Bitcoin Market Dominance going back up to 80%? Alts current Status?

wuvdoll

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Quote from: bbc.reporter on November 01, 2017, 07:51:23 PM

Quote from: Nathan047 on November 01, 2017, 11:03:24 AM

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

You are very right. If we really want to face it, most people already dumped their alts for btc before the first fork, so most alts did not really grow back any which way and this totally seem more like fresh and new investors coming in and which I totally believe will keep moving on like this till December.

Hence, it is just best to keep watching as the crypto world starts getting even more interesting in upcoming years.

StarofBTC

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Quote from: very_452001 on November 01, 2017, 07:20:52 PM

Few months ago mid June Bitcoin dominance was at 37% about to lose number 1 pole position I remember to Ether, crashed from 80% to 37% Shocked

Now you guys think it btc will go back up to 80% dominance? If so then I say don't buy Alts yet.

Honestly, this is just a wrong time to be holding alts or buying alts.
BTC has shown some pretty striking movement which a lot of alts will most definitely keep bleeding for a while. If BTC goes back to the dominance, then it is just best to stay out of alts.

Lots of investors are stepping in and the wall street guys and more are also about to step in, so it is just a good way to say bye to alts for now, or every chance of a pump you get, sell if you are still holding.

Nathan047

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Quote from: bbc.reporter on November 01, 2017, 07:51:23 PM

Quote from: Nathan047 on November 01, 2017, 11:03:24 AM

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

I never said that was the only reason why Bitcoin’s price rose, but it was defiantly one of the major reasons why it did rise in the past few weeks before the BCG fork happened.

Delicat

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Alts current status? dying or you can said it is corrected to the previous crazy high price. but next year should be the time for Alts to show their products and fulfilling meaningful roadmap that will create changes.

very_452001

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Yeah but what if the forks are not over meaning more forks throughout the life of bitcoin meaning progress interruptions for Alts?

nhote

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Quote from: bbc.reporter on November 01, 2017, 07:51:23 PM

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

spot on. which also means that even once the forks are over, alts may take a while before picking up again.

ROT13

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There are alot of people with alot of money in crypto who now stand to gain enormous profits from even a 20% retrace on altcoins, let alone something approaching all time highs. You're out of your mind if you don't think they will play alts off against bitcoin over and over while people are still dumb enough to panic they way they have been.

bbc.reporter

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Quote from: Nathan047 on November 01, 2017, 11:03:24 AM

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

I disagree. The fork is not the cause of bitcoin's price increase, or at least not the main cause. If you do not read the news, the CME group, which is a leading derivatives marketplace has plans ready to roll out bitcoin futures contracts by December of this year.

It might bring more Wall Street investment firms into bitcoin and maybe some of the known cryptocoins.

very_452001

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Merit: 270

Few months ago mid June Bitcoin dominance was at 37% about to lose number 1 pole position I remember to Ether, crashed from 80% to 37% Shocked

Now you guys think it btc will go back up to 80% dominance? If so then I say don't buy Alts yet.

jmlona

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Quote from: very_452001 on October 31, 2017, 02:32:22 PM

If btc market dominance goes up then automatically alts dominance go down correct?

Will we ever see another bullish run for the Alts like we already did in Spring/Early Summer and early september where alts reached all time highs? The 2 previous all time high dates for Alts are:

20th June 17
2nd Sep 17

The above dates, what can we learn from them and how do we apply this to the bitcoin gold and segwit2x forks?

Finally when do you guys think Alts will pass the $100billion market cap and claim some dominance from bitcoin or will alts crash or become lifeless dead?

I think it is inevitable that alts will regain ground and cut in to bitcoins dominance, it is 1 coin vs 1000+, long term it will be no contest and bitcoin will be lucky to remain above 10%

BitcoinGirl.Club

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Quote from: very_452001 on October 31, 2017, 02:32:22 PM

If btc market dominance goes up then automatically alts dominance go down correct?

Its not a directly proportional market when it comes to bitcoin and altcoins because some altcoins tend to ride the bitcoin wave but there is a 70% chance that alts kind of go down.

Quote from: very_452001 on October 31, 2017, 02:32:22 PM

Will we ever see another bullish run for the Alts like we already did in Spring/Early Summer and early september where alts reached all time highs?

The crypto economy is full of surprises, we just have to wait for it to happen but am certain that was not the first and last time it will be happening.

Quote

The 2 previous all time high dates for Alts are:

20th June 17
2nd Sep 17

The above dates, what can we learn from them and how do we apply this to the bitcoin gold and segwit2x forks?

Finally when do you guys think Alts will pass the $100billion market cap and claim some dominance from bitcoin or will alts crash or become lifeless dead?

To be honest, such dates have no influence on the crypto market but anything can happen on any given day and Alts breaching the $100billion market cap is a long way from home maybe a couple of years from now is possible and this won't write out bitcoin either.

rohitm

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The way I look at it, this is a good time to pick some altcoins at cheap prices. Once the fork happens and people sell their BTC, money will flow back into the altcoins.

European Central Bank

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Quote from: kryptqnick on November 01, 2017, 03:22:52 PM

I don't understand where you got 80% dominance, btw

because that's what it used to be and more until very, very recently? altcoiners should be aware that potential flippenings might look like a silly idea in the future. we'll have to sit back and see.

kryptqnick

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Quote from: very_452001 on October 31, 2017, 02:32:22 PM

If btc market dominance goes up then automatically alts dominance go down correct?

Will we ever see another bullish run for the Alts like we already did in Spring/Early Summer and early september where alts reached all time highs? The 2 previous all time high dates for Alts are:

20th June 17
2nd Sep 17

The above dates, what can we learn from them and how do we apply this to the bitcoin gold and segwit2x forks?

Finally when do you guys think Alts will pass the $100billion market cap and claim some dominance from bitcoin or will alts crash or become lifeless dead?

Yes, as the dominance is mostly formulated in percentage (like on coinmarketcap) if btc dominance is up then altcoins altogether are not that important. I remember this summer btc dominance was about 40% and it looked like btc will never have the 'control package' anymore, but it is almost 60% right now (I don't understand where you got 80% dominance, btw).
I think alts will have their up time in the future again, just like this May. I think alts will eventually dominate the market and it will happen in a year from now and not later, because their market constantly becomes bigger as new ones appear and we can see more sophisticated projects joining the party with time and in comparison to them btc is too.. clumsy, I guess.

European Central Bank

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alts fed off bitcoin's weakness. enough people were fooled into believing that bitcoin was dying to join in the pumps that were set up for them.

once the fork bullshit is over i believe seeding those doubts won't work again. alts are always going to be a force but they won't be as strong again.

the bitcoin etf failure kicked off the latest and most epic run. if the etf had passed alts would've been destroyed in march and eth wouldn't have gotten past $10. that tells us all we need to know about how bitcoin's strength affects alt values.

ghostunicorn

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Quote from: Nathan047 on November 01, 2017, 11:03:24 AM

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

It can't go up to 80%, but the rise of bitcoin already damaged all the altcoins and tokens very hardly. This negative effects will be maintained for long time I think and most of us can't survive with the result.

surfinonmyownwavebaby

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Quote from: BMG86 on November 01, 2017, 12:46:26 PM

At the pace bitcoin has been rising lately, it would not surprise me to see it's dominance level back at 90 percent.

I would be thoroughly surprised however. Not saying this cant happen but after the fork dont expect all the money to stay in BTC, especially if the forks are seen are worthless (*cough btcgold ahem cough* )

BMG86

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At the pace bitcoin has been rising lately, it would not surprise me to see it's dominance level back at 90 percent.

Nathan047

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Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

I reckon the forks have nothing to do with bitcoin reaching all time highs. The movement going up started happening on 2015 and has not shown any signals that it will stop.

When Bitcoin forks people sell their alts to buy Bitcoin in hopes for free coins, both increasing the value of Bitcoin (and thus increasing it’s market cap) and decreasing the value of the alts that were sold (thus decreasing their market cap). So yes, forks do increase Bitcoin’s market cap percentage, although the below statement of yours is still very correct:

Quote from: bbc.reporter on November 01, 2017, 12:51:19 AM

@very_452001. The problem with 99% of the altcoins is they are pumped and dumped by whales to make bitcoins. Some of us are here to ride along with them and try to make some bitcoins, while the rest lose bitcoins and become bagholders of scam altcoins.

rayk

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80% is too high, but I believe it can happen though. Why I believe that because people are fool and don't know anything, when a coin rises, they sell everything to buy it.

Topic: Bitcoin Market Dominance going back up to 80%? Alts current Status? (Read 949 times)