Topic: Why when the market decreases the percentage of BTC increased? - page 2. (Read 244 times)
September 17, 2018, 11:53:09 AM
And for this reason Bitcoin is called the king of Cryptocurrency. altcoin price fully dependent on the price fluctuations of Bitcoin, but Bitcoin price does not depend on the altcoin. When price is low of Bitcoin, people buy it more for the near future. They sell all of them when, Bull run start.
September 13, 2018, 11:14:48 AM
I have been in the cryptocurrency market for almost two months, I observed that when the market fell, the percentage of BTC always increased. The current percentage of BTC has accounted for more than half of the market. What does this mean? Can anyone give me an explanation, and why is BTC? not another Coin? Because in my opinion, BTC is affected by market volatility more than the Altcoin!
When prices drop people usually shift to BTC as it is the strongest cryptocurrency in terms of volatility, prices swings on the way down aren't as aggresive as they are in altcoins, plus if everything else begins to fall, you can bet that Bitcoin will still hold strong. Also, people usually trust Bitcoin a lot more than alts during a downtrend, that's the % keeps increasing during the bear season.Now that we're in an uptrend, people are beginning to sell their btc for alts, you can see how the btc dominance has gone down by almost 2% over the last 24h, pretty normal if you ask me as people want to trade alts again.
September 13, 2018, 11:10:33 AM
Bitcoin is the king of all cryptocurrency so it mean if the price of altcoins and token will fall? Do you think bitcoin will happen too? If you can see now ethereum has already dropped a huge price all over 75% price lost if you calculate its price in the past price of ethereum but in bitcoin this is not happen.
Most of the time the scenario would be:
Bitcoin rises; altcoins rises with it.
Bitcoin drops; altcoins drop with it.
Certain altcoins drop; bitcoin stays neutral.
It's mostly because altcoins follow the price of bitcoin due to almost all the trading pairs being BTC/altcoin; but certain altcoins can drop on their own due to multiple possible reasons(scamquits, missed deadlines, etc).
September 13, 2018, 11:02:47 AM
I have been in the cryptocurrency market for almost two months, I observed that when the market fell, the percentage of BTC always increased. The current percentage of BTC has accounted for more than half of the market. What does this mean? Can anyone give me an explanation, and why is BTC? not another Coin? Because in my opinion, BTC is affected by market volatility more than the Altcoin!
The reason being that bitcoin is the strongest currency in the market and whenever value is shed from the market a larger percentage of that comes from altcoins than it does bitcoin. The exact reasons for these are many but it's mostly down to the fact that bitcoin has proven itself and so has a larger support in the market. Speculative money normally comes when the market is bullish and that's when you'll see bitcoin market dominance falling instead of increasing.
September 13, 2018, 11:00:16 AM
Bitcoin is the king of all cryptocurrency so it mean if the price of altcoins and token will fall? Do you think bitcoin will happen too? If you can see now ethereum has already dropped a huge price all over 75% price lost if you calculate its price in the past price of ethereum but in bitcoin this is not happen.
September 13, 2018, 01:23:47 AM
It means that bitcoin has a more stable price,compared with all the other altcoins.
It also means that,when the altcoin prices drop,most of the altcoin traders would just sell their coins and buy bitcoin(this isn't really happening right now,but it happened many times before).
Most of the cryptocurrencies are just bubbles with nothing inside.
It also means that,when the altcoin prices drop,most of the altcoin traders would just sell their coins and buy bitcoin(this isn't really happening right now,but it happened many times before).
Most of the cryptocurrencies are just bubbles with nothing inside.
September 13, 2018, 12:53:25 AM
it means nothing because this "percentage" is market capitalization and it is not a viable characteristic to look at or use for comparison. in fact using it in that "percentage" is completely false.
market cap is multiplication of supply and price.
bitcoin has 17 million circulating supply.
this supply is going against 1944 number of coins with total supply of 18,992,064,409,496 coins (18,992,064 million). now do you see how stupid the comparison using that "percentage" is?
in simple terms bitcoin with only having 0.00009% of the total supply has nearly 50% of the market cap! this should give you a pretty good idea how bitcoin has nearly 100% dominance over the whole market.
market cap is multiplication of supply and price.
bitcoin has 17 million circulating supply.
this supply is going against 1944 number of coins with total supply of 18,992,064,409,496 coins (18,992,064 million). now do you see how stupid the comparison using that "percentage" is?
in simple terms bitcoin with only having 0.00009% of the total supply has nearly 50% of the market cap! this should give you a pretty good idea how bitcoin has nearly 100% dominance over the whole market.
September 13, 2018, 12:47:41 AM
I have been in the cryptocurrency market for almost two months, I observed that when the market fell, the percentage of BTC always increased. The current percentage of BTC has accounted for more than half of the market. What does this mean? Can anyone give me an explanation, and why is BTC? not another Coin? Because in my opinion, BTC is affected by market volatility more than the Altcoin!
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