Bitcoin dominance falling, time to bag in some alts? altcoin party? - page 2.

Japinat

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Quote from: 10BTCaDay on July 22, 2020, 07:58:53 AM

Quote from: Stedsm on July 21, 2020, 02:29:17 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.

I think that will happen. the altcoin season has already started and now investments in altcoins are the smartest decision. It is important to choose the right altcoins for investment

Excuse me, but how can you tell the altcoins season has already started? Do you have some kind of analysis with some basis on that?
Honestly, I still don't feel the altcoins season is already having a good move, it looks like nothing changes to me.

imstillthebest

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Quote from: Squezzi55 on July 22, 2020, 07:44:21 AM

Good altcoins like DeFi and other top altcoins can become very profitable if Bitcoin dominance keeps going down, it means that investors are more interested in altcoins now than Bitcoin, can be very profitable but not hundred percent certain

as far as i know defi is not an altcoin but its called decentralized finance that is still related to the crypto . btc dominance does not mean that alts are now profitable but it could also be a sign that all crypto markets are going down for a while.

alts can be profitable no matter what happen on the price of btc just like what they did on the year 2017 for example because both alt and btc are pumping that time .

10BTCaDay

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Quote from: Stedsm on July 21, 2020, 02:29:17 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.

I think that will happen. the altcoin season has already started and now investments in altcoins are the smartest decision. It is important to choose the right altcoins for investment

ethereumhunter

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Quote from: Squezzi55 on July 22, 2020, 07:44:21 AM

Good altcoins like DeFi and other top altcoins can become very profitable if Bitcoin dominance keeps going down, it means that investors are more interested in altcoins now than Bitcoin, can be very profitable but not hundred percent certain

I prefer to choose the top altcoin than the DeFi project because the project is still new for me. Although some projects can achieve success, that is not a good recommendation to choose those projects. But still, I think with the bitcoin dominance falling will be a good time to buy more bitcoin because once bitcoin price increases, your profit will be bigger than to sell the altcoin unless the altcoin price can increase so high.

TopT3ns

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Quote from: Squezzi55 on July 22, 2020, 07:44:21 AM

Good altcoins like DeFi and other top altcoins can become very profitable if Bitcoin dominance keeps going down, it means that investors are more interested in altcoins now than Bitcoin, can be very profitable but not hundred percent certain

profitable? I don't think anyone can guarantee that they can always make a profit because every cryptocurrency has a price movement that depends on demand, meaning that when more and more are interested in this project and many support it by buying it there may still be profit potential.

Squezzi55

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Good altcoins like DeFi and other top altcoins can become very profitable if Bitcoin dominance keeps going down, it means that investors are more interested in altcoins now than Bitcoin, can be very profitable but not hundred percent certain

sana54210

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Quote from: Stedsm on July 21, 2020, 02:29:17 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.

When the ethereum was on its peak times by late 2017 and beginning of 2018, bitcoin dominance suffered as low as 45% if I remember correctly. I guess that was the peak time for entire altcoin industry but this time I'm not seeing any altcoin is performing like how ethereum was was doing at those times; ICOs were too hot by raising millions even one the first day itself. I guess this time would be completely different still bitcoin is about to lose its dominance in crypto space.

I mean this time bitcoin is going to lose its dominance but not just because of performance of one single altcoin but because of multiple altcoins' performances. I'm seeing many altcoins are doing better in recent times particularly ada and chainlink are performing too good. This could be the enough reason why bitcoin will be losing its dominance in this crypto space in coming days.

Lorokan

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Quote from: Stedsm on July 21, 2020, 02:29:17 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 very right, the altcoin market is gaining dominance each day and lately it is a strong dominance as we experience different altcoins mooning graciously and bringing good profits to investor. Now is the time to have a comprehensive research and find out worthy altcoins, bag them hugely, and explore the profits massively. A good research will reveal the good and valuable altcoins.

livingfree

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Quote from: dre1982 on July 22, 2020, 01:22:46 AM

Quote from: livingfree on July 21, 2020, 06:22:36 PM

Possible.

BTC dominance is dropping and if that happens, we can only think of one thing. The money will flow to altcoins and that seems to be happening, Chain Link pushed to be at the all-time high and some alts are also in good green days.

Well I think it's just temporary that the dominance is dropping. When Bitcoin is going up again, you will see that a lot of people trading there altcoins back for bitcoin.

Nowadays there are too many altcoins and with a lot of scams between them. I learned my lesson and won't invest in any new coin anymore.

Yeah.

That's always temporary and the same goes for the bullish trend so the bearish trend. So the drop of bitcoin's dominance has no assurance of how long it will stay in the table.

Don't be a victim again of any scam whenever you trade or find some new projects on your road.

cryptoherr

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Quote from: kentrolla on July 22, 2020, 04:51:17 AM

Bitcoin dominance is mainly affected by the so called alt season, low BTC dominance could suggest you that altseason where the demand might be higher.

The market is purely unpredictable to me the BTC price looks stable now, Investors will always look for safer investment rather than taking up riskier position. So it's better to wait for few more days and invest accordingly.

Yeah I am with you here, the BTC dominance is affected by altcoin season. The good thing here is if you know about Altcoin season you understand that this is just a seasonal thing and nothing fundamental

kentrolla

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Bitcoin dominance is mainly affected by the so called alt season, low BTC dominance could suggest you that altseason where the demand might be higher.

The market is purely unpredictable to me the BTC price looks stable now, Investors will always look for safer investment rather than taking up riskier position. So it's better to wait for few more days and invest accordingly.

RabbiTANK

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If more money flows into altcoin than Bitcoin then Bitcoin dominance will get lower, I thinks that's the perfect explanation, correct me if I'm wrong, this can easily make altcoins start surging, remember, anything is possible with crypto, do not underestimate.

Wingsbtc

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I know what Bitcoin dominance is and the present drop isn't powerful enough to get saturated to altcoins and keep they revaluating, the money flowing into altcoin is going on DeFi projects, that's my own though but for the fact that Bitcoin remains in 9k isn't good

Apostlekin$$$

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Sovryn - Brings DeFi to Bitcoin

It's not the perfect time to start bagging altcoins, that fall in dominance is just for short time and it will bounce back up very soon, don't rely on this and start hoping for more crypto adoption, this is the only way that new money can flow into crypto space

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Quote from: Anonylz on July 22, 2020, 01:57:57 AM

Look before you leap i would say, yes the btc dominance is reducing but still not enough to go jump into alts at this moment, one thing i have come to understand, market is unpredictable, any unexpected thing can happen,

Indeed market is unpredictable but there is a sure sign of the market swing. Just for this instance. BTC market dominance falling means that the funds flowing to the altcoin market more than the BTC market. Mostly, this is sign of the start of altcoin season.

Quote from: Anonylz on July 22, 2020, 01:57:57 AM

btc have been stable for quite some time now and many people have different interpretation to it, but whatever the case maybe, i won't start buying alts just yet, even if you must buy, then stick to the well known top alts, avoid newly listed just because they have low market cap.

Bitcoin dominance is not about the actual price of BTC but its percentage on the pie of the whole cryptocurrency market. Well, there is no harm in waiting, just be vigilant and don't be a late buyer.

investgarant

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In the near future I expect a sharp increase in bitcoin to the ATH area with top alts, and others later or with him, then there will be a decrease in the area of 6-7k and after that will start a new hypercycle of growth.

Phoenix_PROG

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That fall isn't impressive enough to start a altcoin season, no it won't work and it's not even the right time to start watching or keeping eye on Bitcoin dominance, if Bitcoin can reach 20k once again then I will start watching it's dominance because I'm sure altcoins will surge right after that.

ololajulo

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Bitcoin dominance is not failing but I think the coin is allowed to help altcoins to pick up to attract more fund in the space. The bull market will not come if bitcoin stay dominant, let the money move around to other part of the space before it flows back into bitcoin. Dont mind most of the bitcoin maximalist they are also buying into altcoin at the moment, it is just how the cycle works but buy into profitable altcoins.

Anonylz

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Look before you leap i would say, yes the btc dominance is reducing but still not enough to go jump into alts at this moment, one thing i have come to understand, market is unpredictable, any unexpected thing can happen, btc have been stable for quite some time now and many people have different interpretation to it, but whatever the case maybe, i won't start buying alts just yet, even if you must buy, then stick to the well known top alts, avoid newly listed just because they have low market cap.

mersal

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Quote from: Stedsm on July 21, 2020, 02:29:17 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.

In 2017 when the dominance fell the whole crypto market is being at bull trend so the history is going to be repeated gain?

Centralized coins are also a reason for this down fall which isn't doing anything beneficial for the crypto market, all they are doing is just printing money from nowhere and trying to create inflation in the decentralized system.

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