Topic: Why is Bitcoin market dominance rising fast? - page 3. (Read 1570 times)

but that is not enough reason on why btc dominates and rise fast because if we take a look around , there are coins that are also trusted and profitable or i can say slight better than btc.   the only advantage of btc to them is i think the time of creation where btc is created too early before anything else. 

its rising fast because btc is consider as an official crypto or the one that represents all of the cryptos.  few markets started to accept btc before and others are following , this is the other reason why its indemand

Because investors trust him and see that it is bitcoin that brings income

It's normal that Bitcoin market dominance rising fast. It's happening because of its popularity and value. Bitcoin is the first coin in crypto, it is preferred by most of investors. I am sure bitcoin market will keep dominating as most of altcoins are just a garbage.

altcoin is a coin variant that was born after bitcoin. altcoin was born from the results of the development of the bitcoin source code. Bitcoin was created early is a pair with USD. thus Bitcoin is by far the largest volume in crypto trading. while altcoin, altcoin developers want to follow the popularity of bitcoin. I don't think the altcoin market will die easily either. but will change from one to the other. if someone dies, someone will be born again.

This past few years, many cryptocurrency come up in our world and because of that we gain some opportunities from this to earn some income.One of this many cryptocurrency is the bitcoin. Bitcoin is the most famous among them and with that, it is very dominant to the market because of no. of users used this coin.

bitcoin dominates the crypto market in my opinion because bitcoin is the first coin in crypto and is also the most expensive value. and most people enter the crypto market because of bitcoin. and the last two years the movement of altcoin is very weak and most altcoins cannot last long in the crypto market and also now many ICOs are scams. so this makes investors not interested in buying or investing in altcoin. they prefer bitcoin which has proven to be safe and has lasted long in the crypto market. but I am optimistic that when the movement of bitcoin is good then altcoin will also be back green. maybe this recovery will take a long time.

I'm not so sure of that. I believe that the dominance metric is taken way out of context---people first claim it's useless when Bitcoin's dominance is low, then when it's going up they start celebrating and trash altcoins.

I know a lot of people want to see altcoins vanish from the market, but that's not going to happen, regardless of how little utility they bring to the table---utility people never cared about with how they only focus on massive pumps.

If you ask why people trade altcoins, in most cases they will tell you to increase their satoshi count. The way altcoins pump and dump makes it very lucrative for traders profit. All they need is a chart. Utility is meaningless.

Probably. After all, there's no reason why Bitcoin should be avoided in the first place. Altcoins are still inferior than Bitcoin, as they don't have recognized branding within the mainstream world. They also lack user adoption, which explains why their infrastructure is much smaller than that of Bitcoin. As the pioneer cryptocurrency improves every step of the way, we'll see a much larger audience supporting it in the future. Altcoins may have better tech and features, but they're not as reliable as Bitcoin is. For this and many other reasons, investors have chosen Bitcoin as top crypto on the market. Being the first cryptocurrency in existence, has obtained quite an advantage over its competitors.

I believe that Bitcoin's market dominance will always be higher than that of altcoins. Right now, things have stalled a little across the crypto market. But Bitcoin still is the winner with the biggest market cap on the crypto market. Within a couple of years from now, we could see Bitcoin reach a market dominance of 90% and above. After all, Bitcoin's market dominance was at its ATHs back in 2013. Time will tell us whenever Bitcoin will remain as the winner or another cryptocurrency manages to take its place on the market. Just my thoughts

The demand is the easy and most straightforward explanation but the real reason is there was a lot of money on the market in 2017 and 18 when people were investing in ICOs and now when those failed and so many altcoins have died people are looking for a something to weather the storm and that something is Bitcoin.

They can't pump it a lot because they lost so much money on ICOs that even if they sell now to buy bitcoin they're getting less than 10% of the money they had last year but this 10% is going to bitcoin not another new altcoin. They aren't going to be fooled twice.

Bitcoin dominance is rising because the majority of people are buying only bitcoin. Market dominance determines the popular coin in the market, the coin majority of the people are buying. There is no doubt, bitcoin is the most popular crypto with over 68% of the market dominance and the rest of altcoins got only 32% of the market.  

Bitcoin, being the first of many, has been centre of attention on the cryptomarket for the longest, people have been able to see what you can do with it and how much money there is to be made. It has been accepted into our daily lives at some degree, and other than small daily transactions, it is doing a fantastic job. The Altcoins have their better qualities, like faster (almost instant) transactions and people are starting to see that (which is why many of them are in the green). Having said that, the mass trust in BTC like in no other currency, better or worse, so my prediction is that the market dominance will only get bigger.

First of all, Bitcoin is the oldest and the most popular cryptocurrency in the market. Bitcoin has Lightning Network and it speeds up the payment transactions in places that Bitcoin is used as a payment option. And of course, Bitcoin is the most valuable crypto for a long time.

I believe the best reason why bitcoin is gaining a fast market dominance is because its own market price is always in a progress. Even a lot of times bitcoin has dropped its price, it still managed to recover after a couple of days or months. Unlike altcoins that are in a continuos decline and so more investors today have sell their altcoins and buy again new coins with potentials like bitcoin.

because almost everyone knows many people interested in bitcoin have a lower Fraud Risk for Buyers. Transaction fees for bitcoin payments are significantly lower compared to those made for credit and debit card purchases. There is no third party involvement. so that bitcoin is trusted by many people to make transactions or invest.

Because of the demand, I think? We know bitcoin ever since it is the top dominating cryptocurrency it is the most used cryptocurrency and the main picture of the cryptocurrency world so it is normal for bitcoin to be at the top in dominance. Plus that most users are trading mainly bitcoin and not altcoins under bitcoin so that adds up and ended up bitcoin havin the top dominance.

I think the reason why bitcoin market dominance is rising fast is because it is really the most popular cryptocurrency. When I first heard about bitcoin, I taught it is the only digital currency available, that is why it is the first that I have tried and because of continuous using, it became my mostly used. I think what happen to me is the same with the other new investors at first. Also, knowing the pros of using it and knowing it is the mostly used, then it is the one that will be chose. Even I will choose the most popular right? But don't get me wrong, it doesn't mean that it is the most popular also means that it is just popular. We all know what bitcoin can bring to the table.

it can be said why the dominance of the bitcoin market is increasing maybe because when the price of bitcoin is bullish, but if other coins (altcoin) might still not be obsolete because now we can see that bitcoin is going up, other altcoins will also go up, from that analysis it can be said that altcoin or other coins can not be said to be obsolete.

This could be also because the doubters are turning to be a believer, after doubting bitcoin, making allegations, rumors, and other gibberish things about bitcoin. I'm guessing it won't take that long for bitcoin adaptation dominate the whole world, including the Government that is been spreading FUDs to the public which is exasperating. Well they can't help but to spread bad rumors about bitcoin because they are mad for not having control on it.

Bitcoin market dominance rising fast because all investor look working together want to invest their money in bitcoin and looks do not care about altcoin investment and make bitcoin have higher transaction.

Probably. We all know that the crypto market behaves in strange and bizarre ways. Since 2018, things have proceeded negatively for crypto. There's been lack of interest within altcoins in general, as investors support Bitcoin in every way. This may not last for long, as altcoins are implementing innovative features for the mainstream world to use. There are many cryptocurrencies out there which are faster than Bitcoin itself. Once the pioneer cryptocurrency becomes slow and expensive again, then investors will head back to altcoins.

I believe that Bitcoin's market dominance will always be high for a good reason. After all, Bitcoin's the most secure cryptocurrency to date. No other altcoin, could match Bitcoin in terms of resiliency and censorship-resistance. But of course, this doesn't mean that altcoins will disappear altogether. Only a select few will remain in the space due to their dedicated development and innovation over time. Ethereum is one of those altcoins that will remain behind Bitcoin for years to come. When altcoins rise in price while Bitcoin remains stagnant or bearish on the market, the pioneer cryptocurrency's market dominance will decline. The same thing happens vice versa.

Nonetheless, with the level of growth Bitcoin has experienced over time, its market dominance could reach 90% and above. Before the bull market in 2017, Bitcoin used to have an extremely-high market dominance. Time will tell us how farther will the market reach as institutional investors come into play. Just my thoughts