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Topic: Impact of Bitcoin growing Dominance on the Crypto space - page 3. (Read 452 times)

jr. member
Activity: 406
Merit: 5
I-CHAIN - The Revolution of Digital Advertising
Well, a few years ago there were only a hand full of Alt coins out there and then there was Bitcoin.  Wink  People were not spoiled for choice, when it came to Alt coins, so these Alt coins did very well back then. We think about coins like Dogecoin and LiteCoin and NameCoin etc..

Now, people are spoiled for choice with over 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) that have been created since 2009. So you have 1000's of Alt coins having to compete for a limited amount of the total market share of investors that are willing to invest in Crypto currencies.  Roll Eyes
You are definitely spot on but lately all attention has switched back to btc. It has become highly volatile and dominant in the market...I wonder if this wouldnt have  a negative impart on the crypto space
legendary
Activity: 3542
Merit: 1966
Leading Crypto Sports Betting & Casino Platform
Well, a few years ago there were only a hand full of Alt coins out there and then there was Bitcoin.  Wink  People were not spoiled for choice, when it came to Alt coins, so these Alt coins did very well back then. We think about coins like Dogecoin and LiteCoin and NameCoin etc..

Now, people are spoiled for choice with over 4,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) that have been created since 2009. So you have 1000's of Alt coins having to compete for a limited amount of the total market share of investors that are willing to invest in Crypto currencies.  Roll Eyes
legendary
Activity: 2576
Merit: 1655
As at the time of this publication, btc dominance in the crypto market account for 68.4 percent, with this being the highest since April 2017. The question is what does this growth in dominance imply?those it suggest an immiment pump? since the bull run started not long after such high dominance was recorded  or those it imply further dump for altcoins and increase it btc valuation...
Please share your opinions.

I don't see any bitcoin pump, it's not the market recovered, as compare to altcoins who are still in crypto winter. Perhaps there are a lot of newbie investors who put their money on bitcoin this year and they've understand that altcoins is just for for pump-and-dump scheme. And that so called x10-x50 returns will not happen this year. ICO business model is already dead at this point, investors are just maturing and would rather invest their money in a safe coin like bitcoin.
legendary
Activity: 3472
Merit: 10611
bitcoin dominance is not growing. it has always been high and above 95%
what is growing is the ratio that bitcoin's market cap has compared to the sum of 3000+ altcoins and tokens market capitalization. and there simply are two reasons for it: death of about 1000 of those altcoins and hard dump of  the rest.

the only impact this has is that it wakes up a lot of newbies who thought just because an altcoin has a huge market capitalization it must be a good investment. but the 90% loss over a year is making them face the reality now.
sr. member
Activity: 1358
Merit: 326
Whenever there is a bitcoin dominance increase, it will perform bull run but expect some altcoins as a whole lose btc value. And vice versa. These implicates that the dominance in the crypto market can be uptrend or downtrend. To make it in a simplier view. Bitcoin dominance is a metric for investors to  get a quick sign on how to get Bitcoin's value. It may benefit the investors as well.
jr. member
Activity: 406
Merit: 5
I-CHAIN - The Revolution of Digital Advertising
Bitcoin being the pioneer cryptocurrency has always had a big gulf between it and other cryptocurrencies in the market mostly in term of valuation. Although this is expected, the growing dominance BTC is having on the entire crypto market does not speak good for the crypto space...
As at the time of this publication, btc dominance in the crypto market account for 68.4 percent, with this being the highest since April 2017. The question is what does this growth in dominance imply?those it suggest an immiment pump? since the bull run started not long after such high dominance was recorded  or those it imply further dump for altcoins and increase it btc valuation...
Please share your opinions.
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