped101

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It really interests to check the dominance of bitcoin again. It is way below where it used to be since the start of this year. it's like it is already losing that dominance gradually an with the look of things, results are now showing that altcoins on the rise. many altcoins are going uptrend and that is it, it's altcoins season.

darewaller

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By considering one (bitcoin) cryptocurrency against 1000s of altcoins, it is always set to be falling but unfortunately we are not having any highly performing altoin which led bitcoin to be dominating up to 70% in total crypto market capitalization (by considering more than 90% till litecoin was introduced), I guess nothing new here for all of us. The fall of bitcoin dominance is indirectly telling us about the possible upcoming bull run in crypto space.

Because, when new investor joins this space, they will invest into both bitcoins and altcoins and based on their level of awareness, they may split some portion higher and the rest as small. But, when considering the number of active altcoins, then we can simply expect dominance of bitcoin may keep going down incoming weeks which may last for next 12 to 18 months as well.

Kasabus

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Quote from: durilup on July 22, 2020, 12:53:11 PM

In my opinion we still have to wait till we will see altcoin season again . After my predictions I think altcoin party will be in almost 7-8 months if we check the history of 2017

Let us not jump into a consclusion that altcoins season is here again just because bitcoin dominance is starting to fall. It could not be a good basis after all. Let just wait for another months to observe altcoins price movement and see where will it goes. Remember that this crypto market is very volatile and that we see at the moment might suddenly change the following day so do not be fooled by it.

levyashin

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I am not sure about alt party yet but there is a defi party for sure.

Tokens lost %99.99 of their value still worth nothing but some good ones and defis are getting better. I don't think there will be any 2017 meaningless crazy alt party but it is good time to invest in alts right now.

aprilnot

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Quote from: Stedsm on July 21, 2020, 03:29:17 PM

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

this is not good for altcoin, the dominance of bitcoin is very important to prop up the market. if bitcoin dominance decreases nothing good will happen. maybe the dominance of bitcoin looks very terrible because it can affect trends. but if it's weak doesn't that mean it's a bad sign?

jacafbiz

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I will advice people not to be a lamb used for the sacrifice, if you missed the current Altcoin rally wait on the side line and buy in after correction to think this would continue till August is deceiving yourself. Most of these money would moved back into Bitcoin and when that happens you pick the good Altcoins cheap.

CashbackLover

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If you are buying altcoins because of the little fall downfall in Bitcoin dominance you are fooling yourself, altcoin season is still far away, instead of doing this it's better to follow DeFi success, find a better new DeFi project and make your money

durilup

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In my opinion we still have to wait till we will see altcoin season again . After my predictions I think altcoin party will be in almost 7-8 months if we check the history of 2017

carriebee

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Quote from: Docbee on July 22, 2020, 09:54:21 AM

Quote from: Stedsm on July 21, 2020, 03:29:17 PM

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

Yeah I also took keen note of the reduction in the usual dominance of the Bitcoin. Some altcoins are actually doing very well and they are also gathering up potential to compete with Bitcoin. The fact is that, it's not about BTC alone, there are many altcoins worthy of investing in too.

Well we cannot conclude if this is the beginning for alts season though price these days for some alts are currently moving upward. There are still good altcoins to invest so choose a solid project. Just collecting good alts which you can earn a profit. Let's see and observe in bitcoin if the dominance could continue decreasing.

Docbee

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Quote from: Stedsm on July 21, 2020, 03:29:17 PM

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

Yeah I also took keen note of the reduction in the usual dominance of the Bitcoin. Some altcoins are actually doing very well and they are also gathering up potential to compete with Bitcoin. The fact is that, it's not about BTC alone, there are many altcoins worthy of investing in too.

isaac_clarke22

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Quote from: TheUltraElite on July 22, 2020, 01:49:13 AM

With the bitcoin price being stable around 9k USD it is possible that people are moving to alts because of lack of volatility in bitcoin price.

Now the hypocrisy here is that because some nocoiners say that the volatility is the reason why they dont like bitcoin and then the same lack of volatility makes them move away from bitcoin too. I guess they dont want to put money in any cryptocurrency at all.

But the charts dont always point to what the possibilities are. It is a more of a 50-50 chance. Would not suggest buying altcoins at all unless you are very confident that they are going to go up in future, most of the time it is an inorganic pump.

Well there are two types of people anyway when it comes to volatility.
One are those type of people who are scared of the volatility in BTC. They might be buying right now because it is stabilizing above the price as you mentioned (9k)
Another one are those type of people that love the volatility since that made them gain, although losses are common as well.
Good thing I sold those alts I hold back in 2017.

ven7net

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Quote from: Stedsm on July 21, 2020, 03:29:17 PM

There was an upward channel pattern which was being followed by the BTC dominance since past 2 years and it recently broke down below 65% and is currently down under EMA 100. Seeing the charts very carefully, I believe that some alts are definitely going to rally super hard and BTC dominance will fall down more in order to let the party continue.

You are absolutely right. When the dominance of BTC falls, it means that funds are poured into altcoins and growth can be expected. It is worth noting that this has already happened many times, and for those who closely follow the crypto market and the dominance of BTC, such movements are obvious. By the way, it is by the value of BTC domination that one can try to determine the future direction of the price movement of BTC and altcoins.

Topic: Bitcoin dominance falling, time to bag in some alts? altcoin party? (Read 507 times)