Bitcoin Forum

There is an important field in coinmarketcap "bitcoin dominance" most people dont really look at it. Last year when bitcoin was rising to its peak,,its dominance was over 50%. The implication? Bitcoin was gaining value against most altcoins except some few.

During that period lots of altcoins value went down to almost zero, even some top 20 altcoin lost ground. Some are languishing in the lower half of coinmarketcap.

But as time went on in early 2018 the tide changed a bit, Bitcoin dominance went to as low as 34%. Bitcoin dominance have started growing again.

From all indication, it could hit above 50%, even 60%. This time around a lot more altcoins will loose most of their values to near zero, once Bitcoin ETF is approved bringing an explosive influx of institutional investors who will focus more on Bitcoin and avoid a larger part of altcoin except a few.

Though for now, bitcoin ETF is delayed until a later date.

What's your opinion about this development?

bitcoin dominance is a made up illusion, and selffullfilling prophecy,

coinmarketcap simply lists only an environment that they like to have. they dont even list all cryptocurrencies.

there i heard that here is a trend towards creation of POS indexes that simply dont even list bitcoin,

that define a pos token market as an alternative to a compounded pos and pow token market,

with this in mind bitcoin might completely lose its most precious asset, troll style attention. :D

WHAT? almost all the newbies are looking at what coinmarketcap calls "bitcoin dominance" and it is completely meaningless because it does NOT represent bitcoin's dominance. it is only representing bitcoin's market cap (a false characteristic imported from stocks market) with the total market cap of 1500-1600 altcoins.

no bitcoin dominance will remain near 100% as it has always been there and will be for the foreseeable future. but the bitcoin market  cap divided by the total market cap will continue to go down as new shitcoins with huge supplies are released.

Yes i could understand what you are trying to say, but i think this step is really nice and must because the dominance of bitcoin will also bring growth and stability in Cyptocurrency market and by this way only altcoins and other cryptocurrencies which are really having zero value in their projects will be exiting from the markets and not the high reputed ones and because of this I really believe that by this dominance the number of scams will be decrease to zero soon.

Not really. The fact that most cryptocurrencies are trash or scams is what is threatening their existence. Most altcoins don't deserve to have a market cap of $1000, let alone millions of dollars. BCH is a rip-off scam, $12 billion market cap. EOS is centralized shit, $6 billion market cap. TRON is plagiarized, $2 billion market cap.

The sooner these coins stop existing, the better.

Dominance of bitcoin will also help other cryptocurrency, because cryptos are created based on the characteristics of bitcoin, so if bitcoin increase other coins will also increase, and if bitcoin decrease other coins will too. Its just that some cryptos have different outcome because they are not popular just like other bitcoins and other coins.

a few others have hinted it.. but not laid it out as bare as i will

stop giving a crap about market cap
i can make a coin with 21 trillion coins. sell just 1 coin for $5 and instantly have a market cap of $105 trillion
thus making it the top of 'coinmarketcap' and making bitcoin less than 1% in comparison... all for the price of $5

what actually should be done is take some FEATURES that the majority of crypto have. and give them a point system for how important they are.
and then show the points total for each coin.
then this actually might start directing bitcoin devs to see what direction the devs need to go towards to keep people excited by knowing what bitcoin lacks that other coins have..thus identifying what is needed to then earn bitcoin more feature points to stay ontop

.

This is a thoughtful information that coinmarketcap lacks. Though there are other sites that provides this sort of system. The only thing is that they are not ranked. E.g coincheckup

I don't think the dominance is made up to be honest as I know a lot of people who are into crypto scene and according to them its the whole community's trust over Bitcoin which is being reflected on the market. A healthy competition will always choose a winner and in this case, Bitcoin is clearly the winner among other coins.

The dominance was very much predicted as I think people always trust Bitcoin over other coins. There is a reason why I am saying this as most of the investors of ALTcoins are basically trying to gain some ALTs so that they can later convert it to BTC. So, it proves that most of them care about BTC, which is why the market is being like this.

Yes definitely Bitcoin has taken the largest portion of the crypto market from the last year. It was able to dominate the crypto market over 50%. But the recent down falls of prices of bitcoin can be threat for it. Most recently it has gone down by 11%.

I think it is not true. Bitcoin is the king of the crypto market which is true but there are son many potential altcoins and lots of people have invested on building the altcoins. So, in future the altcoins will be powerful to.

I think its true. Bitcoin dominant other crypto currency. Bitcoin always try to develop its sector but other coin cant cope up with it. So bitcoin lead this market.

Yes you are absolutely right.We should not rely on coinmarketcap for finding bitcoin dominance.That calculation is totally wrong.

others have already addressed the market cap falsehood but i don't see anyone addressing the title.
bitcoin dominance (its real dominance not the market cap nonsense) is not threatening existence of any other cryptocurrency. if any altcoin is created in the future which is good and has real features to act as a real cryptocurrency not just some pump and dump then it will be used and will become big.
only newbies choose bitcoin because it is on top and it is the only thing they hear about at first. but most people choose bitcoin because it is good, because it is safe and because it is used in the real world and is not just "virtual".

IMO, bitcoin doesn't thwart the growth of any other cryptocurrency but rather help it gain some traction even though all eyes are focused on bitcoin. Also, if the coin is worth buying and worth checking out, people will go the extra mile to support whichever crypto they are interested or invested at. Time and time again, people have proven that market capitalization and currency dominance are somewhat unimportant statistics that could go out of the scene. Every coin has their own phases of growth and increased interests, so there's that.

This is a good initiative as it will bring growth and will make the coins more stable. That way the coins which are not making any growth will cease to exist and the potential ones will survive.

Bitcoin is not threatening or dominating over any crypto currency. It is simply us, who do not favour any other coins over it, because the market has not produced a coin that is better than BTC. Therefore it is still the leading in the market and is not the dominating one.

Your statement is a paradox. What's the difference between dominating and leading. They are thesame especially when there is a race of which will be the first

Do you remember the BitConnect scam? This useless coin had a market cap of almost 3 billion US dollar. The dominance is calculated by dividing Bitcoin's market cap by the total market cap which includes scam coins like BitConnect. We can conclude by this that the dominance is truly a useless value. Even today, BitConnect's market cap is over 6 million.

Well… bitcoin does appear to have an insurmountable advantage over its competitors when it comes to market share and popularity, but no one knows for sure the true implications of the competition because the world has yet to master this so-called decentralized virtual currency. Technology expands exponentially by the day, and different cryptos seem to have different features that make some more appealing than the others. But the best will always come out on up.

On the other hand, the domination of Bitcoin helps the Altcoin grow. In the cryptocurrency market there are many coin, in order to survive they have to compete with each other and especially compete with Mr. Bitcoin. The competition helps other coin grow and develop. By only developing it can be enough strength to compete with Bitcoin.

Bitcoin dominance will not treathen the existence of most cryptocurrency ,because bitcoin as the lead coin in the coin markets , serves as the referrence value of other altcoins which are also circulating in the cryptoworld, so bitcoin is the guide coins of the altcoins and tokens in the coin market cap.

Regardless of how you measure dominance, bitcoin is likely to be 99% of the new adopters' entry point into crypto whether that is through individual investment or institutional pathways. For many people crypto IS bitcoin. I don't see this dominance going anywhere esp since so many alternatives are either untested or have problems (but realizing that they too have higher ambitions for what they can do than bitcoin).

in a perfect world this could have been correct and we could have seen a constructive and real competition where they improved in order to become more successful. but what happens in reality is that these altcoins start a social experiment to see what people want to see and what makes them most hyped up and then create something advertising that. for instance last year privacy coins became a thing for a while and during that time we saw half a dozen privacy coins but 5 out of 6 weren't even private coins! and they got pumped.

I think the momentum will soon stop. The Bitcoin price was recovering in the market till the last week Monday when the price started falling again. But I guess this is temporary and soon the price will start rising again.

You got it backwards, altcoins are the ones artificially dropping the dominance of bitcoin, the real dominance of bitcoin should be in the range of 70% to 80%, and if the developers of altcoins do not like that then they should put more effort in their own projects instead of trying to blame bitcoin for their problems, because if it was not for bitcoin in the first place it is doubtful they will have a project at all.

To me what it is happening is clear people are losing hope in altcoins and icos because of the very poor results they are getting not only in terms of money and profits, but also in terms of adoption and the technology in itself, despite the claims of many developers only a few altcoins have any kind of use, all the rest of the coins are there just to speculate with them.

Bitcoin dominance has increased, But what has happened to bitcoin itself? Has the price risen? No, So bitcoin is also being threatened.

I do not think that. As we all know, the existence of Bitcoins has a great impact on the rest of the Altcoin. The change in exchange rate of BTC will make the market volatile. So the Altcoin can not avoid this problem.
So it can be said that in the Crypto market, Bitcoin is like a king who reigns for a long time, the arrival of the altcoin as a filler for this great potential market.

People is quite boring waiting for ETH that was always postponed and now most of them sell their bitcoin.
And right now the market cap is the lowest of the year, i think they're wait for new low

Claiming market capitalization to be bitcoin dominance is a false exaggeration. Even if the market capitalization continues to rise, it would not threaten the existence of altcoins. As when more investors would eventually want to enter the crypto market they will want more than one  place to lock all their funds in. Besides it will be really ironical if bitcoin would eventually become the doom of the ICO market.

I agree with you, that bitcoin still has a big influence on markets and other altcoins, bitcoin falls and other altcoins also fall, I am worried that altcoin not only falls and loses value, but disappears from the market, like UAHPAY. and now we can't detect UAHPAY coins on CMC.

many people speculate, if the ETH gets a good response from the SEC, then bitcoin will reach a value of 20K, some people think that the bitcoin ETF is a rocket that can bring bitcoin to the moon like in 2017.

but, in my opinion, this is a wrong perception, I agree that bitcoin ETF has a good influence on bitcoin volatility. but ETF alone isn't enough to bring bitcoin to the moon.

Of course not, you are talking as if the price is the only measure stick to determine if a coin is at risk, the reason that work for altcoins is that altcoins only exist for one reason to speculate with them very few altcoins are useful and are used for the reason stated in their whitepaper, bitcoin in the other hand besides its price has the best developers behind it improving it every day.

And not only that bitcoin is also a network, why do you think that Facebook is so valuable? Because it has hundreds of millions of people using that social network everyday, the bitcoin network is very valuable since millions of people are using it and as its popularity increases that number will go up, so bitcoin is not threatened at all by its current price.

Bitcoin dominance doesn't have any negative impact on the existence of other cryptocurrencies , but rather on their prices . what bitcoin dominance simply means is that people are shifting their investments from other alts to bitcoin which is good in this time as we need more volatility to regain the trust of investors and once market recover , bitcoin dominance will return to normal like 25-30% of the market.

It was predicted long ago that most of the altcoins in the crypto market will crash once BTC begins to gain dominance in the market. Its always good to hold only those coins that have real world applications and advanced and unique technologies. It was predicted in early 2018 that 75% of the altcoins will fail and cease to exist. Maybe the prediction is coming true. Just hold well established coins which have real world applications and you have nothing to worry even if BTC dominance reaches 80%.

Even today, the market share of BitConnect is over 6 million. Technology expands exponentially during the day and different ciphers seem to have different features that make some features more attractive than others.

I think that Bitcoin can approve cryptocurrency with its advantage. After that, Altcoin will be able to grow on the market and take up its position.

The dominance of Bitcoin in the cryptocurrency market may not destroy altcoins, but it has a depressing effect on them. We can especially see this in the example of this year. Bitcoin was pumped, it fell in price since December and for the whole year the whole cryptocurrency lay on the price bottom. Everything almost stopped, including ICO projects. In my opinion, we didn’t want such a decentralized cryptocurrency market.
Many here criticize the Altcoins and their uselessness. Yes, the percentage of uselessness of altcoins is high, but this is still one of the main directions for the development of cryptocurrency. Moreover, the practical direction, the one that will be introduced into practical activity, and not pump air, as most universal coins do. In general, I am not satisfied with the hard price dominance of Bitcoin in the cryptocurrency market and I hope that the market itself will soon be able to solve this problem.

actually what is the big impact that bitcooin gives, so that the price of the altcoin is affected by that impact?
and is it true that most people only see from the company in domination only when they invest in crypto?

Dominance of bitcoin in the market is not threatening to other coins, what I think!! Most of the new members of the community have preceived the meaning of the bitcoin dominance in the wrong sense and that make all the difference! Everybody's got their own viewpoints regarding the bitcoin's dominance, and everyone's level of interpreting the same differs. So it is entirely subjective matter and let's not get into that. What my opinion is that the bitcoin is a major crypto coin, so the price movements of the bitcoin have either a direct or indirect bearing on the price of all other cypto coins. Actually all other coins do not have such a good market capitalization rate when compared to bitcoin. So that's the reason they do not come up in the highlights!!