Bitcoin's domination of the crypto-market loosening

sapnu

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Quote from: Nickbryan10 on May 03, 2021, 03:21:02 PM

The domination of bitcoin in the cryptocurrency market is loosening as investors are seeking to invest in other smaller cryptocurrencies. A large pool of investors is going towards ethereum as it hit 3k yesterday and many are projecting it to hit 10k before the year runs out.
BTC is undoubtedly the hottest cryptocurrency in the world and its market remains strong. But many still want other options and are going for the smaller coins as there are some with very good projections in the near future

I highly doubt that bitcoin's dominance in the crypto market is loosening because even though most of investors are eyeing other small coins, they still put most of their investment in bitcoin. Indeed they are diversifying but on the other hand, they are well aware of how much higher bitcoin can go after witnessing it achieve consecutive ATHs. It will remain on the top till the end regardless of how many new altcoins would appear, they can never replace bitcoin's throne. People have learned a lot after seeing bitcoin recover from the massive dump last 2018 so they will surely pay attention on bitcoin still no matter what.

CutePanda

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We have to admit that Bitcoin is still the mother of Altcoins, because BTC is still leading the marketcap for altcoin for now, BTC will keep going strong even i think it can pass through ATH and can reach $60k at least at the end of this month.

iphone5s

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Everyone is starting to return to investing and in contrast to last year who began to despair of the price of Bitcoin that doesn't seem to want to grow back. More and more new investors who keep popping up to buy Bitcoin make the market imbalance. Could be one of the factors that pushed down the price of Bitcoin. We can't see every day the increase that continues to appear in Bitcoin because there will come a time when the price gets worse for some time. But can't guess whether the decline will last for a long time or just a few hours. But there are many factors that make things change in the future.

husencoe

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yes. I think everyone will be competing to benefit from the current momentum. Many Altcoins have also risen in this decade and all want to take a part. maybe because BTC is already so hight, and many of people try their luck on a New Alt or a cheaper Alt like ETH. Everything can be happen now and everyone is looking for a lot of profit with this good market.

Fivestar4everMVP

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Bitcoin has done really well this year, and as many of those who are investing in it already know, the coin can't keep going up forever, at some point, there will have to be some sort of correction and like it or not, some paper hands are gonna loose money, and its also very hethy for bitcoin to sometimes, relax and allow other altcoins to grow.
There is money to be made in every part of crypto currencies and not just on bitcoin alone, this is why as soon as investors notice a slack I the buy others on bitcoin, they begin removing their money to invest in some other coins to further make more profits, and this is why bitcoin dominance always comes back down after going really high.

FairUser

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I have now thought of a pretty interesting one when it comes to the next BTC growth next time, and I am sure it will draw a lot of money from altcoin this time, and after that there will be a lot of action next variable.

leea-1334

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their option is looking for smaller coins because of the low price we already get a lot of tokens and the potential to pump faster. but smaller coins have a big risk, it's worth what we get. it's just how we are smart in managing assets so that profits can still be obtained

Smaller coins are bigger risk, this is plain and simple and yet a lot of people do not get it. They say Bitcoin and ETH are the riskiest because they cost so much, but for me, $100 in BTC will be 10 times safer than 10 cents in a deficoin that is coming out in 100 variations every day now. I know my BTC lasts 10 years,,, I cannot know if defi will last 10 months.

WalkerIVIV

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Quote from: Amejoaquim on May 05, 2021, 08:33:47 PM

I think the big reason is because most of the new investor are greedy.

Agreed, there are bunch of people have been moving to the altcoins because they were looking for the instant investment rather than try to wait for a long time to get a small return.
You can see how SHIBA was going crazy and due to the very high liquidity and binance was adding it on its own exchange site.
The newcomers were also actively betting on the new coins.

bitterguy28

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Actually it is not loosening instead because the price is increasing and altcoin is also Pushing, the capitalization turns almost 1.1 trillion while back in 2020 this is only 300 billion when the domination goes 60+ % that means a lot i guess..

LUCKMCFLY

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At this time, if the dominance of Bitcoin has loosened, it is by 41% -42% dominance, but it is not to despair, the institutions are in favor of Bitcoin, for now some altcoins are taking a very good bullish and positive turn in the market, in this case who has had a 100% increase has been EOS:

Quote

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $6.18 on May 5, the price of EOS has catapulted more than 100% to a mid-day high of $12.85 on May 6 thanks to a record $15 billion in 24-hour trading volume.

Source:https://cointelegraph.com/news/eos-price-rallies-100-following-a-proposal-to-increase-staking-rewards

It's amazing what people's emotions do when they propose to increase the rewards of participation.

irixo10

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This is highly expected as people or investors are now seeing more opportunities in other altcoins, investing in them and thus leading to more lesser dominance, and as this continues the altcoin season might be in full effect wherein we will witness a surge in a good number of altcoins and even shitcoins with no use case as people will be fast to invest in any coin that will give them profit. In the same way, just as many investors are moving to altcoins, a lot of them are doing so with the intention of investing the profit back to Bitcoin and other top altcoins when the time comes because they know that, holding most altcoins for long is a bad idea while Bitcoin and other top altcoins are good for long term holding.
In my own opinion, the idea is always to have more Bitcoin and one of the ways to get it is through altcoin season.

Amejoaquim

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I think the big reason is because most of the new investor are greedy.

Why i said that because i'm the one of that, i'm looking for x10-x100 from my investment on crypto, so bitcoin isn't the option for me because of the marketcap of btc is already so HIGH.

VanDeinsberg12

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such thing happen quite frequently not to mention people said the current time is altcoin season so no wonder if domination is decreasing. it has happened many time and the domination of btc ever go down to 30% in the past if i'm not mistaken but it's definitely gonna climb up again if another bullrun coming.
I mean what do you expect for a coin to dominate the market even only 45% it's already damn good enough. the thing is, ETH keep getting more and more popular among institutional investors and the retailer also mostly invest in BNB nowaday, but surely people gonna convert them to btc eventually.

SaveOurSea

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Quote from: Pierre 2 on May 05, 2021, 07:55:36 AM

Bitcoin dominance doesn't mean anything other than altcoins raising more than bitcoin does. I mean it doesn't always mean bad thing. When you think about how hot and popular Ethereum and Binance Smart Chain projects are, you will realize it is obviously normal, healthy situation. I think bitcoin will recover next month.

for me the dominance is very meaningful for the price of bitcoin itself, because the dominance of bitcoin has dropped sharply,
this can mean that Bitcoin holders are decreasing, and traders prefer to get out of Bitcoin,
and this situation is the same as in early 2018 where after new ath the domination of bitcoin slowly declined, and make the Bitcoin price even lower.

Blitzboy

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thats mean altseason already started mate, because as you can see now a lot of good altcoins project in green colour right ?
just try to picks the right altcoins now, if you want to get a good profit Wink

I agree with your point. Altseason is here and now is the best time to invest our money in small coins (which is even smaller than ethereum). People invest their money in altcoins forcing it to increase rapidly in a short time. For example, SONM gained more than 1000% within a day. What an outstanding number

Pierre 2

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Bitcoin dominance doesn't mean anything other than altcoins raising more than bitcoin does. I mean it doesn't always mean bad thing. When you think about how hot and popular Ethereum and Binance Smart Chain projects are, you will realize it is obviously normal, healthy situation. I think bitcoin will recover next month.

Chato1977

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Quote from: Nickbryan10 on May 03, 2021, 03:21:02 PM

The domination of bitcoin in the cryptocurrency market is loosening as investors are seeking to invest in other smaller cryptocurrencies. A large pool of investors is going towards ethereum as it hit 3k yesterday and many are projecting it to hit 10k before the year runs out.
BTC is undoubtedly the hottest cryptocurrency in the world and its market remains strong. But many still want other options and are going for the smaller coins as there are some with very good projections in the near future

45.1% dominance and Ethereum the rank 2 stays 17.1% so how comes that Bitcoin is losing the dominance ?just because of 10k decrease in price? look at it now still fighting to break 60,000 level again.
is this not enough for you to believe in its capacity?

asriloni

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just try to picks the right altcoins now, if you want to get a good profit Wink

The problem is almost all of legit altcoins already pumped to the moon, he was only a few altcoins in the market that's worth to be picked as his investment.
I do agree with your statement about about the altcoin season but it looks like that altcoin will have reached its peak trend as soon as possible consider ethereum has been growing up and this could be a signal for altcoin to reach the peak price like ethereum soon.

OP, when altcoin season was coming and bitcoin dominance will be eaten by altcoin.

accounting 181293

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thats mean altseason already started mate, because as you can see now a lot of good altcoins project in green colour right ?
just try to picks the right altcoins now, if you want to get a good profit Wink

yes the altseason has started at this time. the decline in bitcoin dominance and the upward trend in altcoins are signs of the start of the altseason. the bull market this year is going to be very long, I think it will be the best time to trade crypto. So now is the perfect time to invest in altcoins.

Fatunad

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thats mean altseason already started mate, because as you can see now a lot of good altcoins project in green colour right ?
just try to picks the right altcoins now, if you want to get a good profit Wink

There's always a time on where we do already experience an altcoin bull run and it is really starting as of this moment which you had said that alts are starting getting some momentum
and gaining as of this moment but doesnt mean that lessening of domination of bitcoin does signify that altcoin would be overtaken its place.There would always be a time on where
Altcoin does have its own time to shine and for those who had risk out on buying coins while its still cheap are the ones who are making money as of this moment.
Dont worry about domination because this isnt a solid indicator about increasing prices.

Nickbryan10

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The domination of bitcoin in the cryptocurrency market is loosening as investors are seeking to invest in other smaller cryptocurrencies. A large pool of investors is going towards ethereum as it hit 3k yesterday and many are projecting it to hit 10k before the year runs out.
BTC is undoubtedly the hottest cryptocurrency in the world and its market remains strong. But many still want other options and are going for the smaller coins as there are some with very good projections in the near future

Topic: Bitcoin's domination of the crypto-market loosening (Read 278 times)