Topic: Bitcoin Tanks to $10.4K; ETH Market Dominance at 2020 High (Read 513 times)
Bitcoin has crossed $11500, and now it seems to fluctuate within a minor margin. The growth continues, together is the growth of ethereum. When it comes to ethereum, it stands next to bitcoin in terms of dominance level. Both are highly expected assets for the year 2021. From the DEFI projects data 98% of the assets transactions of DEFI tokens were through the ethereum network. This itself keeps the network towards growth, because most people have stated the future is much connected to DEFI.
The hype is slowly dying down and for the most part I think it is only sustained by newbie investors still thinking they have a chance to make money and I simply do not see it, after all the few good projects in the DeFi market are overvalued and the rest are scam coins so how exactly they are planning to make money in the market? I am not sure but it does not matter since those investors for the most part do not really care about this market at all and were looking just for fast profits.
I don't think it will simply die down though, it's going to be cyclical until we reach a point wherein the market is already in a bear trend. And this newbies will keep on appearing in crypto space specially if they see this on their social media's. i.e. twitter, facebook and think they can make a lot of money in short amount of time.
So let's give them up until the end of this year and see if Defi will continue to attract noobs investors and then REKT them at the same time. If they only knew that bitcoin is the only true DeFI, then they wouldn't be investing their hard earn money on the current altcoin hype.
That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.
The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.I don't think it will simply die down though, it's going to be cyclical until we reach a point wherein the market is already in a bear trend. And this newbies will keep on appearing in crypto space specially if they see this on their social media's. i.e. twitter, facebook and think they can make a lot of money in short amount of time.
So let's give them up until the end of this year and see if Defi will continue to attract noobs investors and then REKT them at the same time. If they only knew that bitcoin is the only true DeFI, then they wouldn't be investing their hard earn money on the current altcoin hype.
That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.
The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.do let theirselves fall into the hype.
Im not really minding that much when it comes to dominance of other coins or alts because in the end of the line they would just be accumulating btc and do leave the alt market once again.
The market normally had flipping moment.We might see it is high for today and the situation is different on tomorrow and the cycle repeats.
That is because right now they have no argument, bitcoin has 4.5 times the market cap of ethereum so it is not like they can claim they are getting close to that happening, but if for some reason this DeFi hype and bubble somehow continues you can bet they will begin to talk about it as a form to try to keep hyping ETH, personally I do not mind as I know it will not happen no matter what but what bothers me about this is that some newbies may believe it and they may take bad investments decisions because of it.
The only argument they have is Eth2.0, but it's not enough to push this so called flippening. And what a month we have, unexpectedly, the support and resistance have fallen as well, that's why the index is still on the fear as the market is swinging wildly, one day it has bounce back and then suddenly it will go back to red again. And with so many exit scams happening in DeFi already, I wouldn't be surprised if the hype died down a bit for now.
Honestly I love eth but I do not understand people who think it will go above bitcoin at the same time neither. Why are you considering success depending on something elses failure? What if bitcoin drops so much that ethereum has a shot at going above it? Would that be good? I believe that wouldn't be good at all, it would in fact be very very bad for the crypto world, which means we should want ethereum to stay at second while both eth and btc going up x10 if they can, that would be awesome.
Instead of wanting to pass bitcoin, ethereum holders should want both btc and eth to go as high as possible to not only make them profit but also make everyone else profit. This ETH 2.0 will probably happen around when halving will be a year old, so I guess they can both go very high next May or June.
Instead of wanting to pass bitcoin, ethereum holders should want both btc and eth to go as high as possible to not only make them profit but also make everyone else profit. This ETH 2.0 will probably happen around when halving will be a year old, so I guess they can both go very high next May or June.
Recent price drop is an excellent opportunity to get some ethereum. This could be your last chance. I dont think that is a drop down. Probably a long waited correction (market can not just grow all the time). I dont call to buy now, but placing smart buy orders will be wise.
I believed ETH had already dipped or dropped down at $318+ those who bought at that zone are now profitable indeed a great buying opportunity at that zone presently the price stood at $366 maybe heading to $407+ as the next resistance, the pumping had already commenced any pullback or correction again means another buying opportunity had unveil itself although the movement of ETH is subject to the performance of Bitcoin in the market if BTC pumps well ETH will also experience growth. 
I am pretty sure that all the wait for the bitcoin halving craze wasn't for today, that can't happen this quickly, I know it has been a few months and people have been expecting a rise because of that reason, however that is not logical to think like that because halving is not something that changes prices instantly, it is a long term thing. Think of it like lower inflation, it is a good thing, with lower inflation your money keeps its value longer, but it is not one time quick change, it is a long term years thing.
Bitcoin had halving and miners makes less bitcoin which means they get to sell less bitcoin and that means there is less money sold and that will change over time. Obviously it may take long time, maybe it will take another whole year? Who knows.
Bitcoin had halving and miners makes less bitcoin which means they get to sell less bitcoin and that means there is less money sold and that will change over time. Obviously it may take long time, maybe it will take another whole year? Who knows.
If you analysis the bitcoin and altcoin market is moving good after the bitcoin halving. There will be moments when there will be some correction but overall the market trend is positive. By the end of 2021, we shall be see all time high of both bitcoins and altcoins.
I see that since this year, the bitcoin and altcoin market slowly making the right movements, and it prove from the increasing of the bitcoin and altcoin price. No matter if the price is up and down, and sometimes down deeper, but the price will be back to the high price. Perhaps, what you say will become true at the end of the next year, but I hope that bitcoin will pass more than $15k by the end of this year. If that can happen, we might get another best moment to sell bitcoin at the new ATH after waiting for a long time.
Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!
LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.
Bitcoin will always be the leading influencing factor in the market, if bitcoin goes down like this, ETH rises, it will fall anyway, because the only one that has a life of its own is bitcoin, both ETH and any altcoin will always depend on the movements of bitcoin. There are exceptions, there are some currencies that survive from the pump and dump, but the price of bitcoin influences the same way.
Surely we're not talking about another round of flippening talk? I mean, sure Defi will grow and grow and some day unlimited supply means it will eventually get closer to BTC but bubbles burst eventually, and Bitcoin doesn't need a defi craze to grow!
LOL, I remember those days in which people thought ETH had a chance of taking BTC position, while I have no doubt those that support ETH will like for that topic to comeback just look at what it is happening to ETH now, after some people refused to sell their ETH thinking the party could keep going we are now seeing a 17% drop in 24 hours and BTC has regained some of the market dominance it lost during the last days and as this market turns from extreme greed to extreme fear we could see an even bigger drop during the next days.
I am pretty sure that all the wait for the bitcoin halving craze wasn't for today, that can't happen this quickly, I know it has been a few months and people have been expecting a rise because of that reason, however that is not logical to think like that because halving is not something that changes prices instantly, it is a long term thing. Think of it like lower inflation, it is a good thing, with lower inflation your money keeps its value longer, but it is not one time quick change, it is a long term years thing.
Bitcoin had halving and miners makes less bitcoin which means they get to sell less bitcoin and that means there is less money sold and that will change over time. Obviously it may take long time, maybe it will take another whole year? Who knows.
Bitcoin had halving and miners makes less bitcoin which means they get to sell less bitcoin and that means there is less money sold and that will change over time. Obviously it may take long time, maybe it will take another whole year? Who knows.
The head and shoulders pattern hasn't been filled maybe there will be another dump for bitcoin technically. But who knows? There is no certain strategy which have 100% accurate.
Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.
Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.
there is still a long time for bitcoin to make improvements and the possibility of going up and down will continue and this is the umpteenth time bitcoin has experienced this, because the momentum for bitcoin to move up has not happened, which is for sure next year.
opportunity for short-term investment if you want to run because indeed bitcoin will continue to move like yesterday for several times, and at the end of the year may start to stabilize. There are still 3 months left and the possibility of ups and downs will continue to occur rapidly.
The head and shoulders pattern hasn't been filled maybe there will be another dump for bitcoin technically. But who knows? There is no certain strategy which have 100% accurate.
No strategy will work for this. The market still never shows strong market resistance in which we could expect Bullish but that seemed hopeless and not a thing we have to expect this time. But I was not thinking also that we get back to 4 digits instead of keeping at above $10k until we end this year.Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.
Warren Buffet? You better not to listen with him coz there is no truthfulness with his words when talking about crypto. He's dragging only to hell than saying good for it. Besides, if that is true, he's not only a bag holder and that means that even he sold his Bitcoin (if he has) won't certainly give a huge impact on the price.
The head and shoulders pattern hasn't been filled maybe there will be another dump for bitcoin technically. But who knows? There is no certain strategy which have 100% accurate.
Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.
Also, I heard a new yesterday which stated that Warren Buffet has diceded to sold their 100 portfolio in stock marker which can affect for bitcoin and gold and we have seen a little surge increase a few time ago.
As I see, BTC is following the stockmarket trajectory this time. The markets are down too. Just brace yourself and HODL
Exactly. I must have repeated this at least 5 times in different threads where clueless people were writing stupid questions like "is bitcoin dying?" or "did the whale manupulate the market?".
The stock market regained a lot after the corona crash and people are taking profits now especially since a second wave of corona is expected to appear. Bitcoin was rejected at 12k and is not strong enough to ignore stocks and go up.
ETH might be high in dominance but it still falls when Bitcoin falls. It's too weak to ignore Bitcoin like all other major altcoins.
ETH went down from $480 to $350 so it lost more than BTC. How is that a strong, dominant coin?
You are right, bitcoin falls, ETH falls or the rest of the coins falls, that's what we have seen before the price started to recover again.
Currently, bitcoin dominance is 57%, that's still huge compared to ETH which only has 12%, so even if ETH dominance will rise, it can never get close to bitcoin's dominance as it's not only ETH that has rise, lots of coins as well.
That is no dominance, the fact that ETH continued to go down has been bothering since the moment it hit a certain point it goes down as fast and goes lower than the recent ceiling, thus dominance is rather an absurd word to use I would call it redemption since it is going well at least like it used to, since the moment it hit $1,4k in 2017 it suddenly goes down then in 2019 the highest is $800 then it slowly went downwards and never really had a chance to go back from the same level as those years.
I wrote about dominance in reference to the market cap. It's still dominating the altcoin market despite the losses.
XRP with the second market cap among altcoins barely has 30% of ETH in that matter it is dominance for sure.
We can argue that market cap doesn't mean anything because it really doesn't, but it is an indicator many people watch and one that ranks coins.
As I see, BTC is following the stockmarket trajectory this time. The markets are down too. Just brace yourself and HODL
Exactly. I must have repeated this at least 5 times in different threads where clueless people were writing stupid questions like "is bitcoin dying?" or "did the whale manupulate the market?".
The stock market regained a lot after the corona crash and people are taking profits now especially since a second wave of corona is expected to appear. Bitcoin was rejected at 12k and is not strong enough to ignore stocks and go up.
ETH might be high in dominance but it still falls when Bitcoin falls. It's too weak to ignore Bitcoin like all other major altcoins.
ETH went down from $480 to $350 so it lost more than BTC. How is that a strong, dominant coin?
That is no dominance, the fact that ETH continued to go down has been bothering since the moment it hit a certain point it goes down as fast and goes lower than the recent ceiling, thus dominance is rather an absurd word to use I would call it redemption since it is going well at least like it used to, since the moment it hit $1,4k in 2017 it suddenly goes down then in 2019 the highest is $800 then it slowly went downwards and never really had a chance to go back from the same level as those years.
As I see, BTC is following the stockmarket trajectory this time. The markets are down too. Just brace yourself and HODL
Exactly. I must have repeated this at least 5 times in different threads where clueless people were writing stupid questions like "is bitcoin dying?" or "did the whale manupulate the market?".
The stock market regained a lot after the corona crash and people are taking profits now especially since a second wave of corona is expected to appear. Bitcoin was rejected at 12k and is not strong enough to ignore stocks and go up.
ETH might be high in dominance but it still falls when Bitcoin falls. It's too weak to ignore Bitcoin like all other major altcoins.
ETH went down from $480 to $350 so it lost more than BTC. How is that a strong, dominant coin?
I also commented on other thread about the greed and fear index, and it seems overnight, it turn from greed to fear, Lol, that's crypto market, in 24 hours, the tide will suddenly shift without explanation.
A $2,000 (~17%) drop in 48 hours would explain it! Not to mention how harshly altcoins dumped.
I forgot all about the Fear & Greed index. Didn't realize we were in "extreme greed" just 3 days ago! Sometimes it really pays to keep track of this stuff.
We just need to wait for few more days, as soon as the market will start to recover, we will see the greed fear index turning into greed.
Also everyone should remember that we should sell when every one is greedy and buy when everyone is fearful. So this is the buying time.
Also everyone should remember that we should sell when every one is greedy and buy when everyone is fearful. So this is the buying time.
Keep in mind, the market can become much more fearful than it currently is.
This past February after a 2-3 month rally, the index switched to "fear" on Feburary 20th in the $9,000s. The market dumped to the $3,000s by March.
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