I have no problems if that is your style however the bitcoin dominance is important to me because that indicates where we are in the market cycle, altcoins are now moving at a higher speed than bitcoin which means that speculators are now in control of the market, this has the consequence of having an increase in the volatility of bitcoin and altcoins and that now the market is behaving a little bit more irrational, which is exactly what we are seeing with the flash crash we saw a few days ago.
Probably you are right but you cannot predict the future just by tracking where the money flow into. I mean bitcoin dominance may get you some idea of where the new investors are heading to. But, if you take one decisions when bitcoin dominance is around 50% and when you take another decision when bitcoin dominance will be 60%, both do not need to be right as at any time future investors might change their investment options. So, not taking any financial decisions based on one or two factors is highly recommended.
Topic: Bitcoin price has reached new high price near 59K (Read 408 times)
I have no problems if that is your style however the bitcoin dominance is important to me because that indicates where we are in the market cycle, altcoins are now moving at a higher speed than bitcoin which means that speculators are now in control of the market, this has the consequence of having an increase in the volatility of bitcoin and altcoins and that now the market is behaving a little bit more irrational, which is exactly what we are seeing with the flash crash we saw a few days ago.
Probably you are right but you cannot predict the future just by tracking where the money flow into. I mean bitcoin dominance may get you some idea of where the new investors are heading to. But, if you take one decisions when bitcoin dominance is around 50% and when you take another decision when bitcoin dominance will be 60%, both do not need to be right as at any time future investors might change their investment options. So, not taking any financial decisions based on one or two factors is highly recommended. To me the numbers never lie, the bitcoin dominance has been slowly falling over the last months and it is barely above 50% this means that overall altcoins have been more profitable during that time, also bitcoin once again surpassed our expectations and now it is trading for a price of 55k, I really think that some people were caught using leverage by the bears and this create a domino effect and that is what created such an important drop in the price.
But, never need to worry on these kinds of corrections and your probable reason of getting liquidated in leverage market definitely a reasonable one and this is why we never need to concern of getting to $55k region suddenly from $60k levels; just part of every market and bitcoin may bounce back at any time soon.And in my opinion also, dominance in marketcap is just another number that most people are considering to compare and to take investment decision but honestly it is not having any economic value. I do never consider about dominance of bitcoin market and where it is heading.
To me the numbers never lie, the bitcoin dominance has been slowly falling over the last months and it is barely above 50% this means that overall altcoins have been more profitable during that time, also bitcoin once again surpassed our expectations and now it is trading for a price of 55k, I really think that some people were caught using leverage by the bears and this create a domino effect and that is what created such an important drop in the price.
But, never need to worry on these kinds of corrections and your probable reason of getting liquidated in leverage market definitely a reasonable one and this is why we never need to concern of getting to $55k region suddenly from $60k levels; just part of every market and bitcoin may bounce back at any time soon.And in my opinion also, dominance in marketcap is just another number that most people are considering to compare and to take investment decision but honestly it is not having any economic value. I do never consider about dominance of bitcoin market and where it is heading.
We were very close to reach 65k as a new all time high, this should show us that bitcoin is always going to surpass our expectations, however we cannot deny that now the altcoin market is giving greater profits than bitcoin however even after the current growth that those coins are going through they are still underperforming against bitcoin and I do not think this is going to change because even with the current surge in their popularity institutional investors still do not care about those coins.
I'm expecting to be testing $70k as next milestone before we will be seeing any possible correction. Because, I'm sure some institutional funds are entering into bitcoin market and this is the reason we are currently holding strongly above $62k price levels. Also I read miners started to hold rather than selling mining rewards time to time to cover their expenses.I do not agree that altcoins are getting us bigger profits because there are many altcoins are there and we cannot be sure about to invest on which one. But, if we are good at finding the right one then we can enjoy greater profits in short run but bitcoin is good in getting us steady profits in long run. So, I guess comparing bitcoin against altcoins in terms of return is not making that sense.
We were very close to reach 65k as a new all time high, this should show us that bitcoin is always going to surpass our expectations, however we cannot deny that now the altcoin market is giving greater profits than bitcoin however even after the current growth that those coins are going through they are still underperforming against bitcoin and I do not think this is going to change because even with the current surge in their popularity institutional investors still do not care about those coins.
I'm expecting to be testing $70k as next milestone before we will be seeing any possible correction. Because, I'm sure some institutional funds are entering into bitcoin market and this is the reason we are currently holding strongly above $62k price levels. Also I read miners started to hold rather than selling mining rewards time to time to cover their expenses.Yes, this is the next big psychological numbers for more speculators so hitting $70k in the next coming weeks might trigger another dip. But it will be just minor though, I'm not expecting a huge dump.
I do not agree that altcoins are getting us bigger profits because there are many altcoins are there and we cannot be sure about to invest on which one. But, if we are good at finding the right one then we can enjoy greater profits in short run but bitcoin is good in getting us steady profits in long run. So, I guess comparing bitcoin against altcoins in terms of return is not making that sense.
You can get big profits as long as you have timed the market. So for bitcoin investors, they don't want to dig their hands on altcoins because of that. They say that bitcoin is volatile, but I would say that altcoin market is more volatile because of the pump and dump scheme.
We were very close to reach 65k as a new all time high, this should show us that bitcoin is always going to surpass our expectations, however we cannot deny that now the altcoin market is giving greater profits than bitcoin however even after the current growth that those coins are going through they are still underperforming against bitcoin and I do not think this is going to change because even with the current surge in their popularity institutional investors still do not care about those coins.
I'm expecting to be testing $70k as next milestone before we will be seeing any possible correction. Because, I'm sure some institutional funds are entering into bitcoin market and this is the reason we are currently holding strongly above $62k price levels. Also I read miners started to hold rather than selling mining rewards time to time to cover their expenses.I do not agree that altcoins are getting us bigger profits because there are many altcoins are there and we cannot be sure about to invest on which one. But, if we are good at finding the right one then we can enjoy greater profits in short run but bitcoin is good in getting us steady profits in long run. So, I guess comparing bitcoin against altcoins in terms of return is not making that sense.
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what you say may or may not be true, if we look at the past halving, both the first and second periods occurred at the end of the year after that, at that time in November 2013 and December 2017.then with the third halving in 2020, it is certain that it will reach ATH at the end of 2021 but it cannot be predicted in what month. but this indicates that the increase in bitcoink if it does occur at the end of the year will certainly be of extraordinary value. we are waiting for this to happen or not.
Of course, no one can predict the exact month, but you have to remember that we are gauging all time high not in months but the whole cycle year. That's why we have indicators like year-to-year, so we might have to look at the end price this year. And just like previous cycles bull run, it usually December that we saw a big growth, just like year alone, we surpasses and created a higher high for 2020, and then this year, it will be all time high again.
We often see the history before in the month of December, usually the right moment, it can be said that the price started high, but indeed in this cycle it cannot be completely correct because of the conditions and what about the trend I saw before in December it will be month right.
I saw that before 2020 at the end of the year bitcoin experienced a quite drastic increase, then with many trends emerging and also some institutions that are adopting more, I am sure that everything can change in this case, including the price will get higher with the cycle that occurs.
While Bitcoin price hits the high price of 59K but with a drop of dominance gradually, investors are putting money not only to Bitcoin but also to the altcoins markets.
Where the drop gradually?? Bitcoin keeps increasing and now reaches $63 and I'm positive we are will see Bitcoin reach $70K in the near.Stop to think Bitcoin will drop or dump or anything, No. This year is the time of Bitcoin keep growing. So I hope you don't miss it
Oh, btw Current price is $63K and this the new ATH, you can lock your thread because not relevant anymore
While Bitcoin price hits the high price of 59K but with a drop of dominance gradually, investors are putting money not only to Bitcoin but also to the altcoins markets.
Where the drop gradually?? Bitcoin keeps increasing and now reaches $63 and I'm positive we are will see Bitcoin reach $70K in the near.Stop to think Bitcoin will drop or dump or anything, No. This year is the time of Bitcoin keep growing. So I hope you don't miss it
Oh, btw Current price is $63K and this the new ATH, you can lock your thread because not relevant anymore
i hope so....
2 months ago i say to my friends about bitcoin price in this year. And my predict, bitcoin top price will be come in July. After that, bitcoin will be sideway until november or end 2021.
what you say may or may not be true, if we look at the past halving, both the first and second periods occurred at the end of the year after that, at that time in November 2013 and December 2017.2 months ago i say to my friends about bitcoin price in this year. And my predict, bitcoin top price will be come in July. After that, bitcoin will be sideway until november or end 2021.
then with the third halving in 2020, it is certain that it will reach ATH at the end of 2021 but it cannot be predicted in what month. but this indicates that the increase in bitcoink if it does occur at the end of the year will certainly be of extraordinary value. we are waiting for this to happen or not.
Of course, no one can predict the exact month, but you have to remember that we are gauging all time high not in months but the whole cycle year. That's why we have indicators like year-to-year, so we might have to look at the end price this year. And just like previous cycles bull run, it usually December that we saw a big growth, just like year alone, we surpasses and created a higher high for 2020, and then this year, it will be all time high again.
if we look at the past halving, both the first and second periods occurred at the end of the year after that, at that time in November 2013 and December 2017.
then with the third halving in 2020, it is certain that it will reach ATH at the end of 2021 but it cannot be predicted in what month. but this indicates that the increase in bitcoink if it does occur at the end of the year will certainly be of extraordinary value. we are waiting for this to happen or not.
Yeah, we cannot predict exactly the time frame of occurrence of ATH but as per past bull cycles, we may assume 3rd quarter of this year is having good chance to have the new ATH. When the help of timeframe and price levels, most people are trying to make use of ATH to short their stash so that they may buy back to multiply the number of bitcoin holding. I wished to do the same in 2017 but due to fear of loss, I did not touch my bitcoins and simply continued my holding.then with the third halving in 2020, it is certain that it will reach ATH at the end of 2021 but it cannot be predicted in what month. but this indicates that the increase in bitcoink if it does occur at the end of the year will certainly be of extraordinary value. we are waiting for this to happen or not.
But this time I may take some calculated risk by selling some 5% of bitcoin holding to buy back when prices crashes at least 50% (usually bitcoin prices do crash 70% from ATH), so that I will add some extra bitcoin into my stash. But I will not touch my bitcoins if prices are above $100k by end of this year.
i hope so....
2 months ago i say to my friends about bitcoin price in this year. And my predict, bitcoin top price will be come in July. After that, bitcoin will be sideway until november or end 2021.
what you say may or may not be true, if we look at the past halving, both the first and second periods occurred at the end of the year after that, at that time in November 2013 and December 2017.2 months ago i say to my friends about bitcoin price in this year. And my predict, bitcoin top price will be come in July. After that, bitcoin will be sideway until november or end 2021.
then with the third halving in 2020, it is certain that it will reach ATH at the end of 2021 but it cannot be predicted in what month. but this indicates that the increase in bitcoink if it does occur at the end of the year will certainly be of extraordinary value. we are waiting for this to happen or not.
Bitcoin Steady Near $59K; Gains in Altcoins Push Crypto Market Cap to $2T
"As altcoins rise, bitcoin’s market dominance is down to around 57% from near 73% at the beginning of the year."
While Bitcoin price hits the high price of 59K but with a drop of dominance gradually, investors are putting money not only to Bitcoin but also to the altcoins markets.
Image Souce: MyTradingInfo
"As altcoins rise, bitcoin’s market dominance is down to around 57% from near 73% at the beginning of the year."
While Bitcoin price hits the high price of 59K but with a drop of dominance gradually, investors are putting money not only to Bitcoin but also to the altcoins markets.
Image Souce: MyTradingInfo
Indeed it's now starting to set in place with altcoins, but we can't really see it for those dead project that has been ignored by developers. Most of them was only having trading with less valuable volumes, and that's what makes it more worst for now. I still don't lose hope but rather, pushing towards every goals for my altcoins holding to become successful same with bitcoin's journey.
Bitcoin Steady Near $59K; Gains in Altcoins Push Crypto Market Cap to $2T
"As altcoins rise, bitcoin’s market dominance is down to around 57% from near 73% at the beginning of the year."
While Bitcoin price hits the high price of 59K but with a drop of dominance gradually, investors are putting money not only to Bitcoin but also to the altcoins markets.
Image Souce: MyTradingInfo
"As altcoins rise, bitcoin’s market dominance is down to around 57% from near 73% at the beginning of the year."
While Bitcoin price hits the high price of 59K but with a drop of dominance gradually, investors are putting money not only to Bitcoin but also to the altcoins markets.
Image Souce: MyTradingInfo
Indeed it's now starting to set in place with altcoins, but we can't really see it for those dead project that has been ignored by developers. Most of them was only having trading with less valuable volumes, and that's what makes it more worst for now. I still don't lose hope but rather, pushing towards every goals for my altcoins holding to become successful same with bitcoin's journey.
It is still trading sideways, or as other will say, this is a period of consolidation. It did hit $59k but it seems that there is a huge selling pressure so it goes down to $58k++. As for the altcoins, yeah, it is continuing it's rally while bitcoin is on the sideways. But the again, investors are going to shift again, once they see that bitcoin is about to make a break out run. Doesn't matter if the dominance goes down to 57%. Still the price is looking strong.
It is going to be interesting what happens from now on, the consolidation phase has lasted very long and we may be headed for a double top if true then a decrease in the price seems like a strong possibility, however even if this seems like it is what the charts indicates every single indicator that we see may seem to point out to the fact that whales are accumulating even more bitcoin and they are doing so in a way that does not rise the price, so we will have to see what ends up happening during the next days. 
still the growing money entering cryptocurrency is largely focused on Bitcoin. A 55% dominance is still very high in a 2-trillion USD market cap.
Honestly I'm expecting bitcoin dominance to be hitting as low as 40% in coming years because it is a kind of calculation one against many so obviously bitcoin dominance will go down in coming years still I believe bitcoin value will be testing one million dollar as well at the same time.However we should not make our investments with that hope, we should not be shocked if it happens but we should not be expecting it neither, we should just consider all the possible options. This is why I think it is quite important we do not make investments based on something that rarely ever happens.
it's stable somehow this time but we'll not know how long it will be stable there.
But, we can easily assume as per the past similar occurrence that whenever bitcoin prices are trading within a price range, it is going to launch upper side in very near future; this is kind of peace before a storm. In other words, bitcoin is simply gaining power for another big bull run; if it breaks $65k this time then it can easily test $80k.still the growing money entering cryptocurrency is largely focused on Bitcoin. A 55% dominance is still very high in a 2-trillion USD market cap.
Honestly I'm expecting bitcoin dominance to be hitting as low as 40% in coming years because it is a kind of calculation one against many so obviously bitcoin dominance will go down in coming years still I believe bitcoin value will be testing one million dollar as well at the same time. 
Yeah and I thought it was reached the $60k amount, but it is almost and considering that is a new ATH.
I would rather see altcoins growing and Bitcoin having a lower dominance rate if it means that people are having fun with the market and still able to sustain. The question is, up until when would Bitcoin be stable?
This is a golden question we had to get answers to (unfortunately, impossible because of the volatility of the market) we know that there's no infinite growth of Bitcoin price and it could be now and then it will dump, as in dump like what happened right after the previous ATH, it was drastically down.
And the good thing today is, during the alt season, stable coins can be used in order to keep stay the same. I would actually suggest people go to stable coins during the season if they are a short-term holder, just to make sure the consistency.
I would rather see altcoins growing and Bitcoin having a lower dominance rate if it means that people are having fun with the market and still able to sustain. The question is, up until when would Bitcoin be stable?
This is a golden question we had to get answers to (unfortunately, impossible because of the volatility of the market) we know that there's no infinite growth of Bitcoin price and it could be now and then it will dump, as in dump like what happened right after the previous ATH, it was drastically down.
And the good thing today is, during the alt season, stable coins can be used in order to keep stay the same. I would actually suggest people go to stable coins during the season if they are a short-term holder, just to make sure the consistency.
There are more interesting altcoins lately. The DeFi trend has hit the market quite hard. We have seen a surge of support among the likes of Uniswap (UNI), 1Inch (1INCH), Avalanche (AVAX), PancakeSwap (CAKE), SushiSwap (SUSHI), even Waves (WAVES), and many other altcoin projects. This must have helped increase the overall cryptocurrency market cap. But still the growing money entering cryptocurrency is largely focused on Bitcoin. A 55% dominance is still very high in a 2-trillion USD market cap.
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