Bitcoin dominance hits 43%, alts surging ahead - page 19.

Herbert2020

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Quote from: Johnzky on July 25, 2019, 01:48:58 AM

I have sold some of my altcoins when he bull of bitcoin starts and luckily I profit atleast good percentage now and planning to buy alts maybe in days to come because they are still dropping and may fall a little more before the growth finally happen

Purchasing altcoins right now can be a very stupid decision. The altcoin prices are going down, irrespective of the coin and the Bitcoin dominance continues to increase. After a brief lull, when the dominance declined from 66.5% to 64.5%, the Bitcoin market share is increasing once more. The writing in the wall is clear. The death bell is ringing for the altcoins. If you still want to invest in them, then please go ahead with your plans.

this "death bell" has been ringing for altcoins from the day they were created with pump and dumping being their purpose. it is not a new thing that started now that they are seeing dumps! the problem is that people "invest" in altcoins whereas they should trade them because that is what they are designed to do.
even now there are shitcoins that are being pumped hard and are giving "traders" a lot of profit while bag holders aka altcoin investors continue losing money.

omonuyak

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Quote from: Saisher on July 17, 2019, 08:54:57 AM

That is why when we are in the bear market, I only buy Bitcoin and Ethereum, these are the only coins that are worth buying in the long term, some new coins are just hype and shill coins, the only thing that they can do is try, but when you analyze is the dominance is very obvious.

That is true and buy some of these Altcoins is like investing in hyip because it is up today and before you know down tomorrow. Some of them are now find it very difficult to grow and some are dying. It is advisable to invest now in bitcoin, bitcoin cash and etherrum and litecoin and not any of those coins that are dying daily. I have a friend that bought a coin with $700 and currently the coin his holding is below $40. I told him “if he could have invested in bitcoin he could have be in profits now and not loses”.

Johnzky

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What's the conclusion? better buy a little bit of btc than full bags of alts.

That’s somewhat to consider mate because of the dominance bitcoin showing the market now and besides we can just buy bitcoin now to ride the profiteering and return back to altcoins when the market begins being reasonable again for alts

I have sold some of my altcoins when he bull of bitcoin starts and luckily I profit atleast good percentage now and planning to buy alts maybe in days to come because they are still dropping and may fall a little more before the growth finally happen

jabrix

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Quote from: Saisher on July 17, 2019, 08:54:57 AM

That is why when we are in the bear market, I only buy Bitcoin and Ethereum, these are the only coins that are worth buying in the long term, some new coins are just hype and shill coins, the only thing that they can do is try, but when you analyze is the dominance is very obvious.

People believe in bitcoin which can provide the greatest benefits, do not want to learn the potential that exists in altcoins where the profits obtained can be greater with smaller capital.
The crypto market is too dominated by bitcoin trading, so forgetting that there are other potentials that can also be used as investment portfolios for both the short and long term. Especially for small capital investors.

South Park

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Quote from: bryant.coleman on July 21, 2019, 05:53:02 AM

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It's not new bitcoin is the mother of it and if ethereum will start moved i think all alts will go behind it. Back on 2017 the year of dominance of crypto all alts are rise on it when bitcoin reaches the All Time High of it. That's point of entry of it when bitcoin reached again the All Time High alts will come along with it.

Back in 2017, it was just crazy hype which helped many of the alts to attain multi-billion USD market caps. The ICO market was also at its peak and a lot of investors (who in turn got rich from Bitcoin earlier) poured their money in to these little-known projects triggered by the initial success of a few ICOs in 2016 and 2017. The ICO market fueled a bull run for ETH, which rose by 100x in 2017. Those who were left behind invested in the other altcoins, hoping that those coins will also give the same sort of returns. In the end, these projects, many of them in their infancy zoomed up by 100 or 200 times above their fair valuation. And the promoters moved in and cashed out under these circumstances. Many of them got filthy rich. And once they became rich, they lost their interest in the project and the development was stalled. And in the end, it was all predictable.

Most people just look at the charts and make the conclusion that since alts outperformed bitcoin during the last bull run the same must hold true this time as well and they forget all the circumstances that surrounded the market at the time, during 2017 people were investing in all kind of icos, a scammer only needed to create a nice looking website and that was enough to receive 10 millions in funding and since many shitcoins were giving great profits to early investors no one really thought the consequences of their actions, but eventually the bubble burst and most of those coins disappeared and since then many have learned their lesson and they are not willing to invest their money in shitcoins anymore.

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Quote from: buwaytress on July 23, 2019, 09:21:17 AM

Quote from: arpon11 on July 23, 2019, 02:33:15 AM

Quote from: K21000 on June 25, 2019, 11:43:27 AM

60% is nothing. Prior to 2017 70%+ dominance for bitcoin was the norm. Things are correcting to the way they were prior to the 2017 pump.

Many of the altcoins we have now are not going to recover this year and investors out of fluctuations are selling or flipping their altcoins holding to Bitcoin and normally during the bullish market like this funds do flow from fiat to Bitcoin and from bitcoin to other coins but the situation is quite different this time around. Bitcoin is retaining majority of the funds that flow to cryptocurrency market.. Bitcoin dominant keep increasing since the beginning of April this year and it is growing to the level that was not there before.

And then there's also those who say that any percentage means nothing, since dominance is all based on yet another metric that a lot of people think are worth nothing (market capitalisation).

I tend to see it in a slightly different light. For me, despite all the scores of truly shit tokens with no users inflating the market with price, and despite all the hanky-panky from exchanges putting up all those fake alt volumes, Bitcoin is STILL at this level of dominance.

That says something about it.

Fake volumes were commonly found on every exchange. Even after providing with such volumes the dominance of bitcoin stands high. Importantly this year lot of funds invested on altcoins got moved into bitcoin as the growth isn't that good with altcoins. Altcoins will not recover that short, year 2017 was a blessing for altcoins and the altcoin holders.

buwaytress

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Quote from: arpon11 on July 23, 2019, 02:33:15 AM

Quote from: K21000 on June 25, 2019, 11:43:27 AM

60% is nothing. Prior to 2017 70%+ dominance for bitcoin was the norm. Things are correcting to the way they were prior to the 2017 pump.

Many of the altcoins we have now are not going to recover this year and investors out of fluctuations are selling or flipping their altcoins holding to Bitcoin and normally during the bullish market like this funds do flow from fiat to Bitcoin and from bitcoin to other coins but the situation is quite different this time around. Bitcoin is retaining majority of the funds that flow to cryptocurrency market.. Bitcoin dominant keep increasing since the beginning of April this year and it is growing to the level that was not there before.

And then there's also those who say that any percentage means nothing, since dominance is all based on yet another metric that a lot of people think are worth nothing (market capitalisation).

I tend to see it in a slightly different light. For me, despite all the scores of truly shit tokens with no users inflating the market with price, and despite all the hanky-panky from exchanges putting up all those fake alt volumes, Bitcoin is STILL at this level of dominance.

That says something about it.

Vishnu.Reang

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What's the conclusion? better buy a little bit of btc than full bags of alts.

A lot of the noobs still think that Bitcoin is more "expensive" when compared to the alts. That's is like illogical thinking. The users are only thinking about the price per coin, while ideally they should be looking at the market cap. For example, the proponents of ETH argue that the price of their coin is just $220 and that of BTC is $10,000 and therefore ETH is much cheaper than BTC. But they conveniently hide the fact that the total supply of ETH is many times higher than that of Bitcoin.

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Quote from: Vaskiy on July 22, 2019, 04:53:21 PM

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What's the conclusion? better buy a little bit of btc than full bags of alts.

The dominance level has come low, but it is found above 65% which is a small margin drop from its peak dominance. Maybe soon there will be a turn in the market with altcoins rising in value. Considering the same it seems to be good to invest on altcoins. As in the above quote always the largest percentage needs to be allocated to bitcoin to make the portfolio more valuable.

That's not low, the last time I remember altcoins are breathing was when the dominant rate of bitcoin was around 30%, now it has more than doubled, so it's clear that the market currently is depending on the movement of BTC, if BTC will not grow, no chance for altcoins to rally.

arpon11

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Quote from: K21000 on June 25, 2019, 11:43:27 AM

60% is nothing. Prior to 2017 70%+ dominance for bitcoin was the norm. Things are correcting to the way they were prior to the 2017 pump.

Many of the altcoins we have now are not going to recover this year and investors out of fluctuations are selling or flipping their altcoins holding to Bitcoin and normally during the bullish market like this funds do flow from fiat to Bitcoin and from bitcoin to other coins but the situation is quite different this time around. Bitcoin is retaining majority of the funds that flow to cryptocurrency market.. Bitcoin dominant keep increasing since the beginning of April this year and it is growing to the level that was not there before.

Vaskiy

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Quote from: ?? on ??

What's the conclusion? better buy a little bit of btc than full bags of alts.

The dominance level has come low, but it is found above 65% which is a small margin drop from its peak dominance. Maybe soon there will be a turn in the market with altcoins rising in value. Considering the same it seems to be good to invest on altcoins. As in the above quote always the largest percentage needs to be allocated to bitcoin to make the portfolio more valuable.

Kewat

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70%+ dominance for btc is the norm for me. Yes, I'm not a fan of alts.

bryant.coleman

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Quote from: ?? on ??

It's not new bitcoin is the mother of it and if ethereum will start moved i think all alts will go behind it. Back on 2017 the year of dominance of crypto all alts are rise on it when bitcoin reaches the All Time High of it. That's point of entry of it when bitcoin reached again the All Time High alts will come along with it.

Back in 2017, it was just crazy hype which helped many of the alts to attain multi-billion USD market caps. The ICO market was also at its peak and a lot of investors (who in turn got rich from Bitcoin earlier) poured their money in to these little-known projects triggered by the initial success of a few ICOs in 2016 and 2017. The ICO market fueled a bull run for ETH, which rose by 100x in 2017. Those who were left behind invested in the other altcoins, hoping that those coins will also give the same sort of returns. In the end, these projects, many of them in their infancy zoomed up by 100 or 200 times above their fair valuation. And the promoters moved in and cashed out under these circumstances. Many of them got filthy rich. And once they became rich, they lost their interest in the project and the development was stalled. And in the end, it was all predictable.

box1111111

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And after this btc dominance they a re talking about alt season

bryant.coleman

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Quote from: ?? on ??

Do you have any fact based on which you said "trx is a shitcoin?

TRX may or may not be a shitcoin, but IMO it is very much over-priced (even at current levels, after falling from a market cap of $17 billion to $2 billion). And this story is not unique to TRX. It is applicable for the vast majority of the altcoins which are in circulation right now. The only individual who has benefited from the creation of TRX is Justin Sun, who made hundreds of millions of USD (if not billions) by converting some of his stash to USD during the peak bull run in January 2018.

For an altcoin having a market capitalization of $2 billion, it is having zero practical uses as of now. It was supposed to be used as a platform for decentralized file sharing. But how many users are doing this? Almost everyone is holding TRX as an investment asset, and not as an application platform. The only positive thing I could say about TRX is that Justin Sun has been very successful in promoting this currency.

Vishnu.Reang

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Do you have any fact based on which you said "trx is a shitcoin?

Here are my points:

1. It is not clear what is the real purpose of this coin. Justin Sun wants to "heal the internet", but he has no solid plans for the same.
2. Even the users don't know whether TRX is a social network, or media platform, or something like Bit Torrent.
3. Try to read the (original) TRX whitepaper. You will be surprised at the crude language and lack of idea.
4. Entire sections within the (original) white paper have been stolen from other projects (Filecoin and the InterPlanetary File System).
5. TRX is neither the first nor the best crypto platform to provide services like decentralized storage and filesharing.

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Quote from: Saisher on July 17, 2019, 08:54:57 AM

That is why when we are in the bear market, I only buy Bitcoin and Ethereum, these are the only coins that are worth buying in the long term, some new coins are just hype and shill coins, the only thing that they can do is try, but when you analyze is the dominance is very obvious.

Buying bitcoin and ethereum can help us to make a profit in the long term but be careful because bitcoin price and ethereum price is too volatile right now and we need to prepare for the worst thing that might happen later. Maybe we can get a low price now, but no one knows what will happen in the next hours. So we need to know when the time to decide by selling the bitcoin and ethereum, especially in an unstable moment like now.

Saisher

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That is why when we are in the bear market, I only buy Bitcoin and Ethereum, these are the only coins that are worth buying in the long term, some new coins are just hype and shill coins, the only thing that they can do is try, but when you analyze is the dominance is very obvious.

K21000

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Quote from: Pursuer on July 17, 2019, 04:29:00 AM

Quote from: K21000 on July 17, 2019, 02:31:58 AM

Lol 65% dominance for bitcoin is nothing historically speaking. Prior to 2017 80% dominance for BTC was the norm. I remember at one point in 2015 it went as high as 92%.....

well the number of shitcoins in circulation in 2015 was 1/15 of the current amount. so when the number of shitcoins grew and people started to care about market capitalization silly things such as "dominance" started shaping up and with nearly 3000 shitcoins in circulation today that percentage which has nothing to do with dominance came down!
and the funny thing is as these shitcoins started to die and the number started dropping from 3000 down to 2100ish, that meaningless percentage started growing.

so if anything this percentage is only showing the number of shitcoins in circulation Cheesy

Exactly. The biggest reason why BTC dominance has been so low over the past few years is because the market has been flooded with shitcoins with artificially high marketcaps. Now that this is being corrected by the market a clearer picture of what BTC's real dominance always has been and continues to be is coming back into focus.

Pursuer

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Quote from: K21000 on July 17, 2019, 02:31:58 AM

Lol 65% dominance for bitcoin is nothing historically speaking. Prior to 2017 80% dominance for BTC was the norm. I remember at one point in 2015 it went as high as 92%.....

well the number of shitcoins in circulation in 2015 was 1/15 of the current amount. so when the number of shitcoins grew and people started to care about market capitalization silly things such as "dominance" started shaping up and with nearly 3000 shitcoins in circulation today that percentage which has nothing to do with dominance came down!
and the funny thing is as these shitcoins started to die and the number started dropping from 3000 down to 2100ish, that meaningless percentage started growing.

so if anything this percentage is only showing the number of shitcoins in circulation Cheesy

Topic: Bitcoin dominance hits 43%, alts surging ahead - page 19. (Read 7929 times)