Topic: BTC Dominance on CoinMarketCap (Read 2390 times)
I think many will concur that Bitcoin won't change in movement with its strength regardless of whether some Altcoin will come nearer to it, I truly imagine that this can not be a subject any longer it is pretty clear that it won't transform anything other than I surmise there is a particular thing for other altcoins that is for a change and different dealers do cherish the instability in it and an agreeable modest cost from every other coin, So as I would see it regardless of whether Bitcoin takes the middle stage in the Coinmarketcap Altcoins will sure have a spot for merchants and speculators the same regardless of whether they didn't wind up in the top.
Since you mentioned previous mistakes by Coinmarketcap I started thinking about the fake data that is sent to them by exchanges.
Until recently p2pb2b claimed to be the biggest exchange in the world and sent fake trading data volumes of over $1.1 billion to Coinmarketcap so that must have contributed to the current +67% Bitcoin market dominance.
I guess the dominance percentages cannot be taken at face value.
Until recently p2pb2b claimed to be the biggest exchange in the world and sent fake trading data volumes of over $1.1 billion to Coinmarketcap so that must have contributed to the current +67% Bitcoin market dominance.
I guess the dominance percentages cannot be taken at face value.
Market capitalization is based on the price and circulating supply of the coins, and it is not dependent on the data from any exchange. You can argue that p2pb2b was rigging the trade volumes. But it has no impact on the circulating supply, or on the market capitalization of the Bitcoin. It is not possible to change the circulating supply (unless there is a hard fork). On the other hand, if the prices were rigged, then you can argue that the data is wrong. But as of now, there is no evidence for the same (and it is almost impossible to manipulate the price).
Today the dominance of Bitcoin in the market is 61.1%, it has dropped 0.9% according to when this thread was created a few months ago. Perhaps it is due to the growing market of the DeFis but it does not stop surprising us to see the great support that Bitcoin has in the market. Bitcoin for Bitcoiners is a range of possibilities despite its volatility.
it will only decrease to help the altcoins to grow because with the current rate of BTC
Considering there are thousands of coins and tokens out there, what sort of dominance should Bitcoin have which shows that even though it remains the dominant force there is still a lot of space for others to narrow the gap?
Currently the BTC Dominance according to CMC is: 62.6%
Currently the BTC Dominance according to CMC is: 62.6%
During mid-2017, the dominance was down to 33% and Ether was closely behind with 31% (BTC lost a large chunk of the market share when BCH forked out). But even then, Bitcoin was the most dominant coin out there. Now the market share has grown by almost 2x from those levels and we don't need to worry about the future of Bitcoin anymore.
I never knew BTC dominance ever fell that low and ETH was ever that close behind it. Ethereum will increase in its price and capital even though others are offering smart contracts too and it seems as time went by BCH started to devalue and Bitcoin just rocketed in its dominance.
I'm expecting Bitcoin dominance to reach 80% perhaps 90% and stay there for all 2020. After that we will have a clear picture of surviving and abandoned altcoins.
I'm just hoping coinmarketcap removes at least 2 thousand of them.
I'm just hoping coinmarketcap removes at least 2 thousand of them.
Then it will need a marketcap of over $200bln to achieve that presently. But I don't think a dominance of 80-90% would happen because there are also other altcoins with potentials that would want to also maintain their own dominance too.
And don't hope for CMC to remove 2000 altcoins from the market list without any reason.
Bitcoin will always be the number one crypto in coinmarketcap or in any crypto ranking site.
We already know more about that mate, we are trying to know the reason or reasons behind it dorminance in the world of cryptocurrency. First and foremost, it's the first decentralized digital currency among others that brake the ground for cryptocurrency communities to be know, and also, it's privacy has no rival as such many investors and gambler's are in love with the coin. Bitcoin is the first name you come to know before venturing into the world of cryptocurrency.What are your views about the percentage of dominance Bitcoin could or should have in order to comfortably remain at the top of the list while at the same time allowing crypto space to grow? It currently stands at around 67% which means around 33% constitutes of the other crypto.
Do you think that is sustainable?
The Bitcoin dominance is down to 67.5%, which is around one percent lower than what we had 24 hours back. And surprisingly it is not established altcoins such as Ethereum or Litecoin that is giving the biggest challenge to Bitcoin in its quest to dominate the cryptocurrency market. The coin which had the highest 24 hour price change (among the top 10) was Bitcoin Cash, which went up by 7%.
Both Ethereum and Litecoin have not managed to breach the major resistance levels. Ethereum is still trading at 0.0198 BTC per coin, while Litecoin is trading at 0.0063 BTC per coin. XRP is performing well, and has reached a price of 3222 Sat. Out of these three coins, only XRP has managed to move forward during the last 1-2 months. Others have all lost their value against BTC.
Bitcoin always dominance in coinmarketcap because almost investor just looking with bitcoin as investment than altcoin, they have big interested with investing on bitcoin than altcoin. Bitcoin can give higher chance profit than altcoin although every day with several percent for earning profit with bitcoin investing, with altcoin maybe waiting for long time to get profit and big risk when altcoin price down.Both Ethereum and Litecoin have not managed to breach the major resistance levels. Ethereum is still trading at 0.0198 BTC per coin, while Litecoin is trading at 0.0063 BTC per coin. XRP is performing well, and has reached a price of 3222 Sat. Out of these three coins, only XRP has managed to move forward during the last 1-2 months. Others have all lost their value against BTC.
I agree with your opinion that bitcoin always dominates the market. I think it's all because Bitcoin is still a favorite coin that can benefit investors. maybe investors assume that bitcoin has a more beautiful future than altcoin. and maybe also investors assume that altcoin is a lot of rubbish, so they will prioritize choosing bitcoin over altcoin, because surely they assume that holding altcoin carries a greater risk than bitcoin.
it's difficult to minimize the dominance of bitcoin. there are currently no more than 10%. even if all altcoins are combined there is still a long distance. it's difficult to minimize the dominance of bitcoin. there are currently no more than 10% coins. even if all altcoins are combined there is still a long distance.
You wrote that sentence twice?
Bitcoin dominance in the market is keeping its decisive condition now. It is around 8 times bigger than its closes rival Ethereum. It seems that Bitcoin will continue to dominate the market for a long time.
The Bitcoin dominance is down to 67.5%, which is around one percent lower than what we had 24 hours back. And surprisingly it is not established altcoins such as Ethereum or Litecoin that is giving the biggest challenge to Bitcoin in its quest to dominate the cryptocurrency market. The coin which had the highest 24 hour price change (among the top 10) was Bitcoin Cash, which went up by 7%.
Both Ethereum and Litecoin have not managed to breach the major resistance levels. Ethereum is still trading at 0.0198 BTC per coin, while Litecoin is trading at 0.0063 BTC per coin. XRP is performing well, and has reached a price of 3222 Sat. Out of these three coins, only XRP has managed to move forward during the last 1-2 months. Others have all lost their value against BTC.
Bitcoin always dominance in coinmarketcap because almost investor just looking with bitcoin as investment than altcoin, they have big interested with investing on bitcoin than altcoin. Bitcoin can give higher chance profit than altcoin although every day with several percent for earning profit with bitcoin investing, with altcoin maybe waiting for long time to get profit and big risk when altcoin price down.Both Ethereum and Litecoin have not managed to breach the major resistance levels. Ethereum is still trading at 0.0198 BTC per coin, while Litecoin is trading at 0.0063 BTC per coin. XRP is performing well, and has reached a price of 3222 Sat. Out of these three coins, only XRP has managed to move forward during the last 1-2 months. Others have all lost their value against BTC.
I agree with your opinion that bitcoin always dominates the market. I think it's all because Bitcoin is still a favorite coin that can benefit investors. maybe investors assume that bitcoin has a more beautiful future than altcoin. and maybe also investors assume that altcoin is a lot of rubbish, so they will prioritize choosing bitcoin over altcoin, because surely they assume that holding altcoin carries a greater risk than bitcoin.
CMC once had mistakes and was condemned by the community. However, it is still an indispensable part of the market for related data references. Nothing really accurate with the current data. Some exchanges have prevented additional data on CMC. Bitcoin is superior and will account for the highest proportion, behind it, many of the altcoin is in the bottle cap.
Since you mentioned previous mistakes by Coinmarketcap I started thinking about the fake data that is sent to them by exchanges.
Until recently p2pb2b claimed to be the biggest exchange in the world and sent fake trading data volumes of over $1.1 billion to Coinmarketcap so that must have contributed to the current +67% Bitcoin market dominance.
I guess the dominance percentages cannot be taken at face value.
There was a time that Bitcoin’s dominance had fallen years ago but now it has risen again to 67 percent which is not that surprising really considering that it is the usual market movement in cryptocurrency. Before the birth of ethereum I think the Bitcoin dominance is around 90 percent if I remember correctly.
The dominance of bitcoin now is a bit too high so the alt coin got a difficulty to grow, the good percentage dominance is about 30-40% so there are plenty room for alt to grow, but this dominance is not too bad, the higher dominance mean btc will got a better value
It will change. It is always changing. It so happened that the more aggressive as of the moment, and of the past days actually, is Bitcoin. The dominance reflects which is more bullish. By the time the altcoins will start flying, expect the dominance to lower down. As you said, Bitcoin might be dominating on 40% more or less during the alt season.
Do you see its dominance falling to 40% at any time soon?
What I noticed during the past month where Bitcoin went from above $7000 to around $10,000 was that other crypto was not rising and falling the same way Bitcoin does percentage-wise.
It is Bitcoin that carries the whole market and at time of writing it has over 67% dominance with no sign of it going lower.
I'm expecting Bitcoin dominance to reach 80% perhaps 90% and stay there for all 2020. After that we will have a clear picture of surviving and abandoned altcoins.
I'm just hoping coinmarketcap removes at least 2 thousand of them.
I'm just hoping coinmarketcap removes at least 2 thousand of them.
Considering there are thousands of coins and tokens out there, what sort of dominance should Bitcoin have which shows that even though it remains the dominant force there is still a lot of space for others to narrow the gap?
Currently the BTC Dominance according to CMC is: 62.6%
Bitcoin is still the most potential coin in the market inspite of lot of developed altcoins.It attracts more investors which boost the prices and volume of bitcoin and make it top the charts on coinmarketcap.The dominance will increase with passage of time and adoption at global level making market cap more higher. Currently the BTC Dominance according to CMC is: 62.6%
I think there won't be another crypto currency in the future (2020-2030) weighing EVEN 40% (or less) of total market cap, it is also very unlikely. in my opinion the currencies that are going to dominate, are the ones that have acquired the highest adoption rates, most developers, most followers, users, members, contributors and etc. And we know Bitcoin is king of them and it would be treated as gold compared to other cryptocurrencies.
Bitcoin has the largest market cap and even though I don’t see it growing as quickly percentage-wise as some of the others, it’s grown so much that I expect it to remain dominant. maybe 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, then eventually investors will want to buy altcoins because their bitcoin will have huge purchase power.
Bitcoin has the largest market cap and even though I don’t see it growing as quickly percentage-wise as some of the others, it’s grown so much that I expect it to remain dominant. maybe 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, then eventually investors will want to buy altcoins because their bitcoin will have huge purchase power.
That domain has risen to 67.5% at present, we do not know if that percentage will increase or decrease,
The dominance will increase more as the price continues to increase. It will always dominate when the percentage decreases or increases because it's the first crypto currency and always the first coin most newbie always learn of. 
The Bitcoin dominance has fluctuated in recent weeks in a rage of 62-70%. It depends in my opinion on the performance of the BTC in which direction the market is developing. The evolution of Altcoin courses is still too dependent on the BTC price
Bitcoin never have competitor for take dominance in coinmarketcap, how ever thousand altcoin listed in exchange and coinmarketcap bitcoin still dominance on coinmarket cap because bitcoin is the main of altcoin, almost altcoin depend with bitcoin and dominance bitcoin never can stop by any altcoin, bitcoin still dominance today with percentage more than 67% and will be higher again every time. How can you be so sure? That is a bold statement to make.
Maybe a competitor will dethrone it in a few years or so. I keep an open mind about this.
Maybe a competitor will dethrone it in a few years or so. I keep an open mind about this.
Bitcoin's path is clear, which is to function as store of value. It's gaining adaption on a daily basis as being that. Optionally, LN might also add utility in form of instantly and near free transactions.
I add more importance to a store of value than anything else-- cheap and fast day to day transactions are likely going to be taken over by centralized stable coins because they work as money and do that today already.
We have had tons of altcoins with each a different utility and roadmap, but none of them signal that there is actual demand for them. Crypto as a whole is just overhyped, so is the blockchain as technology.
I could not agree with you more, crypto is over-hyped and to a point so is blockchain technology but they can be utilised and maximised for individuals and projects for their own agenda and goals.
As far as you keeping an open mind about a competitor maybe dethroning Bitcoin in the near future, do you see any existing crypto that might make that leap or do you think a new one will be created which might take over?
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