Topic: Bitcoin marketshare continues to drop (Read 441 times)

They have been for a long time too. One can also argue that the larger crypto institutions get, and non crypto ones get into the industry, the more direct and indirect attention Bitcoin will get. Someone new to crypto will see ad like that and think, let me do some research on the crypto thingy, boom, Bitcoin pops up in the first search.
Anyone blindly buying anything without doing research will not help the long term price growth of any currency and are not big losses.

Firstly, do you consider this to be reflected in the price movement of Bitcoin? Bitcoin actually is higher at this stage that it had been in previous cycles.

Below is an example of what I am talking about: would-be Bitcoin investors are now bombarded with apps that divert them to non-Bitcoin digital currencies.

The one below trades you out of Bitcoin with a single push of a button.

This is not like last time, people. Bitcoin now competes for the same investor dollars with hundreds of other very good options. The market is changing, and the old patterns no longer apply.

During the bear market, people tend to sell Bitcoin less than they sell other coins, and Bitcoin dominance grows. When there's a bull market, Bitcoin is growing, people out of FOMO and excitement people also try their luck with other coins, so the dominance can drop somewhat. It's not a perfect correlation, but I think it's true overall. Right now, Bitcoin is on the rise, and it makes sense for the market dominance to drop somewhat. That being said, it's still very high, and no coins is anywhere near challenging BTC dominance. I think it will stay this way in the future, and the current decrease is a mere fluctuation.

2025 is the year of the bull to push and warm things up.
Just wait and be patient, indeed 

So we completely agree. Great.

(Why do I have a feeling that this actually going to disappoint this poster ).

i give people many chances in a polite manner, until they show their ignorance and their real agenda.. then i dont hold back
even you know, out of the many thousands of members here, i only show my negative feelings to only a few dozen known ignorant people
i dont need to be polite to the ignorant nor fear calling them out as such
if they dont like being called it, they need to look at themselves and realise why, and then improve themselves to avoid being ignorant

if only those people didnt talk ignorantly then there would not be a issue
dont treat the ignorant troll as the victim to then pretend im the troll..
he is the one that refuses to learn about bitcoin, even though he is on a bitcoin forum that discusses topics of bitcoin

its like an idiot that goes to a car website but refuses to learn to drive nor learn anything about how cars work.. but still then wants to talk about how he thinks cars are valued and sold and used and made and, etc..
.. people with car knowledge would call him out on it

if you want to kiss, admire, love and adore ignorant people (that have had ample opportunities and been given good advice numerous times politely previously) .. thats on you

Franky, Bitcoin just crossed $100k and you're still all uppity, trollish and upset... Why do you feel the need to be so insulting and demeaning all the time? Give it a break for like 10 minutes. You'd be a much more effective "educator" if you could simply talk to people they way you would want to be talked to.

you are wrong again
i did not, nor ever have said it must appreciate in value forever because there is a limited supply.
you are the one fixated on rants about supply and demand where you have notions about the 21m limit and the market cap of such
 
i have in many topics told you that the 21m btc supply has nothing to do with how much is actively on the exchange market orderbooks
and its the market order books active orders that actually control the price.. not the 21m coin limit

lets explain something else (seeing as you used a 'limited acre' example
for instance you cant cut a house in half but you can cut btc into 100,000,000 parts
meaning if there was a market of only $100 and 1btc being deposited each day. this does not mean the price is fixed at 1btc=$100
you do know people in 2013 traded 1btc for $100 when there was different amounts of $ and btc deposited. and now in late 2024 trade 0.001 for $100
yep people dont need to buy whole btc and then that $ is not kept in some vault..
..please learn some economics
oh and by the way, people dont assess real estate land by the acre anymore.. they now value real estate by the square foot
and if you look over the last few hundred years, land prices have been on a increase(in any measure(acre or foot))

secondly you think that if the price appreciates to say $10m/btc, it is YOU that stupidly thinks that there needs to be trillions of dollars held somewhere, more than exist in the real world($210trill)
again the market cap number is meaningless there is not trillions of dollars held anywhere to represent the market cap
the market cap number is meaningless

the market price is not controlled or effected by the 21m coin. nor needing whole btc to sell..

please learn economics, learn how economics works, then learn bitcoin, learn how bitcoin works then learn about bitcoin economics

..
lets use your "limited acre" analogy again

if there is a property selling for $100k per 871squarefoot
thus with gardens drives and connecting roads call it about 150 properties per acre ($15m/acre)

where there is 4.62billion usable acres of land where by 2billion acres can be used for property

YOU would be the fool that would think that the real estate economy has a need to at some point in distant future store/lockup
$30,000,000,000,000,000 ($30quadrillion)

yet reality is the real estate market doesnt care nor need to think about nor need $30quad
instead all it cares about is the local 'comps' of homes that are currently valued at $100k per ~800-900squarefoot

where by in the past many decades thats same property was worth just $10k and in future will be worth more than $200k
and non of this has anything to do with total acre on planet limit and total market cap

..
and one last thing, YOU think bitcoin is based on speculation (see definition) because its YOU that does not have the knowledge
other people know economics and bitcoin and know how things work to know that bitcoin is not randomly whimsical and just made up in its economic value process
there is actual underlying things behind it beyond your understanding

altcoins get rise of increment through bitcoin so therefore I believe that if bitcoin no increases altcoins will not increase, bitcoins can increase at any point but altcoins can not increase like altcoins so I don't know how possible that altcoins can do without bitcoin, altcoins can not do without bitcoin experiencing in the market, so I believe that altcoins can existence when bitcoin is not on positive side..I know quite well that it's altcoins that gives money when you invest on it and it happens to do well for the investment.

(I'll try to work past your personal attacks--maybe try to calm down and just discuss things rationally?)

You keep saying Bitcoin absolutely must appreciate in value forever because there is a limited supply. But there is a finite number of acres of land on the earth and yet real estate doesn't go to infinity--and there are a million other examples of things with limited supply that are also worth little or nothing on the open market. Supply--in either direction--does not generate demand, and you need both for the market price to go up in value.

You also keep saying that Bitcoin absolutely must have a price floor since the cost of creating a Bitcoin is X dollars. That too is meaningless if there is no demand for said commodity. Again, millions of example of things that cost a lot to produce, and yet nobody wants. You can buy a 50 million dollar supercomputer from 1995 today for about 50 bucks--even though it cost millions to make.

What you are looking for here--and you won't find with Bitcoin--is objective value. Many things have objective value, which is something that physically makes somebody's life better, like a house, or a car, or good food, or an entertaining movie. Things that save people discomfort, like treatments, medicine, assistance, etc. make people's lives better have objective value. Software and computer systems that reduce costs or improves people's comfort has objective value, as does software that reduces the cost of things people do in order to obtain other objective values.

There are some items that are desirable, and might seem non-objective like diamonds, luxury goods, well-known brands, and so on, but these impart value to humans in the form of greater social standing, and so forth. Indeed, anything one can "show off" that enhances their social standing in a way that you desire is objectively valuable to that person.

Speculative instruments like Bitcoin, sports betting, memecoins, NFTs, or things derived from those things have no objective value. That doesn't mean that people won't desire them--and perhaps even a lot--but they are non-objective, and thus derive their value solely from the desire of others as an end in itself. While things like this might be tradable for things with objective value, they are not themselves that--which is why such things do not have any sort of inherent price floor: their value could go to zero if people simply stopped desiring the item.

As I implied in the OP, Bitcoin is not functionally different than many other things like it you can buy today--the only difference is the number of people who happen to desire it right now. That demand might go up, or it might go down--but there is absolutely no metaphysical case to be made that it will necessarily do either one.

you have no clue about economics at all
i and others tried to help educate you ages ago but your ignorance showed you dont care about learning

but for other readers who do care
bitcoin has a mining function to secure bitcoin thats rewarded, the security requires effort in the form of electronic work called proof of work, which costs real money (electric+devices)
around the world there is a range of costs for this mining process where the cheapest most efficient value of mining costs about $60k/btc
meaning because its the most cheapest method to acquire bitcoin no one wants to sell for less and so it creates a "bottom" support that no one wants to go below

on the flip side the most expensive premium mining cost is in excess of $300k, by which many countries with higher mining costs bove $100k to $300k would be happy to buy from the market at a discount compared to mining
however when the market reaches the tips of its speculative range where everyone on the planet could mine for less than the market. then the market bids dry up and the market reaches its peak ATH for the period

..
so bitcoin does have many economic factors beyond the ignorant thoughts of legiteums narrow vision of high school economics

..
in short bitcoin have a healthy real economic market window of speculation between $60k-$330k right now
yes it can play around at any price between those numbers but there is strong support and real economic reasons to keep the price within those boundaries right now

..
personal message to legiteum
take a hard dose of respect for yourself and educate yourself. stop wasting your ignorance making the same ignorant posts and use that time to educate yourself, for your own benefit.. stop relying on the lapse of education which stopped at highschool.. always be willing to learn

Why would they get disappointed? Remember that the only thing that drives the price of most digital currencies these days is... other people buying it. So if the price of these instruments goes up, more people will buy them.

Bitcoin's appreciation in price is the only useful feature it has--but that's circular reasoning.  That's not to say it may not still go up, but there's nothing to stop it from going down, either.

We have a saying in Croatian that loosely translated goes something like "if grandma had wheels, she would be called bus".  If you zoom out XRP/BTC chart, you will see that in the long run XRP is still loosing the battle vs bitcoin and its far below its all time high from 2018.

By the way, your thread might have pushed bitcoin over that 100k mark that worried you so much about. 



Guess what many of those newbies buy after they get disappointed in alts?

Exactly. And I think this trend will only accelerate since the economic incentives align so much better for non-Bitcoin currencies for the ones who interface directly with investors.

Longer term, that's a bearish sign for Bitcoin, and very bullish for non-Bitcoin currencies.

Ah ok I get you.
I think a lot of newbies gravitate to $hitcoins looking for the quick profit and follow
the advice of "experts" on social media predicting "The next big coin" which "could"
go to 1,000x - and there are hundreds of such experts laying down their referral link
and preying on those newbies.

and so thats what drains Bitcoins market share.

Just looked at coinmarketcap for the first time in a long time and you have to go
to "Mog Coin" in position 117 with 1billion in market cap, everything above it have
Billions of market cap.

Who are the people who have a billion $'s in that $hite, ridiculous

Frankly I'm surprised its still over 50%, even when taking into consideration how easy it is for tokens to game their market caps. For example, does anyone really think that $SHIB, a washed-up memetoken is "worth" $18.2 billion?

Still, the first altcoin was launched in 2010, and regardless of what anyone says, some of them have provided real value to the overall cryptosphere and aren't going away any time soon. Bitcoin, while still the best crypto in terms of capturing dev brainpower, simply cannot do everything that the net sum of the best alts can do (whether it be smart contracts, true fungibility, or fast/cheap transactions). So I wouldn't be surprised if the dominance continues to fall in the future, regardless of whether its "alt season" or not.

This statement does not take away any of the magnificence and technological marvel inherent in Bitcoin; it just suggests that there is still a lot of room to grow as we continue to convert more of the non-crypto public. It's a win/win situation for everybody, not a PvP competition.

You truly understand what's going on. The joke will be on those who think Bitcoin is done with its spike this circle. They don't know this is just a cool off moment for Bitcoin. This is just a warm up. The real push is around the corner.

After the significant price spike of Bitcoin, I believe investors expect that altcoin would gain some effect of those Bitcoin bullish, and they began to speculate that there is going to be altcoin season, as shown in previous event, altcoin season is not really a threat to Bitcoin market both in term of price or marketcap, investors will finally take profit and sell their altcoins and buying bitcoin again to secure the value of their assets, and I think the case is still the same that people consider altcoins are not very safe for long-term investment afterall.

I guess I simply disagree with this. Comparing the current market to only three years ago, for instance, tells me that things have drastically changed.

Crypto brokers were the single-biggest contributor to the US elections in 2024. That's crazy--and very, very different from before when political contributions were basically nil. This tells me that crypto has grown up as an industry, and there are now key players that control this industry--and they are the major brokers like Coinbase and Binance, as well as the major private chains like Ripple, Solana and Hedera. None of these industry leaders have any specific reason to boost Bitcoin, and they have billions of reasons to pump it's competitors.


I was talking about the current bull run after the US election. XRP (and many others) have blasted off many times their previous value, and Bitcoin has risen perhaps 35%.


I was talking about new individual investors, not new currencies. Newbies usually gravitate toward the most well-known brands, which Bitcoin is by far the biggest. It's very bearish, therefore, that Bitcoin is actually losing marketshare in this context.

"Millions" of new entries!

Surely that would be a red flag to stay the hell away from them?

"Millions" of new entrants mean they each have a very nominal "market share"
just like all the other $hit coins in existence

Not really? The return was from 50 cents to $2.4, which is a bit less than x5 return, so I can't really say that there are enough reasons to consider this anything great, because even bitcoin went under 20k and reached to nearly 100k, so we have seen 5x return from bitcoin as well, and that's the biggest name, if you look for others, there are better ones too.

So there is really no reason to invest into XRP at all, makes no sense to me why people insist that it's a good coin, I would avoid that if I could. I agree that long term investment is better, and I do that too, I have mostly bitcoin, and then there are some other ones as well that I try to look at this as a good way to move forward as well, that will be a lot better.

No one is expecting Bitcoin to achieve the $100k benchmark on the first lump pull like the last one and infact everyone was expecting Bitcoin to reach a 90k price benchmark for this bull season, but unexpectedly Bitcoin reached above 99k+ this alone is a merging that should be viewed at the same light with a 100k Bitcoin price achievement in this bull season.

So expecting Bitcoin to climb above 100k and staying above that price per BTC is somewhat an unsustainable price benchmark for Bitcoin, but at least with the current Bitcoin  resistance price we are sure that the next leg up for Bitcoin will take us to a price position that will put us above $100kBTC.

As it is, we might expect for sure some slowdown on the pump of Bitcoin since the money might just go into altcoins for sure, since there are a lot of people probably already cashing out on Bitcoin, and investing it on altcoins for sure. But if we believe in the cycle of Bitcoin a lot of investors are going to believe that the market price could still peak in October next year, and I also believe in it, and for some it might just be easy to chill on the position since we buy and invest on Bitcoin on a very low price so, so buying early on Bitcoin could easily pay off right now that we are already on top around 90k$, its easy for a lot of people to take a profit at this point.

Would still continue to hold my Bitcoin but mostly planning to sell it next year whatever the market price might be, I just want to see if the market price is going to continue to increase in the coming months even though the market dominance is decreasing, but I'm planning to sell around 120k$-150k$ which I think is very possible at this rate.

Not that I don’t get your point here but the market hasn’t changed much from how the trend use to be from the previous bull runs and that’s why bitcoin dominance is reducing and more people are going into them altcoins, and as usual many people have started this trend of if there is always going to be an altcoin season why not join them just like you have insinuated of buying XRP. And my question is always this what is that altcoin to buy.

Take XRP for example were we confident of it doing a 10x after the last bull run? I don’t think many actually did think of that, it had its problems and overcome and just like Solana and SUI it is back up, but how do one hand pick this Altcoins to know which will pump or not, you simply just gamble on them, so for bitcoiner like me why gamble when you can get a solid 2x+ from bitcoin which is also an hedge against inflation

Okay, but... if you invested in (say) XRP during this latest bull run for BTC, you would have 10x your profits, at least. Just saying.

To be clear, I personally hate speculating and I don't personally own more than $100 in other cryptos (besides my company's), and I definitely don't do "day trading" or trying to predict what is going to go up or down in a week or a month.

But I think it's interesting to look at long-term trends, because they can change the way you look at the business.

I'm not going to respond to a post like this, nor should anybody else...

Dunno about you, but I certainly didn't expect that we will go through 100k mark on the first try so I see nothing strange in all this. Altcoins are getting their little pump before those who control the market decide that its time for bitcoin to finally break it.

If I were you, I would rather see it as a chance to get some more under 100k bitcoin than worry about it and thinking its some sort of a sign that bitcoin is in trouble.

Well it's not totally useless. It's more like a simple mathematical calculation of the percentage relationship between bitcoin's market capitalisation or market cap as we usually say and the total crypto crypto currency market cap. Say if we are to make out a formula for it we'll get something like this;

---

BTC Dominance (%) = (Bitcoin's Market Capitalization / Total Cryptocurrency Market Capitalization) x 100

---

Well you have a point about altcoins manipulating price but that is more common with premarket prices and in a calculation like this such data isn't including when summing the total market cap. Well to be frank the price of literally any commodity can be manipulated ranging from metals like Gold and silver to stuffs like oil and Gas and even crypto including bitcoin too. It's just a matter of adjusting supply in relation to demand , or in the case of bitcoin create an avenue for FOMO to cause price shifts buy either buying or selling huge amounts of bitcoin.

i know legiteum acts the fool to get others to solve his queries for him (like a baby cries to get spoonfed)

i know legiteum has already been corrected about the fact that market cap is MEANINGLESS

it does not indicate market share..
it does not represent how much popularity the market has of one coin or another
it does not represent any % of whom invests in what more or less
it does not represent %dominance nor %demand nor %desire

the point:
anyone can make a 200trillion pre-mined coin and with just $0.10 buy one of those coins and create a $20trillion market cap
one person + $0.10 = largest market cap

the other point:
so legiteum has been informed of this yet continues to be a dim-whit.. so the real question is why does he continue to be ignorant of how things like crypto work and whats actually important.. and why does he continue to pretend that he has not already been told this stuff

You do, but most consumer investors didn't. There has been an explosion of products (and additions to existing product e.g. PayPal) in the last few years geared to making it easy to invest in digital currencies. These products show you Bitcoin alongside a dozen other market leaders. This is new.

And even on the ETF front, there are now several other ETFs for other cryptos, with many more on the way. Soon BTC will lose that advantage as well.

So exactly the same as in all previous years?