Bitcoin Forum

Despite the recent price decline of Bitcoin, the prices of huge altcoin names such as ETH and BNB have gone up. Over the history, Bitcoin has been and still is the most reliable cryptocurrency and the others don't seem to overtake Bitcoin's dominance in the foreseeable future. In the current bear market, will altcoins prosper and gradually challenge the place of Bitcoin ? Why or why not ? Please share your thoughts.

So far everything points at a complete different direction. Alcoins dies one after another (luna, ftx), 99% of them are scams, NYDFS calls BUSD a security, New York Attorney General sue kucoin for offering securities (ETH). It seams that next bull run will be a bitcoin only theatre.

But even if I'm wrong (which is very likely) it really doesn't matter if few altcoins will overtake bitcoin in marketcap. Its like calling a gold "useless peace of rock" only because apple has bigger marketcap (we are not there yet). Gold is gold, apple stock is apple stock. People who want to own gold wont buy apple stocks and abandon gold only because it has bigger marketcap. Bitcoin is digital gold, Ethereum is a smart contract platform.

It is a big NO that any altcoin may surpass Bitcoin.Bitcoin is the first of all cryptocurrencies and is still the king,it has a huge market capitalization that other altcoins simply cannot achieve,most of all other altcoins we know their creators so we know which road most likely their go based on statements from their owners but we don't know yet who created Bitcoin despite knowing the team behind its development and I think this is a key point,Bitcoin is the true decentralization while most alts try to imitate it.

In the foreseeable future I predict no altcoin to overtake Bitcoin and I also predict that when the Bitcoin will reach a new all time high,like always most of alts will also increase in their price,this has been history and this will continue to be history.

Yeah, there's the price dump for bitcoin but look at the price of it again, the price quickly back to $22k and that was too easy.

It's better to forget about this thing. It's been asked many times in the past whether it is bull run or bear market. Bitcoin has already proven that it won't be replaced anytime soon no matter what project is gonna come out and how optimistic it is.

It is possible for some alt coin to cross the market cap on bitcoin in  future. But that will not reduce the importance and value of bitcoin. When we talk about crypto, first thing that comes in mind of 99% people is bitcoin.

So far as the survival of alt coins is concerned, some alt coins will do well. Like BAT for example , it is related to Brave browser and I really like the integration of Brave and Bat coin. Getting rewarded for using a browser plus the browser has many other use cases like no ads while browsing YouTube videos. What more can a user ask for ?

Altcoins always thrive in the shadow of bitcoin once it enters a new bullish season. The opposite never happens, what means bitcoin is the cause and altcoins are the effect. And to say the truth I don't think that is going to change futurely, as bitcoin influence and popularity tend to be the strongest one among every of its pairs, due to its history of success and trustworthiness since its initial launchment.

One day, if an altcoin becomes a real threat to btc, then we might start talking about it growing by itself, outside the shadow of bitcoin.

Nah, if you check the graph of ETH and BNB in overall, you will see the graph is similar with Bitcoin. Majority of altcoins especially top altcoins will follow Bitcoin price, but they're just slower, in the end they will follow Bitcoin's trend. Altcoins will not able to overtake Bitcoin's dominance, because during the Bitcoin's crash at 2017-2018, ETH still not able to beat Bitcoin despite ETH isn't affected with Bitcoin.

If you compare the number of coins percentage belong to owners, you will understand this. Most of the altcoins are belongs to the project owners. They have more than 50% ownership of those coins. but when it comes to bitcoins, there is nothing like that. So bitcoins are more decentralized than altcoins.

I don't know where you took your data from but I know for sure that those two altcoins you mentioned correspond with Bitcoin price movements. They bleed whenever Bitcoin bleeds and rise when Bitcoin soars.

That's true, at least at the moment Bitcoin remains the most reliable.

If you say none to top Bitcoin's dominance of the total market share at the moment, you're right. However, we may see a turn of such dominance in the "foreseeable" future you mentioned. Things are changing and Bitcoin's dominance is gradually dropping. Before it used to have over 70% dominance. Today, it's around 40%.

Let’s look at it this way. How do you overtake something? You certainly need to solve the problems it has. These Alticoins have failed to solve any problem they think bitcoin hasn’t solved. We see coins like Eth moving to POS and it didn’t solve any problem. At this time I don’t think this Altcoins can overtake bitcoin, they will follow in his shadow and even the market trend it is such

Despite how SEC will classify the altcoins, I don't think they can decouple the altcoins such as ETH and BNB to BTC. A lot of altcoins will still react the same way as they are all denominated by BTC on exchanges. They will thrive in the market and are more than likely to surpass the ATH also during the bull run.

But they will not replace BTC on top. We're aware that institutions are even just interested in BTC and nothing else.

As long as greed is still in human nature Altcoins will continue to thrive and we can see now that Bitcoin's dominance in the space is declining, there is a reason for this, it is because Altcoins are eating into the BTC market share. If you look at the relationship between BTC and Altcoin as see-saw effect, which is an  inverse relationship between  Bitcoin and Altcoins, when BTC price goes up, Altcoin stays the same in USDT or dumps in BTC value and later Altcoin catch up and pumps both in USD and BTC value leaving Bitcoin behind

ETH flippening were widely resonated, now, some project claim to be the Ethereum killers. The current and past market position also tells that Bitcoin price movements correlate with the cryptocurrency market.

The past shows us that most altcoins come and go, and the only legitimate project is roughly only 1 per cent compared to altcoins or token that currently exists. This spaces are full of empty promises, and the barrier to entry to make a project is low thus it filled the market with a worthless projects. Personally, Those two coins you mentioned are battling each other, it is hardly affecting Bitcoin on a significant scale.

Am not investing in any new projects till bull run start and we start seeing new projects in market, must of the project’s lunched now won’t survive the market. Am investing in some fee coins ahead of the next bull run which are, Bitcoin, BNB, eth, kcs and sol. I believe this projects will definitely do well in the next bull run because am expecting BNB to hit $3k and others will also do well.

Plain and simple, no.  If bitcoin goes up to 100k you can bet altcoin prices will surge and likewise if bitcoin tanked to $1k you can expect alts to fall off the cliff.  Short of the answer is bitcoin does and always drive long term price movements. 

Question I guess is how do you view dominance in the first place? Is it the market price? 'coz if that's the case there were many altcoins which did it in the past. Bitcoin happened to be a larger chain in this industry among other cryptocurrencies which makes it not surprising simply because it is the first crypto to ever be introduced. Altcoins do not really follow Bitcoin's shadow; it is just the fact that they are all having volatile market value and the only pattern their market prices could do is to rise or fall. Also, there's no affixed pattern with their market prices as we all know. It is just the market trend line which forms connections in between. Proof to this is difference with rate of increase and times wherein other coins are on bullish pattern while Bitcoin is not.

It will still be the same scenario where Bitcoin is the basis of this market, as we’ve seen right now when Bitcoin drops altcoins will follow, now that the price is rising again you can see most of the altcoins are also in green candles. Bitcoin dominances is still strong so I don’t see any Altcoins to replace it even on the next bull run. Better to have you Bitcoin and Altcoins at the same time, this can be more profitable for you.

there's always chance but you see right now even bitcoin is recovering, the market capitalization of these altcoin in general still far off from bitcoin even bitcoin dominance speaks volume.
I'd say altcoins will always behind bitcoin but I guess in the future things might change, after all if project that needs utilization from smart contract thrive, surely they will also increase the valuation for these smart contract based coins in general.

Doesn't the top altcoin always challenge the place of Bitcoin?  It is that Bitcoin is far too dominating that these top altcoins look like no match to the King of cryptocurrency.  As far as the competition of the cryptocurrency, ETH and other altcoin are always trying to surpass Bitcoin's dominance but they always fell short.

I think altcoin old projects or new projects will always try to compete against Bitcoin.  I also think that one day, an altcoin will replace Bitcoin in terms of market dominance. Remember there is no permanent in this world but change.

For me, Bitcoin will be always the huge mover and once Bitcoin will become sideways or Bitcoin will keep calm, altcoins will start to do their move I believe these kinds of price actions for Bitcoin and other altcoins are already here since before.
But I will never forgot to hold and add more Bitcoin to my bags, it should be my highest allocation.

It won't. It is because altcoins are generally subservient to Bitcoin. They probably cannot get past the one that made all of them possible. Altcoins owe their entire existence to Bitcoin. They simply can't get the same level of trust and confidence that Bitcoin enjoys. They can't be as independent and decentralized as Bitcoin also. But they will probably thrive in Bitcoin's shadows. Ethereum for example is solid enough to stick to its second place for a long time.

Bitcoin leads and generates attention, unique, trend-driven, structural momentum.  And thanks to that, altcoins have more favorable conditions for expansion and adoption.  There are top performing altcoins that surpass bitcoin in many respects but I don't think it can overtake bitcoin.  When ETH was born, predictions about it surpassed bitcoin but what happened after proved bitcoin's No. 1 position.  I think bitcoin and altcoins are mutually supportive and together form a sustainable development for the crypto ecosystem. If there are no unexpected events, I think not.

I think it is very difficult to get the place of bitcoin because the price of altcoins goes as occurs with bitcoin so whenever the bitcoin reduces altcoins will also minimize price and vice versa. Altcoins have many risk factors and believing it that it will give you higher cashback without knowing its reality does not suited well. Bitcoin increase the value of your money and it will not matter that how many years you kept it, your money will be saved and goes on increasing condition but a must is that selling should take place in appropriate timing. The replacement of bitcoin with some other coins in my opinion is not possible as it is the ever successful token in crypto market.

As compared to altcoins, Bitcoin has no rivals. It is possible that whenever bitcoin makes a dump, altcoins will pursue, and when it makes a pump, altcoins will mostly follow because they operate closely together. The price of Bitcoin has a positive impact on the demand from all sides, making it a very important factor. Without Bitcoin in the market, altcoins are worthless. For instance, altcoins would not exist if bitcoin had not been created in the space. With a consistent high trading volume, Bitcoin dominated the market overall. We are all aware of the significance of Bitcoin in this area and the increased likelihood of market volatility.

The price of altcoins almost always repeated the price movement of bitcoin. Sometimes such a movement may be late or not coincide at all for a while. However, in general, altcoins are in the shadow of bitcoins. Of course, this does not mean that this will continue forever. Cryptocurrency is developing and its development is mainly due to altcoins. Altcoins have a lot of useful features, but there are even more useless and even fraudulent ones in their environment. But altcoins will continue to develop further.

Altcoins may see some short-term gains during a bear market, it is unclear if they will gradually challenge the dominance of Bitcoin in the long term. Bitcoin's status as the original cryptocurrency and its established infrastructure give it a significant advantage over other altcoins, and it remains to be seen if any altcoins can overtake it in the foreseeable future.