Topic: Why is Bitcoin market dominance rising fast? - page 9. (Read 1570 times)

From my own point of view, btc keeps dominating the market as a result of the crypto community, people are genuinely more inclined towards btc than any other alts out there,
the interest is more on btc than alts, even the none crypto peeps knows only btc as cryptocurrency, btc is widely use and accepted than alts, we have thousands of alts in the market but only few are recognize, but there is only one btc, almost everybody knows it and almost everybody have it or wants to have.

Simply, numerous altcoins popping the market everyday, have made Bitcoin remains the dominance.
None, of them are being different but just been a repetition of themselves.
Without Bitcoin, non of these coins would have exist and to make matter worst, the influence of most developers is not helping either.

Bitcoin never losses it potentiality, is what people see's it and the really appreciate it...Bitcoin started with low reputation but the community realize its importance in the current generation which it lead into huge market adoption and as well as the trust from the community.
People never sees's it to have a bad effect, therefore they give support into this and keeping it in the high demand than of altcoins.

Do remember please that the number of bitcoin is stagnant while the number of people supporting it will multiply everyday.

Yes, let us say it had been a crawling year for addition of supporters. But those are still a good sign that we are pulling more people in the bitcoin technology.
That total of number of bitcoin by now is getting shared little by little until we are holding just numbers of satoshis just so we could all share it.
At first I didnt thought about that.
When I watched rare things being discovered and other stuffs. That is when I realized bitcoin is a rare thing. Billions of people against 21 million coins.

Bitcoin is dominated by the development of cryptocurrency and blockchain technology in general.  I believe that a certain level in this area has not yet been reached.  Bitcoin will not stop its domination.

It could be as a result of people converting there altcoins to that of bitcoin which don't really think is a good decision simply because that will not earn the more money since bitcoin value is a bit high. For one to make profit from such convention one need to wait till bitcoin value is going down against altcoins then you will need to convert all altcoins to get more bitcoin units and wait until bitcoin value start appreciating then you will be in profit.

That's certainly true, mate. The rise of the altcoin market was largely attributed to the ICO craze back in 2017. There were many investors which contributed towards the demand of various altcoins, especially Ethereum. Once the hype was over, we've seen a substantial decline in interest among cryptocurrencies on the market. Bitcoin being the world's first cryptocurrency, has managed to retain its value over time (despite being extremely volatile in prices). Considering that many people still trust Bitcoin on top of other altcoins, it's no wonder why market dominance it rising at full speed.

I believe that the more Bitcoin's market dominance is, the better it'll be as most useless altcoins will experience a loss of interest among investors and traders worldwide. Only then, useful altcoins with real use cases for the mainstream world will remain in the scene (like Ethereum and Monero). It's only a matter of time before this happens, since we're already experiencing a massive decline in most altcoin's prices across the market. Whereas Bitcoin is rising in price, other altcoins continue to decline at a fast pace. This is an odd behavior of the crypto market, considering that most altcoins tend to rise in price in the same way as Bitcoin.

Nonetheless, there's a possibility that Bitcoin's market dominance will rise even further within the not-so-distant future as the Lightning Network gains massive adoption across the mainstream world. This would enable instant micropayments at extremely low costs, proving to be quite attractive towards everyday people and investors alike. As a result, demand for BTC will rise, while it's market dominance will continue to grow at a unprecedented rate. Which is why, early adopters of BTC would greatly benefit in the long term. Just my thoughts

Bitcoin has more than tripled in 2019, and it seems like a bullish market. Also, BTC is expected to hit $20,000 by the end of this year. This could be because BTC is gaining popularity day by day, and its users are increasing in number globally.
Even now, if you ask some of the people which cryptocurrency to invest in, they’d say Bitcoin without any second thought.
With this rising dominance, it is expected for altcoins to die soon as there is very less amount of altcoins available in the market right now. Bitcoin has always dominated the market flow, and it currently holds almost 70% of the market cap.
And, I think BTC will maintain this position for the future to come.

Some supporters of this aspect of why people sell their assets because there is indeed a sense of trust that has begun to decline since bitcoin reached its highest point in June. where the current altcoin movement is not big enough. some actually experienced a decline. and also this moment is where people see that the price of bitcoin will still increase and at that time the dominance of bitcoin in the marketcap has increased.

Does it really surprise anyone? Before the ICO bull run started, the Bitcoin dominance was above 80%. The ICOs and the emergence of new coins took the dominance below the 40% level. Now since most of the ICOs turned out to be scams, the dominance is going back to the previous levels (i.e 80%). Right now we are at 69%, but I think 80% will be attained by the end of this year.

In any case, first of all, we should not talk about the value of the cryptocurrency itself, but about what opportunities it provides to users.  At least for today, a very big problem cryptocurrency faces in the image of scalability.  It is the most rated cryptocurrencies such as Bitcoin and Ethereum that cannot attract big businesses to their use because of their low scalability, and many authoritative people have repeatedly stated this, including Vitaliy Buterin.

Agree. Bitcoin has always been the most prominent cryptocurrency to date. It's been battle-tested over time, proving to be the most secure cryptocurrency available on the market. Despite being resilient and extremely popular, it still limited in transaction capacity and privacy. There are other altcoins which prove to be better than Bitcoin in terms of features and technology. One of those altcoins is Ethereum which has faster confirmation times, cheaper fees, and most of all, smart contracts functionality. Being actively developed over the years, it has shown to be quite stable and reliable like Bitcoin is right now. It's no wonder why it's the second-largest cryptocurrency by market cap.

Still, people seem to prefer Bitcoin on top of other cryptocurrencies because it's the one with the most merchant acceptance worldwide. All the eyes are on Bitcoin as it expands towards new heights within the mainstream world. With many improvements on the way such as the Lightning Network, Schnorr Signatures, and even atomic swaps, it's only a matter of time before Bitcoin's market dominance continues to rise towards new ATHs.

Nonetheless, Bitcoin's fast upsurge in market dominance shouldn't be a reason to worry, as it's the most trusted cryptocurrency in the world. It's always been the leader of crypto, delivering outstanding development and innovation. The more Bitcoin's dominance is, the worse it'll be for altcoins as their value will become lesser over time. In the bright side, this should allow Bitcoin hodlers to obtain more altcoins at a cheaper price. Just my opinion

I wouldn't exactly say exponential though. If anything, these 2019 highs are probably a build up to a maximum of 75% or 80%, but we'll never see more than that, and never for too long. Even a maximalist has to agree that a culling of say 90% of altcoins might take Bitcoin dominance up a lot, but that kind of crypto fallout would also affect Bitcoin price, diminishing its dominance.

This is the scenario for the next few years anyway. I do believe at some point, Bitcoin will be one of very few to survive and strengthen, and "cryptocurrency" will again be synonymous only with the few that find actual use among everyday people. All other tokens will be negligible in the ocean of Bitcoin.

I think the overall reason why Bitcoin's dominance is rising is its bullish sentiment all over the market. The long anticipation of another strong bull run has contributed a lot to the bullish sentiment. 2018 was almost an unbelievable year, with Bitcoin losing significant value. People were selling at a loss, many due to panic. And I think most of the weak hands have been purged already within that year. 2019 is therefore full of optimism. Perhaps many believe that the right time for Bitcoin to finally rise again and be able to shatter its previous ATH is within 2019.

As regards Lightning Network, I guess it is also contributory to the overall bullish sentiment, together with a few more things such as the upcoming reward halving. All of these could certainly push Bitcoin toward a new ATH within the year.

Most of the altcoins are expected to suffer within the year. Many will also die for sure. And I am looking at it as a good way to wipe off the shitty ones. But I hope the solid ones such as ETH or LTC will remain in top shape and will somehow benefit from the bullish Bitcoin. 

Bitcoin has grown more than 990% since January 2019. The crypto is following a bullish market and is anticipated to hit $20,000 by the end of 2019 or the beginning of 2020.
It is only natural for some Altcoins to die off because of the number of them that are present on the market right now. Bitcoin has always dominated the market flow, and it currently holds almost 70% of the market cap.
Being the biggest blockchain and the biggest mover of money in the crypto world, Bitcoin seems to maintain its position for the future to come.

After the recent Bitcoin Bullrun Bitcoin market is shining again and the level of acceptance has increased which is somewhere responsible to increase Bitcoin market dominance as compared to the other altcoins available in the market.

The bitcoin dominance at around April or so started to advance but not as fast as a couple of weeks ago. Back in April, people were mostly selling their alts for Bitcoin and hence the given rise of BTC price and lower alt prices, especially the ratio.

However at the beginning of Aug, it had a steep rise and I am to believe it was mostly people who were trying to catch the falling knives back in June/July 2019 there were getting burnt and stopped out. Especially with Bitfinex, Bitmex, Binance offering margin trading and most likely its why the drops were so severe due to liquidations.

Because there is no serious project on going or a project to do advertising as much as people advertise btc.

btc pioneers instead of promoting crypto as idea they have promoted only btc to the new people, thats why.

and now there is almost no good coin!

There are several reasons that bitcoin dominance is rising fast. one is it is the first crypto in the market and second one is it is decentralized.

that is true but it was not all because of the altcoin pumps but also a big percentage of it was because of the high rate of new coin creations. i remember back in 2017 there were days that we saw multiple new tokens appear out of nowhere and each had unbelievably huge supplies! they were practically creating millions of market cap out of thin air and in a matter of seconds.
so obviously as they are dying they are taking that fake market cap out with their death too.