Bitcoin dominance reach below 50% but back to over 50% in no time - page 2.

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Quote from: Oshosondy on April 25, 2021, 03:47:56 PM

But I am thinking it is possible the decrease in dominance just like 2018 (below 50%) is indicating another bear market like that of 2018 gradually setting in. What is your opinion about this? Though bitcoin price can not fall below certain range even if it decreased.

remember the current situation is very different when compared to the 2018 bear market. at the moment there are many institutional investors and they have large funds. I'm sure they won't stand around watching their portfolios evaporate just because of the bear market. they definitely prefer to maintain the trend in order to make a profit. and maybe this is one of their plans to be able to buy bitcoin cheaper.

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Quote from: Oshosondy on April 25, 2021, 03:47:56 PM

But I am thinking it is possible the decrease in dominance just like 2018 (below 50%) is indicating another bear market like that of 2018 gradually setting in. What is your opinion about this? Though bitcoin price can not fall below certain range even if it decreased.

The market crash or bear maekwt doesn't happen immediately. Usually the Bitcoin price first drops while the altcoin price keep pumping for a couple of months and this leads to the drop in Bitcoin dominance. Whether the Bitcoin price rises or not immediately after the drop in dominance is another story.

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This reminds me of the 2017 bull market a lot. In late 2017 BTC rose so much, then it started lose its market cap to alts and the markets crashed completely later on. Right now we are having the alt pump (or we were) and if the history repeats, it means the full market crash is near.

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According to coingecko; Bitcoin's dominance is at about 48.8% at the time of typing this reply.
Dominance of a coin is based of the market cap, and I would not use that as an accurate metric for determining market movements, coins can easily manipulate their supply or price, which would affect the market cap, and subsequently affect that of Bitcoin.

Quote from: Oshosondy on April 25, 2021, 03:47:56 PM

But I am thinking it is possible the decrease in dominance just like 2018 (below 50%) is indicating another bear market like that of 2018 gradually setting in. What is your opinion about this? Though bitcoin price can not fall below certain range even if it decreased.

I personally do not think the current bullrun is over, and even if it is, we will not experience a bear market like that of 2018, the Bitcoin space has changed a lot from then.

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Bitcoin marketcap dominance was lower than 50% last week according to Coinmarketcap, but not long when it increased back above 70%, according to the news I read, the bitcoin dominance at the start of this years was 70.68%, but decreased to 49.35% last week Thursday. The last time bitcoin dominance was below 50% was in January 2018. 2018 was the worst year for bitcoin ever as its price decreased below what many people could expect. The price has increased significantly some days before 2020 halving and continue to increase till this month of April.

But I am thinking it is possible the decrease in dominance just like 2018 (below 50%) is indicating another bear market like that of 2018 gradually setting in. What is your opinion about this? Though bitcoin price can not fall below certain range even if it decreased.

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