Topic: BTC Dominance: 66.9% (Read 342 times)
now market growth is seen happening together between bitcoin and altcoin. BTC looks good by growing gradually and altcoin is also following its growth now. we expect better pumps, but it seems we have to be more patient. I hope the dominance of bitcoin can still be reduced and now is the time for altcoin to grow.
I think bitcoin is a place to exchange coins with local money, so it is very natural that bitcoin has price movements up and down, it's just that at this time bitcoin is still not able to become fully dominant because there are still many pros and cons with bitcoin.
BTC is on the fire with such a strong demand all around the world everyone want to buy more and more just FOMO has been started and people are dumping their altcoin for BTC. I'm quite sure dominance will keep rising if it will keep moving with that trend than very soon it will be above 70% in next few days.
About 3 years ago amid the rising number of altcoins and ICOs, some bitcoin maximalists wrote reasons of why those altcoins would ultimately fail, and bitcoin would eventually dominate. Some of these articles can be found on Nakamoto institute website. Very interesting read.
The prediction sounds ridiculous to some people, but now it seems to come true. Bitcoin rising in value, and altcoins slowly bleeding to non-existence.
One thing many people don't realise is: market cap / money flow / coin price aren't necessarily linked to superior technology. Money is a collected hallucination. You can have outdated technology which people want to put the money in, or superior technology which no one cares.
But that is the issue, bitcoin is not only a new technology it is also a form of money, the US dollar has been dominant for almost a century despite its huge flaws and the fact that it became fiat during the 70's, most developers do not understand that no one cares if they can develop a network that is slightly faster than bitcoin, the first mover advantage that bitcoin enjoys will be impossible to overcome unless a fatal flaw is found in the code of bitcoin, something unlikely since the best developers of the world are working on bitcoin and not with the competing alts. The prediction sounds ridiculous to some people, but now it seems to come true. Bitcoin rising in value, and altcoins slowly bleeding to non-existence.
One thing many people don't realise is: market cap / money flow / coin price aren't necessarily linked to superior technology. Money is a collected hallucination. You can have outdated technology which people want to put the money in, or superior technology which no one cares.
I would say that the increased dominance of Bitcoin is a consequence of the long bear market. Confidence fell dramatically, and alts were naturally hit harder. And when the bear market ended, and confidence started growing within crypto again, Bitcoin is the obvious safest bet to buy back in. I would say alts will only take over the market growth once the consensus is that we are back in a long-term bull trend. It make take a while, but I do think it will happen and that it certainly isn't the end for alts.
The 1-day chart showing that it will try to break the trendline again.
On 10 July Bitcoin want to break the resist but failed. And this time it happens again. I hope good news today so the volume can increase along with the confirmation of a breakout.
July 10 is the highest growth of bitcoin since 2018 and no wonder this time for the second time of attempting market capitalization of this coin will reach the highest point aginOn 10 July Bitcoin want to break the resist but failed. And this time it happens again. I hope good news today so the volume can increase along with the confirmation of a breakout.
And maybe if does this will be the beginning of the real bullrun and no manipulating involvement because people now are sick of this whales strategies and always taking investors money
I wonder if Btc will hit 80% or above again.
History is repeating, but it is tougher now to do that
History is repeating, but it is tougher now to do that
It only means that cryptocurrencies is only used for speculation. And the best crypto is Bitcoin for speculators. Technology/transaction speed/transaction cost and the use of an altcoin doesn't matter for speculators. What is important is to get more fiat currency or more bitcoin when bitcoin is at a low price. It is sad for innovative tech companies in crypto. If they don't depend on their coin/token, they can still survive.
Very soon, the dominance of bitcoin will caught across the entire cryptocurrency space, and bitcoin will be able to dominate all the markets, both stock market, and Forex market will be a child to bitcoin market. Altcoins are just another child’s play which I see a lot of them just wasting their time, most especially those altcoins that keep sclaiming at displacing bitcoin and promising that they have a better features and future than bitcoin.
Bitcoin system is unstoppable, and the way bitcoin is going, I am sure that world government will one day deliberate on it to see if it can become global currency, and I think that many countries are gradually realizing that bitcoin is not a threat to them as much as they think it is, so this dominance just started, more percentage will be documented.
Bitcoin system is unstoppable, and the way bitcoin is going, I am sure that world government will one day deliberate on it to see if it can become global currency, and I think that many countries are gradually realizing that bitcoin is not a threat to them as much as they think it is, so this dominance just started, more percentage will be documented.
Actually its good for crypto in general and for btc hodlers
I can't agree with that, it's only good for BTC but if you look at closely, you will see how altcoins struggle to increase, some even loss 90% of it's value and when an asset lose that much, it badly needs to recover, otherwise it will just die and it will not recover until BTC does not loses it's dominance so people will put some of their money in altcoins. Then altcoins will move after that. Just wait, relax and don't panic.
With bitcoin as the most dominant coin right now, this would be good news.
But for holder altcoin, be prepared because most of the altcoin will drop due to the dominance of Bitcoin.
But for holder altcoin, be prepared because most of the altcoin will drop due to the dominance of Bitcoin.
Well after too many shitty and unsuccessful project, btc dominance is rising and rising.
It seems, investing in alts was a bad idea but it is too late now.
It seems, investing in alts was a bad idea but it is too late now.
Given the increase in the dominance of Bitcoin and the recent decline in the entire crypto market, the Altseason may not be going up in price in the near term. In the current situation for an altcoin is not safe for investment, because the price still there is likely to be dropped.
Not all altcoins, it depends on a certain altcoin, if the altcoin you are investing is known to be a legit one and it has dump many times already, that is an opportunity for me, altcoins will eventually rise although we don't know yet when but it will never be worthless if it's a legit coin.Computing it's probability to go down further against it's recovery, I would say recovery is most likely will happen.
It is just frightening, because there is just no space for altcoins to grow. No wonder that ETH is still below 250 dollar, while BTC is smashing 12k level. But you do not have to worry, because it always comes to the point when BTC dominance falls.
What is so scary about this? We have already seen 70% before and I have even seen 80%,,, it is Bitcoin that should be afraid that after all this struggle it can only recover back 70%. But of course,,, this is actually showing how stubborn Bitcoin is, rather than how good alts are. And the reason why Bitcoin is always the winning bet in crypto.
Technically, 70% is a very very strong level. During BTC ATH the dominance was at these level and these levels act as a strong resistance. But as you know, speculation is the name of the game.
Actually its good for crypto in general and for btc hodlers
I can't agree with that, it's only good for BTC but if you look at closely, you will see how altcoins struggle to increase, some even loss 90% of it's value and when an asset lose that much, it badly needs to recover, otherwise it will just die and it will not recover until BTC does not loses it's dominance so people will put some of their money in altcoins.
All of this happened because of the price stability that bitcoin has, and everyone who has invested money in bitcoin will be very happy to see this development.
Actually its good for crypto in general and for btc hodlers
Nothing special to that, BTC dominance will continue to increase as altcoins will suffer but that doesn't mean it will continue to hold that dominance forever, still crypto is very unpredictable, we might see some good surprise in the long run like the old dominant rate of BTC which is at sub 30% and that resulted to a healthy overall market.
It is just frightening, because there is just no space for altcoins to grow. No wonder that ETH is still below 250 dollar, while BTC is smashing 12k level. But you do not have to worry, because it always comes to the point when BTC dominance falls.
But you must remember if this time the situation is much different compare with 2017's situation. ether loss demand in the ICO and no more icos are using ethereum to funding its project and this gives a huge impact to the price of ethereum after 2017 and this year it looks like ether is not even going so much with the bitcoin almost touch 12k level again. This is a big problem for ethereum when bitcoin keep increase in its dominance and altcoin still lost its value.
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