Bitcoin Forum

Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.

Do you think that altcoin hype is finally fading?

BTC rise up to $20K again and everybody sell alts for btc to get profits ... or maybe up to $50K?

Marketcap is increasing and its only means that Investors are putting their money to bitcoin's market because they know bitcoin is going to skyrockets few hours from now,because bitcoin's general direction is upwards which means we are going to have a bullish market in the next few days so i suggest you should stick with bitcoin too so you wont get trapped with these altcoins.

Bitcoin is the benchmark of all cryptocurrencies but major altcoins and tokensare correlated with the ETH where major tokens and new altcoins are dependent on ERC20 platform from ETH, i am considering that ETH will still the mother of altcoins but BTC is the king of cryptos.

No, I don't think so. Market has not recovered yet from the recent crysis. In nearest future we'll x2-3 prices on the alt-coins as well, I'm 100% sure in that.

It's hard to judge as BTC is tied to all alt coins. I think you need to weigh each alt coin to be worth a $ figure instead of sathoshi value. The deeper BTC dives, most alt coins hold their $ value relative to BTC satoshi value. When BTC increases youll see sathoshi value fade away. It's a game to increase your BTC holding in alt coins. Hopefully ETH will become king.

It´s bitcoin season now , when BTC stabilize there will be an altcoin season

This simply is a BTC rally without the others. There were 2 or 3 mini-rallies last month. This time, its the market mover - Bitcoin.

Bitcoin was always going to take back some of the market share but it doesn't mean the altcoin run is completely over or gone, I think it is on a temporary pause right now. I do expect alts to party again, and Bitcoin at some point will take over 50% market share but which happens first I don't know this.

you might be correct that altcoin hype is already fading. investors are not that interested in ICO compared to last year. Good thing that government imposed regulation to stop the increasing activity of scam shitty coins.

Bitcoin will dominate this year and many altcoin will pop up like a bubble and most of them the shitty one.

I don't think so. Maybe people are shifting funds around, going to bitcoin because its started a rally. Well, at least that's how I read the market and bitcoin's dominance.

And I don't think that the altcoin hype is finally fading or dying most specially the top 5 - 10 altcoins. Yeah, they have their days under the sun, but I'm sure that in the next coming months most of them will increase as well even getting into all-time-high. What I don't like though is that those altcoin fan boys shouting that bitcoin dominance will be over. It will not happen. Sorry to burst the bubble to you guys.

this is a normal picture. This does not mean that altcoyins do not grow. If you take and watch the price of altcoyin in dollars, then they also have growth. Just the growth of altcoyins does not keep up with the bump, because more money is pouring into bitcoin. Now generally there is a general pumping of the market. And do not forget that to buy many altkoins in the beginning you need to buy bitcoin. And this is pushing the course even higher. On what the hamsters react and again fly into the cue ball.

Actually bitcoin is the main types of all crypto-currencies, other crypto-currencies are based on bitcoin prce movement, if we noticed, bitcoin price goes down rapidly, all kinds of crypto also following down rapidly and bitcoin remain their price at the top. So altcoins also follow bitcoin price movement, and it would not be happen that altcoin having price that above bitcoin.

You have to be careful to not take small movements in the market and then make huge assumptions.
That is not an informed trading practice.
Rather, you analyze data, compare it to trends in the past, find patterns, then predict a percentage range increase.
It might sound complicated, but hey, I'm just an English teacher.  Before crypto I HATED and sucked at math.
But I learned how to do it through hardcore research and practice and I can tell you this: numbers give way better profits rather than speculation.

For the current state of the market, what you have, is a combination of some new money entering the crypto world.
It is almost always through btc first, sometimes through eth.
also, the semi new ones from the past two months are starting to think that their shitcoin that was hyped by mcaffee or whoever isn't going anywhere so they are migrating back to a stable investment.
As the market goes up, people will start to gain more confidence and the wild speculative investments will begin again and, voila! Our next bull run.

I think what's happening now in the crypto marketplace is something related to Pump and Dump Schemes involving people who buy crypto coins all at the same time to increase the price and sell it when the value increases for huge profits. The scheme involves finding cheap coins to purchase and then artificially boosting their prices through misleading statements via news outlets and social media like Twitter and Telegram before cashing out. Please read, WALKTHROUGH: How traders 'pump and dump' cryptocurrencies (http://uk.businessinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11/#telegram-is-the-app-of-choice-for-cryptocurrency-traders-here-is-a-message-sent-to-advertise-the-pumpking-community-telegram-channel-1) and How Bitcoin Pumps and Dumps Work (https://steemit.com/bitcoin/@tonylondon/how-bitcoin-pumps-and-dumps-work).

I think this is not because this is due to the mentality of the traders are now set to Bitcoin in which they think that investing in Bitcoin is much faster to gain than investing or holding their altcoin in which also a strategy to ensure earning but i believed this is just temporarily because we just came from trauma of corrections in which most of us wants to ensure recovery of the losses.

Bitcoin is in a correction period, and altcoin is also on its correction period too after the huge crash that happened last month, altcoins are still in a good race to make a good profit, bit honestly Bitcoin is still a supreme in the cryptocurrency markets.

To me this just means there's no real new money entering the market and it's just alts trading back for bitcoin.

In my own interpretation, since bitcoin is now on recovery mode which is currently happening this time and continuously increasing, more people may have shifted to do investment more on btc rather than altcoins. With this, people are seeing much greater opportunity with btc to earn more than with altcoins. Based on the coinmarket cap price history, majority of the alts were on downward trend probably because of the shift in investment going to btc.

Its nothing new,it happens all the time btc increase altcoin drop,after btc hype will be over altcoin will touch a new height,majority of altcoin should fall as they are shitcoin without any use just are for payment option which is not required.

It is starting to fade, as shown in the increase of BTC dominance, but I'd say there's still a long way to go before the hype is completely over (btw, by hype I mean dumb money being thrown at X or Y altcoin).

You said "cannibalizing altcoins", but I wouldn't go that far, though it's going to happen in the long-term. What we're seeing right now is something that many people knew it was going to happen after the irrational hype wave around altcoins that we saw in the market back in the December, capital from alts is flowing back into the bitcoin ecosystem, as well as new money from investors that are getting ready for the next bull run.

We're still far from what I think the 'standard' btc dominance should be (+55%), but if the trend continues we might see that number very soon.

I think altcoin hype will still exist and continue to accompany bitcoin that do not know how long.
Bitcoin will keep rising as high as $ 30,000 easily in just a few moments. It's because of the loss of the issue, the fear among the public that many whales have come back to invest their money in bitcoin.
Yes, indeed some altcoins like shitcoin come and just disappear, but not all of them.

Normal fluctuation in market always common still bitcoin and other currencies are fluctuating . But my bet for this year will be eth, neo will be the undisputed kings.

Yes when bitcoin increase altcoin will decrease some value.  Its not strange that more people are into bitcoin and sell their altcoin that makes marketcap of altcoin down. I do believe bitcon is able to touch 15k$ in few month and after that it will be altcoin turn to increasing. Ethereum and neo indeed will be the best coin in this years especially neo that has been grow so high last month.

yes, I've seen that. bitcoin is increasing in recent days and other alts are starting to throw away but I think in the near future surely altcoin will also catch up and experience increase.

I think it's natural that the other alcoin is down, many factors can affect alcoin down, I'm sure one day surely another alcoin can bounce like bitcoin now

I like the term "cannibalizing". I dont think altcoins will completely fade away but I remember the days when the bitcoin's dominance was almost 90%.

Bitcoin is the benchmark for all cryptocurrencies, because bitcoin is the king.

The market is growing steadily, and most altcoins will continue to grow.

If the bitcoin could keep such gains, so a bull market is coming soon, because the bull market is generally begins with the rise in the bitcoin, and then the next altcoin will have a good gains.

Definitely not, bitcoin has a lot of problems and bitcoin by itself isn't enough to keep this whole market alive. They're all going to go back to near exponential this year, don't get ahead of yourself thinking that the altcoin run is over- not even close.

Altcoins can go up again and bitcoin can go down, there is no surety bitcoin will be back to $20k in a month or two. If bitcoin start increasing, altcoins start decreasing that's how it works.

No its not fading,  the transparicy of altcoins is raise after bitcoin raised. Meaning if bitcoin pump the effects is dump from the altcoins,  because some investors are pulling out their fund in altcoins just to switch in bitcoin to earn profits until it will drop again.  Then if bitcoin drop, some altcoins are going to raise because of switching.

I don't agree with your title of thread. Bitcoin is not cannibalizing altcoin, its depend on investors who hold the altcoin. When bitvoin price increase people will buy bitcoin to follow the pump and sell it again to fiat or back to altcoin.

The world of crypto currency is really tricky stuff. I mean there was time few weeks ago when everyone was saying that the is the year of altcoins or this is the year of ethereum but now look at this one, the whole whole world is now saying that bitcoin is taking over the others and it will be the dominating currency. That really confusing isn't it. I mean why there is always comparison between these two I never understand. Bitcoin was anyway the original one and there is nothing new about it when it takes over the other market or whenever there is increased dominance for the same. I am sure we are looking at completely normal scenario which was the case before the year end of 2017. Whenever BTC went up the alts used to go down because alts were traded for the BTC and thus putting all its market into BTC.

Check the market today and you'll see that even bitcoin is on red.
Its the first crypto and original so there's no question on how big the market cap is and besides most of the crypto people are supporting bitcoin.
Not yet but maybe soon when LN is good to go.

That's correct, they actually grow together and that is good with bitcoin.
Bitcoin is still dominant but if you look at the overall marketcap, they are growing and that is already a good sign that they will grow
more in the future.

Until there is a fresh sustained flow of money coming into cryptocurrency then we are likely to see this ebb and flow between Bitcoin and the alts on a regular basis. The overall market cap of crypto isn't changing much in the past few weeks and until that changes expect more of the same.

You will still find some coins fairing better than others during these cycles and I think some ICO coins will be unaffected during their sale period

Half day ago BTC was increasing while other alts went down. I thought that everyone sold their alts to buy BTC. But now we can see that all the coins are going down ...
And as for me I don't see any reason for that... Is there any bad news? Or just regular correction ...

Bitcoin keeps increasing, All alts right now are in higher low position this is the time to buy alts before it go up!. I feel it that there will be a bull run for the incoming weeks to come. so better hold some coins if you have it!

Thanks for your constructive optimism! Very hope that it will be so..!
Because the market is already fed up with these bearish waves..
Although I won't buy any alts at this moment...Just hold. It's important to be calm and measured.

I think the current status is not bitcoin in eating into other altcoin, there is because the cryptocurrency market is bear market，because bitcoin also does not have a sharp rise, and almost every other tokens is in decline.

I have been observing the dynamics of the industry and I can safely say that Bitcoin and altcoins are kind of dependent with each other. When Bitcoin experiences a bullish trend that is where the altcoins are down and vice versa hence bitcoin is not really eating up those altcoins. Whenever bitcoin takes 2 steps backward, it always takes 7 steps forward after. And for most investors, they just use altcoins to grow their bitcoins so there is really no competition here. It will take a lot of time before altcoins can come to any level of where bitcoin is right now.

They say Bitcoin is gonna hit 50K this summer. So yeah, it's a pity but btc dominance is huge, crypto market sometimes look like a monopoly of bitcoin

Even there are a lot of altcoins in this market, they are all lagging to provide enough competition against bitcoin. Because most of coins are having only one purpose whereas bitcoin will be having multiple purposes which will be affecting most altcoins not to get reasonable market capitalization.

As long as we are not seeing any highly competitive coin against bitcoin then we can say bitcoin will continue its domination in terms of market capitalization

It is normal that altcoin will get dump everytime bitcoin price is increasing because traders sell altcoin to make a profit. Even if the value of altcoin get dumped on Bitcoin pair, the value of altcoins in dollars are still almost the same.

Bitcoin is what started the coins that people are trading. It is how it is, there is no need to change anything.

the bitcoin price increase is very slow as it is still at the beginning of the year and there is no info or good news from bitcoin in big country, when big country like china japan and others have given it definitely price will easy to ride.

Please, look at the chart of last year. Altcoin was in the same situation like what's happening right now. How it will increase after bitcoin will have recovered soon.
This is just another regular correction, we know that korea is not banning crypto but it just allows the crypto trade with tax implementation. You should erase your worry.

Bitcoin does have tremendous power, not just as the first cryptocurrencies that exist, but bitcoin also has a very good popularity in the market. So reasonable when bitcoin has a very high level of trust. Altcoin prices do decrease, but that does not mean it will cause altcoin to disappear slowly, if we want to increase altcoin then we should be accustomed to using altcoin. We all know that it is still very rare to use altcoin as a financial payment medium, that's what makes a difference with bitcoin. Market share and transactions made with altcoin are still very small.

There's definitely a chance Bitcoin makes most coins obsolete. 90% of the coins were useless anyway, but if Bitcoin can keep the transaction fee low and speed up the transaction time then for 99% altcoins it's game over. Only niche coins with unique features stand a chance to survive, like privacy coins and GPU mineable coins for when Bitcoin is stable.

Yes for the last 4 days bitcoin continued to rise while altcoins suffered . But i seems like market manipulation to me and i expect it to be back to normal in a few weeks.

I agree, the price of Bitcoin has been increasing too fast. It can only be partially explained as a relief rally after the better than expected SEC hearing and the end of the Chinese New Year dip.

The course of this trend would lead not the altcoins decline but into a challenge. Knowing the fact that BTC already comeback and stability of its trend is already on the mark. We could probably take the challenge of alts this days. BTC crisis is done and for alts it is now starting. Though it's the case we must still think for the positive outcome in our investment.

This time around the comeback of BTC could dominate alts in the market. Turning point on this could slowly pressure the large investor for alts. Pressing the issue of decline may not happen but leading to price downfall is a grave crisis for alts.

Bitcoin is a leading indicator, the altcoins will follow in due course.

Of course, no, Bitcoin is not going to swallow and kill all the altcoins. Many alts are strong enough to have more followers and supporters than even BTC has. I also believe that NEO, Qtum and Cardano will become leaders.

In my own personal understanding, Bitcoin and Altcoins aren't working or related that way.
Altcoins goes down because Bitcoin value dropped but when it pump back up then the Altcoins will follow. And you should notice that the Altcoin pairings in coin exchange aren't mostly into USD ratio but BTC or Eth.
Therefore when Bitcoin dropped, Altcoin BTC value is although the same but in USD calculation is should be dropping as well.
Bitcoin and Altcoins works that way.