Competition is good. If not then bitcoin will not be in this place.
They need something to where they will pour the profits they made from bitcoin.
Since bitcoin price now is so calm then it might be a good idea to diversify.
Actually it is much better than staying with one. It is not about being loyal or what.
Topic: Will Bitcoin's dominance stay above 50%? - page 2. (Read 393 times)
As we are seeing these days, earning bitcoin becomes more and more hard and getting money through poosting too became limited and with a lot of rules, so i think that the future of the dominance of bitcoin will resist but with a harder way.
Bitcoin had around 80% of the crypto coins marketcap earlier.But later due to changes in market conditions,it dropped to 40%.Now once again,due to its ATH price as a result of big financial firms like CME,CBOE entering bitcoin market,its mrket has once again started to rise to 50%.I think that it would continue to increase in futureand it may reach 60%.
Technically, the dominance in percentage doesn't really matter as dominance in price. In the first quarter of this year Bitcoin hovered between 87-93% in dominance of the CMC. In spite of that the price was below $2,000. Now, even with a much more decreased dominance the price is over $18,000. I think price dominance is what should concern every btc holder and not percentage.
in my opinion, why the change in bitcoin price does not really affect the price of other altcoin like before because many investors now focus on Bitcoin Cash. But that does not rule out the growth of bitcoin. This is why bitcoin is capable of developing itself without any other altcoin. But on the other hand altcoin is developing better than in the previous year which may be used in all economic sectors.
Nothing trust is built in altcoins for strengthening the economy.Instead they are mostly pumped and dumped coins due to which their marketcap some times increases.Earlier,bitcoin's market cap was almost 80% of the total marketcap.Later,it got reduced to 40%.Now,its getting back to 50% is a good sign.Some times,we could see a shift of investors from BTC to BCH when its price gets pumped and then return once again to BTC.Bitcoin's dominance decreases some times due to entry of new altcoins,but very soon such investments would return to bitcoin.Also,we could see bitcoin getting popular all over the world getting new investors and not altcoins.So,in future once again bitcoin dominance would retain to atleast 70%even if it could not reach the older stage of 80%.
Check the average transaction fee here, and you will get the answer:
https://bitcoinfees.earn.com
Whenever the fee increases, or whenever the number of unconfirmed trasnactions rise above a particular threshold, the market dominance of Bitcoin slides downward. And that is happening right now. During the past 2-3 days, BTC dominance has come down from 61% to 49%.
https://bitcoinfees.earn.com
Whenever the fee increases, or whenever the number of unconfirmed trasnactions rise above a particular threshold, the market dominance of Bitcoin slides downward. And that is happening right now. During the past 2-3 days, BTC dominance has come down from 61% to 49%.
Interesting correlation and charts about the fees, it's clearly cheaper and quicker to shift money around if it's converted into certain altcoins sometimes. Definitely something to consider when predicting the future movements.
Check the average transaction fee here, and you will get the answer:
https://bitcoinfees.earn.com
Whenever the fee increases, or whenever the number of unconfirmed trasnactions rise above a particular threshold, the market dominance of Bitcoin slides downward. And that is happening right now. During the past 2-3 days, BTC dominance has come down from 61% to 49%.
https://bitcoinfees.earn.com
Whenever the fee increases, or whenever the number of unconfirmed trasnactions rise above a particular threshold, the market dominance of Bitcoin slides downward. And that is happening right now. During the past 2-3 days, BTC dominance has come down from 61% to 49%.
Bitcoin dominance index shows what percentage of the whole cryptocurrency economy is dominated by Bitcoin, that is Bitcoin against 1368 altcoins, of these majority of the coins doesn't have any utility, immature market that is heavily manipulated/pumps and driven by speculation, does this index seem like a reliable metric that represents the growth of Bitcoin? Absolutely not, but it does indicate that the overall crypto market is growing rapidly. A few altcoins are getting genuine attention, but it doesn't mean Bitcoin's popularity or its demand based on current and future utility is declining. A lot of money is flowing into alts also and if we have a total of 3000 alts by the end of next year then obviously BDI would decrease further.
There are many types of cryptocurren. Although the price of bitcoin is highest, the cryptocurrenal market is shared by other currencies. there are many projects and dollars are pouring into other cryptocurren. I think bitcoin will gradually lose it's dominance and not be 50%.
With so many coins obtaining a >$1bn marketcap now (29 at time of writing) I see that BTC's dominance is at 50.0%, the other major coins have built up very quickly in the past few weeks and it looks like billions are pouring into different projects in the crypto world, to coins that provide specific solutions rather than being a 'one coin for all uses'.
If this continues I can see Bitcoin eventually equally sharing the market with other niche coins, many have predicted in the past the death of altcoins but they help strengthen the economy and trust in them is now building very fast. I think the time they stop reacting to BTC price movements so drastically is nearly here.
What do you think about the future of BTCs dominance and position as 'main player'?
If this continues I can see Bitcoin eventually equally sharing the market with other niche coins, many have predicted in the past the death of altcoins but they help strengthen the economy and trust in them is now building very fast. I think the time they stop reacting to BTC price movements so drastically is nearly here.
What do you think about the future of BTCs dominance and position as 'main player'?
Bitcoin shall and always be number one, every coin looks forward to Bitcoin only. The alts are growing, but they shall never be able to take down the crypto king. I feel it's healthy that the alts are growing, but they lack the potential of Bitcoin and every time they rise, they move it and put it back in Bitcoins. So for me Bitcoins shall always stay on the top, few fluctuations are expected.
The gap was so far in the previous years, but we see other coins closing in since Bitcoin is so heavy to move now, it requires huge amounts to move prices up or down.
Bitcoin will still be the major or role player in the cryptocurrency world why? Because it stand as the most popular or known coin out there if you ask the people because it is like the major shareholder if you put in a company perspective.
Bitcoin is a pioneer, but I think it can only account for 30%
With so many coins obtaining a >$1bn marketcap now (29 at time of writing) I see that BTC's dominance is at 50.0%, the other major coins have built up very quickly in the past few weeks and it looks like billions are pouring into different projects in the crypto world, to coins that provide specific solutions rather than being a 'one coin for all uses'.
If this continues I can see Bitcoin eventually equally sharing the market with other niche coins, many have predicted in the past the death of altcoins but they help strengthen the economy and trust in them is now building very fast. I think the time they stop reacting to BTC price movements so drastically is nearly here.
What do you think about the future of BTCs dominance and position as 'main player'?
If this continues I can see Bitcoin eventually equally sharing the market with other niche coins, many have predicted in the past the death of altcoins but they help strengthen the economy and trust in them is now building very fast. I think the time they stop reacting to BTC price movements so drastically is nearly here.
What do you think about the future of BTCs dominance and position as 'main player'?
It's hard to stay above 50%. I think it will slowly lose ground to Alts. Bitcoin is great overall, it's the Adam of the crypto world, but, the altcoins are having better functions and lower fees.
The current dominance of bitcoin is 49.4%. Even if the percentage looks small, but in dollar value it is huge. So the market is very dynamic and changes from one range to another within fraction. However, with the rising transaction fees and slower bitcoin network, I doubt bitcoin will be able to keep up with the 50% market dominance. I believe it will start loosing ground slowly to the technologically superior altcoins like ETH or Ripple for faster transaction processing speed. Bitcoin will remains as an investment asset only.
No other coin will take the Bitcoin place, at least not in the near future, and Bitcoin will remain in the number one position. But since so many altcoins appear all the time and the altcoin market is rapidly growing the procentage of market share might change but not for long term, these values will vary. Some altcoins realy don't "live" long on the market so overal nothing can't significantly disturb Bitcoin position.
With so many coins obtaining a >$1bn marketcap now (29 at time of writing) I see that BTC's dominance is at 50.0%, the other major coins have built up very quickly in the past few weeks and it looks like billions are pouring into different projects in the crypto world, to coins that provide specific solutions rather than being a 'one coin for all uses'.
If this continues I can see Bitcoin eventually equally sharing the market with other niche coins, many have predicted in the past the death of altcoins but they help strengthen the economy and trust in them is now building very fast. I think the time they stop reacting to BTC price movements so drastically is nearly here.
What do you think about the future of BTCs dominance and position as 'main player'?
If this continues I can see Bitcoin eventually equally sharing the market with other niche coins, many have predicted in the past the death of altcoins but they help strengthen the economy and trust in them is now building very fast. I think the time they stop reacting to BTC price movements so drastically is nearly here.
What do you think about the future of BTCs dominance and position as 'main player'?
I think that BTC dominance will be decreased till 30% in the future. BTC price is high and stable so a lot of investors have big interest in altcoins
in the past few weeks and it looks like billions are pouring into different projects in the crypto world,
you are talking about market capitalization and then using it instead of volume.what you see as "billions" is the market cap of those projects. the volume going into each of them is way lower than this number. in fact most of them don't even reach a considerable amount. they stay at a couple of thousands. and when they go up they only go up temporarily (2-3 days in most cases) before being abandoned again.
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If this continues I can see Bitcoin eventually equally sharing the market with other niche coins,
you are confused about market capitalization and sharing the market. and it is a very unfair comparison. because first market cap is a useless factor for comparing since it is easily misleading. you are practically comparing bitcoin which only has 16.7 million coins in circulation with at least 1500 different coins each have from 100 million to 100 billion tokens which is bloating their market cap and the worst part is that most of their supply is not even in circulation.
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many have predicted in the past the death of altcoins but they help strengthen the economy and trust in them is now building very fast.
definition of being a "strong cryptocurrency" is not having some short term pump and dump and increase in volume for a couple of days and then not a peep out of them.it means a high volume for long term and sustaining it. it also means being adopted by merchants and be used as a "currency" otherwise why are we even talking about them when they never leave exchanges and speculation!
When I want to receive an answer on an issue of interest to me, I always go to the bitcointalk and read about it. The opinions, knowledge and experience of thousands of people help to make the right decisions.
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