Topic: Why is Bitcoin market dominance rising fast? (Read 1570 times)

I believe that the market is being manipulated by whales than anything else. They're "playing" with Bitcoin, as well as, other altcoins on the market. At times, they cash out a portion of their altcoins into Bitcoin and vice versa. That's why we see a fluctuation in Bitcoin's market dominance across the crypto market. But at least, Bitcoin has maintained itself as the leader of crypto for quite some time. As more altcoins are created, you'll see Bitcoin's market dominance diminished by a small margin. The next bull run, will greatly determine how farther Bitcoin's market dominance will increase.

Nonetheless, Bitcoin's market dominance tells us nothing other than how prominent the cryptocurrency is in terms of price relative to other coins on the market. What matters is how useful the pioneer cryptocurrency is within the mainstream world. No matter what its price will be in the future, if it's useful enough for the average person then I believe that's sufficient. Things will become interesting with Bitcoin once the Lightning Network gains full speed ahead in mainstream adoption. There's a high probability that Bitcoin's price (and market dominance) will become higher over time. Which is why, early adopters of the cryptocurrency (like you and me) will greatly benefit from this in the future. Just my opinion

That's interesting question 

It's going to keep rising because altcoins are still getting hit harder than Bitcoin and people are not dumb, they can see it happen and they can count. The more altcoins get hit the more people want to jump of this train. I know this is counterproductive and when something gets hit really hard and loses 80% of its value you should jump in because the probability of a bounce back gets higher and higher. The majority is dumb and predictable and they will move to fiat or to Bitcoin because it remains more stable than altcoins but save investments don't pay out.

The last two years, the altcoin market has actually been in a bear market. Altcoins almost did not grow even when in the second quarter of this year bitcoin increased in price by almost four times. Under these conditions, investors are more likely to invest in bitcoin rather than in altcoins. Including therefore, the capitalization of bitcoin is increasing. I think that if by the end of the year bitcoin does not meet the expectations of investors, its level of capitalization will fall. In addition, this process will largely depend on the behavior of altcoins in the cryptocurrency market.

Bitcoin is among the best performing cryptocurrencies this year. Many people are now buying bitcoins because it is more profitable than many altcoins out there. I think the bitcoin market dominance is growing because the majority of people are buying bitcoins, not altcoins.

This is all because of the trust factor where investors or traders only become Bitcoin as their investment. While for Altcoin, only some people are interested in investing. This of course makes the dominance of Bitcoin over Altcoin continues until the Bullrun market occurs then the Altcoin season will arrive.

I think that is because bitcoin is the most used cryptocurrency in every transaction worldwide. Let me give you some examples when you want to invest in some projects here, you need to have bitcoin first because most of the projects only accepting bitcoin as payment for support. And in gambling also, bitcoin is the most used coin for betting and playing other games. There are lots of transactions in accordance to bitcoin so there is no question about why it is dominating other cryptocurrencies. Lastly, bitcoin become popular all around the globe and gain a lot of investors and traders as they recognize the goodness of using this kind of currency.

It has the possibility to happen. Since altcoins are created to become its alternative.
If ever that bitcoin was banned in a certain country, its users can switch their funds instantly to altcoins so it will never die.

The dominance of bitcoin was rising fast because it has the largest blockchain, we must also consider that we can only buy an altcoin in the market using our funds that has been converted to bitcoin.

The bitcoin market dominance is rising fast because the majority of people are buying bitcoin from individuals to institutional investors. The cryptocurrency market favors the bitcoin this year more than altcoins that is why the bitcoin price is growing faster than the majority of altcoins.

Actually, altcoin's existence is important to cryptocurrencies. Let's say in a world where Bitcoin, the use of bitcoin, the trading of bitcoin is banned everywhere or somebody actually destroys the bitcoin network. People can move to other coin networks if tragedy happens. No one knows what the future brings.

Bitcoin has been the dominant force in Crypto world. It not a surprise that it has obtained greater prominence within.

I don't think altcoin will ever die, because more and more altcoins are appearing in the cryptocurrency world. some were destroyed, but newer ones appeared. In my opinion altcoin will still accompany bitcoin in the crypto market, but its popularity will not outperform bitcoin. when you ask, why is the dominance of the bitcoin market so fast. in my opinion because bitcoin is the best coin among other coins and bitcoin is more attractive to investors than altcoin. although bitcoin is one of the limited crypto currencies in supply with an exceptional development team, but in my opinion altcoin will always be in the crypto market and will never be obsolete. because there are definitely traders who use altcoin to make a profit.

Bitcoin already hit its highest point of dominance for two years causing its counterpart to be down. Bitcoin's value and huge exposure in the market and mainstream drives it's dominance up making alternative coins be left behind. According to tradingview.com, as of September, bitcoin's dominance is still over 72% which strongly tests the supports and users of altcoins. We can't still say that altcoin might completely vanish, what's sure is it will be hard for altcoins to overthrow bitcoin.

Who are these people?seems like you have your own statistics!!mind to share with us?since it’s very interesting to learn that people here knew that investing in altcoins is a waste of money 😂
I don’t know where did you get these stupid ideas or you are just pointing for pump and dump altcoins?lol why not look at this maybe you know nothing about market capitalization

https://coinmarketcap.com/

Lol if that’s your only basis then you are totally wrong because bitcoin dominance is indeed but altcoins also grows with this top ranked currency

After the bearish year of 2018, people are taking precautions when it comes to investing in altcoins. People have shifted from altcoins towards bitcoin. If you have noticed, recent trends are showing that altcoins aren't following btc price movement lately. This is because of the low volume in altcoins. When Btc made a jump of $3k in a week in April, altcoins went bearish. This increased the marketcap of btc and since then, altcoins have bottomed out but BTC is going up.

Amongst the reliable coins that people do use for transaction, I think that bitcoin is even the cheapest for now, and funny how Ethereum that use to make gest of bitcoin transaction fee is even now higher than that of bitcoin.

No matter how big these coins may think that they are, bitcoin would always be their leader and will always gain more dominance more than them, and especially now that most of the ico project are really so much disappointing people and now, people only want to rely on bitcoin since it has been in existence for so long and has accommodated so many people without disappointing them. Most of the other projects that have promised to be trustworthy have all been compromised and this is like 10 years of bitcoin, and has never been compromised.

The market is dominated by bitcoin, I think that's fair. Bitcoin has a price that is very much different from other altcoins. The limited amount of bitcoin and high market demand makes it quite expensive. Altcoin is not like bitcoin bitcoin, altcoin I think it needs a sensation to be able to go up and not infrequently altcoin can't maintain its price on the market. The hype in the market will continue to exist, because in my opinion every thing that can be achieved by an altcoin company is hype for traders.

Altcoin not dominance because always price not higher after investor buy and invest on altcoin, they only take investing with bitcoin and dominance of bitcoin very higher every day, altcoin keep lower price and less dominance in exchange market, for back altcoin dominance have use good way when altcoin back to higher price its time faster dominance of altcoin.

In my opinion "Bitcoin is the mainstream manifestation of the Blockchain" people have had of it back in the 2013 till date and associated themselves with the project. Bitcoin has gained many companies and also the upcoming ones want to associate themselves with Bitcoin. The trust of individuals when it come to bitcoin cannot be over emphasize, they have seen it as a legitimate digital asset. More also, Bitcoin is a store of value, it looks good on a long-term investment compared to altcoins. Bitcoin can be consider as a global currency, if this happen, the entire market will be dominated by the said Bitcoin.

Even when Altcoins began to sink, there will still be a bottom where their prices will not fall below this level. And who said that there will be no hype in the cryptocurrency market in the next 2-3 years?