Bitcoin Forum

While the price reached the ath value the dominance level of bitcoin was close around 55%, now bitcoin is close to 50% after a long. With the decline of ethereum and other expected cryptocurrency the dominance keeps increasing. Is there any possibilities for a price pumping with bitcoin as well other major altcoins with regards to the dominance level of respective cryptocurrency.

It simply means more people are getting their money away from altcoins and moving them to BTC for multiple possible reasons.

Pretty much almost everything is declining in price.

A price pump is always possible irregardless of the dominance %. It's just a matter of when.

wrong!
"dominance" of bitcoin is still up there near 100% as it has always been for years and that has not changed that much. maybe it  dropped to 95% at some point but it is still up there.
what you are quoting is not "dominance" it is market cap share which is meaningless and only coinmarketcap.com calls it falsely "dominance".

wrong again.
traders aren't going to pull their trading funds out of the altcoin market just because they are getting dumped. traders know well enough how to make money in that market from the pump and dumps and their funds will remain active there.

the reason why the market cap share of bitcoin is increasing is the same reason why it was decreasing. because altcoins market cap is fake and easy to rise so also easy to drop.
when a coin has 100 million coins in fake circulation and its price goes up $1 its market cap goes up 100 million. but when bitcoin price goes up $1 its market cap only increases ~$17 million.
for instance when ETH got dumped another $100 down to $300 range it simply lost $10,125,000,000 ($10 billion) market cap in a blinking of an eye.
same with XRP. a $0.2 dump meant it lost $8 billion market cap.

this is how fake market cap is! and this is why it shouldn't even be used in first place to compare them.

Well, quite true. But that's completely assuming that majority of traders actually know what they're doing. We're talking about the majority here, possibly(not claiming that this is 100% factual) moving their altcoins to bitcoin as it's getting dumped a bit less in terms of percentage.

The dominance of bitcoin keeps growing, now it has crossed the 50%, the statement putforth in one of the previous quote stating the people's interested towards bitcoin keeps growing. Now the investments over altcoins seems taken back and those were getting invested on bitcoin.

well it is true. but it has nothing to do with market cap and what they call "dominance" though. the reason for that "dominance" change is what i said above and also the fact that altcoins are dropping a lot faster than bitcoin. for instance a 5% drop in bitcoin price in past 24 hours has been equal to 10-15% drop in top10 altcoins.

people exiting altcoins is either one of two things. they dump them for tether which is why tether volumes are high at times like this or they dump them for bitcoin and then since bitcoin is also falling they panic sell that to get real fiat and make a complete exit of the market. in fact this can be one of the reasons why bitcoin price drops at times like this.
neither of these two increase bitcoin's market cap.

It can mean only one thing. A lot many of the altcoins were heavily over-priced, and they are steadily losing their value. Look at Ripple. It had a market cap of close to $40 billion a few months back. Now it is down to $13 billion. IMO, the fair market cap for XRP is around $1 billion.

In the most general sense, it basically means Bitcoin's market cap is doing better than the rest of the altcoin market. There are many possible reasons behind this though, of which many have already been speculated over by other posters.

Personally, I think this just means that the market is barely attracting new money. The overall altcoin market cap is always being pumped by new shitcoins, so its general decline suggests a decline in (new) shitcoin value. We also have to note that Bitcoin itself isn't doing significantly better than most of the top coins, so it follows that the lower echelon of altcoins must be the most significant factor for the change.

But yeah, as many would tell you, Bitcoin Dominance as a statistic is meaningless because of how easy it is to pump the altcoin market cap with forks/ICOs. For some perspective, Bitcoin Gold, which is a shit fork that recently got hit by a 51% attack, contributes $340 million dollars to the altcoin market cap. That's just ridiculous lmao.

I would also say market cap is also mostly a meaningless metric, but I digress.

uh man again with the market cap nonsense :D
altcoins get pumped, we hear market cap everywhere. altcoins get dumped we again hear the same market cap everywhere and it still is just as meaningless.
what does it mean? it just means altcoins are continuing to get dumped as they were before and their dumps get more severe at times which means their total market cap of 2000 altcoins drops hard.

BTC crossed it’s worst time this year because it’s decreasing till the begging of the year. But still it’s dominate crypto world cause it’s makes itself  sustainable to  investor’s .

I personally think that this is normal bitcoin is the most popular cryptocurrency and the mose truseted too. Now a days the market is full of scam tokens and condition of other alt coins is also not that good. That's why people are moving towards bitcoin.

Yes, bitcoin dominance is growing now and has crossed almost 50%. As now ALTcoins is charging their price very high, people are taking back their investment from the ALTcoins. They are now much more interested in BTC and investing there.

It means altcoins are not doing well and losing their value. Previous year Ripples market cap was $40 billion but now it is only $13 billion.

It is quite true but not accurate. The dominance of bitcoin has been growing now and almost crossed 50%. People are now again investing in bitcoin taking their investment back from the ALTcoins. Altcoins are now charging over price and people are not interested in it anymore

Well, it is quite true to some extent. The bitcoin dominance is growing and now it has crossed almost 50%. Now people are taking back their investment from the ALTcoins as they were heavily over priced and they are losing their value. People are now investing in Bitcoin!

It can be true. But it is estimated and most businessmen actually know what they are doing. Bitcoin dominated over other altcoins with its feasibility and popularity.

It means that people are holding more bitcoin and are using bitcoin to make transactions rather than using BCH or ether. BTC is at its rightful position. BCH is nothing but a gimmick that roger and Bitmain used. The day Bitmain ditches BCH thats when BCH is dead. And pump we have seen for bch that was nothing but Bitmain buying a ton of BCH and inflated the price and the BCH followers followed like lambs for slaughter.

it was a small increase due to some countries that are very actively began to buy bitcoin! a lot of people and traders decided to wait out the hard time in bitcoin! now it is very profitable to buy ochtalnye krypto coins, they have very low prices!

It almost means nothing actually. Everyone is now dumping their altcoins back to bitcoin. Bitcoin is their safe haven. But bitcion's price will not pump because of that. It will remain the same. All hail to altcoins that said bitcoin has huge gaps and their better than it. It's like a black friday for altcoins when the market goes red.

To simply put the increased dominance of Bitcoin, people are backing it up and putting their trust on it. Which is why bitcoin dominance is increasing. However, Market capitalization calculation can be easily manipulated so it doesn't significantly helps us to come to decision. I just expressed what I realize from such numbers and figures.

maybe you need to check the "numbers and figures" again because you are quite wrong. people had "trust" in bitcoin already and were backing it up already, nothing has changed in that regard. and bitcoin price has not changed at all either. it is still fluctuating as always.

what has changed however is that altcoins are getting dumped. and as their prices go down hard, they lose market cap so the total also goes down and this  "dominance" being bitcoin MC/total MC is now increasing.

Highly possible. People are probabaly preparing for a bitcoin run more than any alt right now and i wouldn't worry about eth also since even with btc's dominance rising, eth and all other alts will have supporters pouring back when the market starts a real recovery.

According the recent data of coinmarketcap, Bitcoin holds 50. 77 % of dominance in the cryptocurrency market capitalisation. I think this news will lead to a rise in price of Bitcoin. Bitcoin was always the dominant coin in the market and it still holds the topmost position among all other cryptocurrencies.

With the level of dominance almost half of market capitalization then the possible scenario is the decline price of altcoin, reason is most of traders and investors make their way most into bitcoin and rarely take a risk into some altcoin. Dominance is a some signal that CMC make and sometimes doesnt mean anything.

The BTC by increasing dominance level will be pumped by the enthusiasts if the recent hypes work out. If all go in the usual manner, BTC price will be nearly doubled by the pumping factor, I guess.

Altcoins losing their sustainable place. Many altcoin are overprice and suddenly it lose it lose it’s price steadily. Altcoin ccan be pump their market value.

The price of BTC last year at this date of 8/14/17 was $4,145.44 on https://www.worldcoinindex.com/coin/bitcoin (https://www.worldcoinindex.com/coin/bitcoin) listing.

Just an example of just how complete a 'bubble' the price was and a caution of what it still might go down to (bottom) before any recovery.

So, it may be more than just Altcoins that we may have to worry about, if as they say, a bubble sometimes goes back to the price it started from, before a rebound.

(On the other hand August of any year, always seems to suck)

brad

Right now, traders are converting their Alts to Bitcoins as ALTs market has crashed very badly and Bitcoin market though facing a bearish trend but still going strong as it has reached a stable price of around 6,000$- 6,400$. So, the dominance just shows the trust being put on Bitcoin by it's users right now. Nothing else.

i don't understand how you come to this conclusion!
yes, price was something lower than this at some point and now it is higher but none of it says anything about any bubble!

and no, just because price was $4,145.44 a year ago it doesn't mean it still might go down to (bottom) before recovery.
it might drop for many other reasons but this is not one of them.

interesting thing is the fact that price was 4000 last year and now it is 6000 which is only about 40% higher shows that we are extremely underpriced because as a rule of thumb price usually goes up at least 100% per year. :D

Bitcoin (BTC) now makes up 50 percent of the entire cryptocurrency market capitalization.

 On August 11, bitcoin dominance clinching the total percent of cryptocurrency market capitalization  reached 50 percent for the first time since December 19th, 2017.

Bitcoin’s market capitalization now records $105,785,552,545, which is about $901 million more than the market capitalization of every other cryptocurrency combination.

It just means that due to highly volatile and sensitive condition of the market currently, people are shifting to much secure investment that is BTC. Once the market gains stability and moves towards bullish trend, altcoins will again gain dominance in the market. Although according to predictions of many people, 75% of the altcoins will fail. So its wise to only invest in well established coins that hold real world applications. BTW BTC has already reached 53.4% mark in terms dominance.

It means that bitcoin is the most popular cryptocurrency in the market. People choose bitcoin over altcoins because of its high value and security. This popularity will increase every year.

Bitcoin has the same dominance last year. I think it is good for cryptomarket. Because worthless coins will be out from the market because of the price drop. So it is not bad from my view.

It looks good to me. And it has possibilities to have more dominance in the market. I think it will go to 70% in upcoming days. It looks like it will decrease the numbers of altcoins in the market.

Increasing market share of Bitcoin means investors in the market have turned their investments into Bitcoin. In this case, the price of altcoins is falling. In the market altcoins cleaning can be done.

It is cycle which is quite similar like 2017. The market is fully dominated by Bitcoin. Bitcoin is leading all the coins. And it's dominance is good for the cryptomarket.

I disageed with you buddy cause the current market is not similar to that of the year 2017 because the market was moving side ways not on bitcoin only. Although, bitcoin net dominance was about 73% i could remember correctly from year when bitcoin was created till last year.

This means either more altcoin holders were shifting their investment to bitcoin or else more new investors were choosing bitcoin as their first choice.I f the bitcoin ETF had been approved,then this dominance level would have gone much higher.

It's so simple. Many people are selling their cryptocurrencies for Fiat. As people have to sell their altcoins for bitcoin first, altcoins are falling more than bitcoin. So bitcoin dominance is rising.

   Cause I was interested in this topic I made a little research about it. I came across this article:
-Why The Bitcoin Dominance Index Is Deceiving! Link to article:  https://medium.com/@jimmysong/why-the-bitcoin-dominance-index-is-deceiving-80ae324ee2ac (https://medium.com/@jimmysong/why-the-bitcoin-dominance-index-is-deceiving-80ae324ee2ac)
   Very nice article from Jimmy Song. I think he deserves his name to be mentioned, he should take a lot of credits for his article.
With many arguments and his skill to explain something complicated in a simple way this is one of the articles that many people should read.
I will copy/paste couple lines from his article and I hope I will make some people interested in reading this. I will start with what Bitcoin dominance is:

-"The Bitcoin Dominance Index was put together a few years ago to show exactly how much of the entire cryptocurrency economy is dominated by Bitcoin"

-"The market caps on a lot of these altcoins are hugely manipulated. Consider one of the original manipulated altcoins: Ripple. They premined all the coins! That is,
they created all Ripples beforehand and only released them to the public a bit at a time."

-"Like with most things, Bitcoin Dominance is a very crude metric and one that’s unfortunately very easy to manipulate. "

  

Very true. Market cap of many altcoins is purely virtual with almost no trading volume. Some have fast growing market caps simply due to the fact that founders or majority stakeholders grant themselves large numbers of new coins.

In my opinion Bitcoin dominance is growing despite these altcoin-favorable distortions because many alt "investors" are beginning to realize that most altcoins have no real use case other than being vehicles for speculation. This is the beginning of the end of the altcoin mania.

As I know the dominance level is more than 50 percent. The past quota stating that people paying attention toward it and it keep growing. Now the investment over the other coin are taken back and they invest on bitcoin.

Bitcoin's domination is increasing, now it crosses 50% and people's interest in Bitcoin is increasing steadily. And near future it will gone 100% I guess. But bitcoin and altcoin has a huge potential also.

I believe it means nothing because bitcoin is anyway getting heavy volume everyday and it is almost the same volume which is used to be back in year so I dont see any significance of this value. This value is just representative of some data against some data (btc vs alts) and is menaginless information to predict anything about the bitcoin. The bitcoin movement is more or les fundamental based and thus if you really want to see if bitcoin is pumping or not then just look at its value, see if it has moved from X to Z. , dont bother yourself with the dominance stuff.  ;D

Well i am not knowledgeable enough for this matter but in my opinion there are things and possibilities to consider. Maybe because there are fakes in altcoins that is why its easily goes up but also easily goes down or sometimes totally drop.

BTC dominance almost 50% and it’s show that still BTC is more popular and sustainable to investors instead of it’s declining market value.

This figure shows that Bitcoin's performance is far better than Altcoins. This figure shows the impact of Bitcoin on the market. When Bitcoin increases everything will increase and vice versa. I think entrepreneurs will know what to do in this market. And Bitcoin Investors and Researchers expect Bitcoin to return.

The Bitcoin market cap is better than the rest of the Alexander market. There are many possible reasons behind this, which have been speculated long ago. And for this reason bitcoin is dominance altcoins.

For me, it simply means that people are trying to get back their investments to Bitcoin since they feel that it is about to pump that is why the volume it going up.

I agree.

The downtrend continues although many investors have tried to hold onto Bitcoin and not sell them because they believe this will help stabilize the market. But market players continue to play their games with investors, continually creating volatility and making them worse.

It isn’t that alts are taking over, it isn’t that Ripple, Ethereum, or Bitcoin Cash is replacing Bitcoin, it is that this is all occurring incrementally in wave-like patterns as Bitcoin makes headway and then enters a periods of correction (periods in which all other coins thriv

Bitcoin's dominance has increased, as a result of the decrease in the price of altcoyins, while Bitcoin is relatively stable, the altcoins are popular and thereby select the percentage of Bitcoin's dominance.
Such a situation will be until mid-September.

if investors held their bitcoins then price wouldn't have went down in first place. they have been selling which is why price fell. and they also have been buying which is why it didn't go down after some point and it is reversing back up now.
it is not always about manipulation, we can have fluctuations with 0 manipulation involved too.

It shows that even after the price of bitcoin falls, investors believe in bitcoin

correct, my sentiments exact. The over inflated market prices of altcoins are beginning to finally deflate with the current downtrend we've been experiencing these last couple of months. It may also be the reason that an ETF may not be approved any time soon. The market is wildly unregulated and subject to heavy manipulation. Imagine if satoshi actually wasn't  altruistic and decided to cashout?