Topic: Why is Bitcoin market dominance rising fast? - page 8. (Read 1570 times)

no, it would not make any difference at all.
just the same way when this percentage fell down to 40% it didn't change a thing. to put simply, nobody who matters (that is traders) cares about this number. it is just too meaningless. the only thing that this is used for is in news sites and altcoin advertisers.
other than that, the altcoins will continue their death while getting some pumps from time to time that revives them for a small amount of time.

Maybe that's because of the fact that many people lost interest in cryptocurrency already because the price dropped quite drastically than last year, but there are also still many people that believes in the prediction that bitcoin will become big again in the future, reaching $20k or even $100k. So many people choose to stay with bitcoin, which is the most valuable one rather than the altcoins. Many people sold their altcoins because they don't think they worth anymore. And i think it's just normal considering bitcoin price is more stable, i mean it's safer to be used as investment rather than altcoin that's not really safe and many of them had died already.

It appears a lot of investors are beginning to lose interest in altcoins and moving to a less risky and more reliable cryptocurrency being bitcoin. This is evident in the continuous dwindling of the price of etherium being the leader of altcoins against bitcoin. A lot of persons have believed in altcoins and a lot that promised being a replacement to bitcoin but never achieved it and making a lot of persons invest in the for long term but they were a gross disappointment.

In addition to traders and investors, Bitcoin has become interested in the Dark Net. With the help of Bitcoin, it was possible to launder money and just make transactions, it created a large coin flow one and it made Bitcoin very prevalent

I think it is a very good sign that BTC market Dominance so fast. In 2017 when BTC market dominance another alt market also go up fast. So, though in recent time market is very much imbalanced but i think for time being it will go its previous position so that all altcoin also grow up. So be patience and wait for batter days.

It has become evident than Bitcoin will always be the leading cryptocurrency of the world because of its unparalleled development and innovation. People tend to trust it more than any other altcoin because of this. Of course, the value or price is largely determined by the investors themselves. Considering that Bitcoin is the first cryptocurrency ever created with an innovative technology (Blockchain) that promises to change our economy for the better, it's no wonder why it has so many followers behind.

Personally, I wouldn't mind if Bitcoin gets a market dominance of 90% while other altcoins sink both in price and user adoption. It would greatly show us how strong Bitcoin is relative to other "copies" with no future or real uses cases at all. Despite this, there are only a select few altcoins like Ethereum and Cardano which are quite unique among the rest of the pack. As Bitcoin continues to rise in price and user adoption, we'll get to see other altcoins abandoned by the people in favor of the original cryptocurrency. Still though, crypto behaves strangely (unlike the real stock market) where no one can predict what the outcomes will be within the future.

While there's no doubt that Bitcoin transaction speeds are low, and fees are high, there's already a solution in the works that's bound to make Bitcoin bigger, better, and stronger than ever. This solution called "The Lightning Network", could take Bitcoin towards new heights in market dominance if successful. Perhaps, that's why many people say that most altcoins will be rendered obsolete or useless in the future.

Nonetheless, I believe that we're heading back to the events of 2013 where Bitcoin's market dominance was around 95%. As soon as the next bull market takes effect, Bitcoin will be the cryptocurrency with the most gains making this a reality. In the end, it's up to us as early adopters of the cryptocurrency to hodl for the long term no matter what. Just my thoughts

If Bitcoin achieves 80% market dominance, then I am afraid that a lot many of the altcoins will simply die out. I don't think that so many coins can survive on so little market share. Also, in my opinion there is not going to be any altcoin bull run in the future. Bitcoin will simply surge ahead and may reach 90% or 95% eventually with the remaining market share held by Bitcoin forks (such as Bitcoin Cash, Bitcoin SV, Bitcoin Gold and Bitcoin Diamond) and the stablecoins (such as Tether, USDC, Pax, TUSD.etc). If the ICO/IEO market goes down permanently, then I don't think ETH will be left with much of a use. That coin will also inch its way towards a slow death.

Perhaps because of the large number of altcoins whose projects cannot produce products so investors have diverted their investment to bitcoin. In addition, in my opinion investors have begun to realize that bitcoin is a long-term asset so that they now prefer to sell their altcoin and buy bitcoin

I think the reason why Bitcoin seems to be gaining dominance over the crypto space is because of the interest in investing into bitcoin and the huge returns that it gives. Also, with news of bitcoin halving just around that corner, many investors want to get into this bull run of bitcoin that would come shortly.

It could be that many people are sellingor converting there altcoins to bitcoin which is one of the factors that do lead to the dominance of bitcoin and decline in the value of altcoins.

This is a four year cycle and it will repeat itself. These days altcoins have crashed to the maximum and we can soon see a bounce back in them. This is a game of patience. Those who showed patience when bitcoin was around 3000$ were rewarded as bitcoin is now worth more than 10,000$. Same thing will happen with altcoins but before the altcoins bull run they will rule out the weak hands.

First of all, Bitcoin is the reserve currency of the crypto world like what USD is for the rest of fiat. Because of its first mover advantage, it has the most liquidity and it is the most recognized cryptocurrency. Hence, people interested in crypto flock first to Bitcoin, the reserve currency.

That's why when the 2018 bear market happen, altcoins crashed more than Bitcoin. And Bitcoin crashed 84% from its all-time-high.

Now that people are getting back in, the first purchase will always be Bitcoin before they discover there are other types of blockchains.

The big question is what will happen after bitcoin has attained 80% dominance level ? Will it fall from there and the money will again move into altcoins which may turn out to be altcoin bull run ?

I think there is not much of a difference among cryptocurrencies

At least, not in, say, the first dozen of them (regarding the source of their value) as their value comes through speculation anyway, so it just happens that Bitcoin is pumped now while altcoins have been dumped (rather, it was pumped and now it is about to stagnate). And technically, OP is not quite correct as altcoins had been surging for a couple of months or so in the first half of this year by far outperforming Bitcoin, which was lagging behind (even though this growth was evidently fueled by Bitcoin itself). I refer to such coins as Litecoin, Bitcoin Cash, EOS, maybe Ethereum, to a degree (the latter performed more like a lame horse on juice until it finally crashed)

After experiencing a very sharp decline, the crypto market has a hard time back up. And investors realize that in order to make the market back successfully, they must raise the price of Bitcoin. So Bitcoin now dominates the market and often big pumps happen. It is slowly the price of Altcoin is also up, but to see the Altcoin back successfully, we have to be patient.

People started realise that its actually one invention and all others are worse copies
You can't beat bitcoin, it have international developers, revolutionary code and it would need another technological revolution to beat bitcoin. Maybe in 100 years

Crypto is increasingly popular, especially bitcoin as a pioneer of crypto of course people will be more inclined to bitcoin for their main investment. bitcoin dominance will certainly be very high compared to the others. besides crypto which is increasingly in demand from many financial systems, payments and so forth. will make bitcoin dominance even more powerful not only in the scope of cryptocurrency but also in all currencies.

Honestly, the dominance of Bitcoin is alarming at almost 70% of the general market. But I think it's because investors are yet to show confidence in altcoins after suffering great and colossus losses in 2018. I wish we csn revisit the 2017 era where so much confidence was reposed on altcoins and the general market cap soared to over $800b. At that time Bitcoin dominance plummeted to below 40% and the market saw an unparrelled growth like no other.  With this current dominance, it will be very difficult for the crypto industry to record any major growth.

For me, Bitcoin is a phenomenon that is very difficult to explain.  Of course, it can initially be assumed that Bitcoin was conceived as a means of payment, but they will never use Bitcoin for this, because even the transaction speed is not too favorable for this and there are quite a few other problems on the way to implementing these plans.  In my opinion, there are many cryptocurrencies that in terms of characteristics can be better than Bitcoin, such as Ethereum, but nevertheless, Bitcoin still holds a leading position, primarily at the expense of investors.

I am sure that everything lies in trust. When Bitcoin began to grow and develop, other altcoins only appeared, but people continued to believe in Bitcoin because of the lack of a governing body. Bitcoin is independent, and its creator is unknown, perhaps the success of the coin lies in this