Topic: Pay attention to Bitcoin dominance so not to loose big time - page 2. (Read 210 times)
I'm buying Bitcoin for the long term. When people are scared of Bitcoin, I'm glad, simply because I have the strategy and belief in Bitcoin's strong comeback.
In particular, in the declining market, the dominance of bitcoin will become bigger and bigger. The market share of bitcoin has risen by 5% in the past month, which will increase with the disappearance of a large number of altcoin.
There is an important field in coinmarketcap "bitcoin dominance" most people 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.
I think the reason for this is:- One of the reasons for the decline in the dominance of Bitcoin is its high price, as many seem to be losing hope of earning foreign profits from simple investments. [Invest 1$ in shitcoin & earn 100000 after three years]
- Multiple trading platforms and the possibility of buying altcoins directly without the need for Bitcoin is an extra reason where in the past you must buy Bitcoin to get alts.
- There are more than 1,700 coins, so the daily increase in those currencies should reduce this dominance.
1. Hold more of Bitcoin right now, and a few altcoins that have values that institutional investors cannot ignore.
All altcoins "except
Also, if there is an economic shock, all the altcoins will return to zero.
there is absolutely nothing important about that field in field in coinmarketcap called "bitcoin dominance"! that number you see there can say 99.9999% or it can say 0.000001% and it still wouldn't change a damn thing. bitcoin is still going to be the dominant cryptocurrency and the altcoins are still going to remain the same pump and dumps schemes that nobody takes seriously apart from sad bag holders.
According to me, it is better to invest on few altcoins that have the potential to grow again. ETH, EOS, NEO are some of the alts that I think would be profitable in the long run even though alt market gets crashed. But, holding Bitcoin is the wisest decision one can make given the current situations.
Holding Bitcoin is the best thing, in my opinion, although you can go for a few altcoins like ETH, EOS, LTC, but make sure to do your researches, and go for the long run always.
Bitcoin, at present, is too volatile and limited to be a suitable method for trading. Bitcoin is clearly expected to rise sharply after a 20% price increase in July. But to date, it's too sad.
I used to have quite a bit of bitcoin, only that I was stuck in an altcoin game, I lost almost 90% of the bitcoin I had. At least altcoins can still last for the next 2 years. That's my hope.
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.
Facebook net worth fell $160 billion when facebook shares price fell -20% in one day. Bitcoin market capitalization is some $150 billion.
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?
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