BTC dominance decreasing.

[davis196]

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`m not sure if those stats are true.
Most of the altcoins are bubbles which are going to burst,so bitcoin will return back to 85% soon.
The entire cryptocurrency market cap is increasing,which is good.

[Herbert2020]

This just isn't simply true in the least, no coin on here is going to come and rival BTC there's just no way that any of these coins are going to gain any respect and trust, outside of the trading world, and be able to turn into a coin that is actually accepted in some places.

But crypto is essentially non-existing outside of the trading world.  Only in dark markets resides a true application of crypto as a payment system.  Even those entities that accept bitcoin as a payment system, have extremely low volume with it.

if by "crypto" you mean cryptocurrencies known as altcoins then yes you are 100% true. 99% of the altcoins have no business outside of an exchange. their blocks are only filled with 1 coinbase transaction giving the miners the block reward and then once in a while 1 or 2 transactions that belongs to miners dumping their coins on exchanges.
there are couple of altcoins which are trying so hard to say they have usage but they don't.

bitcoin on the other hand (as you were told a million times over the past month and you refuse to accept) has a lot of usages as a currency.

[TastyChillySauce00]

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`m not sure if those stats are true.
Most of the altcoins are bubbles which are going to burst,so bitcoin will return back to 85% soon.
The entire cryptocurrency market cap is increasing,which is good.

Not likely while the money which goes to the altcoins keep on increasing every day, the majority of crowd sale/ICO even use ethereum instead of bitcoin. Therefore, people who want to invest into some projects will be forced to convert their bitcoin to ethereum which means increasing the dominance of alts towards bitcoin even if many currencies' cap merged into one.

[Decoded]

I don't think so. The price of Bitcoin is still travelling upwards. It is simply the fact that Litecoin and a few other altcoins have gained popularity. This means that money and interest I'd going into the crypto industry, which will indirectly benefit Bitcoin. A competition of coins is good.

[slaman29]

I have a feeling, that even if the Bitcoin share both in terms of market cap and volume becomes less than half, or even 30%, it will still be dominant.

A simple example. We humans only populate 1% of the planet's surface... I don't know our "volume" of for example... breeding or oxygen consumption but I think it is also small. But are we dominant? 100% yes:)

[dinofelis]

This just isn't simply true in the least, no coin on here is going to come and rival BTC there's just no way that any of these coins are going to gain any respect and trust, outside of the trading world, and be able to turn into a coin that is actually accepted in some places.

But crypto is essentially non-existing outside of the trading world.  Only in dark markets resides a true application of crypto as a payment system.  Even those entities that accept bitcoin as a payment system, have extremely low volume with it.

if by "crypto" you mean cryptocurrencies known as altcoins then yes you are 100% true. 99% of the altcoins have no business outside of an exchange. their blocks are only filled with 1 coinbase transaction giving the miners the block reward and then once in a while 1 or 2 transactions that belongs to miners dumping their coins on exchanges.
there are couple of altcoins which are trying so hard to say they have usage but they don't.

bitcoin on the other hand (as you were told a million times over the past month and you refuse to accept) has a lot of usages as a currency.

No, I mean all of crypto, bitcoin included.  It has some usage as a currency, representing on the percent level of its transaction volume (and so in a certain way, on the percent level of its market cap, grossly).  I'm not denying that it has some usage, but that usage is a MINOR aspect of what happens with it.  Bitcoin is essentially just as speculative an asset as alt coins.
After all, ethereum also has some usage (like gambling contracts).  But it is also infinitesimal as compared to its market cap and volume.

[DoublerHunter]

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 don't think that there is something to worry about because it is normal for the bitcoin to have a decrease on its dominance in the market because its price is keep rising so the power of buying a lot of bitcoin has been decreased also, if you look back in the last few weeks or months the bitcoin is very cheap so the dominance is over rated and now it is going back to normal.

[dinofelis]

I don't think so. The price of Bitcoin is still travelling upwards. It is simply the fact that Litecoin and a few other altcoins have gained popularity. This means that money and interest I'd going into the crypto industry, which will indirectly benefit Bitcoin. A competition of coins is good.

This.

No market with a monopoly is healthy.  This is why I like seeing bitcoin's dominance decrease.  That doesn't mean that "bitcoin will die" or not even that bitcoin will lose its first place.  But this monopoly is not good, and I think the market is slowly correcting for this.  It will not go in one go.  There are fundamental aspects of bitcoin I don't like, and "transparency" is the main issue I have with it.  But others like this transparency.  In general, I hate the speculative nature (the "let's become a millionaire" aspect of it) of all of crypto, because I'm convinced that it kills its purpose that got me interested in it, which is to become money for a stateless closed underground economy.  But unfortunately, that seems to be the leading thing in crypto since many years.

[kryptqnick]

I have a feeling, that even if the Bitcoin share both in terms of market cap and volume becomes less than half, or even 30%, it will still be dominant.

A simple example. We humans only populate 1% of the planet's surface... I don't know our "volume" of for example... breeding or oxygen consumption but I think it is also small. But are we dominant? 100% yes:)

Sounds like a good point. Quantity doesn't always have something to do with quality. Nowadays a worthless coin can get 1 billion marketcap but it won't make this coin influence the industry much. Bitcoin is still far from losing popularity. Perhaps it never will lose it, for new-comers get to know bitcoin first and many people don't even try finding out more about altcoins.Of course, some alts might become powerful competitors of btc but btc will still be on top.

[Slark]

I don't think so. The price of Bitcoin is still travelling upwards. It is simply the fact that Litecoin and a few other altcoins have gained popularity. This means that money and interest I'd going into the crypto industry, which will indirectly benefit Bitcoin. A competition of coins is good.

This.

No market with a monopoly is healthy.  This is why I like seeing bitcoin's dominance decrease.  That doesn't mean that "bitcoin will die" or not even that bitcoin will lose its first place.  But this monopoly is not good, and I think the market is slowly correcting for this.  It will not go in one go.  There are fundamental aspects of bitcoin I don't like, and "transparency" is the main issue I have with it.  But others like this transparency.  In general, I hate the speculative nature (the "let's become a millionaire" aspect of it) of all of crypto, because I'm convinced that it kills its purpose that got me interested in it, which is to become money for a stateless closed underground economy.  But unfortunately, that seems to be the leading thing in crypto since many years.

Good insight. I just want to add that that heavy competition of altcoins is the motor for changes/upgrades and will help Bitcoin to evolve.
When miners will see that bitcoin is losing ground they would be more inclined to unify under 1 banner to chose serious scaling solution.
In addition, 99% of altcoins are insignificant it is only top 10-20 which really counts. All the rest is pure speculation.

[Onika84]

Interesting topic, I'm enjoyed to read all of this.

Does anyone know why bitcoin can be "born"?

[naughty1]

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 don't think that there is something to worry about because it is normal for the bitcoin to have a decrease on its dominance in the market because its price is keep rising so the power of buying a lot of bitcoin has been decreased also, if you look back in the last few weeks or months the bitcoin is very cheap so the dominance is over rated and now it is going back to normal.

The bitcoin market spikes, it's too sudden for everyone, however, I do not see any impact that could make the bitcoin's value change so it makes me nervous. . Is the bitcoin market in particular and the crypto market in general being taken over? Is any power powerful enough to dominate the market?

[qiwoman2]

I am not too bothered about dominance percentages. What fascinates me as that both Bitcoin and Altcoin markets are both surging in marketshare, as both sides of the blockchain are interesting to various factions of Society. More business, investment vehicles and start up incubators are being created on the blockchain now than ever before and this is a wonderful time to be involved in accumulating and trading both. I see Alts as complimentary to Bitcoin and Vice Versa.

[Xester]

I don't think so. The price of Bitcoin is still travelling upwards. It is simply the fact that Litecoin and a few other altcoins have gained popularity. This means that money and interest I'd going into the crypto industry, which will indirectly benefit Bitcoin. A competition of coins is good.

The increasing value of bitcoin nowadays cannot be due to the popularity of the altcoins. Perhaps it has some effect on bitcoin but it is not the major source of what caused the price of inflation in bitcoin today. The main reason of why the value of bitcoin is going upwards since April is the fact that Japan has adopted bitcoin and that cause a major demand on bitcoins which resulted to the skyrocket increase.

[soul-impact]

I don't think so. The price of Bitcoin is still travelling upwards. It is simply the fact that Litecoin and a few other altcoins have gained popularity. This means that money and interest I'd going into the crypto industry, which will indirectly benefit Bitcoin. A competition of coins is good.

The increasing value of bitcoin nowadays cannot be due to the popularity of the altcoins. Perhaps it has some effect on bitcoin but it is not the major source of what caused the price of inflation in bitcoin today. The main reason of why the value of bitcoin is going upwards since April is the fact that Japan has adopted bitcoin and that cause a major demand on bitcoins which resulted to the skyrocket increase.

Very precisely, the popularity of bitcoin is not reflected by its value; if we talk about the popularity of bitcoin, consider the number of users and the level of popularity. In recent times, not only Japan, some countries are also planning to accept bitcoin, which makes the value of bitcoin surge dramatically, and it leads to inflation.

[dinofelis]

In recent times, not only Japan, some countries are also planning to accept bitcoin, which makes the value of bitcoin surge dramatically, and it leads to inflation.

As far as I understand, that bill has to do with *crypto currencies* not with bitcoin per se.

[eternalgloom]

I don't think so. The price of Bitcoin is still travelling upwards. It is simply the fact that Litecoin and a few other altcoins have gained popularity. This means that money and interest I'd going into the crypto industry, which will indirectly benefit Bitcoin. A competition of coins is good.

Bitcoin price isn't everything, trading volume is also a big factor in determining succes.
Just look the the current trading volumes and prices of other altcoins in the top 10 on coinmarketcap and compare it to, say, 2 years ago.

There are more coins with a value of around $100 per coin and 3 other coins that have a marketcap of over 1 billion dollars!

[cryp24x]

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`m not sure if those stats are true.
Most of the altcoins are bubbles which are going to burst,so bitcoin will return back to 85% soon.
The entire cryptocurrency market cap is increasing,which is good.

Stats are true but the computation is flawed when it comes to cryptocurrency dominance, since it just calculates the current price multiply by the total supply which is the flaw.  We cannot see the the actual dominance in usage and adoption of people in there which is the thing that should be considered as the factor of being dominance.

[Theb]

Bro Bitcoin is priced at 1763$ as of today and you are saying that Bitcoin's dominance is decreasing. An increase in price tells us that there is also an increase in demand. Bitcoin right now is way ahead of any Cryptocurrency out there and it is proving to us that it will still continue to grow with the increasing demand it is having. Right now the price says it all.

[robelneo]

Bitcoin will still dominate the market in the next 5 years,unless of course the issue of transactions continue to persist,it is still the merchant prefered currency and 100% of all exchanges has bitcoin on it and I don't know of any people who are into currency that do not have bitcoin in their portfolio.