Topic: Why is Bitcoin market dominance rising fast? - page 6. (Read 1570 times)

This guide says that bitcoin has very limited supply , plus after halvening comes, its going to get worse for new supplies. With its rarity,  it is already regarded as gold 2.0 by many. Given its popularity as the world's most famous coin, we shouldn't be surprise that it will have a good run in the market and probably dominate for a long time.

I am not worried at all that it will become centralized or it will kill the rest of the crypto market. There will always be a market for other cryptos and blockchains too , because for one reason, bitcoin cannot develop smart contracts and DApps.

That's certainly true, mate. Bitcoin has been trusted for a very long time, since it has been the world's first cryptocurrency with a proven track record of stability and security. When you compare other altcoins against Bitcoin, none can match its censorship-resistance and resiliency. I believe that the reason why market dominance has been rising so fast is because people became tired of most altcoins which made lots of promises without delivering real use cases for the mainstream world. Only a select few altcoins are extremely prominent with active development and innovation. Still, they're not comparable to Bitcoin because of many obvious reasons.

The more Bitcoin rises in dominance, the better it'll be as altcoins that are useless will fade into oblivion. Every day, altcoins decline in price at a faster rate than Bitcoin. Right now, Bitcoin has retained is value while most altcoins are even cheaper than they've used to be. In the end, we'll be dealing with an extremely limited number of altcoins on the market (like Ethereum, Cardano, EOS, and Litecoin) while Bitcoin remains as the "King of Crypto" for perpetuity.

Nonetheless, it's hoped that Bitcoin's market dominance will rise even further with the introduction of a stable version of the Lightning Network + Atomic Swaps. Only then, most altcoins will be rendered useless, greatly contributing towards the demand of Bitcoin for years to come. Just my thoughts

if you observe it , it is because of the investors.

This is the reason why bitcoin is gaining more dominance in the market  because its now giving signs of positive price development that will possibly lead into bull run in the next few months unlike altcoins that are making their prices declined and never shows any positive development. So people now are more into selling their altcoins just to buy bitcoin to invest and hold.

It is because a lot of people see how Bitcoin is being adapted worldwide while it is also being used as a way to pay for any services/products they sell. This is how the blockchain technology changes the world. No one was expecting to see the price to surge up to $20k in 2017 and with the news of the upcoming halving of Bitcoin, people expect already to see a new ATH next year.

To add to this, bitcoin is a general accepted digital currency and the first-ever to be given such priority over others. The emergent of bitcoin gave rise and paved the way for for other cryptocurrency in the blockchain domain. And as a result of this, it was given the preference over other digital currency where it can be used for exchange of other commodities.

Why is it concerning that altcoins aren't performing well? I think it's perfectly normal for shitcoins not being worth anything to not perform well. I do however have to point out that in dollar terms altcoins are doing fairly well. It's just their Bitcoin ratio that has dropped hard. That's what you get when you exchange your precious Bitcoins for trash.

What I find more concerning is that the same people who initially said that the dominance metric is useless, are now cheering for the dominance to be going higher and higher.

Crypto is irrational. No matter how worthless altcoins are, we'll be getting some sort of an altcoin pop at some point which will significantly decrease Bitcoin's dominance again. If enough people give up on altcoins in the coming months, the market will catch them by surprise and a massive bull run initiates due to people fomo'ing back in. It ain't done yet. The only questionable aspect is the timing.

That's really an argument. Despite the increasing number of altcoins, bitcoin continues to develop, grow in price and allow us to earn on it. And he will remain a leader for a long time, everything says about it. Though among the altcoins there is a worthy technology.

Bitcoin has always been a leader, and mostly because it was created first. This is an advantage that no altcoin can overcome. And in fact, I do not know a single coin that would be better than bitcoin. And that's what most people think, as we can see.

That is for sure that nothing like bull run would ever happen this year, most of us are all expectant of next year and I think next year would really be a successful one because there are so many projects that are developing right now that would continue to the growth of bitcoin in value coming year.

And also, the halving of bitcoin is expected same year, so it is very glaring that bitcoin bull run would be toward next year may and as we are having series of corrections this year, we should only be seeing it as an opportunity to accumulate as much as possible for bitcoin and even for altcoins that we see discouraging us today. There is lot that will happen in the marker of altcoin next year also. Facebook coin, amazon coin, Chinese coin are what will make crypto market boom again.

Well, first of all, as you say, the evolution and popularity of bitcoin has been built stronger than ever through information and forums, that makes a lot of new investors enter the market, focusing on accumulating quite a lot of bitcoin, trends in the crowd appeared, Bitcoin continued to dominate stronger. Besides, we can see the strong impact from facebook, more precisely, it's called libra coin, a crypto platform, everyone knew more than crypto through the event, especially knowing that bitcoin was the best, all of which helped bitcoin go up to an absolute dominance.

Bitcoin market dominance is rising fast because bitcoin market is support by positive news and financial institutions from wall street so btc is pumping towards positive domanince and market capitalization

Bitcoin’s (BTC) parabolic advance over $12,000 has taken its market dominance above 60% for the first time since April 2017, data from CoinMarketCap

Following its rapid appreciation in recent days, the bitcoin price reached levels not seen since immediately after the end of its 2017 bull run.

The successes have come at the expense of altcoins, which have so far failed to produce similar performance. As a result, BTC dominance of the overall cryptocurrency market cap is now 62% - more than at any time in the past two years.

Bitcoin’s market cap now stands at $226 billion out of a total crypto cap of $365 billion.

Bitcoin commentators rejoiced at the latest dominance figures, with the Twitter account known as Armin van Bitcoin adding he distrusted CoinMarketCap and that the actual number was closer to 95%.

Practical evidence proves the power and stability of Bitcoin.

there are always going to be a lot of people who are waiting for a crash to happen in any market and then call that a "correction" that doesn't mean bears will be back or even if the crash they expect is going to happen.
the problem with these people is that they have unreasonable expectations from the market. for example right now in bitcoin, the correction has already happened when price reached $13k and came back down to $9k. and that in a very long and sufficient time to not just be an excited market state, it was a proper correction and everything.

From a technical point of view and at the negotiation level, Bitcoin can come from a somewhat extensive accumulation stage, which means that the Altcoins have suffered great falls due to their dependence, there is currently a lot of prominence in the world, for economic problems in nations that have boosted the demand for Bitcoin.

Many analysts have confirmed the change in tendency, to bullish, although some still think that the bears will arrive, when observing the Bitcoin chart, according to Wyckoff's theory we are starting the bullish trend phase, and before that some falls and corrections occur, It is normal, the fight between bulls and bears, but given the time that Bitcoin movements have taken place, the increase in price is expected.

People worldwide are beginning to enter the Bitcoin market, they find it much more attractive to understand Bitcoin and its technology because it is the currency with more value and the most coveted than the Altcoins, some alarms that have been given so much in Argentina, Brasil, Like other countries, when accepting the negotiations with Bitcoin, it has aroused the interest of acquiring to hold, because they should know that its maximum value was for the $ 20k and that according to the news many high prices are predicted, which brings as a benefit that the demand increases .

The main reason why the dominance of bitcoin has grown so much now is that now everyone expects a rise in the price of bitcoin and therefore they are transferring their funds to bitcoin. Because of this, altcoins practically do not grow in price. I advise you to keep good altcoins, the situation will definitely change over time.

Although bitcoin dominant rising fast, the price is not following to increase, and it tends to stable at a price now. Maybe the price still waits for the right moment to increase the rate so the dominant will rise more than now. Every possibility can happen later, and we could only predict, wait, and see, while we can use this time to buy more bitcoin. Meanwhile, the price itself can increase in anytime without we know the reason behind that, but I am sure that many people wait for the price to reach the highest rate again.

I wish it will easily happen, we all want BTC to rise and have a new ATH, but I not likely to happen this year, I mean the chances are low although it still possible to reach a new high in the last quarter like what happen in 2017.

The concerning part for me in the growth of the market is the altcoins market, without good movement this year and bitcoin continues to recover, this might result to more increase of dominant rate for BTC to 80% or more and this ins't attractive to look at all on the overall market status.

bitcoin market dominance is growing fast because the main reason is market is taking new parabolic path for gbrowth with this new cycle we will see new price growth new alltime high

In the market there are certain factors which contribute to the popularity of Bitcoins such as :-

 * Bitcoins is already so famous
 * It was the first crypto
 * It is more trusted
 * People know it's not a scam , that you cannot say about any new coin
 * Government is trying to ban it and media is covering that issue too intensely thus government is indirectly providing free advertising
  Etc...