BITCOIN DOMINANCE, HOW FAR WILL IT BE?

coinplus

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Quote from: GymClassHeroes on August 11, 2018, 03:35:21 AM

This got me wondering, anytime there is a fall in market capitalization, we have an increasing bitcoin dominance, current sits at over 50 percent, what will happen if the ETF gets approved, are we going to have bitcoin draining the entire market,since the ETF is primarily a bitcoin thing at the moment, Is it going to be say 75 % bitcoin dominance for a market cap of 1 Trillion dollars? What do you think? Good or bad for the market?

There is literally not a single chance that bitcoin will be 75% in dominance, it is insane to think its even possible. For that to happen all the altcoins needs to drop insanely while the price of bitcoin goes high double or triple of it is right now. When bitcoin goes up really high people realize the money to be make on altcoins and they move on to smaller coins which causes the dominance to drop, hence if bitcoin goes up insanely high once again just like December than there will be coins that will follow bitcoin. Remember nano/iota/dash or so ?

cLook at their prices now. They will once again increase like crazy if bitcoin goes up, not because they are tied but because people see bitcoin increased too much and they missed out so they want to not miss this time and get in early on altcoins.

btcmaster999

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Though the market price for Bitcoin goes up and down that because it is not bitcoin dominance.And as long as the 100 million currency, the domination of the execution will have its useless characteristics with 100 billion coins.

EveningGull

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Prior to the introduction of Ethereum , there was more than 90% of Bitcoin's market. But Bitcoin is definitely able to come back. The ICO bubble is finally bursting and crypto people will be more careful about their investment and investment strategy.

Patriode

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As long as Bitcoin is popular, Bitcoin will continue to dominate and it is still dominant. However, when ETF is also important in Bitcoin, when ETF is approved, it also thinks that the market capitalization of 75% or more Bitcoin will be dominated.

BabyBoar

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i think bitcoin already dominate the crypto market. the ups and down price is not a matter. just wait till end of the year. hope then you will get your answer.

SwampRose

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ETF decision is the main factor .After this decision i believe bitcoin will come back on it's position. it just matter of time.

Rooster101

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Currently the dominance of bitcoin is more than 50% according to coinmarketcap and it will still possible to go up more if majority of the altcoins are still down. The dominace of bitcoin tend to decrease if the price of the altcoins go up but it still hold the majority of market shares. The ETF might also increase further the hold of bitcoin once it is approved.

IslandLady

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As per bitcoin get popular day by day i think the dominance of bitcoin will be increased soon.i think after this year we saw the result.

EveningRock

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I assume that the dominance of bitcoin will constantly rise and its popularity also increasing. I also think it will reach 75% when EFT is approve. I think more bitcoin dominant in future.

BitcoinMaster555

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if bitcoin get ETF approve it will more secure and profitable than before. it make profit and increasing reliability. it is committed to better service. its price will increase more than 70%. its future are more profitable and it will steable its price.

bitcoinhunter888

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If Bitcoin get ETF approval, it will do something good. More secure and potential than before. People's interest will increase and they will invest more. Bitcoin prices will increase and profit rates will increase.

Slow death

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Leading Crypto Sports Betting & Casino Platform

Quote from: GymClassHeroes on August 11, 2018, 03:35:21 AM

what will happen if the ETF gets approved, are we going to have bitcoin draining the entire market,since the ETF is primarily a bitcoin thing at the moment, Is it going to be say 75 % bitcoin dominance for a market cap of 1 Trillion dollars?

we are seeing a dominance of 51.6% and with a possible approval of ETF we can see a dominance of more than 60%, this because at the moment the altcoins have been very inuteis and without practical use, whereas the bitcoin has the ETF and still has Bakkt , but the altcoins have nothing. So people are seeing a great opportunity to make profits, they sell their altcoins and buy bitcoin and make profits if the ETFs are approved and then go back to the altcoins. In short, bitcoin's domain will slow down after this storm. always is so, it has become a cycle

Quote from: GymClassHeroes on August 11, 2018, 03:35:21 AM

What do you think?

Do not worry, because once people have profits with bitcoin, they go back to altcoins and the dominance of bitcoin is reduced

Quote from: GymClassHeroes on August 11, 2018, 03:35:21 AM

Good or bad for the market?

I do not know

Quote from: redrose8226 on August 17, 2018, 12:05:11 PM

I think if the ETF gets approved then the dominance of the bitcoin will be more than 80%.

I think it's too exaggerated

easybtcearn07

newbie

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well I can see that everyone is being very concerned and curious about the crypto dominance,still this thing is quite complicated and new for the users that is why it takes time to adjust with it but hopefully it will be changed soon

butterfly8226

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I think BTC will dominate the crypto market for long time. The percentage may go from one point to another but BTC will still be dominating as people are now more interested to own it than the other cryptocurrencies.

valentinen39

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Quote from: sidneycrypto6 on August 17, 2018, 12:35:02 PM

The current situation is low of not only bitcoin but also other crypto coins. Current dominance of bitcoin is 50.77% in the market. I hope it'll go high with the dominance. There is a doubt for other small crypto coins.

Bitcoins will probably increase even more in the next few months because the demand in the market will start to increase again and that is the main reason why we should hold our coins today.

Billgates710

newbie

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Dominance may go higher than this if ETF gets approval from SEC. This will make BTC more reliable currency. Despite where BTC standing now, it is still draining people from other currencies towards it.

BlackandRed654

newbie

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I think there is both good and bad side regarding this bitcoin dominance. Many companies might be interested to invest in BTC. On the other hand, numbers of ICOs, projects that offer something good can’t come to spot light.

listoncrypto

newbie

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Well it seems that the market is having a great impact due the speculations of ETF getting approved. But I think it will increase the control of big groups of investors on the crypto market

cellard

legendary

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I believe the real Bitcoin dominance right is is somewhere around 70%. Given the fact that in coinmarketcap (which is just a wrong way to measure the dominance of Bitcoin in cryptocurrencies as a whole) is already past 50%, it's safe to add a good +20% extra to that figure at any rate.

See this article by whalepanda on why the coinmarketcap indicator for BTC dominance is totally fucked up, easy to understand:

https://medium.com/bitcoinfoundation/the-bitcoin-dominance-indicator-fallacy-2b11093869d4

electrobit8024

newbie

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I think the rise of the crypto market coming soon. After ETF getting approved it will surely increase market dominance and thus we all will be benefitted in the long run

Topic: BITCOIN DOMINANCE, HOW FAR WILL IT BE? (Read 614 times)