I'm not too worried about it. Aside from what has already been mentioned, you have to think that we measure the dominance of Bitcoin versus the rest of all the shitcoins. I'm not worried about the best coin losing dominance relative to 10,000 shitcoins.
In the past there was a battle with Ethereum, even very early in the fork with Shitcoin Cash it was also possible to doubt whether it would lose dominance against it. So, I might worry if I see that there is a quality coin that can give the battle to Bitcoin but about the dominance with respect to almost 10,000 shitcoins.
Topic: Bitcoin is still hot but Bitcoin Dominance is dropping. What does it tell? - page 2. (Read 248 times)
April 05, 2021, 06:09:11 AM
April 05, 2021, 05:44:42 AM
Bitcoin price is constantly reaching high but Bitcoin Dominance is dropping.
I guess there are more and more fiats that are converted into cryptocurrencies but most of it are flowing into altcoins.~ Does this indicate that more and more people are interested in altcoins rather than only investing in Bitcoin?
Risk takers are chasing x5's and x10's altcoins from different blockchains like Ethereum, Binance Smart Chain and Polkadot. You can take a look at how the TVL's (Total Value Lock) in each chain have grown over the past months. You can also add how many people are buying NFTs into the mix.Most of the altcoins is still dumping despite of the decreasing value of Bitcoin Dominance same as Bitcoin value as well. I believe most of the traders is converting to stablecoin rather than altcoins since there is no clear sign for Altcoin season. Altcoin season is when the majority of the coin is pumping though.
Just my speculation on where the funds flowing right now. I know some coin is pumping like crazy but its not sufficient to cover all the money losing on Bitcoin Dominance.
April 05, 2021, 05:40:20 AM
I think that Bttzed03 explained the situation quite well, because a large part of investors currently consider BTC too expensive and looking for alternatives that can bring them much more significant profits in the short term. I would not worry too much that BTC is losing its dominance, so it was in the past where we can see that this factor was even close to 30% in January 2018.
The whole thing just proves once again that most of those involved in crypto are not reluctant to invest in any coin, it is important that there is a chance of the highest possible return on investment in the shortest possible time. No one can say that someone is stupid for buying a certain altcoin in early 2017 for only $8, and that same one is worth over $2000 today.
The whole thing just proves once again that most of those involved in crypto are not reluctant to invest in any coin, it is important that there is a chance of the highest possible return on investment in the shortest possible time. No one can say that someone is stupid for buying a certain altcoin in early 2017 for only $8, and that same one is worth over $2000 today.
What if btc could reach new ATH again, will bitcoin dominance increase again? Because many are saying $70k is possible this month. Most people like me that who only have small amount to invest prefer altcoins because a 50% gain is very easy. If bitcoin dominance starts increasing again because of new ATH then this will not be good for altcoins. Many are saying it is altseason now but they are contradicting it with bitcoin being $70k. I don't think both situation can happen.
April 05, 2021, 04:47:55 AM
I think that Bttzed03 explained the situation quite well, because a large part of investors currently consider BTC too expensive and looking for alternatives that can bring them much more significant profits in the short term. I would not worry too much that BTC is losing its dominance, so it was in the past where we can see that this factor was even close to 30% in January 2018.
The whole thing just proves once again that most of those involved in crypto are not reluctant to invest in any coin, it is important that there is a chance of the highest possible return on investment in the shortest possible time. No one can say that someone is stupid for buying a certain altcoin in early 2017 for only $8, and that same one is worth over $2000 today.
The whole thing just proves once again that most of those involved in crypto are not reluctant to invest in any coin, it is important that there is a chance of the highest possible return on investment in the shortest possible time. No one can say that someone is stupid for buying a certain altcoin in early 2017 for only $8, and that same one is worth over $2000 today.
April 05, 2021, 04:35:02 AM
Bitcoin price is constantly reaching high but Bitcoin Dominance is dropping.
The reason that the dominance is dropping might be because people are scared that at the current price of bitcoin, it might collapse like what happened in 2017 so they are trying to diversify their portfolio so as to evenly spread the risk and continue profiting even if one of them is going down.Does this indicate that more and more people are interested in altcoins rather than only investing in Bitcoin?
Maybe that could be the case or that they find the price of bitcoin too expensive so they choose different cryptocurrency to get more out of their initial capital. 
April 05, 2021, 04:09:55 AM
Bitcoin price is constantly reaching high but Bitcoin Dominance is dropping.
I guess there are more and more fiats that are converted into cryptocurrencies but most of it are flowing into altcoins.~ Does this indicate that more and more people are interested in altcoins rather than only investing in Bitcoin?
Risk takers are chasing x5's and x10's altcoins from different blockchains like Ethereum, Binance Smart Chain and Polkadot. You can take a look at how the TVL's (Total Value Lock) in each chain have grown over the past months. You can also add how many people are buying NFTs into the mix. April 05, 2021, 03:19:33 AM
Bitcoin is still our everyday issue around the world, not only it is an investment but it is also going into our daily life.
Bitcoin price is constantly reaching high but Bitcoin Dominance is dropping.
Does this indicate that more and more people are interested in altcoins rather than only investing in Bitcoin?
https://i.imgur.com/TDO2q9s.png
Bitcoin price is constantly reaching high but Bitcoin Dominance is dropping.
Does this indicate that more and more people are interested in altcoins rather than only investing in Bitcoin?
https://i.imgur.com/TDO2q9s.png
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