Topic: Very stable BTC dominance - page 7. (Read 1620 times)
Bitcoin dominance shows only the proof that cryptocurrency investors believe in bitcoin compared to any altcoin. This is the reason why bitcoin is so stable in terms.of market cap. Altcoins, however, are not that stable in terms of market cap since XRP, ETH, BCH are battling it out.
be too early for speculation, I hope that after the holiday season, bitcoin will recover, I do not think it's a lot but at least 30% of this year's fall
If you can see the last months of 2017, October to Nobember is the pumping days of bitcoin but when December comes in, it gradually goes down. In short, it may goes more down in this upcoming month which is December and the market won't recover in this year anymore. 2019 is a prosperous year for bitcoin said by lots of spectators. Well, we will see if it will happen.
If we say something about the current market, then we have to look back. You can get ideas about the market from 2009 to 2018. Every time the decrease of btc, its price has increased even more. So we have to be patient. And to get more knowledge about the market.
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
I don't think there is a lot of big interest changes. Also when the price was 6.5k $, the dominance was around 53%. Even if you can look at it now you can see that the dominance in coinlib.io is 54.26%. I don't think this needs an explanation, even it would be better for us to have lower dominance. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
So basically you are saying that BTC no longer has this function of "refuge", the safe-haven cryptocurrency. The fact bitcoin behaves like altcoins (or vice versa) means what?
Bitcoin broke through its yearly support, which resulted in so much panic, that the fierce selling pressure was enough to have BTC almost outperform altcoins in terms of % movement.
Altcoins act like leveraged instruments and exeggerate every movement of BTC, but with so much selling pressure even BTC can't do anything other than go down like 15%. If you also add that there is limited market depth, the price tanks hard, there just isn't a way to put it differently. Bitcoin has to swallow sales from both the altcoin market and its own market, and when both simultaneously pressure BTC, this is what you get.
Is it possible that BCHABV vs BCHSV camps sell BTC to pay their bills? It is, but it goes through BitPay, and they don't sell unless they have no other option.
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
well just let see it after holiday session, if the increase of bitcoin is still stable or even be more high to jump back in actual price that was sounds good enough, but i prefer when bitcoin has very stable price rather than violate market. because maybe this is the start of bitcoin to comeback to implement with many big company that provide transaction with bitcoin
So basically you are saying that BTC no longer has this function of "refuge", the safe-haven cryptocurrency. The fact bitcoin behaves like altcoins (or vice versa) means what?
In the old days people were going from Bitcoin to altcoins because altcoins were offering quick gains. When they were selling they were coming back to Bitcoin. Now people are investing in alts straight with fiat, or going through tether instead of Bitcoin. It doesn't have to be that safe refuge because it's much easier to buy and sell altcoins. It's good for Bitcoin because the more stable it is the better. I'd rather have people buy Bitcoin to own Bitcoin not to do it because they want to invest in altcoins.
My point is that it's merely the same 53% since september 2018. And the massive dump did not even affect it.
So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know
It's not too early to explain. The reason BTC's dominance didn't change much is because it tanked in quite a similar fashion as altcoins did. Usually it's BTC down 5%, altcoins down +10%, but the decreases were pretty even this time.So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know
If everything goes down equally, the dominance won't move much at all. In other words, Bitcoin behaved like a shitcoin in the last few weeks. It didn't show anything of its usual strength, it kept tanking like there is no tomorrow.
The most interesting aspect to focus on is whether or not the similarities will be there on the way up as well. If not, it might very well be that altcoins will outperform Bitcoin and drag the dominance below 50% in a quick fashion.
So basically you are saying that BTC no longer has this function of "refuge", the safe-haven cryptocurrency. The fact bitcoin behaves like altcoins (or vice versa) means what?
My point is that it's merely the same 53% since september 2018. And the massive dump did not even affect it.
So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know
It's not too early to explain. The reason BTC's dominance didn't change much is because it tanked in quite a similar fashion as altcoins did. Usually it's BTC down 5%, altcoins down +10%, but the decreases were pretty even this time.So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know
If everything goes down equally, the dominance won't move much at all. In other words, Bitcoin behaved like a shitcoin in the last few weeks. It didn't show anything of its usual strength, it kept tanking like there is no tomorrow.
The most interesting aspect to focus on is whether or not the similarities will be there on the way up as well. If not, it might very well be that altcoins will outperform Bitcoin and drag the dominance below 50% in a quick fashion.
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Bitcoin has always dominated the market right from inception. 53% dominance is no longer surprising. This has always been the range of its fair share in the market. BTC gave birth to every other coin we have today.However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
I never discussed the absolute value of btc dominance (53%). High/low: not my point at all.
My point is that it's merely the same 53% since september 2018. And the massive dump did not even affect it.
So far I noticed that some people think it's too early to explain why it didn't change, but that's what I would like to know
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
BTC dominance has been pretty much on that level for a while now. The dump is nothing considering the fact that it was something that hit the whole market generally and not just bitcoin. It was not like bitcoin was dropping and the altcoin market was rising. Bear market as we have all seen it is something that affects the whole market overall when it hits, what we are seeing now is just the statistics based on the market cap over all compared to the rest of the market and the dominance of bitcoin totally depends as well on the sentiments of the market overall and where money is moving into.However it appears previous bear market phases always had an impact on the indicator.
But it's been already a couple of days that the dump initiated and dominance hasn't change.
In the past, it used to change as the dump starts
Maybe you should be reading more on how that dominance is calculated and probably you will figure out the main reason why it has not changed. Bitcoin was not the only coin that dropped, the whole market did, and the dominance of bitcoin is compared generally with the whole market, and the reason why you see the dominance not changing is because money is being moved out from all markets generally, and the percentage of bitcoin in market cap to the total altcoin market cap, simply gives you what the dominance is all about. In the past, it used to change as the dump starts
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Bitcoin has always dominated the market right from inception. 53% dominance is no longer surprising. This has always been the range of its fair share in the market. BTC gave birth to every other coin we have today. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
The so called "bitcoin dominance" doesn't matter at all to me.If the bitcoin price crashes to around 1000 USD
I agree
The altcoins do not have a great use in real life, if the altcoins had practical use in real life then the dominance of bitcoin would be much smaller and the falls of prices of bitcoin would not affect much the altcoins, but the reality is that the altcoins are focused on solving the problems of the internet, nothing against this, but there are already over 2000 altcoins and more than 80% of these altcoins have the same purpose
Dominance is actually going up, we are now at %54.1 which is pretty decent, but there's a long road to %80 where it should be. The only reason we saw all time lows for Bitcoin was due Ethereum pump, a lot of noobs into crypto were looking for "Bitcoin 2.0" and Ethereum sold itself good as "the next big thing". Of course we know is a scam but dumb money doesn't. That Ripple pump was pretty dumb, then we have the forkcoins taking an misleading amount of marketcap.
We also had panic moments on Bitcoin during the segwit drama, then the segwit2x drama, and the bcash drama as well. These events made many people put their money into altcoins temporarily thinking it would retain value there.
Long term Bitcoin must go towards %80 due Paretto law distributions and given all of these altcoins aren't solving any fundamental problems Bitcoin could have.
We also had panic moments on Bitcoin during the segwit drama, then the segwit2x drama, and the bcash drama as well. These events made many people put their money into altcoins temporarily thinking it would retain value there.
Long term Bitcoin must go towards %80 due Paretto law distributions and given all of these altcoins aren't solving any fundamental problems Bitcoin could have.
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Easy. If you take a look at historical snapshots on coinmarketcap and pay attention to prices and btc dominance, you'll notice that since bitcoin's creating the dominance has been mainly going down as the market was growing. When bitcoin's price gets higher, people start believing more in other coins as well, they think of it as of a great time to invest. Thus, the dominance goes down. If, on the other hand, things get bad and we have a bearish market, people sell all of their coins and transfer some of these funds into bitcoin. Some of them tend to think that even if the market crushes, the king will still be there. We tend to care more only about bc when things get bad, so we see how much marketcap it loses. However, other cryptos lose even more and thus btc dominance level is very high. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Right now, "bitcoin dominance" doesn't matter so much. If price of bitcoin drops others follow it, vice versa. It is a indicator for crypto market and determines where crypto market goes. There is no need to say more about it.
I’m very surprises that the Bitcoin dominance has been so stable. The dominance of Bitcoin should have gone up by now, but I think a lot of traders have sold Bitcoins into stabile coins. History has showed us that most Altcoins in top 20 getting changed every 2-3 years, only Bitcoins really stays up there.
I still think that the market are waiting for a far greater Bitcoins dominance, before the new Bull Run can start.
I still think that the market are waiting for a far greater Bitcoins dominance, before the new Bull Run can start.
During bear markets, there are times when bitcoin dominance falls due to the uncertainty surrounding the market. It is the nature of people to avoid traversing an uncertain path and take those that are relatively safe, and this is what's happening in bitcoin and other alts for some time. However, we can't argue the fact that there are still a lot of people eyeing bitcoin and trading it, hoping to make a hefty profit out of the mess, and positive news is also helping these traders to trade against the tides hoping that it will soon change, hence the unchanged bitcoin dominance %.
While I think bitcoin dominance isn't really that important, it helps us gauge the interest of the market over a certain coin, and to see whether it has swayed over to another coin or not to help us decide which crypto is to trade in a specific time-frame. On bear markets, it rarely changes, as a large percentage of traders still want to hold bitcoin and trade it compared to other coins.
While I think bitcoin dominance isn't really that important, it helps us gauge the interest of the market over a certain coin, and to see whether it has swayed over to another coin or not to help us decide which crypto is to trade in a specific time-frame. On bear markets, it rarely changes, as a large percentage of traders still want to hold bitcoin and trade it compared to other coins.
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Which is a sign that most of the investors lost their faith in the altcoins and just keep focusing on bitcoin and about the future of prices.By the way the dominace has no real value for bringing the bull run to the market,the bull run will happen only when increase in the cap values in the considerable amount. However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
jimmy song said .. the real innovation is bitcoin ... i guess that's that.
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