Topic: Pay attention to Bitcoin dominance so not to loose big time (Read 210 times)
Being the starter of cryptocurrency, it's certain that Bitcoin influences the overall market condition, if it goes down, so does the altcoins, if it goes up, so does the altcoins. I've been holding onto Bitcoin till now, but being on the safer side I get involved with some of the altcoins occasionally. I think it's better to invest in Bitcoin along with some altcoins.
Actually, bitcoin is the most leading cryptocurrency for all time and even if it dumps so badly in the past few months it bouncing back again and performs better in the last couple of weeks. However, investing in other cryptos are also good and do a diversification. Some of our investment can we put in bitcoin and some amount of it goes to altcoins or other cryptos. In that case, we can be much safest in any possible things that will happen. But in the other hand, a true bitcoin believer doesn't have a doubt and hesitate to still make an investment in bitcoin because for them they are sure that bitcoin can be much more successful in the near future.
I think it’s a good idea to give more attention in cryptocurreny like bitcoin. Otherwise may be one can face loss over time because it is always in ups and downs. So it will be ideal decision to give attention I think.
You have to invest in a variety altcoins to keep the market going. Having one coin will not maintain interest in crypto and the market cap overall will diminish. More products will keep investor interest in this market and the money will keep flowing in
There is an important field in coinmarketcap "bitcoin dominance" most people really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.
During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.
But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 36%. Bitcoin dominance have started growing again.
From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoins even some in the top 10.
You have two choices to make;
1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors can not ignore. It's a Herculean task to find these few coins, because even coins in the top ten will not be spared.
2. Hold Bitcoin alone until the coast become clear in a later date. There is this FOMO of seeing some coins going up and jumping into it. If you don't know how to play the game, don't get in.
This is my opinion. What do you think guys?
I will hoard lots of bitcoin and will sell some of my altcoins During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.
But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 36%. Bitcoin dominance have started growing again.
From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoins even some in the top 10.
You have two choices to make;
1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors can not ignore. It's a Herculean task to find these few coins, because even coins in the top ten will not be spared.
2. Hold Bitcoin alone until the coast become clear in a later date. There is this FOMO of seeing some coins going up and jumping into it. If you don't know how to play the game, don't get in.
This is my opinion. What do you think guys?
Honestly, I would like that the dominance of bitcoin would fall and that bitcoin ceased to dictate its price to the rest of the crypto-currencies. I want to see how the price of each crypto-currency will be formed without such a price dominance of bitcoin. In this case, now the market would not be stagnant this whole year due to the fact that bitcoin had some problems with the price and he has been on correction for such a long time.
my life experience proves that the full support of the icebreaker will lead the entire caravan to the big water of doubts not what bitcoin is hacking the ice strata on its progress
I haven't lost my trust on Bitcoin so far and I think with upcoming announcenments of ETF there will be a lot of hype and speculations that will help Bitcoin dominance to increase. Moreover, there are big investors who are getting into crypto market, that are focusing on Bitcoin only right now.
Maybe if I have 10BTC, I will hold 5 btc and 5bc again I will play in altcoin. altcoin is for trading only because if you are not smart at reading the market when trading altcoin you may experience a loss. That is very significant, hold all btc. However, the next day may only be able to enjoy the market.
#happy_fact
I do not want to lose. I want to use big time
I do not want to lose. I want to use big time
I personally prefer holding on to Bitcoin only. Last year I tried to focus on both the Bitcoin and ETH but sadly when Bitcoin's market experienced bull run I made huge loss from ETH. Though there are some good Alts available that can be invested in. But, the risk remains high in case Bitcoin goes up again, which is very likely to happen.
There is an important field in coinmarketcap "bitcoin dominance" most people really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.
During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.
But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 36%. Bitcoin dominance have started growing again.
From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoins even some in the top 10.
You have two choices to make;
1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors can not ignore. It's a Herculean task to find these few coins, because even coins in the top ten will not be spared.
2. Hold Bitcoin alone until the coast become clear in a later date. There is this FOMO of seeing some coins going up and jumping into it. If you don't know how to play the game, don't get in.
This is my opinion. What do you think guys?
During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.
But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 36%. Bitcoin dominance have started growing again.
From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoins even some in the top 10.
You have two choices to make;
1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors can not ignore. It's a Herculean task to find these few coins, because even coins in the top ten will not be spared.
2. Hold Bitcoin alone until the coast become clear in a later date. There is this FOMO of seeing some coins going up and jumping into it. If you don't know how to play the game, don't get in.
This is my opinion. What do you think guys?
My opinion, i bother what the CEO of bitmex said bitcoin is not reach it's lowest this year, it will go below 5k before it moon.
I think i will buy more when 5k and hodl my current btc
I really don't concentrate much to the bitcoin dominance because the price of bitcoin moving irrelevant to the dominance level,but as you said the dominance level of bitcoin was at 50% at the end of 2017,so now also nearly the same so we are going to see new all time high on the bitcoin prices.
Holding onto only BTC will not be a wise decision. Th best one will be to hold onto BTC and onto some other profitable altcoins, such as ETH. That way, you will not have all your eggs in one basket.
a plus 1 for this! one the of the golden rules in investing is, "Don't put all of your eggs in one basket". We need to diversify our investments to minimize the potential risks. There are lots of quality coins in the market. You only need to find them. Right now, I'm starting to add more on my portfolio.
You are right, your instructions will be of great help. I think Bitcoin is very bright in the future. So if it is holding it will be good profit in the future. Until then you have to wait.
in bitcoin market understanding the correct opportunities is very important so knowing all the current updates will help you to understand your opportunity otherwise you will never able to earn profit
Yeah it is true that BTC price is little low now. But it will hit the market again soon. So it is a good opportunity to hold some more bitcoin. I hope it will be beneficial.
Right now if I am right with my memory bitcoin dominance is at the point of 41% so it is less than before but anyway it is still a big point, I think there is no reason to be worried yet about Bitcoin.
yes currently we are seeing the same cycle and price of most alts are 90% down. we need good news to turn to positive move of prices which we need atmost right now. some new exchanges in new york is very promising to increase exposure to more people.
Bitcoin’s domination has seen by the whole world when it took over 50% of crypto currency market last year. But the investors should be concerned about the recent 11% price fall of bitcoin price. Investors should be very much attentive regarding the dominance and growth of bitcoin as it can boom any time.
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