BTC dominance decreasing.

[Clement Kaliyar]

That's insane how Bitcoin's dominance has been toppled without any major events. It seems like a silent transition from Bitcoin to alts.

Why is everyone talking about bitcoin being toppled as the major coin,did you really check the market cap and the valuation befrore coming to a conclusion.Long story short no alt coin can topple bitcoin no matter how hard they try and people are comparing bitcoin and alt coin ,where we have more than a couple of hundred alt coins and that comparison is really laughable.

[mindrust]

Bitcoin's dominance will keep decreasing in time and there is nothing to do about it. Below %50 can happen in a few years and If new altcoins keep making an appearance, (and they will) it can even go below <%10.

Bitcoin is like gold at the moment. It became so big, it takes enormous power to pump/dump . But a newly announced zero value altcoin can gain %1000 in a week. Because its starting point is "zero".

People always gonna feed those alts because there is nothing to lose if you buy them cheap. 0.001$/1shitcoin is cheap for many people, but 1$/shitcoin is also cheap for many. To become 1$ from 0.001$, that shit coin needs to gain %1000 more value!!!

The main thing here is, no matter how many alts keep coming, bitcoin will stay as #1.

[audaciousbeing]

A couple of months back (March), I remember seeing bitcoin dominance about 85% when It comes to the market capitalization. Its currently 59.2% and probably will continue to decrease in the next a few days. Is this something to be worried about?

Source: https://coinmarketcap.com/charts/#btc-percentage

The dominance and non dominance of bitcoin in the cryptospace is not a costant thing that have to always maintain a particular spot in the market. Its a currency in the pool of currencies which means its position at any point in time will be determined based on the forces of demand and supply which means if can increase in a particular month and decrease the following month so there is no cause for alarm in my own opinion. It might bounce back again and you will be surprised.

[Dogeboi3210]

That's insane how Bitcoin's dominance has been toppled without any major events. It seems like a silent transition from Bitcoin to alts.

Why is everyone talking about bitcoin being toppled as the major coin,did you really check the market cap and the valuation befrore coming to a conclusion.Long story short no alt coin can topple bitcoin no matter how hard they try and people are comparing bitcoin and alt coin ,where we have more than a couple of hundred alt coins and that comparison is really laughable.

Oh really? Then what about Ethereum?

[Carlsen]

I don't see why the dominance should be an important feature.
Altcoins are traded amongst each other, but to me that is kind of a closed system. Because of that I still have the problem that I do not see by what they should be backed up.
Bitcoin has a connection to the industry because it can be used as payment, that is something I would consider to be important.

[pooya87]

That's insane how Bitcoin's dominance has been toppled without any major events. It seems like a silent transition from Bitcoin to alts.

Why is everyone talking about bitcoin being toppled as the major coin,did you really check the market cap and the valuation befrore coming to a conclusion.Long story short no alt coin can topple bitcoin no matter how hard they try and people are comparing bitcoin and alt coin ,where we have more than a couple of hundred alt coins and that comparison is really laughable.

Oh really? Then what about Ethereum?

yeah right. the coin with 91 million coins currently available and absolutely no cap is obviously going to have a bloated marketcap! it is a simple multiplication after all. did you expect when you increase one variable (the number of coins available) the result stays small. no it grows and goes into a fake number territory.

to put simply so you can understand: if bitcoin had the same situation of ICO premine scam and had 70 million coins stored away in hidden pockets and currently had 91 million coins the marketcap would have been $130,925,762,275 not go sit down and think about these numbers a little.

[BitcoinPanther]

A couple of months back (March), I remember seeing bitcoin dominance about 85% when It comes to the market capitalization. Its currently 59.2% and probably will continue to decrease in the next a few days. Is this something to be worried about?

Source: https://coinmarketcap.com/charts/#btc-percentage

That's insane how Bitcoin's dominance has been toppled without any major events. It seems like a silent transition from Bitcoin to alts.

There is actually no transition.  Take note Bitcoin has roughly 21M coins compared with other coins that has hundreds of millions to billions of coins.  Considering the number, we can not rely on the coin market cap as the measurement of dominance of a coin.  Just think of comparing a two coin with the same price but the other one have 10x more coins than the other one.  Definitely the one with 10x coins has dominance in price even if only 10% of that coin is traded and the 90% is being hold by the developer.  Because price is multiplied by the total number of coins not the coins in circulation.

[nuela]

I'm not concerned about any BTC circumstances because everyone will repeat the same thing, and there will be new things or emerging topics that provide solutions

[runam0k]

I don't see why the dominance should be an important feature.
Altcoins are traded amongst each other, but to me that is kind of a closed system. Because of that I still have the problem that I do not see by what they should be backed up.
Bitcoin has a connection to the industry because it can be used as payment, that is something I would consider to be important.

This is already changing though eg GDAX and other exchanges that bridge fiat and ETH, LTC directly.

IMO if Bitcoin fails to scale people can and will route around it. Other cryptos can (arguably are doing) establish their own v strong network effects.

[Lauda]

to put simply so you can understand: if bitcoin had the same situation of ICO premine scam and had 70 million coins stored away in hidden pockets and currently had 91 million coins the marketcap would have been $130,925,762,275 not go sit down and think about these numbers a little.

The ICO premine from ETH was/is hilarious.

I'm not concerned about any BTC circumstances because everyone will repeat the same thing, and there will be new things or emerging topics that provide solutions

This post is very vague, nonconstructive and therefore useless.

This year from the beginning the bitcoin dominance have increased much.

Spammer detected.

This is already changing though eg GDAX and other exchanges that bridge fiat and ETH, LTC directly.

IMO if Bitcoin fails to scale people can and will route around it. Other cryptos can (arguably are doing) establish their own v strong network effects.

Other cryptocurrencies have the same if not worse scaleability (see ETH, Monero and Zcash as examples of much worse inherent scaling properties). The only reason for which they don't have these issues yet, is because they have very little to no usage outside the speculative realm.

[Vaccinus]

A couple of months back (March), I remember seeing bitcoin dominance about 85% when It comes to the market capitalization. Its currently 59.2% and probably will continue to decrease in the next a few days. Is this something to be worried about?

Source: https://coinmarketcap.com/charts/#btc-percentage

i think it's because of etheruem, without etheruem you have the same tiny marketcap for altcoin, remove etheruem and try again you see that i'm right, dash also pose a threat but much smaller, it come down to ethereum versus bitcoin other coins have a useless marketcap, but there are many of them and it's true that their value is higher than before, there are more investors now than 2013-2014

[1Referee]

i think it's because of etheruem, without etheruem you have the same tiny marketcap for altcoin, remove etheruem and try again you see that i'm right, dash also pose a threat but much smaller, it come down to ethereum versus bitcoin other coins have a useless marketcap, but there are many of them and it's true that their value is higher than before, there are more investors now than 2013-2014

It doesn't make any sense to discard Ethereum - even not for example purposes. It's there, and it accounts for a more than decent part of the total crypto market cap. Obviously, it has turned out to be a massively rewarding investment if you jumped on board on time, but I feel seriously bad for people entering Ethereum at current prices. It can't and won't go up endlessly. It's a coin from which the far majority of the circulating coins are in the hands of a very few entities, collaborating with each other. Of course, as long as the price goes up, people won't care, but at some point these people will get burned HARD.

[DoomDumas]

Not to worry about at all..

BTC price still growing despite market cap dominance decreasing.. Watch out when one or few alt fails to retain capital, part of this capital should go back to BTC, wich may result in continuous bull/bubble market up to 12k U$ before major correction

BTC are strong and deflationary, long way to go in price discovery before stabilisation !

my bet !

[8xbt.com]

It is not just the bitcoin holders shifting to altcoin. The overall market cap has increased by about 10 billion USD to the current 47 billions in the past 15 days. The dominance rate is at just 53% now and is dropping. Down 40% in the past 45 days and down by 3-4% in the past two days.

[stompix]

the price of bitcoin is breaking new barriers and so does the dominance and no other alts can match the dominance of bitcoin.

individual coin price is also temporary drama if your just looking at a snapshot of movement over x hours, days, months
the questions i always ask myself is.
how many merchants accept crapcoinX
how many businesses are concentrating solely on crapcoinX
how many people know, understand, have crapcoinX
how many people need or want crapcoinX to hoard for their grandkids

1) probably 0
2) damn sure 0
3) a few hundred
4) a few hundred but this on the premise that the mother of idiots is always pregnant


Altcoins have something like 0.000% impact in the real world.
If this forum would be shutting down the altcoinscam subforum half of them would be gone in less than a week.

Bitcoin is used in the real world not just for fake IPOs and pumps and dumps called trading.
This is what matters.

All the altcoin fans should take a walk and try to buy something coffee pizza condoms (not that they need the third) with their precious coins

[d5000]

We're nearing the 50% mark (~53% as of now). Most of altcoins are definitively in a bubble and their contribution to the altcoin "market cap share" won't last for long. Even the smallest clone/scamcoins have a market cap of millions or tens of millions now. That is not sustainable in any way - if you consider that half a year ago a 10 million marketcap was enough for the top 20 on Coinmarketcap.

But some of the main altcoins (mostly ETH and maybe also LTC and Monero/Zcash and maybe a PoS coin) can definitively challenge Bitcoin. ETH is working on own scaling solutions (sharding and Raiden). In the case of LTC, I think their market cap share is only sustainable as long as BTC doesn't adopt a scaling solution, that enables them to  simply and lazily adopt the technologies Bitcoin's miners refuse (Segwit). There are some other interesting project with own scaling solutions like Iota or Ardor, but they must first prove they really work.

I think that is basically a good thing to have competition. Pressure from LTC could lead to Segwit be accepted by Bitcoin miners, for example. And as most altcoins are open source projects, improvements can be shared between them.

[gentlemand]

BTC has never dropped this low. There has also never been an alt rally anywhere near this magnitude and by extension we've yet to see the subsequent bubble pop which may be louder than Krakatoa, but who knows? There may be plenty of legs left.

What people regularly forget is that all this stuff is still being made up as it goes along. Anything could still happen and nothing should be resting on its laurels because there's no shortage of pesky thingies nibbling at them.

[8xbt.com]

It bounces back from 50% to 57%. Looks like it will go back to 90% very soon. It is just someone manipulating the market.

[youdamushi]

So btc is still completely dominating the market...

More and more alts are created every month and all together they don't manage to get 50% of the value...

What are you trying to say?

[Lauda]

We're nearing the 50% mark (~53% as of now).

Irrelevant, really.

Most of altcoins are definitively in a bubble and their contribution to the altcoin "market cap share" won't last for long. Even the smallest clone/scamcoins have a market cap of millions or tens of millions now. That is not sustainable in any way - if you consider that half a year ago a 10 million marketcap was enough for the top 20 on Coinmarketcap.

Not only are the alts in a massive bubble, a great deal of the market caps are fake. Ripple and NEM are premined trash; a huge percentage of their supply is intentionally withheld from the market by those who own it (I'm not talking about "holders" or similar, but the people who created it and took the premine). In reality, for example, Ripple's market cap should be calculated (if we use the standard way of calculating it): ~8 Billion x [currentPrice] and not ~38 Billion x [currentPrice.

But some of the main altcoins (mostly ETH and maybe also LTC and Monero/Zcash and maybe a PoS coin) can definitively challenge Bitcoin. ETH is working on own scaling solutions (sharding and Raiden). In the case of LTC.

ETH - Centralized FED 2.0 coin with no real use cases besides companies building up their own projects.
LTC - Silver to the Gold.
Monero - Small niche market with real features (anonymity, fungbility, privacy).
Zcash - centralized scam coin (see founders reward & master keys).
ETH scales much worse than Bitcoin, and so do Monero and Zcash. If they do sharding, Bitcoin will do sharding just several times more efficiently.

It bounces back from 50% to 57%. Looks like it will go back to 90% very soon. It is just someone manipulating the market.

This observation is random and your numbers don't mean anything.