BTC dominance seems to continue creeping on upwards. How high do you think it will go without an actual bull run?
And how high have you seen it go?
There is really no limit to it. I mean I don't think it will ever be %90 or whatever but I think it is quite limitless how far it can go up or go down. There is literally no barrier that just stops it when it reaches to something. It can go up or down but never really change anything in the market.
When bitcoin goes up, sometimes other coins "go down" in bitcoin value but when you look at their dollar value their dollar value usually stays the same, hence when you look at the dominance sometimes even when bitcoin goes up, dominance stays same. Hence, don't worry about the dominance but focus on seeing greens on the market for couple days in a row, when you see that, that is usually the sign of bull run which will fix this dominance and make all of the coins gain value and not just couple of them.
The theoretical limit for me is 80% due pareto law distribution, but as discussed before in other thread, you cannot rule out all the greedy gamblers that love trading BTC for pump and dump shitcoins, which is the sole reason all these shitcoins are alive to begin with.
When the necessity for gamblers and penny stock traders (maybe this is the same thing) align within the will of exchanges to make money, they will simple keep listing all these shitcoins for people to trade with and milk the trading fees. Why wouldn't you do it? You could say listing shitcoins degrades your brand and this is the case, but even the biggest exchanges nowadays list shitcoins so I don't see that changing in the future.
I believe we will go back to 80% for the sheer amount of shitcoins out there crashing and most of it going to BTC, but the remaining 20% will continue being the paradise of over-the-radar trading in exchanges hosted overseas without KYC or any requirements to identify yourself where you will be able to trade BTC against all kind of exotic tokens without limits.
