BTC Dominance increases again and what happened to altcoin?

Viscore

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Quote from: skarais on February 21, 2021, 03:32:20 PM

Quote from: Jamesdila1 on February 21, 2021, 03:13:16 PM

Short-term it is bad for altcoins but long term it is good.

It shouldn't make much difference between existing cryptocurrencies. In the short term, you can still profit from the trade you make in altcoin and you just have to know when to buy. Many day trader profit from the activities they do, so there are no restriction even though in the long run there are any altcoin that have great potential.

Long term or short term, both gives us an opportunity to earn but in terms of stability, bitcoin is always the best since although altcoins season has come, bitcoin is still dominating the market with 60% rate now, and I think it will not drop below 50% and will continue to dictate what the market movement in the future.

Quote

Don't compare altcoin to what bitcoin has achieved in the long term, you probably won't see many altcoin are better to hold in the long term.

I agree but in terms of profitability, altcoins has so much room to grow but the risk is high.

KimmyF

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Quote from: Handsome Boy on February 06, 2021, 08:23:52 AM

today we see BTC Dominance increase to 61.9% and this gives us two possibilities, that is :
1. we will see the price of BTC will make its new ATH price and after the price of BTC makes a new ATH price, then there will be an altseason (bull run for altcoin)
2. after the bull run in Bitcoin (Bitcoin price increased very high and created a new ATH price), then what happens next is the market experiences a bear run (the price of altcoin goes down)

then what do you think will happen? and if I personally hope point 1 will happen Grin

.

As you joined us, you have enough experience. Nothing will stay forever (bear or bull). Almost 3 years have passed since the time was bear. Now we need a bull market. In my research we're in the bullrun, but the problem is anytime could start a bear market. During the last bullrun Bitcoin dominance decreased to 40-45 percent, which was an insane time for altcoins.

StephenJH

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Quote from: magnum cyber on February 08, 2021, 07:58:56 AM

when bitcoin dominance increases, there is a high chance that altcoins will follow the flow of bitcoin price movements. and currently some altcoins are following the domination of btc like Eth and BNB and maybe there are many other coins that I don't know about.

BTC movement will affect so good on other cryptocurrencies price, you are definitely right there is huge chance to make a profit from your investment in the near future. l would say it is the best time to collect some coins. ETH and BNB follow BTC moving and both of them are increasing. There are also other projects which have a really good chance to be among the best altcoins. l think we should make choices from 200 top list altcoins. In my humble opinion, they have more chances than compared other cryptocurrencies.

skarais

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Quote from: Jamesdila1 on February 21, 2021, 03:13:16 PM

Short-term it is bad for altcoins but long term it is good.

It shouldn't make much difference between existing cryptocurrencies. In the short term, you can still profit from the trade you make in altcoin and you just have to know when to buy. Many day trader profit from the activities they do, so there are no restriction even though in the long run there are any altcoin that have great potential.

Don't compare altcoin to what bitcoin has achieved in the long term, you probably won't see many altcoin are better to hold in the long term.

CashbackLover

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Bitcoin dominance increasing means bitcoin bulls aren't done yet, it means there are still some adrenaline juice left in the big boy, anyways this will also help lots of altcoins to surge higher most especially ethereum, I don't think there is any reason to wait for altcoin season anymore, if btc keeps going altcoins will surely follow either dominance increases or not

Jamesdila1

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Short-term it is bad for altcoins but long term it is good. The more dominant bitcoin is, the higher it's purchase power is. It also suggests that we are in an uptrend. So eventually investors will want to buy altcoins because their bitcoin will have huge purchase power

kindbtc

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Quote from: Handsome Boy on February 06, 2021, 08:23:52 AM

today we see BTC Dominance increase to 61.9% and this gives us two possibilities, that is :
1. we will see the price of BTC will make its new ATH price and after the price of BTC makes a new ATH price, then there will be an altseason (bull run for altcoin)
2. after the bull run in Bitcoin (Bitcoin price increased very high and created a new ATH price), then what happens next is the market experiences a bear run (the price of altcoin goes down)

then what do you think will happen? and if I personally hope point 1 will happen Grin

.

I think if we analyse previous bull cycles we will see that when btc goes fully parabolic then the price moons insanely alongwith the marketcap and dominancy so this time also im expecting btc dominancy to grow over 80% and btc peaking over 300k before alts follow and go parabolic.

lumierre

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You cannot compare the crypto markets of 2017 and 2021. These are two sites that are completely different in their content. In the 2017 season, everyone bought coins, even those who did not understand and did not want to understand what the crypto world was, but perceived it as an option to make money quickly.
The current position of the market was occupied only thanks to innovative projects that interested large investors, who raised the idea of cryptocurrencies to a new, higher and more progressive level. Now cryptocurrency is a real fight for a place in the ranking, competition.

Kemarit

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I guess there's no more correlation between Bitcoin's dominance and altcoin's bull run.

The rally of today is very much difference in 2017, back then for altcoin to make a a run, it needs to trim down Bitcoin dominance to less than 50%. But now is different, bitcoin is still in the high 60% and yet most of the altcoin is already enjoying their bull run already breaking grounds and surpassing their old all time highs. The market has definitely evolved now.

MWesterweele

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Quote from: Casdinyard on February 08, 2021, 11:33:28 AM

At this moment, some altcoin are also having price increase but I still doubt that a correlation exist such that Bitcoin's market value is directly affecting the market price of the alts. Wherein there are times one is increasing, and the other one is either neutral or decreasing. There are also times wherein both are either falling or in upward motion. The market price is just dependent with the demand itself as well as the market volume. Dominance over the other one? Well I guess that's not how the market prices, work. I do view it as a market movement in general, and not mainly dependent to only one crypto.

I remember the day i enter the world of cryptocurrency, bitcoin was already the dominant crypto and next on the list was the ethereum. And now, we still witnessed the dominancy of bitcoin and it consistent because as time goes by the probability of consistent dominance of bitcoin increases because of how it reacts to the crypro market now. Bitcoin are keep on soaring, but what i have observed a good thing that happened to altcoin was some altcoins are also increases their market value as bitcoin goes up. Though it isn't that high compare to bitcoin, but i guess i am satisfied seing a market of altcoin in a green arrow indicator.

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Quote from: Handsome Boy on February 06, 2021, 08:23:52 AM

today we see BTC Dominance increase to 61.9% and this gives us two possibilities, that is :
1. we will see the price of BTC will make its new ATH price and after the price of BTC makes a new ATH price, then there will be an altseason (bull run for altcoin)
2. after the bull run in Bitcoin (Bitcoin price increased very high and created a new ATH price), then what happens next is the market experiences a bear run (the price of altcoin goes down)

then what do you think will happen? and if I personally hope point 1 will happen Grin

.

I think btc price is yet to go real parabolic and when that will happen the value of btc will go insane and domimancy of btc cam also go over 80% but the best thing is that the alts will also follow and increase in value later so if you are holding top alts you can expect great returns in few months.

isaac_clarke22

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Quote from: Handsome Boy on February 06, 2021, 08:23:52 AM

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That's likely though I don't have the statistics on the probability on how many alts could surely followup the increase in price, but it is indeed a common mindset for people to speculate that alts tend to follow once Bitcoin increases in price.
However it goes at its lowest as well when Bitcoin goes down, it is massive dump/bear season for alts.
Nobody knows what will happen next. It's like a toss coin.

budi12

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Quote from: Handsome Boy on February 06, 2021, 08:23:52 AM

today we see BTC Dominance increase to 61.9% and this gives us two possibilities, that is :
1. we will see the price of BTC will make its new ATH price and after the price of BTC makes a new ATH price, then there will be an altseason (bull run for altcoin)
2. after the bull run in Bitcoin (Bitcoin price increased very high and created a new ATH price), then what happens next is the market experiences a bear run (the price of altcoin goes down)

then what do you think will happen? and if I personally hope point 1 will happen Grin

.

everyone would expect point 1 to happen soon on the market exchange. because many people only hold altcoins rather than bitcoins. and I also believe that in the middle of this year it will be a good trend for altcoins. there will be altcoins following bitcoin's footsteps to the moon. so please buy some bitcoins from now on to get profit in the future.

LostConfidence243

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BTC is dominating this concept is completely right at all. The cryotocurrency market is always changeable and unpredictable, The BTC price was high a few days ago and is has still high price on compare of the CMC. There are 61.9% up dominating persistence in this present situation. So, I personally love to say Forex traders will be achieve huge experience from this incident. Keep looking in this market and get huge profit experience.

Vatimins

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I really find it hard to read your post but I kind of got you point. And it is pretty clear that you quite understand how the industry works and that's nice. But just keep in mind that sometimes, this industry f*cks you up with price movements that don't have any logic. So people should still exercise caution in making investments in this industry.

As for me, im this close to pulling out funds on my alts if the trend continues. Then buy back as bitcoin drops, alt season is almost here and basing on past experiences, it comes mostly anywhere within the second quarter. (This is not a financial advice, I just want to be clear about that hehe)

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Quote from: FanEagle on February 08, 2021, 11:12:22 AM

...I am expecting 50k from bitcoin. In order for altcoins to make a profit, you need to look at the fiat situation, ethereum profited so much from fiat for example, we are talking about over 10x increase in a year, that is really unbelievable, so if you want to invest into any altcoin, you have to look at prices for fiat and you could be happy about how we have managed to make so much profit in fiat, if you focus on bitcoin profits, you may not be so much happy.

In a bull market, it is better to fix not in USDT, but in BTC. Then, when you exchange for a fiat currency, the profit will exceed your expectations. But in any case, this race will not be eternal and you need to regularly fix your profit or use a stop loss, so as not to lose what you have already earned.

Casdinyard

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At this moment, some altcoin are also having price increase but I still doubt that a correlation exist such that Bitcoin's market value is directly affecting the market price of the alts. Wherein there are times one is increasing, and the other one is either neutral or decreasing. There are also times wherein both are either falling or in upward motion. The market price is just dependent with the demand itself as well as the market volume. Dominance over the other one? Well I guess that's not how the market prices, work. I do view it as a market movement in general, and not mainly dependent to only one crypto.

FanEagle

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Quote from: Yamifoud on February 08, 2021, 07:55:40 AM

The hopes still there, altcoins will also do the rally if Bitcoin does but the question about new altcoins, it is something hard to answer, not unless if they have a good support system.
Now, if we are choosing altcoins for an investment, it is a good choice to take the old ones. Liquidity is a big factor to think that we can generate profit once the market rises again but much more to put a huge amount into Bitcoin than these altcoins.

As we look into the market chart now, the hype is really serious and I feel that we are breaking the $42,000 making new ATH.

That hype is definitely helping altcoins as well, we are not doing that bad and we should probably doing a lot better very soon as well, because bull season is still going on and after all that period of nearly one month going back and forward of 29k levels to 35k levels, we are finally above that and increased so lovely, we are finally doing great and we will probably keep going great for a while longer.

I am expecting 50k from bitcoin. In order for altcoins to make a profit, you need to look at the fiat situation, ethereum profited so much from fiat for example, we are talking about over 10x increase in a year, that is really unbelievable, so if you want to invest into any altcoin, you have to look at prices for fiat and you could be happy about how we have managed to make so much profit in fiat, if you focus on bitcoin profits, you may not be so much happy.

Kocret02

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Altcoin bull run still happens, just look at ethereum has increased. although the increase is not as significant as bitcoin but there is already a real impact from the influence of bitcoin for altcoins. so I think this creates a new ATH for altcoins and hopefully in the future it can be higher for the increase in altcoins.

magnum cyber

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when bitcoin dominance increases, there is a high chance that altcoins will follow the flow of bitcoin price movements. and currently some altcoins are following the domination of btc like Eth and BNB and maybe there are many other coins that I don't know about.

Topic: BTC Dominance increases again and what happened to altcoin? (Read 461 times)