Topic: Bitcoin dominance hits 43%, alts surging ahead - page 5. (Read 7929 times)

Latest stats from 27th June 2021.

Total market cap: $1,313,971,254,297 (-7.34%)

Bitcoin: $618,141,191,929 (47.044%)
Bitcoin forks: $12,298,031,091 (0.936%)
Stablecoins: $108,399,057,679 (8.250%)
Altcoins: $568,827,733,064 (43.291%)
WBTC: $6,305,240,534 (0.480%)

This is the change compared to my last post:

Bitcoin: +2.015%
Bitcoin forks: -0.047%
Stablecoins: +0.741%
Altcoins: -2.730%
WBTC: +0.020%

Latest stats from 20th June 2021.

Total market cap: $1,418,123,981,693 (-6.24%)

Bitcoin: $638,556,542,054 (45.028%)
Bitcoin forks: $13,941,983,550 (0.983%)
Stablecoins: $106,480,436,762 (7.509%)
Altcoins: $652,624,778,778 (46.020%)
WBTC: $6,520,240,549 (0.460%)

This is the change compared to my last post:

Bitcoin: +0.580%
Bitcoin forks: -0.018%
Stablecoins: +0.494%
Altcoins: -1.067%
WBTC: +0.011%

Latest stats from 13th June 2021.

Total market cap: $1,512,460,203,738 (-8.13%)

Bitcoin: $672,261,334,639 (44.448%)
Bitcoin forks: $15,144,231,844 (1.001%)
Stablecoins: $106,088,987,188 (7.014%)
Altcoins: $712,183,635,015 (47.088%)
WBTC: $6,782,015,052 (0.448%)

This is the change compared to my last post:

Bitcoin: +3.280%
Bitcoin forks: -0.043%
Stablecoins: +0.644%
Altcoins: -3.916%
WBTC: +0.035%

Latest stats from 6th June 2021.

Total market cap: $1,646,293,457,934 (+7.06%)

Bitcoin: $677,753,118,606 (41.168%)
Bitcoin forks: $17,185,098,647 (1.044%
Stablecoins: $104,875,452,440 (6.370%)
Altcoins: $839,677,227,792 (51.004%)
WBTC: $6,802,560,449 (0.413%)

This is the change compared to my last post:

Bitcoin: -2.182%
Bitcoin forks: -0.065%
Stablecoins: -0.307%
Altcoins: +2.572%
WBTC: -0.018%

Here are the latest stats from 30th May 2021.

Total market cap: $1,537,727,730,983 (+16.13%)

Bitcoin: $666,613,448,105 (43.351%)
Bitcoin forks: $17,056,596,971 (1.109%)
Stablecoins: $102,673,943,341 (6.677%)
Altcoins: $744,754,553,385 (48.432%)
WBTC: $6,629,189,181 (0.431%)

This is the change compared to my last post:

Bitcoin: -3.739%
Bitcoin forks: +0.067%
Stablecoins: -0.295%
Altcoins: +3.990%
WBTC: -0.023%

I don't see much reduction in the altcoin market share. During the last 6-7 months, Bitcoin dominance was continuously declining, from 70%+ to less than 40%. The last time I checked it was 45.7%, and the small increase was due to the current correction phase. This means that the overall trend remains in favor of the altcoins. Once the prices stabilize, then I expect the altcoins to further increase their market share. All that said, this is not looking good for the cryptocurrency sector. Shitcoins such as Doge and XRP have amassed market capitalizations close to $50 billion. Their fair value should be less than $1 billion.  

that is good news though because the altcoin market was in serious need of a purge like this. the altcoins have been pumped big time during the time bitcoin price was stable and higher than this. the traders had to cash out their profit from the altcoins they were holding after the pumps ended and bitcoin drop gave them that nudge.

Just one word - bloodbath!

Here are the latest stats from 23rd May 2021.

Total market cap: $1,324,130,409,786 (-41.74%)

Bitcoin: $623,526,428,661 (47.090%)
Bitcoin forks: $13,797,728,138 (1.042%)
Stablecoins: $92,312,904,236 (6.972%)
Altcoins: $588,476,218,495 (44.442%)
WBTC: $6,017,130,256 (0.454%)

This is the change compared to my last post:

Bitcoin: +6.997%
Bitcoin forks: -0.351%
Stablecoins: +2.985%
Altcoins: -9.707%
WBTC: +0.077%

Large scale dumping is going on, but surprisingly the Bitcoin market share hasn't changed. Now the Bitcoin dominance stands at 39.9%, which is the lowest level we ever had in the last 3 years or so. I strongly suspect that if someone is selling their shitcoins, then they are selling it for either fiat cash or stablecoins. Because the fund outflow is not going towards BTC. Among the top coins, only ADA, XRP and DOT have increased their market share during the last few days.

once again there is blood on the streets as bitcoin dropped and altcoins started bleeding hard. i saw some coins that got dumped 60% today alone.

the amount of money exiting the altcoin market is ridiculous, i mean we see all these people on bitcointalk and reddit who keep praising certain altcoins and make sure claims about their future (even though the said altcoin is a clear shitcoin) but the very same people dump that altcoin hard the moment they see bitcoin price is changing!
if you believed in that shitcoin then why did you dump it this hard? and why are you buying bitcoin?!

^^^  Well.. I remember what happened in 2017. At one point, Ethereum was at 33% and Bitcoin was at 37% (it has been 4 years... very difficult to remember everything accurately now). However, if I remember correctly, at that time Bitcoin was severely weakened by the BCH hard fork. A lot of people were expecting that BCH would be having a value of around 1/5th of that of Bitcoin, but after the first day's trade ended it had a price of BTC0.04 per coin.

BTW, I am not a big fan of altcoins and I hate most of them. But still I have some reluctance before I label Ethereum as a shitcoin. I would happily call Dogecoin a shitcoin, but I would think twice before using that term to describe Ethereum. I believe that Ethereum had some innovation associated with it, unlike coins such as Doge. ETH was the first smart contract platform. So it brought something new to the cryptocurrency market, although the basics are 99% similar to Bitcoin.  

I did mean BNB in terms of asking you where it fit in your categorizations.

You might be correct that it becomes a bit too complicated in terms of creating justifications for separating out Ethereum but not separating out some other shitcoins.  I would think that there have been 4 years or more that ethereum has been referred to as the ONLY shitcoin worthy of investment because of its networking effects of having a multitude of scams built upon it, but even that might be a bit of a moving target too.. so, personally, I do not really care too much if you were to separate ethereum out or just leave your references as is...

In recent times, ethereum has gotten up to .08-ish of a bitcoin.. and as I type it is around .076, and even with that, we have largely seen ethereum grow in price (relative to bitcoin) in the past year or more but with very steep uptrend in the past month or less, so surely we have been hearing nonsense about the impending flippening which would increase, in the event that ethereum continues to increase in price relative to bitcoin (if that is even feasible?).  Of course, in the 2017 flippening hysteria, we ended up witnessing around a .115 peak of the etherum to  BTC price and it was getting close to flippening bitcoin, at least temporarily, so whether or not flippening actually ends up happening - and we know anything remains possible in these here parts, there are probably a decent number of peeps (especially ethheads) who are concerned about that metric that I largely consider to be lacking in relevance, even though I expect that it could become a talking point in the near future if either ethereum is able to sustain its current price relative to bitcoin or if it were to continue to rise in price relative to bitcoin.

So, maybe I am sorry to have raised the topic, even though that is kind of the rationale behind my having had brought it up.

I have only included coins such as USDT and Pax USD in the stable coin category, as these coins are pegged to the US Dollar. BNB is included in the altcoin category (or are you talking about the BUSD? Binance USD is included within the stable coin category). I need to think about making a separate category for Ethereum, but there are a number of very similar altcoins out there (Ethereum Classic for example, and other smart contract platforms). What can be the justification for not including them in the new category?

To me, it seems a better descriptor to use the word "shit" rather than altcoin.. otherwise some potentially innocent peeps might be mislead into believing that there might be some value in those various non-bitcoin projects.

By the way @bryant.coleman, quite frequently I am getting into battles with various other members who become quite adamant in their beliefs that CMC has some kind of considerable meaning - and I really downplay the importance of it (I am not the only person with this idea), so I probably should not be the one bringing this up.  I am wondering if Ethereum (kind of the shitcoins) were to be separated out of the altcoin category of your list.  I know that it becomes more complicated, so maybe I would regret even answering. Of course, these last couple of weeks Doge has gotten a lot of appreciation, so maybe it can be a bit complicated to separate out any particular coin, such as ETH.  There was also a lot of appreciation of BNB in recent times, and is BNB in the Alt category rather than the stable coin category, right?

Here are the latest stats from 16th May 2021.

Total market cap: $2,272,647,036,479 (-6.38%)

Bitcoin: $911,168,938,459 (40.093%)
Bitcoin forks: $31,662,172,922 (1.393%)
Stablecoins: $90,604,057,460 (3.987%)
Altcoins: $1,230,628,143,050 (54.150%)
WBTC: $8,583,724,588 (0.378%)

This is the change compared to my last post:

Bitcoin: -4.346%
Bitcoin forks: -0.056%
Stablecoins: +0.397%
Altcoins: +4.036%
WBTC: -0.031%

Here are the latest stats from 9th May 2021.

Total market cap: $2,427,591,552,369 (+10.10%)

Bitcoin: $1,078,790,197,908 (44.439%)
Bitcoin forks: $35,180,575,798 (1.449%)
Stablecoins: $87,140,720,676 (3.590%)
Altcoins: $1,216,563,567,704 (50.114%)
WBTC: $9,916,490,283 (0.408%)

This is the change compared to my last post:

Bitcoin: -3.551%
Bitcoin forks: +0.247%
Stablecoins: -0.083%
Altcoins: +3.398%
WBTC: -0.010%

I don’t know why there are so many words "shit" in your post 
I wrote my thoughts on the topic and I did not discuss the base, as it seems to me my assumptions are quite logical (investors and the public do not care about the ideology). Maybe everyone will be sad if shit comes first, but it's quite realistic and even logical - look at the tops on YouTube, music charts, etc. the audience loves shit 

hahahahaha

You do sound distracted.

Actually, I largely agree with you that ethereum and maybe other shitcoins could end up surpassing bitcoin, and even if you want to focus on ethereum specifically (as if there were actually some there there), sure I can concede that it could pump beyond bitcoin or even become double bitcoin's share, but I am not going to concede that to have much if any significance in terms of making it foundations stronger, at least in terms of where ethereum happens to be at currently and the fact that it is a piece of shit that is used as a vehicle to support various other pieces of shit.  Sure, I cannot have much certainty where any of this might end up going, but it goes to show you that market cap should be taken with a considerable grain of salt if you are concerned about actual value investing and DOWNside risks that could happen anytime with a project such as ethereum that is built on shit with little likelihood of improvement beyond making more dog and pony shows and also having other shit that is built upon it that could also bring it down in a variety of ways, but hey keep investing in that crap and/or based on momentum that you believe will continue and could stop on you (or is the term get rug pulled?) at any time with no there there.

Another analysis point does involve how strong bitcoin happens to be, and so many of these shitcoins, including ethereum or whatever other shitcoin that you want to attempt to analyze, would have little to no value were bitcoin NOT as strong as it is.  Yeah, I have heard a lot of deluded speculation that a variety of shitcoins, including ethereum would be just fine without bitcoin - which you really should be doing a double take for anyone who actually has drunk the koolaide so much as to believe that shit (including yourself, KTChampions, if you happen to believe that nonsense - and based on the seeming delusional conclusion of your post in terms of what significance you put on a potential ethereum flippening, if it were to happen, I suspect you might believe that ).

I do not think that small coins have a serious impact on the share of bitcoin in the market, too different scale and even a lot of small coins cannot change something here. The main influence is made by coins from the top 10 or top 100. And we must look at the ETH separately - it is confidently moving towards its historical maximums relative to bitcoin and I am already beginning to believe that it will surpass them. I think such an event will revolutionize the minds of investors and this may have a further impact on the share of bitcoin in the market.

You got it right!

Trying to look at to the volume then you can see that most of those top altcoins did really get the big part on why dominance had been dropping but is this something a solid indication that Bitcoin could flip out?

No its not and im wondering on why majority been keen on eyeing about dominance as if its a solid indication but basing off with simple observation then you can tell about the switch up
which you can really take advantage if you do know on how to play with the current trend.

This had been a typical scenario on where there are really times where Bitcoin and alts have these common behavior because there's always an altcoin run on particular stage of time.