This got me wondering, anytime there is a fall in market capitalization, we have an increasing bitcoin dominance, current sits at over 50 percent, what will happen if the ETF gets approved, are we going to have bitcoin draining the entire market,since the ETF is primarily a bitcoin thing at the moment, Is it going to be say 75 % bitcoin dominance for a market cap of 1 Trillion dollars? What do you think? Good or bad for the market?
There is literally not a single chance that bitcoin will be 75% in dominance, it is insane to think its even possible. For that to happen all the altcoins needs to drop insanely while the price of bitcoin goes high double or triple of it is right now. When bitcoin goes up really high people realize the money to be make on altcoins and they move on to smaller coins which causes the dominance to drop, hence if bitcoin goes up insanely high once again just like December than there will be coins that will follow bitcoin. Remember nano/iota/dash or so ?
cLook at their prices now. They will once again increase like crazy if bitcoin goes up, not because they are tied but because people see bitcoin increased too much and they missed out so they want to not miss this time and get in early on altcoins.
