Bitcoin dominance hits 43%, alts surging ahead - page 26.

Sithara007

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Quote from: marcbitcoins on June 25, 2019, 07:39:50 PM

Just imagine that if you bought some Bitcoin 3 months ago for only $3,200 then you will realized your sudden earnings of up to more than 200% of today therefore expect Bitcoin will earn more huge dominance in the coming days if some Altcoins holders will continue to preferred to sell their assets for Bitcoin.

Actually the prices have increase by 300%. 3 months back, the exchange rate was somewhere around $3,000 per coin. The last time I checked on Bitstamp, it was in the range of $12,000-12,100 per coin. I expect the bull rally to continue until we reach 20K or 25K. And as per my understanding the OP posted this less than 24 hours back, when the dominance was 60%. Now it stands at 61%. That is 1% increase in less than 24 hours. Some of the alts like BNB and XLM have gone down against the USD, when BTC is showing a 24 hour change of +9%.

pooya87

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when you look at a fake number, all your conclusions are going to also be fake.

"dominance" that coinmnarketcap.com reports is completely fake because the number they are calculating has nothing to do with actual "dominance". it is simply a ration of bitcoin's market cap against total of 3000 altcoin market cap.
when things are calm these shitcoins get pumped and have their market cap increased and decrease that percentage. but when bitcoin is rising, all these shitcoins get dumped so their market caps go down hence that number goes up.
additionally when bitcoin has risen for some time there is a lot of newbies in the market then a ton of new shitcoins are created with massive market caps which then decrease that percentage!

then you look at that fake number and think bitcoin dominance is changing!!!

marcbitcoins

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Just imagine that if you bought some Bitcoin 3 months ago for only $3,200 then you will realized your sudden earnings of up to more than 200% of today therefore expect Bitcoin will earn more huge dominance in the coming days if some Altcoins holders will continue to preferred to sell their assets for Bitcoin.

Indrawan77

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If the investors already realise that most of the alt coin is not reliable then it will be good for bitcoin, the dominance of bitcoin shows that investors already back to invest, and usually this situation will continue to increase the dominance, btc and eth are the best coin fo invest, other coins are only can be used for short term trading

gentlemand

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Quote from: ?? on ??

Eth and BTC are really all that deserve any attention, Bitcoin is golden and eth has its smart contracts and willingness to adapt. Bsv,bch are bullshit propped up to try and stay relevant. Ripple is dead especially when Libra eats in centralized lunch.

I agree with you. today many investors prioritize BTC and ETH. investors don't expect small altcoins. so altcoin fluctuations are very bad. I see that the BTC market is not like 2017. BTC creates a bullish but bullish BTC does not have a good influence on other altcoins.

I don't believe Libra will ever arrive in the form they want it to, but if it did I think it may well shit all over ETH's ideas as well.

No doubt Libra contracts will be more secure and easier to create than the ETH equivalent. What of decentralisation I hear you cry? Um, no one cares.

Of course Libra won't make you dollars which is the only reason 99.5% of people are here and that's why alts will limp on no matter what state they wind up in.

Duzter

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As of now we've been experiencing a massive growth with bitcoin with a steady rise in the dominance level while the dominance level of altcoins were almost stagnant. There needs to be some form of growth, until then it is hard to experience good growth with altcoins. Over the 2017 rise ethereum experienced a big growth in the dominance of the market which at some point gave a mutual increase in the dominance and the price.

rdbase

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Really nice perspective on almost all the major alt coins as to compare to bitcoins dominance as of late which all the crypto youtubers are mentioning is what is causing the major spike up in price to rally up to $11,680 as of me writing this.
It is getting closer to $12,000 and it will no doubt cause all the other other coins to retrace their increases in price from the rise in value of the one they take the lead from. Wink

Dondont

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Quote from: Vishnu.Reang on June 25, 2019, 11:03:02 AM

Here is my outlook for the major cryptocurrencies:

1. BTC: The prices will continue to increase and a new ATH may be reached by the end of 2019 or by 2020. The dominance will continue to increase and may reach 70% by the end of this year. But one concern I have is regarding the transaction fee. It has risen by more than 10x since the start of the year. Another 10x increase would be catastrophic.

2. ETH: The exchange rates are still lagging behind the ATH. The poor health of the ICO market is probably pulling ETH down. The Cryptopia hack also played its part.

4. BCH: Holding well as of now. In case the BTC transaction fee spikes again (like what we had during 2017 Dec), then this coin can rocket upwards.

7. BNB: I would consider this coin as overpriced. A correction is due.

I think the coin above is still above the standard of the average even though indeed when Bitcoin experiences a bull run, all coins will also be weak in growth.
Although some people say correction to this day is quite worrying, this should not be an obstacle and should be used to take at least a portion of it.

Jating

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Quote from: BitBustah on June 25, 2019, 02:30:03 PM

I do think Ethereum will start to rapidly grow vs BTC considering it is the dominant altcoin with very high trading volume. I'm starting to think XRP will die out and Bitcoin Cash will reach the #3 spot. LTC will most likely dump again since it has no real future.

But LTC has its block halving coming up, so they could stay relevant for some time.

I can't remember when was the last time we had this dominance but I'm sure it will be around 50-55% when alts started to rally.

ETH has a lot of leg room to work, it is still a far cry from its last ATH but definitely could catch up when altcoins starts to move together with BTC.

As far as the rest, probably another pump-and-dump will happen and that is it.

XCANA

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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.

Basically i will agree with you because back in 2017 the cryptocurrency was on good momentum but seeing what 2019 has brought to the world of cryptocurrency, one could say there is more to swear the days goes bye. We might see another ATH in bitcoin dorminance before the year runs out. According to some speculatives, there might be a surge before which will hit the world unimaginable base on the price of Bitcoin. Bitcoin all the way.

dothebeats

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Everyone shifted their attention to bitcoin since it's the most profitable coin out there in the current times. Altcoins, on the other hand, are nothing but pure money grab opportunities made by devs. Honestly, ETH is the only alt that has gained a lot of improvement since its inception, and the rest are basically just the same with a few tweaks on the system but nothing new offered on the table. Anyway, bitcoin dominance will always be a metric used to compare and see whether people are still interested in it or not. As the market shifts its interest towards other prospects, sure enough bitcoin dominance % will shift too, and I think that's just normal and does not need to be a metric of its own.

BitBustah

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I do think Ethereum will start to rapidly grow vs BTC considering it is the dominant altcoin with very high trading volume. I'm starting to think XRP will die out and Bitcoin Cash will reach the #3 spot. LTC will most likely dump again since it has no real future.

shark69

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The dominance of bitcoin is always greater than other altcoins, because every day there will be new users.
Whether it's just for investment or trading purposes. New users if they hear the word cryptocurrency must be the first in their minds is BITCOIN.

bitbunnny

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Quote from: K21000 on June 25, 2019, 01:34:49 PM

Quote

Bitcoin dominance at this rate is not a healthy indicator for the market. It would be healthy to my eyes if I see a respective increase in altoins' prices instead f just bitcoin's.

Even if altcoin prices do go up there is a limit due to the amount of money going into alts drying up now. IPO/ICO projects launched in 2017 have begun to lose investor interest and we are starting to see that in stats with bitcoin beginning to regain its former greater dominance over the crypto ecosystem. In the next 12 months i would not be surprised to see bitcoin back at ~75% of total crypto market cap.

Just my take on things.

For me this is not a surprise. To be honest I never beleived in altcoins although I think it's good to have variety in the market. It was obvious that many investors that were enthusiasts about altcoin at the begininig will end up disappointed and turn back to Bitcoin again. Too many totaly missed ICO projects don't give confidence. So I strongly beleive that very soon Bitcoin will catch 75-80% market cap again.

Kriptonian1661

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Still lower than 80%, i would like it to be up there again..

partysaurus

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Quote from: Vishnu.Reang on June 25, 2019, 11:03:02 AM

According to the Coinmarketcap website, Bitcoin dominance has breached the 60% level and is now reported at 60.1%. Including the forked coins (BCH, BSV, BTG.etc), the total market cap for BTC+forks comes to slightly above 64%, while the altcoin market share has dipped below the 36% mark.

I am sure that a lot of users may be unhappy about this, but I am delighted as more than 90% of my crypto assets are in the form of BTC. I had sold most of my alt holdings in 2018.

I am not very sure about the reasons behind the rising BTC dominance. But I suspect that the users have become more matured now, and a lot of them have realized that investing in shitcoins is simply not worth all the risk.

Here is my outlook for the major cryptocurrencies:

1. BTC: The prices will continue to increase and a new ATH may be reached by the end of 2019 or by 2020. The dominance will continue to increase and may reach 70% by the end of this year. But one concern I have is regarding the transaction fee. It has risen by more than 10x since the start of the year. Another 10x increase would be catastrophic.

2. ETH: The exchange rates are still lagging behind the ATH. The poor health of the ICO market is probably pulling ETH down. The Cryptopia hack also played its part.

3. XRP: I would say that this one is the most worthless and unreliable altcoins among the top 10. Therefore I am not surprised by its falling market share.

4. BCH: Holding well as of now. In case the BTC transaction fee spikes again (like what we had during 2017 Dec), then this coin can rocket upwards.

5. LTC: One of the best performing alts. However I won't be surprised if a correction occurs post block reward halving.

6. EOS: I don't know much about this coin.

7. BNB: I would consider this coin as overpriced. A correction is due.

8. BSV: A lot will depend on the future actions of CSW. Very unpredictable coin.

9. USDT: Everything was going well for Tether until the scandal at Bitfinex was revealed to the public. Now a lot of the users don't consider this coin as a reliable stablecoin. In the near future it will be facing a lot of competition from the other stablecoins.

10. TRX: An overpriced shitcoin. I don't have anything good to say about this one.

think alot of alts wont rise this time , alot of money from alts going into btc now thanks to it rising 3x in some months, which is insane for the biggest crypto in the market to have those gains, so i understand why alts moving to btc , btc feels like a safer investment overall and it has good gains.

K21000

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Quote

Bitcoin dominance at this rate is not a healthy indicator for the market. It would be healthy to my eyes if I see a respective increase in altoins' prices instead f just bitcoin's.

Even if altcoin prices do go up there is a limit due to the amount of money going into alts drying up now. IPO/ICO projects launched in 2017 have begun to lose investor interest and we are starting to see that in stats with bitcoin beginning to regain its former greater dominance over the crypto ecosystem. In the next 12 months i would not be surprised to see bitcoin back at ~75% of total crypto market cap.

Just my take on things.

CryptoCraze11

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BTC always dominate the CC market, it's not something new. If BTC goes up ALT coins go up and vice versa. See price of Eth, for instance, it has gone up to to 300 USD from 83$, the reason is only BTC high price.

gentlemand

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Quote from: Naida_BR on June 25, 2019, 12:04:07 PM

I don't think that altcoins are overpriced as you said.
Bitcoin dominance at this rate is not a healthy indicator for the market. It would be healthy to my eyes if I see a respective increase in altoins' prices instead f just bitcoin's.

Why?

Almost all of them have achieved precisely fuck all since their peak a year and a half ago. No adoption, no use, nothing new. That's mainly down to the bear market of course but that still gives time to build and develop and not many have made use of that time.

An ever increasing amount of big money is sniffing around Bitcoin with more financial instruments arriving as well.

I could just about understand why people got excited about a few alts in the heat of 2017. In the cold light of 2019 why would you make the same bet again for most of them?

Naida_BR

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Quote from: Vishnu.Reang on June 25, 2019, 11:03:02 AM

According to the Coinmarketcap website, Bitcoin dominance has breached the 60% level and is now reported at 60.1%. Including the forked coins (BCH, BSV, BTG.etc), the total market cap for BTC+forks comes to slightly above 64%, while the altcoin market share has dipped below the 36% mark.

I am sure that a lot of users may be unhappy about this, but I am delighted as more than 90% of my crypto assets are in the form of BTC. I had sold most of my alt holdings in 2018.

I am not very sure about the reasons behind the rising BTC dominance. But I suspect that the users have become more matured now, and a lot of them have realized that investing in shitcoins is simply not worth all the risk.

Here is my outlook for the major cryptocurrencies:

1. BTC: The prices will continue to increase and a new ATH may be reached by the end of 2019 or by 2020. The dominance will continue to increase and may reach 70% by the end of this year. But one concern I have is regarding the transaction fee. It has risen by more than 10x since the start of the year. Another 10x increase would be catastrophic.

2. ETH: The exchange rates are still lagging behind the ATH. The poor health of the ICO market is probably pulling ETH down. The Cryptopia hack also played its part.

3. XRP: I would say that this one is the most worthless and unreliable altcoins among the top 10. Therefore I am not surprised by its falling market share.

4. BCH: Holding well as of now. In case the BTC transaction fee spikes again (like what we had during 2017 Dec), then this coin can rocket upwards.

5. LTC: One of the best performing alts. However I won't be surprised if a correction occurs post block reward halving.

6. EOS: I don't know much about this coin.

7. BNB: I would consider this coin as overpriced. A correction is due.

8. BSV: A lot will depend on the future actions of CSW. Very unpredictable coin.

9. USDT: Everything was going well for Tether until the scandal at Bitfinex was revealed to the public. Now a lot of the users don't consider this coin as a reliable stablecoin. In the near future it will be facing a lot of competition from the other stablecoins.

10. TRX: An overpriced shitcoin. I don't have anything good to say about this one.

I don't think that altcoins are overpriced as you said.
Bitcoin dominance at this rate is not a healthy indicator for the market. It would be healthy to my eyes if I see a respective increase in altoins' prices instead f just bitcoin's.

Topic: Bitcoin dominance hits 43%, alts surging ahead - page 26. (Read 7941 times)