Bitcoin Forum

Ever since the market started going down in mid-January, the bitcoin dominance has been growing. Do you think this is good for the crypto market & what do you think will happen to other coins in the future based on this?

https://useacoin.com/news/bitcoin-dominance-continues-to-grow-despite-entire-market-falling/

bitcoin dominance is still the same as it ever was because dominance is not just market capitalization. dominance is all the things that coinmarketcap.com simply ignores so people following it also ignore. the dominance is the real adoption that bitcoin has, the merchants, the businesses, services,... that are accepting bitcoin as a currency. the number of transactions that are happening every day on bitcoin not just for a short time. even the trading volume of every day and a lot more.

of course when for "dominance" you ONLY consider market capitalization, bitcoin's goes down because there are countless coins and tokens out there each of which creating a huge bubble by simply releasing tokens. and each pump and an altcoin with a large supply has, increases its market cap by a lot making bitcoins so called dominance go down.

so now that this so called dominance is growing, nothing is changing about anything. bitcoin is still as strong as before, and altcoins are still the same pump and dumps as before. the only difference is that altcoins are getting dumped hard these days and each dump decreases their market cap hence the total MC by a lot. that is all that means!