Topic: Thoughts on Bitcoin's Increasing Market Dominance - page 3. (Read 740 times)

/r/cryptocurrency is a confused place. Any post about bitcoin gets shit on with half truths and misunderstandings, and anyone pointing out these inaccuracies gets downvoted. But then at the same time, they are quite happy to shill and circle jerk over trash coins with no adoption and use case. They seem to be able to identify some coins are trash - any post about Tron or Verge, for example, gets rightly derided for being a scam - but then they seem to have a blind spot and will upvote other trash like Iota or ICX.

Oh god, I'd forgotten all about the flippening chat. Seems hilarious to look back on. I can't see it happening with any current altcoin unless something awful happened to BTC.

Bitcoin will continue to dominate because it does not really have a competitor

BTC's dominance rise has been consistent this year and that leads to altcoins now growing anymore.
If the rise continues, that would be bad for altcoins market but at the same time, it shows an opportunity to buy seeing them dump from its current price now. Majority of altcoins have already loss over 50% of its ATH value, and as the increase of dominance happening, it will only make them close to worthless coins. We can't predict what will happen this year, but I'm confident I'll begin picking more altcoins as BTC's dominance grows higher and higher.

you might be surprised. lots of coins that bubbled in 2013 and died a couple years later were resurrected in 2017. lots of horseshoe patterns on the long term BTC pairs---not necessarily a new ATH against BTC but lots and lots of old coins will easily break their USD highs on the next go round.


we'll get more flippening talk in the next bubble. i'm not sure it'll be ethereum, though it's still more promising than most of the altcoin space.

Well, we have 2 driving factors that are pushing up the price again and it is 1. ..the continued market tension between the USA and China and investors looking for a Safe haven to hedge against this influence and 2. ...the Bakkt hype surrounding physical bitcoin investments from the institutional investors that might happen after the 6th of September.  

I think the last drop in the price was pure market manipulation from people that are anticipating a large spike in the price and people who pushed the price down to quickly buy more cheap bitcoins before that happens.  

You said the reality! Why should we have coins in hundreds and all of them are doing the same thing? I don't think the coins we have now are going to exist for long and people has discovered that Bitcoin is the most reliable among them. Just imagine that people were saying in 2018, that ”ethereum is going to replace bitcoin”!
I strongly believe that in 2 to 3 years to come, bitcoin dominant may cross 90%.

The market changed. I would expect that it is unlikely that projects like IOTA and NEO see new ATH's in USD and BTC terms. The hype is gone. New projects that bring real utility to the crypto space will do it in the coming altcoin bull cycle.

It is time to accumulate more good altcoins. Let's recall what happened with bitcoin and bitcoin enthusiasts in 2018? All or most of them depressed as same as altcoin enthusiasts now. I do think altcoin enthusiasts can learn from the very recent lesson from bitcoin. Unfortunately, if they hold bad altcoins, they should stop dreaming for aforementioned reasons (in my previous post).

They should know when to stop hoping without convincing reasons, and when to cut their painful losses from past wrong investments.

Every day that Bitcoin's dominance rises or at least stays at this high levels shatters the confidence of altcoin holders - I visit /r/cryptocurrency from time to time and they are so depressed at the moment. Some people still try to shill for shitcoins like IOTA or NEO, but they don't get as much support as they did in the past. If a miracle won't occur for altcoins, they might spiral into lower depths. So at least now new money that enter the crypto market will go to Bitcoin, although this could have been always the case, as people had to buy Bitcoin in order to buy alts. So, this whole thing won't affect Bitcoin too much.

Perfect! I have my opinion as people incorrectly pay their attention on dominance, bitcoin or altcoins.
The true indicators for growth of bitcoin or altcoins is total volume. If we keep our minds neutral to see the fact of increases in dailly volume of bitcoin and altcoins since their all time highs in price values more than one year ago. This one, and the fact that most of altcoins has their volume fallen to nearly zero or zero, I do see the growth of altcoins, good ones, I meant.

If 2 years ago, we have 3000 thousands altcoins with all good volume, but now we have only 1000 altcoins that have daily volume, and their total daily volume increased compared to figures of 2 years ago, it is truly a good signal of growth, even their prices temporarily fluctuated in bottom ranges.

Bad altcoins actually comes to their death periods, and I do believe they won't have minor chances to return because investors have matured more significantly since the crashes of bitcoin and altcoins last two years. Even those shit altcoins boosted by their team by whichever shady methods, investors will be very careful to reinvest in those shit altcoins.

The era of shit altcoins have gone, from now on we will see good recoveries of good altcoins.

the reason why this question keeps coming up for different users every day is that the thing they call "market dominance" has nothing to do with actual "dominance". if we define what that number means, i believe a big part of the question is answered.
in short what CMC is calling "dominance" is simply division of bitcoin's market cap (with its ~18 mil supply) by the total market cap of 2000-3000 altcoins (with their total supply of hundreds of trillions).
so obviously when bitcoin goes up $1 its market cap goes up $18 million but if those coins go up $1 their market cap goes up hundreds of trillions. so in order to go up the same amount in market cap as bitcoin they just have to increase in price a very tiny fraction of a $1 which is why that percentage which falsely referred to as "dominance" shrank in first place and that is also why it is rising back up again.

the only thing that has an impact on "crypto innovation" and has been preventing it in the past couple of years is the developer's greed. all they want is to make a ton of money in a short time. so what we have is a bunch of premined, fundraising garbage coins that have no innovation and are reusing the same things again and again.
if some day some new coin comes along with ACTUAL innovation and superiority, then it wouldn't matter if bitcoin's dominance (or more correctly market cap ratio) were 1% or 99.9999% that new coin would grow automatically and i am not talking about its price but its adoption.

Then it looks like you need to watch the markets more.

Harder. Declined harder. There. Fixed it for you. Yes, most of the time altcoins still follows the price of bitcoin, but I think you need to check out altcoins prices in the past few months when bitcoin dropped in price. Then you'll know.

The market dominance stays strong above 70% and altcoins keeps rolling down. How far this trend gonna continue is unpredictable, and if this continues then there is no chance for altcoins to head up. As the dominance increases more altcoins gets moved into bitcoin. This keeps the dominance level keep counting.

With this month there is the Bakkt which also predicted to make a huge impact over the market of bitcoin will surely make some positive gains which will once again affect the altcoins growth. It is getting proved bitcoin is the core, even when there are more than 2000 cryptocurrencies available.

But what about other possible use cases and some proposed innovative projects in the pipeline? Will this have an impact on crypto innovation if the industry only see a handful of other coins including BTC as viable and disregard others which might even offer superior features and innovation?



Indeed! But I was also thinking if this market dominance is correlated in terms of its adoption rate? If it is, then we might be experiencing a significant milestone on Bitcoin's history!

Go fuck your motha.

In my opinion what causes Bitcoin to always dominate the market is the number of communities in the crypto circle is increasing, many merchants and online stores already accept bitcoin as a means of payment. Because it is obtained by mining, there are some people who refer to bitcoin as hidden digital gold. They believe in the future, bitcoin will give a higher value than now. What result?

Some people want to buy the miner's bitcoin at a higher price. Although only a few people, but the number continues to grow.

More and more people are interested in becoming a miner along with the increase in the price of bitcoin which continues to soar until reaching its peak in 2017. Coupled with the maximum number of bitcoins in circulation is 21 million pieces, then everyone does not want to miss hunting digital gold. Either by mining or buying at the exchanger.

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Bitcoin domination does not make a big impact on altcoins. We can all see that Altcoin doesn't give a big surprise. That Bitcoin seems to have declined and the Altcoins also declined.

This is what makes a lot of people confused and lost. Confused because the market looks very difficult to predict. In a few weeks, it seems stable Bitcoin price, but when the price drops and Altcoin also dropped.

Maybe the next Bull Run Altcoin can give you surprises and I am sure this will happen at the end of the year 2019.

Although I have a lot of altcoins in my portfolios I still consider this as good news, this means that Bitcoin has a huge trust coming from investors new and old investors, which should always be the case.
Let's admit it Bitcoin represents what all the Cryptocurrencies are bringing to the world if we want massive adoption Bitcoin should come first and first learn to make it their main portfolio.

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