Bitcoin Forum

When bitcoin price down, Automatically BTC dominance rise and Altcoin dominance lower
When BTC price going up, BTC dominance going down,
I think this happens due to the whole market capacity
What is your opinion guys

my opinion is the opposite of your opinion, now you can check https://coinmarketcap.com/currencies/bitcoin/, currently btc rise and btc dominance increases

I think Bitcoin dominance would continue as long as it is the main cryptocurrency. So far no other coin has done anything dramatic so as to compete with bitcoin. Ethereum is a very promising coin, but its performance has been very disappointing over the past few months.

The dominance level is just an useless analysis so don't care too much about that.The main thing is that the price is increasing which is a good thimg for bitcoin and all the crypto currencies.

That is what the trust we have on the bitcoin mate. If the crypto currencies goes cheap automatically panic selling will be happen in most of the exchanges in that meanwhile you can see some investors take that fund of safety concern and by looking of future profit.
Then the value of altcoins get damage more than bitcoin that is also the another concern of the people whoever invested on altcoins. Finally all these things makes investors to run towards bitcoin.

you observed correctly and in my opinion this happens because people notice that the price of bitcoin is low and then they sell their altcoins to buy more bitcoin and when the price of bitcoin goes up, they sell their bitcoin and go back to buy altcoins, that is a cycle that will not change so soon. Once I read someone's comment saying the following: altcoins only serve to make trade so that we increase more bitcoins.

I do not agree with your opinion. ETH is still affected by the price of Bitcoin. Although ETH has a much better background than bitcoin. But maybe people are still supporting bitcoin more than ETH

Yes, You are right and observing the market correctly. At bearish market the BTC dominance is increasing and during bullish market
it is decreasing . ( like we had situation last Year from 0ver 60% to below 40 % in December )
This Year in May before crash BTC dominance was 35 % at total market value of $450 billion. After the crash it went around 42%
The reason for this is panic selling of Altcoins during the crash and buying BTC as it is more secure investment in tough times.
Logic behind selling of Altcoins  is fear that they can go near to zero and many speculative investors selling them as Altcoins  losing
even more in value than BTC. When the market is increasing the opposite is happening : investors selling BTC and buying Alts.
in hope that they will rise in higher percentage than BTC and gain higher profit.

During this bearish market ETH lost in market dominance against BTC in price and in volume as well. Remembering in January this Year
 when ETH was $1300 and BTC $11.500 That time the price of ETH was 11 % of BTC , nowadays it is 7.1%
Bear in mind that in the meantime there was bear market   when BTC always strengthening it`s dominance vs. alts.
And also there were discussions if ETH is a security or not, and that is cleared up now. Many other development updates for ETH insures
that in the future ETH will fight back for it`s earlier dominance and above. But, that to happen  we have to wait to enter in bullish market.

You can see the dominance of bitcoin on the crypto market, where the market is currently based on the price of bitcoin, only a small adjustment of the bitcoin price can cause the price of the altcoin and the market variable. very strong. Therefore, when trading at this time you must always observe and monitor bitcoin price to be able to handle when the bitcoin price drops sharply.

I look now when BTC going up or down the price of popular altcoins also follow it. The price of all crypto is just the same direction at the same times. So will hard for trader to make profit when market on bearish. I dont know why price action of altcoin should follow BTC price. This is different with last year, when altcoin going up BTC usually just on consolidate.

Your theory works, but only with the exact opposite. If the rate of bitcoin increases, its dominance will increase, and if the rate decreases, the dominance decreases.

let me ELI5 math for you maybe you understand what you are talking about is NOT "dominance" but a fool's number to fool the fools :D

1 coin * price * 17 mil supply = bitcoin market cap (1)
1607 coins * prices * sum of 1607 supply = the rest of the market cap (2)

when bitcoin price goes down (1) goes down but the 1607 shitcoins go down also so the (2) goes down multiplied by 1607 so the total market cap of the rest goes down more.
MATH: (1) / (2) where (2) goes down faster has a bigger result.

now when there is a pumping season like last year when 1607 altcoins are getting pumped (2) is rising super fast.
MATH: (1) / (2) where (1) is rising but (2) is rising 1607 times faster will have a smaller result which you are calling "bitcoin dominance"!!!

This is the rules of the market you dear! Bitcoin is an unidentified form of electronic currency. You should follow up on major bitcoin websites.

It is just a vis-a-vis upturn market. People tend to buy more bitcoin when it is low, so you see more altcoin leaving the market for bitcoin and it gets strong to rise and its dominance being shared in the long run.

It seems like the cryptocurrency is depending one on another,  because most of the people are thinking about cryptocurrencies as about something United and not as about 1600 cryptocurrencies divided.

Yep, it means when Bitcoin goes down, the alts follow and tge weakest ones die out making BTC dominance even higher (competition reduced). It is the same way vice versa- when BTC moons the alts follow along and hence even the weakest ones get the momentum to skyrocket thereby increasing the overall competition. I think this is the reason why many people ask whether Bitcoin can be overtaken. Well, in my opinion I don't think so. So far as BTC dominates with such a percentage, it shall be veey difficult.

Your opinion is just the same as before. Now it is not. You go to coinmarketcap to find out. There is a lot of coin when the bitcoin price increases, it can decrease or the bitcoin price decreases it can still increase. What you say is not true

My point of view investors are major role in Bitcoin and altcoin dominance for example i am a consumer i want to invest in both Bitcoin and altcoin so I invest both the platform and current situation is unpredictable so I want sell my both Bitcoin and altcoin. Know you can understand how Bitcoin is dump automatically altcoins are dump in the market.

Your assumptions maybe right but the questions remains, is bitcoin dominance as good metric to see the overall sentiments of the market? I would say no because we all know that altcoins are manipulated. So it doesn't mean that when altcoins are dominating the market, it doesn't mean that investors are really pouring their cash on it. These altcoins aren't taking the "dominance" from bitcoin because heavily pumped. Maybe we can come up with a good gauge to measure's this so called bitcoin's dominance, but if you are just looking at coinmarketcap and see bitcoin's %, then we should come up with a good measurement I supposed.

People support Bitcoin because they don't know how to properly price an altcoin. They also don't care about their technological engineering.

Bitcoin is as simple as it can be, but this simplistic piece of technology has the least obstacles to struggle with, and the least to worry about when it comes to its future potential. If altoins weren't tied to Bitcoin, they wouldn't even be worth a tenth of what they are worth right now. People seem to think that altcoins are worth what they are worth, but that's wrong; altcoins are worth what they are worth because Bitcoin donated that value to them.

An altcoin can just keep its ratio at 0.01BTC for ever, but will still increase in value due to Bitcoin increasing in value. Litecoin is the perfect example of that. It was worth like 0.02BTC back in 2013 which was like $2 back in the days. Right now Litecoin is worth like 0.0125BTC which translates into $85 today.

I’m  a little bit confused in this. What do you mean by the dominance,  ate you referring to how bitcoin can control the market  and altcoins included or do you mean the market cap of bitcoin? First of all if you’re referring to market cap, then you’re wrong and if you’re also referring to at the rate at which it controls the market then you’re also wrong.

When bitcoin goes down, its market cap also goes down and when it goes up the market cap follows it up. Same thing to how it controls the market.

Bitcoins are always hot money from the present day with the value of more than $ 6,000, with the price fluctuations that have made the digital age may become hot and attractive.

There are a lot of new coins on the market and BTC dominance is becoming lower. But still, when bitcoin price goes up, BTC dominance increases.