The bitcoin dominance level is getting much closer to 50%. What does it mean?

chaoscoinz

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Quote from: pooya87 on August 10, 2018, 11:29:56 PM

Quote from: romero121 on August 10, 2018, 10:52:30 PM

the dominance level of bitcoin was close around 55%,

wrong!
"dominance" of bitcoin is still up there near 100% as it has always been for years and that has not changed that much. maybe it dropped to 95% at some point but it is still up there.
what you are quoting is not "dominance" it is market cap share which is meaningless and only coinmarketcap.com calls it falsely "dominance".

Quote from: mk4 on August 10, 2018, 10:57:08 PM

It simply means more people are getting their money away from altcoins and moving them to BTC for multiple possible reasons.

wrong again.
traders aren't going to pull their trading funds out of the altcoin market just because they are getting dumped. traders know well enough how to make money in that market from the pump and dumps and their funds will remain active there.

the reason why the market cap share of bitcoin is increasing is the same reason why it was decreasing. because altcoins market cap is fake and easy to rise so also easy to drop.
when a coin has 100 million coins in fake circulation and its price goes up $1 its market cap goes up 100 million. but when bitcoin price goes up $1 its market cap only increases ~$17 million.
for instance when ETH got dumped another $100 down to $300 range it simply lost $10,125,000,000 ($10 billion) market cap in a blinking of an eye.
same with XRP. a $0.2 dump meant it lost $8 billion market cap.

this is how fake market cap is! and this is why it shouldn't even be used in first place to compare them.

correct, my sentiments exact. The over inflated market prices of altcoins are beginning to finally deflate with the current downtrend we've been experiencing these last couple of months. It may also be the reason that an ETF may not be approved any time soon. The market is wildly unregulated and subject to heavy manipulation. Imagine if satoshi actually wasn't altruistic and decided to cashout?

hardip567

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It shows that even after the price of bitcoin falls, investors believe in bitcoin

BrewMaster

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Quote from: waitforme on August 18, 2018, 09:31:50 AM

The downtrend continues although many investors have tried to hold onto Bitcoin and not sell them because they believe this will help stabilize the market. But market players continue to play their games with investors, continually creating volatility and making them worse.

if investors held their bitcoins then price wouldn't have went down in first place. they have been selling which is why price fell. and they also have been buying which is why it didn't go down after some point and it is reversing back up now.
it is not always about manipulation, we can have fluctuations with 0 manipulation involved too.

Herbys

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Bitcoin's dominance has increased, as a result of the decrease in the price of altcoyins, while Bitcoin is relatively stable, the altcoins are popular and thereby select the percentage of Bitcoin's dominance.
Such a situation will be until mid-September.

MalcolmBee

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It isn’t that alts are taking over, it isn’t that Ripple, Ethereum, or Bitcoin Cash is replacing Bitcoin, it is that this is all occurring incrementally in wave-like patterns as Bitcoin makes headway and then enters a periods of correction (periods in which all other coins thriv

waitforme

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The downtrend continues although many investors have tried to hold onto Bitcoin and not sell them because they believe this will help stabilize the market. But market players continue to play their games with investors, continually creating volatility and making them worse.

xiahui135

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Quote from: Rozita on August 17, 2018, 06:00:28 PM

It's so simple. Many people are selling their cryptocurrencies for Fiat. As people have to sell their altcoins for bitcoin first, altcoins are falling more than bitcoin. So bitcoin dominance is rising.

I agree.

charlotte04

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Quote from: romero121 on August 10, 2018, 10:52:30 PM

While the price reached the ath value the dominance level of bitcoin was close around 55%, now bitcoin is close to 50% after a long. With the decline of ethereum and other expected cryptocurrency the dominance keeps increasing. Is there any possibilities for a price pumping with bitcoin as well other major altcoins with regards to the dominance level of respective cryptocurrency.

For me, it simply means that people are trying to get back their investments to Bitcoin since they feel that it is about to pump that is why the volume it going up.

dreammoney710

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The Bitcoin market cap is better than the rest of the Alexander market. There are many possible reasons behind this, which have been speculated long ago. And for this reason bitcoin is dominance altcoins.

Phan Long

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This figure shows that Bitcoin's performance is far better than Altcoins. This figure shows the impact of Bitcoin on the market. When Bitcoin increases everything will increase and vice versa. I think entrepreneurs will know what to do in this market. And Bitcoin Investors and Researchers expect Bitcoin to return.

earnetheasy

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BTC dominance almost 50% and it’s show that still BTC is more popular and sustainable to investors instead of it’s declining market value.

Kimskie12

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Well i am not knowledgeable enough for this matter but in my opinion there are things and possibilities to consider. Maybe because there are fakes in altcoins that is why its easily goes up but also easily goes down or sometimes totally drop.

ss890

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I believe it means nothing because bitcoin is anyway getting heavy volume everyday and it is almost the same volume which is used to be back in year so I dont see any significance of this value. This value is just representative of some data against some data (btc vs alts) and is menaginless information to predict anything about the bitcoin. The bitcoin movement is more or les fundamental based and thus if you really want to see if bitcoin is pumping or not then just look at its value, see if it has moved from X to Z. , dont bother yourself with the dominance stuff. Grin

YellowRose

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Bitcoin's domination is increasing, now it crosses 50% and people's interest in Bitcoin is increasing steadily. And near future it will gone 100% I guess. But bitcoin and altcoin has a huge potential also.

Asprincess7

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As I know the dominance level is more than 50 percent. The past quota stating that people paying attention toward it and it keep growing. Now the investment over the other coin are taken back and they invest on bitcoin.

IIOII

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Quote from: Bezobraznike on August 17, 2018, 06:09:29 PM

Cause I was interested in this topic I made a little research about it. I came across this article:
-Why The Bitcoin Dominance Index Is Deceiving! ...

Very true. Market cap of many altcoins is purely virtual with almost no trading volume. Some have fast growing market caps simply due to the fact that founders or majority stakeholders grant themselves large numbers of new coins.

In my opinion Bitcoin dominance is growing despite these altcoin-favorable distortions because many alt "investors" are beginning to realize that most altcoins have no real use case other than being vehicles for speculation. This is the beginning of the end of the altcoin mania.

Bezobraznike

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   Cause I was interested in this topic I made a little research about it. I came across this article:
-Why The Bitcoin Dominance Index Is Deceiving! Link to article: https://medium.com/@jimmysong/why-the-bitcoin-dominance-index-is-deceiving-80ae324ee2ac
   Very nice article from Jimmy Song. I think he deserves his name to be mentioned, he should take a lot of credits for his article.
With many arguments and his skill to explain something complicated in a simple way this is one of the articles that many people should read.
I will copy/paste couple lines from his article and I hope I will make some people interested in reading this. I will start with what Bitcoin dominance is:

-"The Bitcoin Dominance Index was put together a few years ago to show exactly how much of the entire cryptocurrency economy is dominated by Bitcoin"

-"The market caps on a lot of these altcoins are hugely manipulated. Consider one of the original manipulated altcoins: Ripple. They premined all the coins! That is,
they created all Ripples beforehand and only released them to the public a bit at a time."

-"Like with most things, Bitcoin Dominance is a very crude metric and one that’s unfortunately very easy to manipulate. "

Rozita

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It's so simple. Many people are selling their cryptocurrencies for Fiat. As people have to sell their altcoins for bitcoin first, altcoins are falling more than bitcoin. So bitcoin dominance is rising.

r32godzilla

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Quote from: romero121 on August 10, 2018, 10:52:30 PM

While the price reached the ath value the dominance level of bitcoin was close around 55%, now bitcoin is close to 50% after a long. With the decline of ethereum and other expected cryptocurrency the dominance keeps increasing. Is there any possibilities for a price pumping with bitcoin as well other major altcoins with regards to the dominance level of respective cryptocurrency.

This means either more altcoin holders were shifting their investment to bitcoin or else more new investors were choosing bitcoin as their first choice.I f the bitcoin ETF had been approved,then this dominance level would have gone much higher.

suzanne5223

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Quote from: CanyonsBull on August 17, 2018, 06:29:13 AM

It is cycle which is quite similar like 2017. The market is fully dominated by Bitcoin. Bitcoin is leading all the coins. And it's dominance is good for the cryptomarket.

I disageed with you buddy cause the current market is not similar to that of the year 2017 because the market was moving side ways not on bitcoin only. Although, bitcoin net dominance was about 73% i could remember correctly from year when bitcoin was created till last year.

Topic: The bitcoin dominance level is getting much closer to 50%. What does it mean? (Read 506 times)