Bitcoin is just eating off all the cryptos. People are so sure about bitcoin that they are not investing in any other crypto. Previously people used to buy when the price of bitcoin used to plummet but with the popularity of stablecoin, all of their bitcoin is being exchanged for stablecoins and back to bitcoin.
From my trading experience, altcoins are bought and sold for converting to the Bitcoin. That's the reason behind money flow between Bitcoin, Ethereum and altcoins. Stable coins are not safe in my opinion and so many things will turn south if something bad happens on the Tether side. 
Topic: Is it just me or is the market dominance of BTC dangerously high? - page 5. (Read 1055 times)
July 04, 2019, 03:47:38 PM
July 04, 2019, 03:30:29 PM
I do not know why you are scared of increasing btc dominance, it simply indicates that new money as well as the money from other coins is flowing into btc at the moment so as long as it is increasing the overall market volume and cap we should be happy because eventually this money will flow to other coins as well personally i want the market volume to grow over 1 trillion mark as soon as possible.
July 04, 2019, 02:50:19 PM
BTC influence is high and i ask myself if Bitcoin will fall, same will happen with all other altcoins?
July 04, 2019, 02:45:23 PM
I've been following Bitcoin's market dominance for a while now. And before the current bullish trend, it used to decrease as the market was growing. I even noticed the correlation between the prices going up and the dominance going down and vice versa. Take a look at this interesting chart: https://coinmarketcap.com/charts/#dominance-percentage. Specifically, at what happened at the end of 2017. Bitcoin's price sky-rocketed, but so did the prices of altcoins. They were kind of fueling each other and thriving. Bitcoin going up coincided with the market of cryptocurrencies expanding, and alts taking up a bigger and bigger part of it. BTC dominance went almost as low as 30% back then.
When the prices started going down, Bitcoin's dominance was growing. People were selling their cryptos a lot, but some of them were selling altcoins for Bitcoin, so it actually lost less than others. When the prices started to go up in April, I thought that 2017 would repeat itself with Bitcoin giving more space for other coins as the market recovers. Instead, what we see is Bitcoin recovering at the expense of altcoins with market dominance now being above 60%.
What do you think about this phenomenon? Is the time of altcoins over, or is it just temporary?
In my opinion this is a natural response from investors taking into account what happened in 2017, during that year altcoins grew in number and in their valuation but as we know most of those altcoins never reached their goals and just disappeared, this time around people are not taking any risks and are investing only in bitcoin which is the only coin that we know is going to keep on existing no matter what, so even if altcoins have grown in fiat they have not done so against bitcoin, I am not worried since it was my belief that the bitcoin dominance was too low and now we are closer to the reality of the market. When the prices started going down, Bitcoin's dominance was growing. People were selling their cryptos a lot, but some of them were selling altcoins for Bitcoin, so it actually lost less than others. When the prices started to go up in April, I thought that 2017 would repeat itself with Bitcoin giving more space for other coins as the market recovers. Instead, what we see is Bitcoin recovering at the expense of altcoins with market dominance now being above 60%.
What do you think about this phenomenon? Is the time of altcoins over, or is it just temporary?
July 04, 2019, 01:38:34 PM
I don't think altcoins can keep up with the market of BTC anymore. I think the main reason is that the bear market is too long now. People prefer to sell altcoins to buy BTC. Investors lack confidence. But I also believe that altcoins will rise with BTC one day when the bull market comes.
Yes, I agree with you. I also think that the time of the altcoins simply has not come yet. The market is just beginning to recover, and (I believe in it) strong altcoins will still manifest themselves.
July 04, 2019, 09:55:22 AM
I don't think altcoins can keep up with the market of BTC anymore. I think the main reason is that the bear market is too long now. People prefer to sell altcoins to buy BTC. Investors lack confidence. But I also believe that altcoins will rise with BTC one day when the bull market comes.
Charts alone often are not enough to get a picture of the market, and this is one of those situations. In 2017 there was a big hype around blockchain technology, and altcoins were presenting themselves as a big part of it, so people were pumping their money into them because it felt like they are investing in the next big thing. Today the interest in blockchain is significantly lower, and Bitcoin is rising because of its halvening in 2020, and just recovers from an oversold bear market. Alts don't have anything big to justify a bull market, ICO's are viewed as scams, IEO is just rebranding of ICO, no one adopts altcoins for payments. If you have used BTC to buy altcoins this year, you're in a big loss already.
I've been following Bitcoin's market dominance for a while now.
actually what you have been following has been the "altcoin market cap bloat" not bitcoin dominance otherwise you would have known that bitcoin dominance is more than 95%. but when you look at the bloat of the total market cap that is caused by altcoins and decide to call that "dominance" then that is a different story.
and it has been decreasing because a lot of altcoins are reaching their end of line and dying. so as they get dumped and disappaer their market cap disappears with them and the bloat shrinks hence increasing that percentage you were looking at.
Bitcoin is just eating off all the cryptos. People are so sure about bitcoin that they are not investing in any other crypto. Previously people used to buy when the price of bitcoin used to plummet but with the popularity of stablecoin, all of their bitcoin is being exchanged for stablecoins and back to bitcoin.
This indeed is one of the reason for the bitcoin dominance.
But bitcoin is a speculative coin, it's limited in number hence a rare asset. Comparing bitcoin with other utility tokens would not be a fair judgement.
In the future bitcoin may or may not sustain it's price but utility tokens that have real use would always sustain.
It is really high but according to my understanding it shows the strength of btc and probably indicates that market is going through btc bulls phase which was long awaited by most of the hodlers and seems like the rally will continue from here on.
Almost all of people are paying attention to the bitcoin after a bitcoin ETF already approved by US regulators. they are all taking altcoin as an alternative way when bitcoi's volatility is very low and doesn't enough to give them all profit. PnD for altcoin at this moment is a real thing dude.
49% it is normal for me, if below i start to worry about the BTC and the market in general, if the more 50% i starting to worry about the Alts.
I've been following Bitcoin's market dominance for a while now.
actually what you have been following has been the "altcoin market cap bloat" not bitcoin dominance otherwise you would have known that bitcoin dominance is more than 95%. but when you look at the bloat of the total market cap that is caused by altcoins and decide to call that "dominance" then that is a different story.
and it has been decreasing because a lot of altcoins are reaching their end of line and dying. so as they get dumped and disappaer their market cap disappears with them and the bloat shrinks hence increasing that percentage you were looking at.
Bitcoin is just eating off all the cryptos. People are so sure about bitcoin that they are not investing in any other crypto. Previously people used to buy when the price of bitcoin used to plummet but with the popularity of stablecoin, all of their bitcoin is being exchanged for stablecoins and back to bitcoin.
It is really high but according to my understanding it shows the strength of btc and probably indicates that market is going through btc bulls phase which was long awaited by most of the hodlers and seems like the rally will continue from here on.
I've been following Bitcoin's market dominance for a while now. And before the current bullish trend, it used to decrease as the market was growing. I even noticed the correlation between the prices going up and the dominance going down and vice versa. Take a look at this interesting chart: https://coinmarketcap.com/charts/#dominance-percentage. Specifically, at what happened at the end of 2017. Bitcoin's price sky-rocketed, but so did the prices of altcoins. They were kind of fueling each other and thriving. Bitcoin going up coincided with the market of cryptocurrencies expanding, and alts taking up a bigger and bigger part of it. BTC dominance went almost as low as 30% back then.
When the prices started going down, Bitcoin's dominance was growing. People were selling their cryptos a lot, but some of them were selling altcoins for Bitcoin, so it actually lost less than others. When the prices started to go up in April, I thought that 2017 would repeat itself with Bitcoin giving more space for other coins as the market recovers. Instead, what we see is Bitcoin recovering at the expense of altcoins with market dominance now being above 60%.
What do you think about this phenomenon? Is the time of altcoins over, or is it just temporary?
When the prices started going down, Bitcoin's dominance was growing. People were selling their cryptos a lot, but some of them were selling altcoins for Bitcoin, so it actually lost less than others. When the prices started to go up in April, I thought that 2017 would repeat itself with Bitcoin giving more space for other coins as the market recovers. Instead, what we see is Bitcoin recovering at the expense of altcoins with market dominance now being above 60%.
What do you think about this phenomenon? Is the time of altcoins over, or is it just temporary?
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