Topic: Bitcoin dominance hits 43%, alts surging ahead - page 27. (Read 7929 times)
im stucked at alts as well, i lost %60 of my protfolio. but this is not a good time to leave now.im telling that because if someone think about it, its not a wise choice.i dont think alts going down more. my opinion at least.
The reason for the alt explosion which started ETH's journey from $10 to over $1000 was the first denial of the Winklevoss ETF. It was a relief rally that Bitcoin wasn't going to be legitimised over and above alts and it set off pretty much the exact second the decision was announced. Obviously it spiralled out of control from there.
What we're going to see this time around is Bitcoin's proper separation from alts. There are many fancy arse plans and very, very few of them have any place for alts in them.
I've no doubt alts will pump because they're 'cheaper' but perhaps the days of true alt madness aren't going to come back in the same proportions. Big willy money will pump BTC. That leaves peons to play with alts. The gains will be impressive no doubt but may not match previous expectations.
There's no ICO hook this time around either. Am curious to see how it plays out.
What we're going to see this time around is Bitcoin's proper separation from alts. There are many fancy arse plans and very, very few of them have any place for alts in them.
I've no doubt alts will pump because they're 'cheaper' but perhaps the days of true alt madness aren't going to come back in the same proportions. Big willy money will pump BTC. That leaves peons to play with alts. The gains will be impressive no doubt but may not match previous expectations.
There's no ICO hook this time around either. Am curious to see how it plays out.
I wonder if current Bitcoin dominance has to do with newcomers in general finally catching up with what a shitshow the majority of the alt coin market is. Back when the 2017 bullrun was in full swing it was like everybody and their dog had found out what the next Bitcoin would be and poured their money into whatever alt coin was the flavour of the day. Maybe this has changed by now.
But... I'm not fully convinced of this. I guess most people that are currently buying coins and trading are the ones that have followed the market since the last bullrun and thus by now know the treacherous reality of the alt coin market (ie. the newcomers of 2017 are the veterans of today).
I don't think the general public is yet aware of cryptos reawakening.
In other words, the n00bs are yet to come and the alts are yet to be pumped. I guess when BTC breaks USD 30k,- the latest (if it breaks USD 30k,- any time soon) we'll have a new influx of newbies that will fall for whatever alt looks the shiniest and drive Bitcoin dominance down again.
But... I'm not fully convinced of this. I guess most people that are currently buying coins and trading are the ones that have followed the market since the last bullrun and thus by now know the treacherous reality of the alt coin market (ie. the newcomers of 2017 are the veterans of today).
I don't think the general public is yet aware of cryptos reawakening.
In other words, the n00bs are yet to come and the alts are yet to be pumped. I guess when BTC breaks USD 30k,- the latest (if it breaks USD 30k,- any time soon) we'll have a new influx of newbies that will fall for whatever alt looks the shiniest and drive Bitcoin dominance down again.
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.
According to the Coinmarketcap website, Bitcoin dominance has breached the 71% level and is now reported at 71.2%. Including the forked coins (BCH, BSV, BTG.etc), the total market cap for BTC+forks comes to slightly above 74%, while the altcoin market share has dipped below the 24% 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 80% 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 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 80% 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.
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