Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
Topic: Will altcoins thrive in the shadow of Bitcoin ? (Read 180 times)
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
I think it is very difficult to get the place of bitcoin because the price of altcoins goes as occurs with bitcoin so whenever the bitcoin reduces altcoins will also minimize price and vice versa.
As compared to altcoins, Bitcoin has no rivals. It is possible that whenever bitcoin makes a dump, altcoins will pursue, and when it makes a pump, altcoins will mostly follow because they operate closely together. The price of Bitcoin has a positive impact on the demand from all sides, making it a very important factor. Without Bitcoin in the market, altcoins are worthless. For instance, altcoins would not exist if bitcoin had not been created in the space. With a consistent high trading volume, Bitcoin dominated the market overall. We are all aware of the significance of Bitcoin in this area and the increased likelihood of market volatility.I think it is very difficult to get the place of bitcoin because the price of altcoins goes as occurs with bitcoin so whenever the bitcoin reduces altcoins will also minimize price and vice versa.
As compared to altcoins, Bitcoin has no rivals. It is possible that whenever bitcoin makes a dump, altcoins will pursue, and when it makes a pump, altcoins will mostly follow because they operate closely together. The price of Bitcoin has a positive impact on the demand from all sides, making it a very important factor. Without Bitcoin in the market, altcoins are worthless. For instance, altcoins would not exist if bitcoin had not been created in the space. With a consistent high trading volume, Bitcoin dominated the market overall. We are all aware of the significance of Bitcoin in this area and the increased likelihood of market volatility. 
I think it is very difficult to get the place of bitcoin because the price of altcoins goes as occurs with bitcoin so whenever the bitcoin reduces altcoins will also minimize price and vice versa. Altcoins have many risk factors and believing it that it will give you higher cashback without knowing its reality does not suited well. Bitcoin increase the value of your money and it will not matter that how many years you kept it, your money will be saved and goes on increasing condition but a must is that selling should take place in appropriate timing. The replacement of bitcoin with some other coins in my opinion is not possible as it is the ever successful token in crypto market.
In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
Bitcoin leads and generates attention, unique, trend-driven, structural momentum. And thanks to that, altcoins have more favorable conditions for expansion and adoption. There are top performing altcoins that surpass bitcoin in many respects but I don't think it can overtake bitcoin. When ETH was born, predictions about it surpassed bitcoin but what happened after proved bitcoin's No. 1 position. I think bitcoin and altcoins are mutually supportive and together form a sustainable development for the crypto ecosystem. If there are no unexpected events, I think not.
It won't. It is because altcoins are generally subservient to Bitcoin. They probably cannot get past the one that made all of them possible. Altcoins owe their entire existence to Bitcoin. They simply can't get the same level of trust and confidence that Bitcoin enjoys. They can't be as independent and decentralized as Bitcoin also. But they will probably thrive in Bitcoin's shadows. Ethereum for example is solid enough to stick to its second place for a long time.
In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
For me, Bitcoin will be always the huge mover and once Bitcoin will become sideways or Bitcoin will keep calm, altcoins will start to do their move I believe these kinds of price actions for Bitcoin and other altcoins are already here since before.But I will never forgot to hold and add more Bitcoin to my bags, it should be my highest allocation.
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
Doesn't the top altcoin always challenge the place of Bitcoin? It is that Bitcoin is far too dominating that these top altcoins look like no match to the King of cryptocurrency. As far as the competition of the cryptocurrency, ETH and other altcoin are always trying to surpass Bitcoin's dominance but they always fell short.
I think altcoin old projects or new projects will always try to compete against Bitcoin. I also think that one day, an altcoin will replace Bitcoin in terms of market dominance. Remember there is no permanent in this world but change.
there's always chance but you see right now even bitcoin is recovering, the market capitalization of these altcoin in general still far off from bitcoin even bitcoin dominance speaks volume.
I'd say altcoins will always behind bitcoin but I guess in the future things might change, after all if project that needs utilization from smart contract thrive, surely they will also increase the valuation for these smart contract based coins in general.
I'd say altcoins will always behind bitcoin but I guess in the future things might change, after all if project that needs utilization from smart contract thrive, surely they will also increase the valuation for these smart contract based coins in general.
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
Plain and simple, no. If bitcoin goes up to 100k you can bet altcoin prices will surge and likewise if bitcoin tanked to $1k you can expect alts to fall off the cliff. Short of the answer is bitcoin does and always drive long term price movements.
Am not investing in any new projects till bull run start and we start seeing new projects in market, must of the project’s lunched now won’t survive the market. Am investing in some fee coins ahead of the next bull run which are, Bitcoin, BNB, eth, kcs and sol. I believe this projects will definitely do well in the next bull run because am expecting BNB to hit $3k and others will also do well.
ETH flippening were widely resonated, now, some project claim to be the Ethereum killers. The current and past market position also tells that Bitcoin price movements correlate with the cryptocurrency market.
The past shows us that most altcoins come and go, and the only legitimate project is roughly only 1 per cent compared to altcoins or token that currently exists. This spaces are full of empty promises, and the barrier to entry to make a project is low thus it filled the market with a worthless projects. Personally, Those two coins you mentioned are battling each other, it is hardly affecting Bitcoin on a significant scale.
The past shows us that most altcoins come and go, and the only legitimate project is roughly only 1 per cent compared to altcoins or token that currently exists. This spaces are full of empty promises, and the barrier to entry to make a project is low thus it filled the market with a worthless projects. Personally, Those two coins you mentioned are battling each other, it is hardly affecting Bitcoin on a significant scale.
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
As long as greed is still in human nature Altcoins will continue to thrive and we can see now that Bitcoin's dominance in the space is declining, there is a reason for this, it is because Altcoins are eating into the BTC market share. If you look at the relationship between BTC and Altcoin as see-saw effect, which is an inverse relationship between Bitcoin and Altcoins, when BTC price goes up, Altcoin stays the same in USDT or dumps in BTC value and later Altcoin catch up and pumps both in USD and BTC value leaving Bitcoin behind
Despite how SEC will classify the altcoins, I don't think they can decouple the altcoins such as ETH and BNB to BTC. A lot of altcoins will still react the same way as they are all denominated by BTC on exchanges. They will thrive in the market and are more than likely to surpass the ATH also during the bull run.
But they will not replace BTC on top. We're aware that institutions are even just interested in BTC and nothing else.
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
Let’s look at it this way. How do you overtake something? You certainly need to solve the problems it has. These Alticoins have failed to solve any problem they think bitcoin hasn’t solved. We see coins like Eth moving to POS and it didn’t solve any problem. At this time I don’t think this Altcoins can overtake bitcoin, they will follow in his shadow and even the market trend it is such
Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up.
I don't know where you took your data from but I know for sure that those two altcoins you mentioned correspond with Bitcoin price movements. They bleed whenever Bitcoin bleeds and rise when Bitcoin soars.Quote
Over the history, Bitcoin has been and still is the most reliable cryptocurrency...
That's true, at least at the moment Bitcoin remains the most reliable.Quote
the others don't seem to overtake Bitcoin's dominance in the foreseeable future.
If you say none to top Bitcoin's dominance of the total market share at the moment, you're right. However, we may see a turn of such dominance in the "foreseeable" future you mentioned. Things are changing and Bitcoin's dominance is gradually dropping. Before it used to have over 70% dominance. Today, it's around 40%. Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.
If you compare the number of coins percentage belong to owners, you will understand this. Most of the altcoins are belongs to the project owners. They have more than 50% ownership of those coins. but when it comes to bitcoins, there is nothing like that. So bitcoins are more decentralized than altcoins.
Nah, if you check the graph of ETH and BNB in overall, you will see the graph is similar with Bitcoin. Majority of altcoins especially top altcoins will follow Bitcoin price, but they're just slower, in the end they will follow Bitcoin's trend. Altcoins will not able to overtake Bitcoin's dominance, because during the Bitcoin's crash at 2017-2018, ETH still not able to beat Bitcoin despite ETH isn't affected with Bitcoin.
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