Bitcoin Forum

Thoughts?  :-[

About 3 years ago amid the rising number of altcoins and ICOs, some bitcoin maximalists wrote reasons of why those altcoins would ultimately fail, and bitcoin would eventually dominate. Some of these articles can be found on Nakamoto institute website. Very interesting read.

The prediction sounds ridiculous to some people, but now it seems to come true. Bitcoin rising in value, and altcoins slowly bleeding to non-existence.

One thing many people don't realise is: market cap / money flow / coin price aren't necessarily linked to superior technology. Money is a collected hallucination. You can have outdated technology which people want to put the money in, or superior technology which no one cares.

The 1-day chart showing that it will try to break the trendline again.
On 10 July Bitcoin want to break the resist but failed. And this time it happens again. I hope good news today so the volume can increase along with the confirmation of a breakout.

Being a bad sign for altcoin, when dominance of Bitcoin goes up like this will make altcoin fall into bear market for a long time.

It is really a bad sign among those who have bags of alts, but I suggests that you should bag some alts that has potentials not just driven by hype. I advice you to bag those stable alts as well.

I thought that this is normal and everyone knows if this is not the altcoin time but this is the bitcoin's momentum. There will be another resistance that must be passed by bitcoin. im feeling worried if this another bearish trap again.
As long as the altcoin keeps follow bitcoin and it doesn't lose a lot of value and that's not a big problem.
Altcoin must release more products to attract investors.

Almost all the altcoins are losing against bitcoin when I checked at poloniex this morning and bitcoin dominant is increasing since the current bull trend commenced in April. I think before the end of this August we would be talking of 70% and that is going to kill the altcoin market further. There are some altcoins that I hold that have lost over 80% against bitcoin since this bull run started and some of them has even lost 95%.  The current bullish trend is about Bitcoin and not other coins and that is a sign that Bitcoin has started getting trust from the General public and people are looking at other coins as shitcoin 

Some expert says this market chart can push bitcoin into 15K or more in this end of august, keep buying bitcoin..its greedy time.

Update, it's 67.8% now per https://coinmarketcap.com/charts/#dominance-percentage
This is good for Bitcoin but bad for altcoins, as we can see, it's still a lower amount of money are inside the market compared to the last time there was a bull run, and as we see the BTC dominant rate continued to increase, this will lead to more and more dumping for altcoins

If we review the major altcoins in the market, we will see that they are not performing well, and I ca also feel that investors are pulling their altcoins investment to put on BTC to be on the safer side.

Currently it is 67.4%, this is a good sign. In 2017, the value of Bitcoin has risen very high, rising to 75% and then it gradually slipped away and made the prices of alts rise.
So I think now we should buy more Bitcoin and wait for it to increase sharply, then you can take advantage of the difference to buy more than the alts you like.

There is not really much to go on regarding BTC vs alts because in reality some of the alts are faster,cheaper and better than BTC.
Most of the ICO alts are almost dead , it really doe snot matter if the ICO behind them was legit or shit. Its all about speculation and drive to make money!

the dominance of btc in cryptocurrency is indeed big. At present the influence of BTC is extraordinary. so I think this is a possible thing because BTC is one of the crypto rulers who currently dominates

This is expected. Until the current ATH Bitcoin is updated, altcoins will continue to move to the ground. But some of them will survive. Of course, many will be replaced by new ones. Therefore, we need to monitor the market and new coins. And these new altcoins will be bought by new investors. These will be big rises.
I think that the time will come when an increase in the dominance of BTC will cause a drop in dominance. Due to survivors and new alts. Bitcoin is a kind of hostage to the situation.

Nothing can really stop the dominance of Bitcoin it will never change even if any Altcoin would combine and even with the number of ETH type of coins there is no chance in overtaking Bitcoin, Even if many countries would have to ban Bitcoin its price would continue to increase, And because of the cycle of Bear and Bull Market keeps on repeating, And traders simply love its volatileness.

We can see the true Bitcoin Dominance in this Chart beyond compare to any Altcoin.

https://i.imgur.com/jMZviBa.jpg

Before altseason, Bitcoin everytime increased its dominance, I think it's only temporary and we will soon see Bitcoin dominance back to 33%. Do not worry.  8)

Every expert will say positive about bitcoin's price and we usually hear those kind of words of encouragement and speculations. This is a speculative market so expect speculations from those "experts" who has bitcoin to be positive.

Most alts are pumping although it isn't that much. The dominance of bitcoin is controlling them to have a slow pump while bitcoin itself has an unstoppable pump and I'm riding it.

But you must remember if this time the situation is much different compare with 2017's situation. ether loss demand in the ICO and no more icos are using ethereum to funding its project and this gives a huge impact to the price of ethereum after 2017 and this year it looks like ether is not even going so much with the bitcoin almost touch 12k level again.
This is a big problem for ethereum when bitcoin keep increase in its dominance and altcoin still lost its value.

Nothing special to that, BTC dominance will continue to increase as altcoins will suffer but that doesn't mean it will continue to hold that dominance forever, still crypto is very unpredictable, we might see some good surprise in the long run like the old dominant rate of BTC which is at sub 30% and  that resulted to a healthy overall market.

Actually its good for crypto in general and for btc hodlers

All of this happened because of the price stability that bitcoin has, and everyone who has invested money in bitcoin will be very happy to see this development.

I can't agree with that, it's only good for BTC but if you look at closely, you will see how altcoins struggle to increase, some even loss 90% of it's value and when an asset lose that much, it badly needs to recover, otherwise it will just die and it will not recover until BTC does not loses it's dominance so people will put some of their money in altcoins.

Technically, 70% is a very very strong level. During BTC ATH the dominance was at these level and these levels act as a strong resistance. But as you know,  speculation is the name of the game.

What is so scary about this? We have already seen 70% before and I have even seen 80%,,, it is Bitcoin that should be afraid that after all this struggle it can only recover back 70%. But of course,,, this is actually showing how stubborn Bitcoin is, rather than how good alts are. And the reason why Bitcoin is always the winning bet in crypto.

Not all altcoins, it depends on a certain altcoin, if the altcoin you are investing is known to be a legit one and it has dump many times already, that is an opportunity for me, altcoins will eventually rise although we don't know yet when but it will never be worthless if it's a legit coin.
Computing it's probability to go down further against it's recovery, I would say recovery is most likely will happen.  

Well after too many shitty and unsuccessful project, btc dominance is rising and rising.

It seems, investing in alts was a bad idea but it is too late now.

With bitcoin as the most dominant coin right now, this would be good news.
But for holder altcoin, be prepared because most of the altcoin will drop due to the dominance of Bitcoin.

Relax, it will go back after. Just wait for Bitcoin sideway and have a stable volume.
Then altcoins will move after that. Just wait, relax and don't panic.

Very soon, the dominance of bitcoin will caught across the entire cryptocurrency space, and bitcoin will be able to dominate all the markets, both stock market, and Forex market will be a child to bitcoin market. Altcoins are just another child’s play which I see a lot of them just wasting their time, most especially those altcoins that keep sclaiming at displacing bitcoin and promising that they have a better features and future than bitcoin.

Bitcoin system is unstoppable, and the way bitcoin is going, I am sure that world government will one day deliberate on it to see if it can become global currency, and I think that many countries are gradually realizing that bitcoin is not a threat to them as much as they think it is, so this dominance just started, more percentage will be documented.

It only means that cryptocurrencies is only used for speculation. And the best crypto is Bitcoin for speculators. Technology/transaction speed/transaction cost and the use of an altcoin doesn't matter for speculators. What is important is to get more fiat currency or more bitcoin when bitcoin is at a low price. It is sad for innovative tech companies in crypto. If they don't depend on their coin/token, they can still survive.

I wonder if Btc will hit 80% or above again.
History is repeating, but it is tougher now to do that

July 10 is the highest growth of bitcoin since 2018 and no wonder this time for the second time of attempting market capitalization of this coin will reach the highest point agin

And maybe if does this will be the beginning of the real bullrun and no manipulating involvement because people now are sick of this whales strategies and always taking investors money

I would say that the increased dominance of Bitcoin is a consequence of the long bear market. Confidence fell dramatically, and alts were naturally hit harder. And when the bear market ended, and confidence started growing within crypto again, Bitcoin is the obvious safest bet to buy back in. I would say alts will only take over the market growth once the consensus is that we are back in a long-term bull trend. It make take a while, but I do think it will happen and that it certainly isn't the end for alts.

But that is the issue, bitcoin is not only a new technology it is also a form of money, the US dollar has been dominant for almost a century despite its huge flaws and the fact that it became fiat during the 70's, most developers do not understand that no one cares if they can develop a network that is slightly faster than bitcoin, the first mover advantage that bitcoin enjoys will be impossible to overcome unless a fatal flaw is found in the code of bitcoin, something unlikely since the best developers of the world are working on bitcoin and not with the competing alts.

BTC is on the fire with such a strong demand all around the world everyone want to buy more and more just FOMO has been started and people are dumping their altcoin for BTC. I'm quite sure dominance will keep rising if it will keep moving with that trend than very soon it will be above 70% in next few days.