Topic: Bitcoin dominance hits 43%, alts surging ahead - page 2. (Read 7812 times)

I understand the formula you analyze clearly even though the formula look and sound so simple but it has proven to be more effective when the trader is favored with luck as to have opportunity to buy at a discounted price and be able to sell when the price is higher in percentage gians, there is no doubt this formula have it own associated risk and that should not be overlooked since the posibilty that a trader will apply fhis formula and still end is lose if he failed to take advantage of the right time to take action.


Obviously, buying low and selling high has become a traditional way of trading bitcoin to take advantage of it DCA value at the right time.


The presumption is right, because selling at whateve price is not a good idea since bitcoin is meant to be held for long term to fully exuste it potential price, and for whatever reason we have to overlook BTC vs USTD value at some point if we are in for long term investment holding.


But also if we have any unavoidable reason to exchange our Bitcoin to fiat then it better done when bitcoin value is high to be able to take advantage of the dollar costing and spend less bitcoin.

Shitcoin have no long term formula and rather relies on short-term speculation, and is full of hype and pump/dump reactions, so its formula cant work with Bitcoin since Bitcoin is a long-term purpose.

Well turns out I spoke to soon. Ethereum initially did gain some market dominance after last weeks SEC actions, but only ended up failing to keep up with Bitcoin in the end... it's still Bitcoin season.

Bitcoin's market dominance is now at the highest level for over 2 years, so if that's not highly significant given recent news, then I don't know what is. I also think that when it reclaims over 50% of the market, which it is already very close to doing, this dominance will quickly climb back to the 60-70% range. As in reality, Bitcoin's dominance has also been in a much wider range, between 30% and 70%, for the past 6 years now.



Although there is no such "real" volume for Bitcoin's dominance, based on the amount of time spent between 50% and 60% and overall market volume, there is a clear gap between these levels. Hence in 2021 the dominance fell quickly from 60% to 50% and likewise this year could increase from 50% and 60% very quickly as well. I also suspect there could be further SEC action in the near future which will further affect many speculate altcoins and encourage more liquidity to enter and/or flow back in Bitcoin. Especially with more exchanges de-listing altcoins accused of being securities and the like, this volume will dry up signifcantly.

While Bitcoin might have struggled to break-out of it's 1 year range between $15K and $30K, the same is not true of it's dominance within the market where is much larger breakout is currently underway. It's also long over-due for participants who have been in the market for less than 4 years to see what a Bitcoin season genuinely looks like, and how far altcoins can ultimately fall, which is much lower than they are now...

Bitcoin dominance can not be forgotten, mean while it's really dominating, what is likely not easy to predict is the price movement, but their is really no Altcoin that is more dominant than Bitcoin and that's because Bitcoin holds the market, even for those that are only Altcoins investors, most of them who are awear that the market is lead by Bitcoin still look up the price analysis of Bitcoin because during Bull market, other Altcoins will join the trend but if you must know, Altcoins are reliance on pump and dump and when a token is dumped that it can not recover again, the project owners swings to a new project and try to build another Altcoins that is likely to die off after some months or a year and thats why Bitcoin dominance can't be forgotten because every other project's idea tries to emulate from Bitcoin which they are not really getting it right.

Forget Bitcoin domination for now, because Bitcoin Domination is currently unpredictable,
look at the fact that currently Bitcoin dominance is at 47% and altcoin prices are still bearish,
in 2021 Domination above 40% is already bullish but now I don't know.

Yep.. these are likely to be pretty personal kinds of threshold considerations that any of us should be able to establish in advance, and we can also project out various upside and downside scenarios, and personally, I consider the upside scenarios to be more important especially if you might trajector out how many BTC that you currently have and how many you are accumulating on a regular basis is of course somewhat dependent on price (to the extent that you are still accumulating), so there may be some ways in which you have various divided strategies that are dependent on BTC price movements and then also strategies that are dependent on the passage of time.. by knowing your incoming cashflow and the projections of likely cashflow including when you might be potentially dipping into extra parts of your BTC in the future (which may or may not end up depending on price, if you are largely already in profits or expect to be decently in profits by the time you get to the stage of dipping into your BTC holdings).

I do have a thread where I try to bat around several of these kinds of BTC investment and even investment portfolio management ideas (that mostly focus on BTC), but also I got (and modified) several of ideas about ways to attempt to manage selling BTC on the way from Rpietila's (Risto) (RIP) 2013 Thread entitled.:  (SSS) - A Sane and Simple bitcoin Savings plan  You can see in some of my responses in Risto's thread that I did not completely agree with some of his ideas about selling and then completely staying out, but I do overall agree with the idea that when you sell, then you should not be expecting to buy back.. so if you do end up getting opportunities to buy back, then those are merely bonuses - or ways to make lemonade out of lemons - rather than anything that you would be purposefully selling BTC with the idea/or purpose to buy back... so the idea of raking profits seems a good mental framework for why we might sell our BTC when we are presumptively largely in profits whether that is 2x in profits (maybe as our starting threshold) or some other amount including sometimes higher amounts, like 5x, 10x or 50x or more in profits... it can still work with lower level of "being in profits" even though I would be somewhat judicious in terms of NOT selling very much if there is not very much profits.. such as less than 2x.. but still people have to consider their own threshold levels and their own ways of managing these kinds of tradeoffs that might be considered prudently rebalancing based on mostly price moves of selling on the way up and buying on the way down.. rather than engaging in TA and trading that is based on guesses about the price.. so if we are not guessing about the price, but instead just setting up systems in which the price comes to us... and we might be somewhat emotionally neutral whether it goes up or down because we have orders no matter which direction (so long as we don't run out of money on the way down and bitcoin on the way up).

@JayJuanGee considering your idea of selling some your BTC on the way up and buying on the way down kind of strategy and in order to avoid selling your BTC and the price continues to rise, another method which I think should be fine or ideal to follow to avoid selling without getting cut on the process is deciding or stating out how much of your BTC that you want to HODL in your portfolio regardless of where the price may goe upwards or downwards, I'm not touching this amount of BTC and to state how much that you want to sell when a profit is realized.

Unfortunately, after managing to stay above the trend line for 8 days, the price fell back into the Falling Wedge pattern. Nobody expected this to happen, but yes, FUD is always the cause.

Well, now we have two strong support levels, where the price might bounce. First, there is the $31,000 level. We hope the price can stay there and start rising again. However, don't forget that there is also a lower support level, which is $19,549.

If the price fails to hold on to the $31,000 mark, we could see the price drop even further. we are now at a tipping point. Will this be a recovery moment, or will the price continue to fall? Well, we can't guess for sure. But what is clear, we need to be vigilant and watch developments carefully.

Your opinion is very baseless and not logical enough for me because altcoin developers in the past also looked at Bitcoin more often so they tried to study the existing system in Bitcoin before creating altcoins as their product for now. And it is only natural that Bitcoin gains greater dominance in the market because Bitcoin is the first coin to enter the market before thousands of altcoins were created. And I don't think that Bitcoin dominance can be bad for the market and altcoins because altcoins can also increase when Bitcoin starts to move up in the market, so there is no specific way for any altcoin to beat Bitcoin until now.

I even imagine that if there is one altcoin that can dominate the market and beat Bitcoin in any way, including in terms of market capitalization, maybe the market will not be good enough and more vulnerable to collapse because the demand for Bitcoin is still far greater than altcoins so that when Bitcoin's influence starts to low and lost in the market, altcoins will also not be able to develop properly in the market because the number of enthusiasts is still less when compared to Bitcoin. So why are we thinking about beating Bitcoin if the proof through its dominance percentage is very clear in the market.

Even though I mention the selling on the way up strategy and buying on the way down strategy, there is quite a bit of "devil in the details," and ultimately I don't really believe that it is a good idea to sell in order to expect to buy back cheaper.  Therefore the amounts that might be permissible to sell on the way up would be relatively small and ONLY as a kind of insurance program (just in case the BTC price goes down, but if it does not go down, then don't expect to buy back, just use the money generated from the sales for funzies).

So, there are some presumptions in my considering even if selling at all is a good idea, and that would relate to having already had reached high accumulation levels and likely to have had overly accumulated, which makes it easier to sell some and it would presume that any coins sold would be in profits and maybe even in many time higher than the basis levels of profits.

For sure, strategies for shitcoins would be much different, and seems kind of dumb to me to sell some BTC and then to fuck around with shitcoins with the proceeds, but yeah, people can do what they want, even if it seems dumb to me.

Developing a personal Bitcoin holding strategy is a fast track to becoming financially stable and having confidence in your decision whether or not to sell or not and what time is best to sell on the way up in other to buy back at a lower price, this is what some folks failedo develop in other to help them in their bitcoin journey because bitcoin is most beneficial as a long term asset and not for short term speculations like shitcoins.
Many have failed to accurately and practically practice the effective measures in buying and selling Bitcoin and at that sometimes they make wrong Bitcoin to fiat choices, such as selling at the wrong time or also buying at the wrong time, this has led to so many misconceptions on their conviction to hold bitcoin for the long term goals.

As an update for Bitcoin dominance today, it certainly looks like it is continuing to move to the upside, breaking out of the previous two-year range that is quite significant:



Also to note, with the SEC clamping down on altcoins under securities law, we can see how Bitcoin & Ethereum are both benefiting from this (compared to the rest of the market):



I realise Bitcoin has also corrected to the downside with the recent shitcoin sell-off, but it doesn't necessarily have to continue. We've already had the 1 year long bear market without Bitcoin gaining any market dominance, so a rise in Bitcoin's dominance from here could certainly lend a hand to a further recovery if 2019 is anything to go by. This is when BTC dominance climbed up to 70%.

The influence of bitcoin is still strong and dominant, it can be said that market conditions depend on bitcoin, if the price of bitcoin goes up then the price of altcoins will also go up, or vice versa, this is what makes almost everyone store assets in bitcoin rather than in altcoins, but for me for now prefer to invest in altcoins and maybe i keep bitcoin about 15%.

In my view, Bitcoin's dominance in the cryptocurrency market has both positive and negative effects. On the plus side, Bitcoin provides stability and is widely recognized. However, some people believe that altcoins are limited by following Bitcoin trends and I think the most important is a balanced market condition to avoid excessive volatility and The relationship between Bitcoin and altcoins is very complex, and the market will continue to grow. While it is unlikely that any altcoin will surpass Bitcoin in terms of market value, they can compete on technology and efficiency.

There will be no Altcoin that will beat Bitcoin in terms of marketcap, but Bitcoin can be beaten in terms of efficiency and blockchain technology,
it has been seen that the impact of Bitcoin's dominance is only 45% and 55% are in altcoins,
but if you wish domination is fully controlled by one altcoin so of course the crypto market will be very volatile than this.

Buying and selling in perfect timing will be the best act dealing in crypto mate because we have seen the purchasing power of everyone .
some bought at low while others buying while increasing yet manage to earn .
meaning one thing mate and that is no matter what happened , Bitcoin will always bring us profit if we will only trust this coin and not allowing to believe in Pump and dump coins like altcoins.
keep buying bitcoin because this is what the crypto market symbolize .

If you are not an eth maximalist, you should know that the dominance of etc can never be broken. There are altcoins that are more efficient and faster than btc but considering Bitcoin's symbolic weight and total market share this dominance is very difficult to beat. I wish btw didn't have so much market dominance and we could see two, three or more altcoins competing with btc. I dont think this will never be possible but i will never stop investing in different coins as important as btc.

I do not think that the dominance of btc will decrease with the increase in the number of users because i think that new people who enter the market will definitely enter the market by hearing the name of bitcoin and at the same time i think that large companies are constantly investing in btc. The presence of companies strengthens the dominance of btc.

I think this dominance of Bitcoin will never change. Alternatively, there has not been a coin as well known as Bitcoin for such a long time. Maybe we can count ETH, but it still couldn't reach that level. It has been that way for many years and I think it will continue that way. If one day the number of users becomes more than today, maybe then such a possibility may arise. Maybe.

I think this situation will only change when the number of users increases and it becomes legal all over the world.

I did not invest thinking that altcoins would get rid of BTC's dominance. Because I don't remember if it happened before. Bitcoin completes its move and then comes altcoins. I always try to move my investment in this direction.

I think it's hard going friends. Don't get your hopes up, where you want to see altcoins get rid of Btc's dominance I don't think that's going to happen. I see that Btc has dominated the market for quite a long time, even today where no other coin has been able to beat BITCOIN dominance. As a whole the Crypto market is the parent btc and all increases and decreases in atlcoin are influenced by falling or rising btc prices. So you can change your perception to make sure it won't happen forever.

Apart from that there is only ETH as the closest competitor to BTC. But ETH is still difficult enough to exert strong pressure to undermine btc dominance even though they are atlcoin which has the largest share at the moment.

Personally, I don't really have any problem that we might attempt to figure out bitcoin's value in terms of fiat, because we have both fiat and bitcoin systems that are going on at the same time, and likely we are going to need to retain some value in each of these systems, as the value of the various fiat systems are likely going to continue to gravitate into bitcoin, even though it could happen quickly  like in 10 years or it might take a couple hundred years to really play out.

So each of us has to attempt to figure out our own bitcoin strategy and our various ways of attempting to hedge ourselves, including recognizing that bitcoin is quite likely the greater prize that we need to continue to attempt to make sure that we guard and that we would likely spend our bitcoin last, except to the extent that we might be trying to sell BTC on the way up in order to buy back lower ....but from my point of view we have to be careful to never really sell too many of our bitcoin while we still might be in the earlier stages of accumulation and until we reach a certain high level of BTC accumulation, we likely need to develop strategies in which we are mostly buying and accumulating BTC, and surely once we are able to figure out our own BTC accumulation level targets, then we likely will have more freedoms (and options) to engage in some kinds of personally tailored selling to the extent that we might believe that it is feasible to do so and perhaps to the extent to which that we might not have fiat (and other assets) that we might want to spend first... we have to figure out our own balances in accordance to our own situation while hopefully keeping our eyes on the price, which is bitcoin as amongst the best of the assets/currencies (if not the best).

For a while I kind of confused why forks will constantly make a comparison between Bitcoin and shitcoin and Bitcoin vs fiat without minding the technological feature of Bitcoin that make Bitcoin not to be 100% in the category of shitcoin or fiat this have been the reason why many Bitcoin holders sees it as a get in a get out market speculation there by failing to really study and build a good understanding of bitcoin that will guarantee them that financial freedom in the future.

JayJuanGee just as you rightly said, we shouldn't based our profits level on term of Fiat value of Bitcoin, or what price we bought Bitcoin vs what price the Bitcoin are sold to base our satisfaction on, doing so will only portray us as gambling with the price and putting Bitcoin side by side with the fiat system which is not intellectually right and doesn't portray us as people with vas knowledge in bitcoin and blockchain analysis.

Bitcoin is best tool for long-term holding, and its fiat price does not make much difference so far we a sure of its long-term value preference.