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

BD Crypto

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Quote from: kesmex on July 28, 2020, 10:33:43 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, 10:33:43 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, 10:33:43 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.

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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.

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, 03:04:44 PM

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.

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, 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.

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, 06:12:08 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.

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Quote from: durilup on July 22, 2020, 11:53:11 AM

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.

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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 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, 08:54:21 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.

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.

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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.

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, 12:49:13 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.

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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.

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.

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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.

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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

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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.

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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.

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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.

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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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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.

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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.

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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.

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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.

Maxstl007

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The present fall in dominance won't make a difference on altcoins, we need better bullrun on Bitcoin first before hoping for altcoin party, it's never going to work that way, that dominance will rise back up before you know it and altcoins won't benefits much

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Quote from: mindrust on July 22, 2020, 01:09:28 AM

Good idea but most alts have zero liquidity. You better don't buy the obvious scams and stick with the safer ones like xmr, ltc, eth, doge...

Selecting the altcoin you mention will be better than to choose the suspicious coins or the new coins. I am not saying that the new coins will be a scam, but I only think that the new coins will have the time to get a pump and dump before the coin settles to the correct price so that we can analyze the coin. If we can stick to the old coins that have history, and we can see the movement of that coin every day, that can help us analyze the price of the coin, and perhaps, we will see a good time to buy and sell the coins.

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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.

Bitbtc8

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Bitcoin dominance falling when Bitcoin is still at 9000+ ? How is this a good move? No it's not, even if this will have effect on altcoins it won't be big, dominance should be falling right after Bitcoin hits a new all time high and then altcoins will benefits a lot.

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Quote from: havoc928 on July 22, 2020, 12:52:54 AM

I think we should wait for a little bit of time to buy altcoins. The market is not fully recovered yet.

Market was recovering and staying at 6k pre-pandemic but now it is good that even after the pandemic the price touched 9k. Still the altcoins are recovering with time.

Quote from: Hippocrypto on July 22, 2020, 12:55:46 AM

Talking about 50-50 chance mate, that's always a strong conviction to choose for because some altcoins has no volume for the main time.

They lack a lot of things not just volume. A long term profitable projects needs good development, intrinsic market making abilities and a process to spend their tokens so as to generate a demand from the market which drives the price upwards.

Quote

Only bitcoin has an active trading volume that's been consistent few months ago despite of the pandemic. Other new potential uprising coins and tokens still tried to compete, but not capable to come up with a better progress due to several factors.

I am not optimistic about the newcomer altcoins post-2017 at all. They have very little chance of surviving the next few years unless it is something groundbreaking and that is almost zero in the crypto economy.

Bigger development occur more in the mainstream sectors, sadly for now.

mindrust

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Good idea but most alts have zero liquidity. You better don't buy the obvious scams and stick with the safer ones like xmr, ltc, eth, doge...

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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.

Once the large-cap projects start making their move then I believe BTC's dominance will fall even further which could be even more bullish for altcoins. But if BTC moves above 10k then it could be a totally different scenario IMO.

JeffBrad12

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If the money that goes to altconis from btc dominance is spread out evenly it's not gonna give any affect to alts anyway. the alts market is already overflooded with too much projects and bitcoin dominance falling a little doesn't mean something really big. at most it's just temporary and will eventually being cashed out to btc again.

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Quote from: TheUltraElite on July 22, 2020, 12:49:13 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.

Talking about 50-50 chance mate, that's always a strong conviction to choose for because some altcoins has no volume for the main time. Only bitcoin has an active trading volume that's been consistent few months ago despite of the pandemic. Other new potential uprising coins and tokens still tried to compete, but not capable to come up with a better progress due to several factors.

havoc928

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Quote from: TheUltraElite on July 22, 2020, 12:49:13 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.

LOL! That's so true. Some people say like they don't like investing in the cryptocurrency market because of its volatility. However, volatility is the reason why we can earn money out of the market. How could you earn profits if the price is stable? Back to the topic, I think we should wait for a little bit of time to buy altcoins. The market is not fully recovered yet. Right now I prefer to invest in BTC and ETH to see what's happening next. I believe there will be an altcoin bullish season later this year.

TheUltraElite

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So anyway, I applied as a merit source :)

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.

livingfree

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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.

tippytoes

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Quote from: bttmember on July 21, 2020, 04:23:09 PM

It is always good to accumulate more and more alts especially when the market is ranging for so long the only due diligence you require is that you only have to pick quality coins and check previous highs of each coin and see the largest difference now with reference to previous highs and buy such coins to benefit in next bullish cycle.

Only very few alts will qualify to be good investments. Most of them are crap and hard to increase its value in the market. I guess, I will stick to bitcoin but for alts, maybe set a lil bit but only to selected top alts. I still have hesitations when it comes to alts. Only few of them have the chance to grow. So yeah, as investor, you should really do your homework before shelling out money to these alts.

Japinat

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Would this signal for the altcoins party yet? No, if bitcoin is stable, altcoins would be stable at their respective prices, so I don't really expect something big will happen if that's the behavior of the market, I'd rather want to see bitcoin moves and altcoins will follow, regardless of the dominance rate.

coupable

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According to numbers, yes, the Bitcoin dominance is falling. But i don't really think caused by people start bagging other alts. From what i can guess, the stability in btc price makes people preparing themselves to the next price drop, so many of them moved to stable coins [USDT,USDC,...] just in case the price goes below the 9000$.

Quote from: bttmember on July 21, 2020, 04:23:09 PM

It is always good to accumulate more and more alts especially when the market is ranging for so long the only due diligence you require is that you only have to pick quality coins and check previous highs of each coin and see the largest difference now with reference to previous highs and buy such coins to benefit in next bullish cycle.

This is what a regular trader would think about. But, it's more risky then holding bitcoin.
For others (who are not traders), what is good in accumulating alts? Bitcoin is always useful even for those who hold a diversified portofolio.

bttmember

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It is always good to accumulate more and more alts especially when the market is ranging for so long the only due diligence you require is that you only have to pick quality coins and check previous highs of each coin and see the largest difference now with reference to previous highs and buy such coins to benefit in next bullish cycle.

Pecunia non olet

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The drop in dominance is not interesting. In the altseason the dominance of Bitcoin dropped below 30% level, we are in the phase when everyone is thinking about the real use case of altcoins and they are afraid that Bitcoin is the only thing what they need in a personal wallet. Undecided

ryzaadit

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Yeah maybe.

With the stable condition bitcoin price around 9000-9300 with almost 2-4 weeks, make the altcoin trying to gain from this stable condition. I have a confidant this party will start soon, load my bag to some coin who have a good potential rise and the price still not going up.

Some of altcoin already gain maybe 2-5x times with this stable condition.

Zeehaxan

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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.

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.

Stedsm

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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.

Topic: Bitcoin dominance falling, time to bag in some alts? altcoin party? (Read 522 times)