BTC Dominance increases again and what happened to altcoin? - page 2.

Yamifoud

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Quote from: lousie9 on February 08, 2021, 06:47:55 AM

Of course we all hope like you pick point 1, after BTC reaches its highest peak price or reaches a new ATH and after that changes to the Altcoin season. However, currently the BTC market dominance is still increasing, especially ETH which follows the BTC price movement itself. I hope that happens to some of the other top altcoins too, especially with some of the newer coins I own as well

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.

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don't see the upward movement of the btc dominance it only increased 1% from the previous and today it fell back to 59%.
So you can't see the price of BTC going up because its dominance is still low.
and if some time in the future it is still down, then the opportunity for altcoins to go up will be even greater.

Patience, surely you must have learned to be patient by now right? This is Bitcoin, where 90% of the time is spent below the highs, and new ATHs are very rare in between. We're still in a rally now in case you forgot, with many times where corrections and retracements are allowed to happen before each new step up.

lousie9

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Of course we all hope like you pick point 1, after BTC reaches its highest peak price or reaches a new ATH and after that changes to the Altcoin season. However, currently the BTC market dominance is still increasing, especially ETH which follows the BTC price movement itself. I hope that happens to some of the other top altcoins too, especially with some of the newer coins I own as well

trauchot

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The dominance of bitcoin should be big because bitcoin is the king of cryptocurrencies and so far the dominance of bitcoin is 61% and this is still not enough, but if it will become more, then eventually altcoins will most likely begin to fall in price and bitcoin will begin to grow, and then most likely bitcoin dominance again will go down and altcoins will begin to rise in price, so we should constantly monitor the cryptocurrency market to know what is happening in it, because everything can change very dramatically.

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Quote from: takngantuk on February 07, 2021, 09:08:03 PM

I don't think the altseason will happen when bitcoin dominance is still high. so the worst possibility is that when bitcoin reaches a new ATH, there will be a big bear after it. this will probably be even more severe than the market crash of a few years ago. as long as bitcoin dominance is high, altcoins will not get bullrun. only top altcoins such as eth, dot, and others can enjoy this increase.

Bitcoin dominance is high, but it is decreasing. December 2020 it was above 65% if I'm not mistaken, and not it is around 50%. Now Ethereum starts to win positions on the market. In my opinion, Bitcoin will slowly loose its dominance, but part of the market will be taken only by few altcoins, such as Ethereum, BNB and some cheap and quick blockchain representative, like Tron or Stellar (as people will get tired of high ETH commissions, and will try to replace blockchain to a cheaper one). But no altseason will start.

shoreno

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Quote from: Distinctin on February 08, 2021, 02:29:42 AM

Quote from: aprilnot on February 07, 2021, 11:28:04 PM

every time bitcoin dominance increases, there is nothing good for altcoins. so I'm sure that's not a good sign. bitcoin dominance is sometimes bad for the altcoin trend. so there's no way this could trigger the altcoin season. If seen this is only good for crypto that is in the top ranks, the rest are depreciating and unable to enjoy bulls.

Not worrying about if those worthless coins will drop because, in the first place, it is so long that has been dead already.
Investors will buy Bitcoin and might dump it by tomorrow then invest back to altcoins. This what we could see in the coming days, after Bitcoin surging high, altcoins will slightly dump but forgoing, it gets to keep the momentum and soar high again.
I don't have to worry about Bitcoin will dominating the market because since before, that was supposed to see, there is nothing change and so the market behavior.

whos dead ? the shitcoins ? if they are dead they wont be in the exchange anymore but as long as the coin is in the exchange and has a value theres always a chance that it will got infected if ever there will be an altcoin season that will happen and if investors can dump btc why will they wont invest again on it than getting altcoins ?

we dont need to worry when btc dominates the entire market but the should be happy and proud of it than seeing useless coins rise

OasisDre

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Not every altcoins are showing good sign right now, only very useful altcoins are in greenish mode, the only coins that remains profitable is Bitcoin and Ethereum, others are following too but what's coming next is still unclear, either real altcoin season will come or not I don't know, for now all my bets are on bitcoin

Distinctin

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Quote from: aprilnot on February 07, 2021, 11:28:04 PM

every time bitcoin dominance increases, there is nothing good for altcoins. so I'm sure that's not a good sign. bitcoin dominance is sometimes bad for the altcoin trend. so there's no way this could trigger the altcoin season. If seen this is only good for crypto that is in the top ranks, the rest are depreciating and unable to enjoy bulls.

Not worrying about if those worthless coins will drop because, in the first place, it is so long that has been dead already.

Investors will buy Bitcoin and might dump it by tomorrow then invest back to altcoins. This what we could see in the coming days, after Bitcoin surging high, altcoins will slightly dump but forgoing, it gets to keep the momentum and soar high again.

I don't have to worry about Bitcoin will dominating the market because since before, that was supposed to see, there is nothing change and so the market behavior.

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if bitcoin price is dominant, then there are 2 things that I also think about.

the first is, when the price of bitcoin is very high, it is also easy for altcoins to reach the new ATH. although the altcoin season has not arrived, the slow increase that occurs in different altcoins can make their prices very high due to the influence of the very high price of bitcoin.

the second is, when the price of bitcoin is dominant, and it gets really high, it is also quite risky for an altcoin that has not yet developed. however, when the price of bitcoin is declining due to the dominant upward influence, it can cause a decrease that is sufficient for the holders of the altcoin whose price has not gone up yet.

bryant.coleman

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The Bitcoin dominance has actually gone down by close to 10% during the last 1-2 months (from 71% to 61%), and most of the gains went to altcoins. Some of the altcoins have shown a much higher ROI compared to Bitcoin during the last 6 months. For example, Cardano has gone up by 700%, and Ethereum has gone up by almost 500%. In general there is a feeling in the market that these coins went down by too much during the bearish phase of 2018. So the recovery is being seen as natural.

aprilnot

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every time bitcoin dominance increases, there is nothing good for altcoins. so I'm sure that's not a good sign. bitcoin dominance is sometimes bad for the altcoin trend. so there's no way this could trigger the altcoin season. If seen this is only good for crypto that is in the top ranks, the rest are depreciating and unable to enjoy bulls.

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It seems that the market has changed again and the price of Bitcoin has fallen. Maybe as the Chinese New Year approaches. The market will be sideways. Wait until the market starts to be active again from February to March this year. Is the real bull market coming? Look forward to.

The chines new year doesn't have any correlation with it. Bitcoin is only trying to break the resistance but it's failed to surpass the key point to increase even more than this time. The market is always active anytime. The bull trend is still happening and why do we need to wait for another bull trend to happen?
People are so crazy to think any dump will always have a correlation with the event that happened in our life.

I do agree with the first point pointed out by the creator of this thread.

takngantuk

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I don't think the altseason will happen when bitcoin dominance is still high. so the worst possibility is that when bitcoin reaches a new ATH, there will be a big bear after it. this will probably be even more severe than the market crash of a few years ago. as long as bitcoin dominance is high, altcoins will not get bullrun. only top altcoins such as eth, dot, and others can enjoy this increase.

Iyeman

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Quote from: bct-user on February 07, 2021, 06:47:40 PM

Maybe it will effect to the drop in altcoins' prices, but I think it won't be a long time.

The downtrend for altcoin is just temporary and it will make altcoin goes down to the dip price. After the bitcoin pump and altcoin will be coming back again with big pump. We have seen that happened last month when bitcoin gets stabilized and altcoins were starting its season and the majority of legit coins got doubled or even tripled.
The shorter dump may happen but I'm not sure that will always be the impact from the bitcoin pump.

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Quote from: bct-user on February 07, 2021, 06:47:40 PM

Maybe it will effect to the drop in altcoins' prices, but I think it won't be a long time. The increase of Bitcoin price will lead to the low demand in altcoins, so in the few days the price of most altcoins probably to decrease rather significant. But we don't need to be panic, just hold and keep calm. We wait to the next soar to trade again altcoins.

The effect on altcoins is likely to be positive for the potential coin but for shitcoins, it is really harsh. Why I'm saying the positive effect is because we know that many investors can't afford to buy Bitcoin at this price, they will drop to the altcoin market.

And if we are thinking the demand will getting low, not exactly. Crypto investors will not hold their eggs in one basket so they will definitely choose potential altcoins. But this is what I always think about the market, they will go together, make another ATH together. So I think we need to accumulate more altcoins now before another Bullrun comes again.

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Quote from: bct-user on February 07, 2021, 06:47:40 PM

Maybe it will effect to the drop in altcoins' prices, but I think it won't be a long time. The increase of Bitcoin price will lead to the low demand in altcoins, so in the few days the price of most altcoins probably to decrease rather significant. But we don't need to be panic, just hold and keep calm. We wait to the next soar to trade again altcoins.

I wouldn't say it will result to low demand in altcoins, but perhaps if you are talking about shitcoin then yes. But for most altcoins in the top 20, there could still be demand even if bitcoin's dominance is high. After all these altcoins are either a prime mover, or have some utility that people are using so the demand could still be there.

The problem is that majority of altcoins are just being use to pump and dump and then once they are done, they are going back to bitcoin market and so the dominance continue to grow.

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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

.

You don't need to wonder if Altcoins will rise as Bitcoin also rising. For the fact that they are in the crypto world, this is likely to happen, they are working together.

We are more positive that Bitcoin will be hitting $50,000. And so much hopeful as well that altcoins will follow the path and making another great history. And I hope nobody misses this massive growth coz it comes not all the time.

bct-user

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Maybe it will effect to the drop in altcoins' prices, but I think it won't be a long time. The increase of Bitcoin price will lead to the low demand in altcoins, so in the few days the price of most altcoins probably to decrease rather significant. But we don't need to be panic, just hold and keep calm. We wait to the next soar to trade again altcoins.

TimeTeller

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Quote from: Danslip on February 07, 2021, 04:00:18 PM

BTC is increasing and it seems BTC will not stop. There will be some effects on altcoins, but to tell the truth, the situation will not be the same for every altcoin. l mean BTC price increasing affects so good the price of ETH and maybe other top altcoins, about other projects it is not same. On the other hand l hope, altcoins season will happen in the near future, in my view, we should wait for this time.

Because not all alts are worth in the market. That's why only few can keep up with bitcoin.
Most alts have their own fate as it entirely depends on their respective devs.
It doesn't depend on btc market but how the devs are progressing with their developments.
That's why most alts don't follow the trend of bitcoin because they have their own little world to follow.

bitkanu

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About point 1 and that depends on bitcoin, the dominance of bitcoin increases a lot but it doesn't mean altcoin will be always following it. Sometimes the opposite thing is happening.
I should remind you that when bitcoin increases and altcoin can go down or stabilize (lose in term of bitcoin pair)

I think that point 1 could happen but about point 2 will be happening when the bearish trend will come.

Topic: BTC Dominance increases again and what happened to altcoin? - page 2. (Read 461 times)