[2017-05-08] The Cryptocurrency Race Heats up as Bitcoin Dominance Drops 30%

[TwoTimes]

Bitcoin’s price has been rising steadily throughout 2016 and Q1 of 2017 amassing a record market capitalization of $25.5 billion USD. However, many other cryptocurrency markets are growing in value and bitcoin has lost more than 30 percent of its market share over the past four months.

For a very long time, bitcoin’s market capitalization (market cap) was considerably larger than all the other altcoins in existence. A market cap is the total market value of all bitcoins across all major exchanges at a specific point in time. Capitalization analysis is often used as a statistic that roughly shows a particular markets net worth. Since bitcoin’s initial value began and other altcoin price indexes emerged, bitcoin commanded 80-90 percent of market cap dominance. Now bitcoin dominance compared to other altcoin market shares has dropped to an all-time low of 53 percent.

Read More Here >>> https://news.bitcoin.com/cryptocurrency-race-bitcoin-dominance-drops-30/

[abdulaziz07]

Its more of an organic growth and not a bubble

[just_Alice]

Well, Ethereum and some other cryptos are rising faster than bitcoin lately, that's true, but stil bitcoin Market Cap is over 27 billion USD and also still Bitcoin dominance is huge, 53% of all cryptos combined. So, imo, bitcoin is in a in tip-top shape, there's nothing to worry about.

[Melis]

So, imo, bitcoin is in a in tip-top shape, there's nothing to worry about.

I've been reading this kind of quotes since when bitcoin dominance was around 90%.

So, my question for you is: at what % will you start to worry?

[foladgoad]

In the present, Bitcoin is limited in number, and there is a need for customers to choose other digital currencies that are normal. However, 1, other currencies are based on Bitcoin. 2, is limited to this stage now. 3, in the future, they all need Bitcoin’s guarantee and management of the management committee. 4, which completely reached the purpose of Bitcoin instead of gold reserves. 5, keep in mind that Bitcoin’s credit value is irreplaceable, Bitcoin’s decisive credit value in the two father of Bitcoin. Digital currency, not to overthrow the government, as well as the traditional economic and financial revolution. In the future, digital money is to be accepted by governments and traditional economic and financial. Digital currency will work with them.

[Iranus]

So, imo, bitcoin is in a in tip-top shape, there's nothing to worry about.

I've been reading this kind of quotes since when bitcoin dominance was around 90%.

So, my question for you is: at what % will you start to worry?

Never.  Altcoins (with the exception of ETH and Ripple) are thinly traded which means that $1 spent on them goes a lot further to increase their market cap than it does with Bitcoin.  The market cap is meaningless because it's not actually to do with traded coins.

Even dropping well under 50% would be meaningless because that would just be diversity of cryptocurrencies.  None of them would be bigger than Bitcoin and even if they were they wouldn't have to be competitors.

I'd only care if the Bitcoin price dropped below ~$100 (extremely unlikely).  Very little else would matter.

[1Referee]

It's beyond insane that Ethereum and Ripple have come this far, but at the same time, they have been very profitable for those that were early enough to jump on board. It will be a matter of time before the roof for these coins is reached. If there aren't any more clowns willing to enter the market at ridiculously high prices, then the billions in market cap that these coins gained, will vanish as easily as they appeared. I already feel sorry for those that believe these coins will increase further in value - people that don't leave the ship on time will be stuck with a heavy bag of worthless tokens.

[just_Alice]

So, imo, bitcoin is in a in tip-top shape, there's nothing to worry about.

I've been reading this kind of quotes since when bitcoin dominance was around 90%.

So, my question for you is: at what % will you start to worry?

Never.  Altcoins (with the exception of ETH and Ripple) are thinly traded which means that $1 spent on them goes a lot further to increase their market cap than it does with Bitcoin.  The market cap is meaningless because it's not actually to do with traded coins.

Even dropping well under 50% would be meaningless because that would just be diversity of cryptocurrencies.  None of them would be bigger than Bitcoin and even if they were they wouldn't have to be competitors.

I'd only care if the Bitcoin price dropped below ~$100 (extremely unlikely).  Very little else would matter.

Iranus has provided a perfect answer, in my opinion. Why should we worry at all? In any case, unless bitcoin drops to zero, we'll have a healthy diversity of cryptocurrencies.

[TraderTimm]

Market Cap is the measuring stick of fools.

The true value is price -- and Bitcoin is kicking every other coin to the curb. $1,755 and rising. Let me know when an alt gets up there.

[Kemarit]

Just let the alt coins do their thing. It won't sustained the growth anyway. Investors who are pumping the alt coin market would go back to bitcoin after they have dump their alt coins. Bitcoin price has steadily rises and I think it has gain a lot of confidence already that it will not crash anytime soon. And I agree with the above poster saying that we should not worry about them. As I have said, let them have their day in the trading platform. Bitcoin will still be the no. 1 crypto-currency and no alt coin can overtake it.

[veleten]

it is not bitcoin's problem,but kudos to altcoins
some made spectacular progress (DASH,XMR,ETH etc.)
just look at litecoins-over 700% price growth and we are expecting it to grow even more
when litecoin Segwit is implemented
"domination" is a relative notion,like Mao Zedong said: "Let a hundred flowers bloom, let a hundred schools of thought contend"

[Quantus]

The Alt-coin market is about to pop at any moment.

[Iranus]

The Alt-coin market is about to pop at any moment.

It's already popping - all of the 20 top altcoins' prices have dropped in the past 24 hours except Waves, including ETH and Ripple.  It's either a bubble popping or just them reaching their peak.  Either way I'm happy.

[anasis]

The Alt-coin market is about to pop at any moment.

It's already popping - all of the 20 top altcoins' prices have dropped in the past 24 hours except Waves, including ETH and Ripple.  It's either a bubble popping or just them reaching their peak.  Either way I'm happy.

Now I already understood why I was so strongly offered to invest Bitcoin in another crypto currency altcoin. The impression is that it was something like a financial pyramid.